ORLANDO, Fla. — A property insurance company will talk to regulators Wednesday about plans for a major rate hike in Florida.
Castle Key wants to increase premiums by 53%.
That company mainly covers condos.
Watch: New report: Florida Property Insurance Premiums won’t drop
They say the higher premiums are needed to cover the cost of operating in the state.
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Watch: Florida homeowners with Citizens insurance to see double-digit rate hike
They proposed a 54% increase.
So far, no decisions have been made.
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