Citizens Insurance (formally known as Citizens Property Insurance Corporation) is a state-run, non-profit insurance carrier for Florida residents who are unable to find coverage from private insurance companies The state-backed Citizens Property Insurance Corp. ended May with 883,333 policies, a nearly 45 percent increase from a year earlier, according to newly posted data.

The insurer had 609,805 policies as of May 31, 2021, but it has continued to add thousands of policies a week as private insurers drop customers and seek hefty rate increases amid financial losses.

The new total was a nearly 91 percent increase from the 463,247 policies that Citizens had on May 31, 2020, data posted on the Citizens website show. “This is one of those stories that, unfortunately, the news is not getting better with time,” Citizens Chief Operating Officer Kelly Booten told members of the Citizens Market Accountability Advisory Committee last week.

Gov. Ron DeSantis called a special legislative session in May to try to shore up the insurance market. Lawmakers passed a series of changes, including setting aside $2 billion to help provide critical reinsurance to insurers; addressing roof-damage claims; and taking steps to restrict attorney fees in lawsuits against insurers. But it remains unclear how much short-term help the changes will provide to the consumer.

Citizens is known as Florida’s “insurer of last resort” because typically, Florida property owners don’t turn to Citizens because they want to, but because they have no other choice. You may only purchase a Citizens Insurance policy if: No other insurer is willing to issue you a policy, or Coverage from private insurers is at least 20% higher than a similar Citizens policy. This is why it is referred to as the “insurer of last resort

The Consumer Law Office – Here to help you with your property damage claim from filing your claim through settlement of your claim!

If you have property damage or are engaged in a dispute with your property insurance company, immediately contact Consumer Law Office (CLO) and 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

We have helped numerous home and business owners successfully recover the compensation they deserve.

There are no upfront fees, and we only get paid when you get paid.

Contact us today for a FREE consultation @ 305-940-0924 and ask for Attorney Mordechai Breier, the founder of CLO. He will personally take your call and give you peace of mind!