Citizens Property Insurance Reviews 2024
Is it Florida’s Best Homeowners Insurance?
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Last Updated: January 15, 2024
Florida is a high-risk state where homeowners constantly have to face the unpredictable forces of nature. From powerful hurricanes to tropical storms and flooding, the Sunshine State is no stranger to the perils that threaten residential properties. In such an environment, ensuring adequate insurance coverage becomes a paramount concern for every individual. Sadly, obtaining affordable and comprehensive property insurance in Florida is getting difficult nowadays as many private insurance companies are withdrawing from Florida. Therefore, in this challenging landscape Citizens Property Insurance Corporation has emerged as a lifeline, providing a safety net for homeowners who are struggling to secure coverage in the private insurance market.
Here, we will delve into the company’s history, pros and cons, available products and home insurance coverage, customer reviews, third-party ratings, and ultimately draw a conclusion about this government-created insurance entity.
- No of reviews: BBB (62), Clearsurance (46), Consumer Affair (91), Trustpilot (1,949) | Total Reviews (2,148)
- No of ratings: BBB (2), Clearsurance (2.7), Consumer Affair (1.7), Trustpilot (4.9) | Avg Rating (2.9)
- Citizens phone number: (866) 411-2742
- Address: 6676 Corporate Center Parkway,Jacksonville, FL 32216
About Citizens Property Insurance
Citizens Property Insurance, established by the Florida Legislature in August 2002, stands as a government entity designed to address the insurance needs of Florida property owners who struggle to secure coverage from private insurers. Operating as a not-for-profit, tax-exempt organization, Citizens was created to fill the gap left by the private market. The entity is primarily funded by policyholder’s premiums. To ensure adherence to statutory requirements, Citizens is governed by a Board of Governors, overseeing its operations in accordance with a Plan approved by the Florida Financial Services Commission. This oversight panel comprises the Governor, Chief Financial Officer, Attorney General, and Commissioner of Agriculture.
Pros and Cons
- Homeowners available to those who were denied elsewhere
- Affordable home insurance
- Only available in Florida
- Customer complains about claims processing
- Must meet eligibility requirements set by the company.
Citizens Home Insurance Reviews
In a flood-prone area like Florida, homeowners insurance is considered a necessity to protect homeowners from the potential financial losses associated with flood damage. However, it’s important to evaluate the performance of insurance companies operating in the region. When it comes to Citizens Property Insurance, it is worth noting that the company receives a relatively higher number of complaints for home insurance compared to average insurance companies of similar size, according to the National Association of Insurance Commissioners (NAIC) complaint index. For instance, the complaint index for Citizen is 4.28, which is much higher than Tower Hill insurance, which is the lowest 0.55. Therefore, it’s worth noting that Tower Hill is an exception, as it receives fewer complaints than expected based on its size.
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Home and Business Insurance Coverage
Citizens Property Insurance recognizes that each property is unique, and therefore, offers a diverse range of policies designed to cater to the specific needs of property owners in Florida. These policies are particularly valuable for those who are unable to find coverage in the private insurance market. Whether you are a homeowner seeking insurance for your primary residence or a commercial property owner requiring coverage for a complex of multilevel office buildings, Citizens strives to provide options that align with your individual requirements.
Basic Coverage Types
Covers buildings and individual apartments or condos used primarily as single-family dwellings.
Covers businesses and homeowners associations, as well as large multiunit condominium buildings used for commercial or residential purposes
Wind-only policies, also known as “windstorm-only” policies, are a specific type of insurance coverage provided by Citizens Property Insurance in Florida. These policies focus solely on protecting properties from wind-related damage, typically caused by hurricanes and tropical storms.
|Personal Residential Wind-Only Policies
|Commercial Wind-Only Policies
|Commercial Residential (CR-W)
|Tenant/Renters Contents (HW-4)
|Commercial Nonresidential (CNR-W)
|Condominium Unit Owners (HW-6)
|Mobile Homes (MW-2)
|Mobile Home Dwelling (MD-1)
Citizens Property Insurance Ratings
Citizens Property Insurance demonstrates a solid financial position as reflected in its ratings from prominent rating agencies such as A.M. Best, Standard & Poor’s (S&P), and Moody’s. These ratings provide valuable insights into the company’s financial strength and its ability to meet its claims obligations in the event of a disaster or significant loss.
A.M. Best, a widely recognized rating agency in the insurance industry, has awarded Citizens Property Insurance with an A rating. This rating signifies a strong financial standing and indicates the company’s capacity to fulfill its financial commitments to policyholders.
Similarly, Standard & Poor’s has assigned an A rating to Citizens Property Insurance, further attesting to its financial stability. An A rating from S&P indicates a secure position and suggests that Citizens has a strong ability to pay out claims as and when required.
Actual Reviews from Citizens Customers
I had a great experience with Citizens, and I would go back to them in a heartbeat. I had two claims for interior water damage and they were prompt and efficient.
They’re great service protection and I’d recommend them anytime to everyone and cheap to pay every month and very beneficial to me and my family. I’m very Happy with them now and will keep them for awhile.
During Hurricane Ian, I submitted a claim to my Citizens’ Homeowner’s insurance policy and to date, not only has my claim not even begun to get processed, but they have also not even sent an adjuster to view the property, or even consistently assigned one. I have been told multiple times my claim had been assigned to an adjuster, only to have that name disappear and another name show up with new promises to contact me.
We had both auto and homeowners insurance with Hanover. For insurance policy experience everything went well except when we had wind and hail damage to our roof. When we filed claim, Hanover declined claiming cost of repairs were below the deductible amount. However, the estimate was based on material which is no longer produced.
We have our home, auto and more with Citizens Insurance for years now. Great bundle offers and excellent customer service.Source: BBB, Trustpilot, Clearsurance
Is Citizen Insurance the right choice? While Citizens Property Insurance is a significant player in the Florida home insurance market, it’s essential to recognize that there are alternative options available. Depending on your specific circumstances, you may have to access other insurance providers besides Citizens. However, it’s worth noting that some homeowners may not have any choice but to seek coverage through Citizens, as the company is dedicated to offering insurance solutions to those who have been unable to secure policies elsewhere.
If you qualify for private insurance coverage, exploring the offerings of other best home insurance companies in Florida is advisable. It’s important to consider factors such as coverage options, pricing, customer satisfaction, and financial stability when evaluating these alternative insurers. Keep in mind that the availability of companies may vary depending on your location, and eligibility may be contingent on the unique features of your home.
To determine your eligibility for coverage, consulting with an insurance agent near you from each insurance company is recommended. Agents can provide personalized guidance based on your specific needs and circumstances, helping you identify the most suitable options and understand the eligibility criteria.
Frequently Asked Questions
Is Citizens Insurance only in Florida?
Yes, Citizens Insurance, which is also known as Citizens Property Insurance Corporation, operates exclusively in the state of Florida. It was established by the Florida Legislature to provide property insurance to eligible Florida property owners who are unable to obtain coverage from private insurance companies.
Is Citizens Insurance good?
While Citizens Insurance can be a valuable option for Florida homeowners who struggle to find affordable coverage elsewhere, it is important to consider certain factors. As mentioned earlier, Citizens Insurance is primarily designed to provide coverage to individuals who cannot obtain insurance from private companies. It may be the only viable option for some homeowners to protect their properties.
How is Citizen Property Insurance’s customers service?
The customer service of Citizens Property Insurance can vary based on individual experiences. While some policyholders may have positive interactions and find the customer service satisfactory, others may have had less favorable experiences. It is important to note that there have been complaints about the claims process, which could potentially impact the overall perception of customer service.
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