Have you received an Insurance Letter from Citizens?
Have you received an Insurance Letter from Citizens?
Over the last few weeks, Citizens Insurance has sent out 300,000 letters to some of their customers offering private insurance as an alternative to continuing with Citizens Insurance. Citizens is considered Florida’s Insurer of Last Resort. This effort is to reduce the number of policy holders by Citizens.
If the private insurance offered is within 20% of Citizens and you do not contact Citizens by 10/10, you will be switched to the new insurance provider. Citizens will not renew your policy. If it is more than 20%, you can decline the new insurance and remain with Citizens. If you have not shopped homeowner’s insurance in a year or two, it may be time to check your insurance options.
If you have not received a letter but do have Citizen’s insurance, I would suggest that you check to make sure you are not included in this group. It could simply be your letter was lost or is late being sent out. Better to be sure then get a big surprise increase in your insurance or mortgage payment if your insurance is escrowed in your payment.
If you are considering buying a home in Central Florida, I would be happy to help find the right home for you. There are ways to minimize your homeowner’s insurance costs. Contact me when you are ready to discuss your options.
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