West of I-95
From the Sun-Sentinel-
Thousands of Florida homeowners insured by Citizens Property Insurance Corp. will soon receive notices that private insurance companies want to take their home policies away from the state-backed company.This could be good news for Florida homeowners, but stance is wait and see. My homeowners' insurance is through Citizens and I live west of I-95. Yesterday the bill for our renewal arrived, it was over $4300. It will be interesting to see what any of these companies offer me.
The state Office of Insurance Regulation on Monday gave four Florida-based companies approval to take 173,000 home insurance policies out of Citizens, the state's insurer of last resort and Florida's largest home insurer with nearly 1.4 million policies.
Homeowners will start receiving notices Nov. 7, and policies will start coming out of Citizens Dec. 17. The offers will be at prices comparable or lower than what Citizens charges, though homeowners have the option of staying with Citizens.
The companies approved to take over Citizens policies starting in December are American Integrity Insurance Co. of Florida, Argus Fire & Casualty Co., First Home Insurance Co. and Landmark One Insurance Co.
All the Citizens policies tagged for takeover are west of Interstate 95, outside what is considered Citizens' high-risk coastal zone, said company spokesman Rocky Scott.
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