More than a million homeowners rely on Citizens Insurance for coverage, and people in South Florida are feeling the financial pressure.
Emily Redey and her husband have two young kids. She said when she first got Citizens in 2022, her premium was about $1,500.
Two years later, Redey said it’s gone up nearly $1,000, taking a big blow on their budget.
“My husband is now working six days a week. I’m home with the kids. They barely see their dad cause he’s working so much,” Redey said. “I can’t afford child care on top of the insurance and the mortgage and the property taxes and everything else that comes with taking care of two kids.”
Now her family may see another increase on their premium, which may push her family to move away from Florida.
Citizens, Floridas insurer of last resort and the largest insurer in the state, is seeking a rate hike of 14% on personal homeowners policies. That information was revealed at a Citizens Board of Governors meeting on Wednesday morning.
The new rate request would take effect on Jan. 1, 2025.
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“Every day, once the kids are in bed and I’m alone because my husband is doing an overnight, I’m in my room crying, cause I don’t know what else to do. And as a mom, you’re supposed to have all the answers,” Redey said.
Redey added that she’s been shopping for new insurance and has gotten a new roof and new impact windows to try and be more insurable, but she’s had no luck.