Private insurers are meant to help Florida's not-for-profit Citizens Property Insurance Corp. reduce its role. But homeowners are seeing sky-high premium offers.
Florida homeowners who can’t find coverage from standard insurers turn to Citizens Property Insurance Corp. for affordable home insurance. Florida’s state-created home insurer of last resort currently covers more than 1.4 million properties — making it the largest home insurer in the state by far.Through its depopulation program, Citizens aims to help transfer its policyholders to private insurers.
Citizens Property Insurance depop programThe challenges of Florida’s difficult home insurance market, including more frequent and costly claims, have affected Citizens as well as private insurers. Frustrating ‘offers’ from private insurersIf a private insurer’s offer through the depopulation program is no more than 20% higher than what a policyholder pays with Citizens, the homeowner must accept the offer. If the homeowner doesn’t act on the acceptable offer, Citizens will assign their policy to the private insurer that has the lowest estimated premium. This rule also applies to Citizens’ policies at the time of renewal.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Florida Residents Flee State as Insurance Premiums Skyrocket up to 900%Insurance premiums in the Sunshine State have climbed so high that people are considering going without insurance coverage, or moving out of the state.
Leer más »
As Storm Damages Mount, States Try to Make It Harder to Sue InsurersClimate-driven payouts are pressuring insurers, and some states are looking to keep premiums down
Leer más »
Steel-High’s Andrew Erby Jr. makes his college pick, plans to “keep focusing on greatness’The senior offensive and defensive lineman talked with PennLive Thursday about his college commitment.
Leer más »
Health insurance premiums soar in 2023 to average of $24,000 for family planGabrielle M. Etzel is the healthcare policy reporter for the Washington Examiner. Prior to joining the Washington Examiner, she served as a staff reporter at Campus Reform and as a freelance writer.
Leer más »
Health-insurance premiums soar to almost $24,000, resuming 'nasty ways': KFFPremiums that people pay for health insurance through their jobs shot up this year after a period of minimal increases, according to KFF
Leer más »
“Not for beginners!”: Santa Cruz’s big swell collides with high tideHigh temps, high surf and high tide collided in a flurry of water rescues around noon Wednesday.
Leer más »