Is Citizens insurance backed by the state of Florida?
Citizens is funded by policyholder premiums; however, Florida law also requires that Citizens levy assessments on most Florida policyholders if it experiences a deficit in the wake of a particularly devastating storm or series of storms.
Does the State of Florida provide homeowners insurance?
The state of Florida requires insurance companies to offer discounts for protecting your home and mitigating damage that may be caused by hurricane-force winds. There are specific mitigation steps that you can take to help protect your home and family during a hurricane.
In what area is coverage available through the Citizens Property Insurance Corporation quizlet?
Coverage is provided for eligible risks using " standard" homeowners forms HO-3, 4, 6 and 8 and dwelling fire forms DP1 and DP3. Citizens Property insurance Corporation: Coverage are available for buildings under construction, but only if intended to be occupied by the name insured.
What is the public purpose of the Citizens Property Insurance Corporation?
About Citizens
In 2002, the Florida Legislature created Citizens Property Insurance Corporation (Citizens), a not-for-profit alternative insurer, whose public purpose is to provide insurance to, and serve the needs of, property owners who cannot find coverage in the private insurance market.