Florida’s Insurance Commissioner recently signed orders approving proposals from five companies to assume thousands of Citizens’ policies as early as October.
Steps are now being taken for Slide Insurance Company, Safepoint Insurance Co., Southern Oak Insurance Co., Florida Peninsula Co. and Monarch National Insurance Company to take over nearly 200,000 policies from Citizens Property Insurance, in an effort to depopulate what is supposed to be Florida’s “insurer of last resort.”.
Property Insurance experts are calling it a step in the right direction, in helping consumers in the state of Florida who have been rocked by the home insurance crisis.
The good news is that this is an indication that private insurance companies want more business in Florida, but there could be some bad news though for some Citizens policyholders, who will be asked to switch.
However, keep in mind that you only need to accept a switch if it is within 20% of what you’re paying for your Citizens coverage. So, say for example, you’re now paying $3,000 For your Citizens policy premium and you get a takeout offer from a private company for $3,500. You must accept that offer even though it’s higher than what you’re paying for Citizens since the increase is within 20%.
The Consumer Law Office (CLO) Is here to help you with your property damage claim from the start of damage through settlement of your property damage claim!
If you are engaged in a dispute with your property insurance company, immediately contact The Consumer Law Office (CLO) to have your property damage claim reviewed by one of our Florida Property Damage Claim Attorneys. Our attorneys are highly experienced and knowledgeable in property insurance law and adjusting of damage claims. The CLO team will aggressively advocate your property damage claim on your behalf and litigate as necessary to help you get the benefits you are entitled to under your insurance policy.
Contact CLO Today 305-940-0924 for a FREE Comprehensive Property Damage assessment and consultation. Visit https://consumerlawoffice.com/
Your insurance company hires experts to protect their interests; your representation should be no different.
We only get paid when you get paid by your insurance company.
Contact CLO Today! 305-940-0924
