(WSVN) - Buying or renting in Florida may come at a higher cost.
Citizens Property Insurance Corporation announced they are looking to raise rates by 14.2% after Hurricane Ian took a big part of the company’s reserve.
The company also announced they are considering a yet-to-be-determined hurricane tax if a big storm hits the state.
It is estimated that Citizens Insurance has about 1.2 million customers in Florida.
The rate hike requested by the corporation still needs state approval.
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