Citizens deficit to cost all homeowners [Florida]

Citizens deficit to cost all homeowners [Florida]

All Floridians with homeowner insurance policies will have a one-time charge tacked on their annual premiums to help cover Citizens Property Insurance Corp.’s $1.7 billion deficit from 2005, officials with the state-backed insurer decided Thursday.

And Citizens’ board will meet next month to consider another extra charge for all of the state’s homeowners to shore up the state’s home insurer of last resort and now its biggest property insurer.

The extra charge approved Thursday will be $20.70 for every $1,000 of annual premium paid and will be in addition to the rate hikes that consumers already are paying to insure their homes.