Citizens Property Insurance Corporation defines an A-rated risk as a building with a replacement value of $10,000,000 or more. A-rated risks, according to Citizens typical rate increases, are not subject to the normal 10% statutory rate increase as every other risk is subject to under the program.
Because of this, if you’re an A-rated risk insured with Citizens, look forward to a summer of incredible rate increases. According to an Agent Technical Bulletin released last week, rate increases are effective for new business starting June 1, 2013 and for renewals, July 1, 2013.
Check out the new rate schedule increase here: