Florida Approves 6.3% Increase In Citizens Homeowners Rates

By | September 11, 2013

  • September 11, 2013 at 11:41 am
    sharon macleod says:
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    when the new rates go into effect, I will no longer be able to afford the payment…..GREAT!

  • September 11, 2013 at 11:44 am
    sharon macleod says:
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    Increased Insurance…..Decrease Pay….= No money for the payment. Florida needs to prepare for more lost homes! RIDICULOUS excuse for robbing people!

  • September 11, 2013 at 1:59 pm
    fl agent says:
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    Lets see Citizens rates are still considered CHEAPER than other carriers? I took the opt out option the last time but had to EXCLUDE sinkhole so I could afford the premium of the take out carrier. Between this and flood rate increases Florida’s housing market should be completely in the toilet by lets say next summer? Good Job Florida Ins Commissioner and Lawmakers!

    • September 11, 2013 at 2:46 pm
      usernamehere says:
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      What I find “funny” is that no one even pays attention to those take out carriers and rates. We had to re-write an ENTIRE take out group because they went up 20%-70% from the Citizens policy. Of course, they lost the grandfathered SH coverage because no one else would offer it. Funny how that happened… Or carriers will do a take out, keep the policy for a year or two and then cancel. How did that help any? Oh, how about companies that won’t even allow business in certain areas/counties… where else are they going to go?! I don’t know what the solution is but we need something.

  • September 12, 2013 at 1:24 pm
    jw says:
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    Hasn’t Citizens been historically under priced? I thought I read an article on IJ in the last year that Citizens still has a way to go to have actuarially sound rates. Possibly another 25% or more increase just to get to an appropriate rate. Be happy there even is an option to purchase rates below market.

    • January 5, 2014 at 9:06 am
      Jessie Thomas says:
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      That is not at all true. First of all, Citizens has a $6 billion in reserves. Second, Citizens does not base its rebuilding costs on a realistic model or cost. Third, Florida NEVER had any issues with homeowners insurance costs until the Jeb Administration opened this state to the wolves, all his friends and special interest that rigged the risk issue to the detriment of the homeowner. In all other state as is the custom, the pool of risk is done nationwide. Florida may have hurricanes, but California has earthquakes and the north and west have these horrendous blizzards and storms. Maybe the people living on the water — and I mean right on the beach — needed to be updated in terms of risk. But on the whole, Florida homeowners are not being judged based on actual risk.

  • September 12, 2013 at 1:28 pm
    Ivan del Jesus says:
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    On the Depopulation effort by Citizens

    there is an endorsement on some of the take-out companies that I find “troubling”

    On Heritage Insurance is listed as PLATINUM PREFERRED SAVINGS PROGRAM. Heritage Insurance hires their own contractors (vendors) and in the event of a Claim insured MUST go through the Contractors (vendors) hired by Heritage

    If the consumer wants to use his own contractor:

    Reading from the Heritage Pamplet: “If you decide to use a different vendor to conduct the repairs, we will simply pay your contractor the same amount our Platinum vendor would have received.”

    So the Heritage Vendor (or Contractor ) has ultimate authority settling the claim

    The repairs have an “UNPARALLELED THREE YEAR WARRANTY”

    Most Reputable Contractors in South Florida Give you a 10 year warranty on their work specially if they pulled permits for the job.

    People’s Trust Insurance calls this the Preferred Contractor Endorsement PTIC E023 10 11.

    The repairs are not guaranteed or have a warranty from People’s Trust but from Rapid Response Team LLC

    It’s called the vipGOLD program. “Rapid Response Team workmanship guaranteed for 3 years” and they have “Fully stocked warehouses”

  • January 13, 2014 at 10:28 pm
    Bill says:
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    I just got my annual Citizens insurance policy in the mail today and I was shocked to see that my premium went up 16.7%. Nothing changed, no claims. With the Federal cost of living set to 1.5% this year, this is an outrage.

  • November 19, 2014 at 5:40 pm
    Frank says:
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    If Citizens is a STATE owned company, then the CEO, etc should be paid in line with other state employees to cut down the costs. I am curious how much they get paid there. They keep increasing the premium and keep saying the money collected is not enough. Where does the money go?



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