Citizens Insurance Florida-- Opt-in

[cookingqueen123]

I got one of the dreaded takeover letters yesterday. I now have 30 days to decide if I am going to opt-in back in with Citizens or go to the new insurance company, which has no track record in the state of Florida.

I want to stay with Citizens but they have all sorts of threats in the letter, that rates could go up by 45%, decreased coverage ect... basically saying go to the new company. My concern is that the new company gives no rates. Will they increase at renewal time.

I am so confused. What have other Florida homeowners done? Every penny matters.

 

[chobie]

I got one of the dreaded takeover letters yesterday. I now have 30 days to decide if I am going to opt-in back in with Citizens or go to the new insurance company, which has no track record in the state of Florida.

I want to stay with Citizens but they have all sorts of threats in the letter, that rates could go up by 45%, decreased coverage ect... basically saying go to the new company. My concern is that the new company gives no rates. Will they increase at renewal time.

I am so confused. What have other Florida homeowners done? Every penny matters.

I've opted back in 2 years in a row. So far, citizens has not raised my rates. I even got thru a "re-inspection," a few years ago with only having my rate raised $75 for the year.

The letter is rather cryptic, but the new company isn't telling me what they offer, only what Citizen's may do.

I'm sticking with the devil I know.

 

[Cheshire Figment]

Have you tried looking at some of the major insurance companies?

 

[cookingqueen123]

After speaking with my agent, I am opting back in with Citizens. The devl you know is correct. She quoted me a new policy price that was double what I am currently paying. My fear is when renewal time comes, that's what I could be paying.

As far as large companies, forget about it. I can't find a single large company willing to write in Florida. State Farm, USAA (I qualify),Tower Hill. None of them.

 

[ChristineNic]

As far as large companies, forget about it. I can't find a single large company willing to write in Florida. State Farm, USAA (I qualify),Tower Hill. None of them.

I am building a new house in Jax. USAA is the only big carrier that would write a policy for me and their quote was over 7 times higher than the next highest "unknown" company. USAA priced the policy at $7k per year and the unknown Florida company I went with (whose name I don't remember) was $900.