More than a million Florida homeowners could see an increase in property insurance costs again next year. The question is how much exactly they’ll go up. The state-backed Citizens Property Insurance is requesting a roughly 14% rate increase for next year, their largest statewide requested increase on record. Leaders at the company say their rates are still artificially low and not actuarily sound. “We certainly do not take our request for a rate increase lightly,” Citizens CEO Tim Cerio said at a hearing earlier this month. “Our rates for the most part remain actuarily unsound and highly competitive across the state and as a government-backed insurer of last resort we should never be competing with private market.” Average premium increase: From $2,954 to $3,234 in Pinellas (13.3%) From $2,667 to $3,208 in Hillsborough (13.5%) From $2,972 to $3,370 in Sarasota (13.4%) The request still has to be approved by regulators in the Office of Insurance Regulation. Many, including staff, expected an order to be posted on Monday, but that has not happened yet. “Pursuant to s. 627.062, F.S., OIR has to issue a final order establishing Citizens’ rates within 45 days after the last recommended rate is filed. We are anticipating the final order to be published sometime [Monday],” the office told 10 Tampa Bay. MORE: https://www.wtsp.com/article/news/local/pinellascounty/citizens-insurances-rate-hike-request/67-9f031df2-e561-4fdd-aaa6-ada6a3efe767