Florida homeowners’ insurance inspections from Citizens soon to explode

Florida homeowners insurance inspection
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The property insurer of last resort plans to make substantial eligibility and underwriting changes too. Florida homeowners’ insurance company of last resort, Citizens, has announced that it is likely to substantially increase its property inspections over the next four years in an effort to reduce its exploding exposure level. The company wants to trim back the number of policyholders it is carrying across the state. Citizens is expanding its effort to reduce its Florida homeowners’ insurance exposure while it hacks back the number of properties it is covering. It intends…

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Citizens premiums skyrocketing as it aims to shrink its number of customers

Florida Insurance

In an effort to reduce its number of policyholders by over 675,000, Citizens Property Insurance is sending its rates skywards. In an effort to take up to 678,000 policyholders out of its state-run coverage program and resume its position as a last resort carrier, Citizens Property Insurance has been rapidly raising its Florida homeowners insurance rates while decreasing the coverage it provides. Citizens is justifying its dramatic “depopulation” strategy by saying it will prevent financial ruin in the state. The insurer used its revised budget proposal to unveil both the…

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