Thousand of customers of Citizens Property Insurance Corp. might be switched to other insurers without realizing they have a choice.

The state is allowing four private insurance companies to select nearly 100,000 policies to take over from Citizens by fall. Property owners can opt out of the switch, but the process has created confusion among policyholders, according to insurance agents and consumer advocates.

The concern is that new companies do not have the funds to pay Hurricane claims, but Reinsurance covers that by State law! If people took time to understand then they would realize that Citizens has the worst policy in the marketplace and they do not even have Reinsurance themselves. Any carrier is better than Citizens, but I agree the system is not a great one here in Florida.

Please enjoy the full article below and please call L & S Insurance for quotes form our 21 carriers other than Citizens at 1-888-244-7400 for quotes on Home, Auto, Flood, Business & Commercial & Life & Financial products as well.

http://www.sun-sentinel.com/business/personal-finance/fl-citizens-removing-policies-20140811-story.html

 

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