Should Fla.'s Last-Resort Insurer Cover $1M Homes?
As Fla. home values soar, calls grow to increase state-owned Citizens Insurance eligibility cap to $1 million statewide rather than in just two counties.
Source: floridarealtors.org
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Is it time to increase Citizens' $700,000 coverage threshold?
As inflation pushes home replacement values ever higher, calls are getting louder to increase the eligibility cap for coverage by state-owned Citizens Property Insurance Corp. Currently, the eligibility cap is $1 million for homeowners in Miami-Dade and Monroe counties and $700,000 everywhere else. That's not fair, say proponents who want to change it to $1 million everywhere.
Source: sun-sentinel.com