A Miami Republican state senator wants Citizens Insurance to cover higher-priced homes. Sen. Ana Maria Rodriguez introduced a bill that would increase limits on how much the state-backed insurance company insures.
Citizens cannot sell insurance to homes with replacement costs over $1 million in Miami-Dade and Monroe counties. Rodriguez’s bill would increase that to $1.5 million. That would make more homes eligible for insurance through Citizens.
The insurer-of-last resort has been trying to reduce the number of homes it insures. Almost one out of every 20 Citizen’s home insurance policies are in Miami-Dade and Monroe counties.
READ MORE: Condo prices and sales keep falling in South Florida, except Palm Beach County
This is a News In Brief report. Visit WLRN News for in-depth reporting from South Florida and Florida news.
