Live Insurance News

Homeowners insurance competition report shows some Florida counties lacking

January 5, 2015January 3, 2015 G. Turner

Some kinds of residential policies in Monroe and Miami-Dade counties are coming up short in options. A new report has now been issued by the Florida Office of Insurance Regulation and has shown that in the counties of Miami-Dade and Monroe, there is a notable lack in competition among homeowners insurance companies for certain kinds of residential policies. This report has brought unwelcome news at a time in which the state is attempting to shrink its last resort coverage. The state has been seeking to reduce the size of Citizens…

Homeowners insurance rebate deadline nears for Louisiana Citizens

December 9, 2014December 6, 2014 Julie Campbell

Citizens Insurance Louisiana homeowners insurance property

The Department of Insurance in the state has now issued a reminder to policyholders about the cut-off date. Policyholders with homeowners insurance from are being reminded that there is a Citizens Property Insurance deadline that is now rapidly approaching by which an assessment rebate on policy must be claimed if they wish to take advantage of it. The Louisiana Department of Insurance has sent out a reminder to make sure policyholders complete the necessary steps. Jim Donelon, the commissioner in the state, has reminded homeowners insurance customers that the deadline…

Citizens Property Insurance to shed more policyholders

December 9, 2014December 6, 2014 H. Cutner

Florida homeowners insurance, Citizens Property

Five more insurers in Florida have now been approved to take on the homeowners policies of the state-backed giant. In recent property insurance news, state regulators have now given their approval to five homeowners insurers based in the state in order to give Citizens the opportunity to unload up to 132,441 more policies. Citizens will start to shift more of its homeowners policies outward to those insurers, beginning in February. This will help Citizens to be able to better pursue its goal of removing as many property insurance policies as…

Louisiana homeowners insurance rates at Citizens are headed up

January 24, 2014January 21, 2014 G. Turner

The insurer of last resort is now increasing the amount that policyholders must pay for coverage. Throughout the state, Louisiana homeowners insurance customers who have their coverage through Citizens are discovering that their rates are headed up yet again, regardless of whether they are covered for their homes or for wind-only policies. Other forms of coverage affected by the change include mobile home, renters, and condo policies. The average increase across all of these forms of Louisiana homeowners insurance and other affected forms of coverage is 5.2 percent. Following a…

Homeowners insurance choices faced by many Florida policyholders

September 12, 2013September 9, 2013 Julie Campbell

Considerable decisions are ahead in the state as Citizens divests itself of a massive number of policies. Within the next month, there will be almost 400,000 people in Florida who currently have homeowners insurance coverage through Citizens Property Insurance Corp., and who will be receiving notice in the mail from another insurer to advise the policyholders that their coverage will be transferred over to that new company by November 5, 2013. At that point, the policyholders will need to make one of two choices that will be available to them.…

Homeowners insurance policyholders at Citizens may have savings option

May 21, 2013May 25, 2013 H. Cutner

Many property owners are unaware of some of the cheaper coverage opportunities that are available. Citizens homeowners insurance policyholders in Florida may have additional savings options available to them of which they have been completely unaware, but that is starting to gain more media attention. As raises in rates have been making headlines from this insurer of last resort, many have missed potential savings. There are less expensive forms of coverage at Citizens homeowners insurance, which are available amid an environment in which the rates are rising at a staggering…

Homeowners insurance changes from Citizens could greatly impact coastal properties

May 10, 2013May 25, 2013 H. Cutner

Experts in coverage and in real estate are saying that the homes along the coast could see major changes. According to the homeowners insurance and real estate communities, the reforms to Citizens that have occurred in Florida will have a sizeable impact on the homes located along the southern coast of the state. The legislature has now approved changes that have been designed to reduce the insurer’s enrollment. The reason that Citizens is hoping to considerably reduce the number of people it serves is that its current size makes it…