What should I do if I receive a letter from Citizens with an insurance switch offer? Recently, many policyholders of Citizens Property Insurance Corporation have received letters by mail offering them the option to switch their contracts to private insurance companies.
As it’s known, Citizens is transferring around 300,000 policies, aiming to reduce its current volume of 1.4 million contracts. This transition can bring about stress and surprises for policyholders, but there are steps you can take to ensure a smooth and well-informed transition.
The first step is not to wait for the letter to arrive in your mailbox. If you’re a Citizens policyholder, contact your Univista Insurance agent to assess your homeowner’s insurance situation. Taking proactive action will give you the time needed to understand the implications of your contract of this transition and make informed decisions.
Florida’s new insurance law states that if a private company offers you a rate up to 20% higher than what you pay to Citizens, you will no longer be eligible to maintain your homeowner’s insurance with the state insurer.
However, you should still accept the offer from the private company. Instead, contact your Univista Insurance agent to compare prices and coverages, ensuring you make the best possible decision for your situation.
Customers have until October 5th to respond to the letter with the switching offer. This deadline should be taken seriously, as your response will determine your future course of action regarding homeowner’s insurance. Make sure to dedicate enough time to review and understand the offer and discuss your options with your agent.
Given reports of delays in mailing the letters due to the large volume of affected policyholders, there’s no need to wait for its arrival. Reach out to your Univista agent before the letter arrives to receive guidance on how to proceed. What should I do if I receive a letter from Citizens with an insurance switch offer?
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