TALLAHASSEE -- Another rate drop -- about 10 percent -- is available
starting today for 118,000 Floridians whose homes are insured by
Citizens Property Insurance through two separate policies.

The state-run insurer as of Aug. 1 is offering a single policy to
replace the two policies --one for wind, the other for everything else
-- that Citizens used to be required to sell in high-risk areas. By
combining coverage plans, the company is able to offer a lower rate.

Not just current Citizens' policyholders can buy the cheaper policy.
Homeowners who currently buy just wind coverage from the state can also
switch over, potentially robbing business from private insurers that
were willing to insure beach houses against everything but a hurricane.

Industry records show Florida insurers in March had almost 387,000 customers without hurricane coverage, led by Nationwide (57,344) and State Farm (49,401).

Coincidentally, State Farm says it is about to drop some 50,000 coastal customers, unless they have also bought car insurance from the company.