Governor Charlie Crist says he is committed to reducing property insurance costs.  The Florida Legislature is working on the following:

Lowering the rates, allowing property owners to exclude windstorm coverage from their policies, remove the requirement that Citizens Property Insurance Corporation charge the highest premiums in the state, repeal Citizens Jan. 1, 2007 rate increase and freeze rates at Dec. 31, 2006 level.  Eliminate the cap on deductibles, allow non-homestead properties to be eligible for Citizens coverage effective March 1, 2007.  allow Citizens to write multi-peril policies in the windstorm pool, which will result in a decrease in premiums for many policy holders.  Require all Florida only insurance company to have a surplus of at lease $50 million in liquid assets to help ensure that policy holders receive payment when they need it.  Require insurance companies to pay policy holders quickly after a storm.  These are just some of the areas that the legislature and the Governor are presenting.
To read the bill in it’s entirety visit http://snipurl.com/185co.