I have one question: how is this going to prevent these companies from dumping policies 3 years from now and having to go back into Citizens? My policy was bought by Towerhill. I called Towerhill and asked what were my chances of being dumped in 3 yrs and having to go back in to Citizens at a much higher rate. They said there are no guarantees and that it very well could happen. By the way, I’m paying more with TH.
Any agent who would consider a Citizens policy compared to THIG needs their heads examined. If for no other reason, THIG allows you to customize the policy to your needs, Citizens doesn’t allow for much.
Tower Hill is way better than Citizens, and Citizens is on a glide path to take a 10% rate increase for the next 4 years anyways, so their rates are going up too. Even if Tower Hill only keeps your policy for 3 years, is there no place else you can go back to besides Citizens?
No there isnt any place to go besides Citizens. My State Farm policy was dropped, a company I would gladly have paid more money for and had every independent agent I could think of try to find a company for my home. No luck so I had my State Farm agent write it with Citizens. I’ve been an agent in Florida for 20 years so I know the market very well. I of course would rather be with Towerhill, whom I dont consider that good, than Citizens. I’m just saying the state is acting like it is a good thing these companies are taking policies out of Citizens and it is nothing but the same thing thats happened in years past. They pay carriers to take policies and then 3 years later those carriers dump the homes and they go back into Citizens. Whats to prevent that. I see only one person understood what I wrote.
I’ve had the same question. I’ve got numerous carriers with no distance to water restrictions, no age restrictions, etc. Maybe it’s a coverage A problem? Maybe a good 4-point can’t be had?
Citizens should try and protect Florida residents by only allowing carriers that are rated at least A- by Best’s and have at least 75 million in surplus to take out policies from them. That being said, I don’t think any carriers in this regard would be dumb enough to participate in any take outs!!!!
I have one question: how is this going to prevent these companies from dumping policies 3 years from now and having to go back into Citizens? My policy was bought by Towerhill. I called Towerhill and asked what were my chances of being dumped in 3 yrs and having to go back in to Citizens at a much higher rate. They said there are no guarantees and that it very well could happen. By the way, I’m paying more with TH.
Any agent who would consider a Citizens policy compared to THIG needs their heads examined. If for no other reason, THIG allows you to customize the policy to your needs, Citizens doesn’t allow for much.
Tower Hill is way better than Citizens, and Citizens is on a glide path to take a 10% rate increase for the next 4 years anyways, so their rates are going up too. Even if Tower Hill only keeps your policy for 3 years, is there no place else you can go back to besides Citizens?
No there isnt any place to go besides Citizens. My State Farm policy was dropped, a company I would gladly have paid more money for and had every independent agent I could think of try to find a company for my home. No luck so I had my State Farm agent write it with Citizens. I’ve been an agent in Florida for 20 years so I know the market very well. I of course would rather be with Towerhill, whom I dont consider that good, than Citizens. I’m just saying the state is acting like it is a good thing these companies are taking policies out of Citizens and it is nothing but the same thing thats happened in years past. They pay carriers to take policies and then 3 years later those carriers dump the homes and they go back into Citizens. Whats to prevent that. I see only one person understood what I wrote.
What makes your home so difficult to place? Age, distance to water, location? Just curious.
I’ve had the same question. I’ve got numerous carriers with no distance to water restrictions, no age restrictions, etc. Maybe it’s a coverage A problem? Maybe a good 4-point can’t be had?
Older, frame, location. Mr. Solvent if it didn’t have a good 4 point, Citizens wouldn’t have taken it.
Citizens should try and protect Florida residents by only allowing carriers that are rated at least A- by Best’s and have at least 75 million in surplus to take out policies from them. That being said, I don’t think any carriers in this regard would be dumb enough to participate in any take outs!!!!
I wanted to know the names of the 8 private companies that are insuring properties from the Citizens Pool Insurance fun.