Mitigation Inspections are back and very bad for most. Citizens as well as most carriers are re-inspecting thousands of homes and finding that more than 70% are now going to be charged more money and only 8% will be charged less. This will bring in 5 million in additional premium from people already strapped by increased premiums next year. This venture is costing Citizens almost 900K on the 14K inspections that have already been done to get the 5 million on the back side.More than 44K inspections are still scheduled to be done this year and next and it will keep happening as well. This additional revenue for Citizens along w/ the rate hike that starts 1/1/2011 will be just what Citizens needs to help it’s financial crisis it has been in since the 2005 Hurricane season. If they have issues financially then everyone in Florida will feel the affects. We feel that if poeople choose to go to citizens then this is what will happen to them. Many people do not belong in Citizens and choose to go there because the agent put them there and told them it was a good deal. Let’s see what happens when Citizens needs to start charging 15% surcharges as they can do to those in Citizens and other carriers as well. Our new Governor Scott wants to raise Insurance rates as well by deregulating the State and making Citizens the Insurance carrier of last resort. When our legislator’s in Tallahassee pass this bill(And they will), Citizens rates will jump again and very significantly. Who can afford that?? This is a necessary evil because of the mess Governor Chiles has left us with, but this will be a big year for insurance in 2011. Please read the article byJulie Patel and plaease contact us at L & S Insurance for comparrison quotes;
December 10, 2010
Citizens Property Insurance revoking discounts that will cost 5 million to Florida policyholder’s
Posted by homeinsuranceguru under Citizens Insurance, Governor, Governor Christ, Governor Rick Scott, Home Owners Insurance, Hurricane Updates, Julie Patel, Legislators, Mitigation Inspections, Rick Scott GOP, Tallahassee | Tags: Citizens, Flood Insurance, Florida, Home, Homeowners, Hurricane, Insurance, policy |1 Comment
January 8, 2011 at 12:56 pm
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