Florida Association of Insurance Agents Warns of Citizen's Shortcomings

The Florida Association of Insurance Agents (FAIA) has come out with a caveat for those homeowners who use the services of Citizens Property Insurance. They warn that coverage for personal items is limited to 50% of the home's worth, coverage for liability is capped $200,000, medical payments can't exceed $2,000, etc.

This kind of sounds like "sour grapes" to me. The mainstream companies will not write policies here, yet their trade organization is critizing the one company that will insure anyone. I do not feel that these statements by FAIA are aimed at all Floridians. For example, I am pretty sure they do not want to insure many mobile homes or older conventional houses. Citizens is still the only hope for many of these.

The insurance companies have often been accused of "cherry picking", taking the best homes and leaving the rest to fend for themselves. I think what has happened is that some of the "cherries" feel they are getting a better deal from the reformed Citizens, and now the conventional companies are losing customers. To try to get them back they are tossing rocks at Citizens, right from the front porch of the "Glass House" they live in.

In any case. each homeowner has to make his or her own decisions regarding insurance. Just make sure you have all the facts. I am no big fan of Citizens, but am suspicious when the big insurance companies start taking potshots at that company.

If you would like to download the FAIA statement you can do so by clicking on the following link: Download FINALCitizensPolicyCoverage9-26

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