Florida Take Out Insurance Companies – How to Avoid Unexpected Surprises

Florida Take Out Insurance Companies – How to Avoid Unexpected Surprises

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Posted: Jan 09, 2009 |Comments: 0
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Florida’s state run homeowners insurance company is Citizens Property Insurance Corporation. The company was formed as a home insurance company of last resort to help consumers who are unable to find coverage in the Florida private home insurance market. Floridians look to Citizens because their home has certain characteristics that make it undesirable to private companies. These factors can be the age of the home, its distance from the coast, the type of construction materials, and the roof type.

It’s a known fact that Citizens Property Insurance doesn’t charge enough in premiums for the risk that it takes. Instead, it depends on a mix of pre-event hurricane borrowing and imposing after the storm surcharges on all Florida home insurance policies if