Citizens Wants Average 7.2% Rate Hike – Up from Earlier 3.7%

Brooksville residents could soon see a steeper increase in their property insurance premiums, as Citizens Property Insurance Corporation is now seeking an average rate hike of 7.2% for 2025. This latest proposal marks a significant jump from the earlier 3.7% average increase the state-backed insurer had initially indicated.

The revised request, which is currently under review by state regulators, reflects ongoing challenges in Florida's property insurance market. While the exact impact on individual Brooksville homeowners will vary based on their specific policy and property, the general upward trend in premiums is a concern for many in the community, particularly those in historic neighborhoods like downtown Brooksville.

Citizens Property Insurance serves as the insurer of last resort for many Floridians, including a growing number of policyholders in Hernando County, when private insurers pull back or raise rates significantly. Any rate adjustments by Citizens often have a ripple effect across the broader market, influencing private insurers' decisions as well.

Local officials and community leaders have consistently expressed concerns about the rising cost of living in Brooksville, with insurance premiums being a major component. Residents are encouraged to stay informed about these proposed changes and to review their own policies carefully once final rates are approved.

The ultimate decision on the rate increase rests with the state Office of Insurance Regulation, which will consider public input and actuarial data before issuing a final ruling. This process typically involves public hearings, though specific dates for input regarding this latest proposal have not yet been announced.