Most Palm Beach County homeowners who buy multiperil insurance from Citizens Property Insurance Corp. would pay less next year under rates proposed Monday.

Average multiperil premiums would fall to $2,481 from $2,668. Some 18,485 homeowners — 88 percent of the Citizens' multiperil customers in the county — would see premiums fall. Most of those people live west of Interstate 95, Citizens spokesman Michael Peltier said.

However, 73 percent of homeowners who have Citizens insurance for wind damage only would see higher premiums — an average of 5.7 percent. The average premium would rise to $3,089 from $2,924.

Most of the increased premiums would cover homes east of Interstate 95, which would be hit harder by a hurricane, Peltier said.

The rate increase would be less than in past years, he said. Citizens, for example, to increase most of last year's premiums in South Florida by about 11 percent.

The Citizens Board of Governors will consider the proposed 2015 rates at a meeting Wednesday in Orlando. Ultimately, the Florida Office of Insurance Regulation establishes rates for Citizens before they take effect.

Peltier said declining or slower rate increases are largely due to Citizens' healthier finances, especially since the state hasn't had a hurricane since 2005. That has allowed Citizens to build a sizeable reserve, he said.

"We've done nothing more than rely upon the same data we use every year to determine rates, and this year that data indicates a decrease is in order for most of our policyholders," said Chris Gardner, chairman of Citizens' Board of Governors.

dgehrke@tribune.com or Twitter @donnagehrke