Citizens Insurance Company was initially founded as a nonprofit organization decades ago. It started out serving local residents with affordable insurance coverage that they often could not find elsewhere.
A similarly named company, Citizens Property Insurance, has serviced the Florida market primarily. Due to Florida’s geographical area, natural disasters such as hurricanes and severe flooding are common occurrences. Because of the inherent risk of serving the Florida market, many major US-based Insurance carriers have pulled out. Citizens Home Insurance is one of the only providers continuously serving the Florida market. It provides low-cost rates for homeowners who could otherwise not afford coverage.
Due to the increase in claims as a result of natural disasters like Hurricanes in Florida, most insurance providers deem Florida just far too risky and a potential major money-losing market. The area is prone to severe and powerful hurricanes, which can destroy property and cause extensive homeowner damage, including total structural loss. A major hurricane that affects a largely populated area like Miami could do billions in property damage.
Despite the potential risks, Citizens Homeowners Insurance was one of the few insurers committed to Florida residents. Citizens Insurance has provided coverage to Floridians for decades and has no intention of leaving the area.
Citizens Offer Now No Deposit Insurance
Due to increased demand from policyholders, Citizens now offers instant car insurance with no deposit policies for its customers. Citizens’ very cheap car insurance with no deposit policies has become a popular choice due to their low out-of-pocket upfront expenses. Now Florida residents can find both affordable home and auto insurance with one provider.
Citizens insurance also provides low rates for customers who bundle their home and auto policies together. This has allowed many policyholders to combine their auto and home insurance coverage into one policy with no initial deposit and save 15% or more. Get a quick quote online and see your custom rate in minutes. To see how easy getting covered with the cheapest auto and home bundled policy can be, enter your zip code. It takes about five minutes to fill out a Citizens home and auto insurance quote.
One of the best secrets to saving money on your insurance is to bundle your various together under one provider. If you have a home and vehicle that needs to be insured, you can save up to 25% by combining your policies into one umbrella plan.
There is no obligation to buy a policy with Citizens, and the quote is entirely free of charge. A licensed agent can even assist you in moving your coverage over to Citizens Insurance. Call toll-free to get a free over-the-phone quote and see how cheap Citizens Home and Auto Insurance is. Best of all, the entire process only takes about ten minutes, and we do almost all of the work.
GAP Insurance Coverage
Natural disasters are a significant gap in Citizens insurance coverage for residents with seemingly no other insurer willing to fill the demand. This fact has left many in the Florida region needing more coverage. Thankfully, Citizens Homeowners Insurance offers excellent coverage all across the state of Florida at desirable rates.
Citizens offer low home insurance rates, in large part due to their tax-exempt nonprofit status. Over the past ten years, Citizens Homeowners Insurance has insured over one million Floridians. They have helped numerous families that could not obtain coverage anywhere else. Whether you have a small mobile home that needs coverage or a large estate with multiple structures, Citizens Home Insurance can get you covered with the lowest rates in Florida.
Florida Sinkholes and Home Insurance Coverage
In the last several years, almost everyone in Florida has seen news coverage about the horrible sinkholes that appear to be popping up all over the state. One man was even resting in his bed when a giant sinkhole consumed his house, and sadly, he died.
This frightening and unpredictable force of nature has Insurance companies on edge. Some insurers are raising rates or pulling out of the market altogether.
Many companies have hiked their rates dramatically in areas prone to sinkholes, making home insurance unaffordable to many residents. Even Florida’s low-cost home insurance leader, Citizens auto insurance of Florida, may be increasing rates for policies that cover sinkholes by as much as 300% or more.
In fact, several recent board meetings have taken place. There, an initial rate hike of over 100% was approved, and more increases are likely to come shortly. The good news is Citizens will provide homeowners coverage at the lowest rates possible, even if they live near a sinkhole.
Homeowner Insurance Move Away
In some instances, homeowners have made the tough decision to move away from areas that are deemed risky to possible sinkhole disasters. This warning is not only for safety concerns but also because of the dramatic rise in home insurance rates.
Citizens Home Insurance Company will work with you to discuss your options, even if your residence is near a suspected sinkhole. A Citizens agent will create a coverage plan that best suits your budget and, most importantly, leaves you with peace of mind.
One excellent tip to all new homeowners in Florida is to make sure they make a geographical assessment of the area near and around their future home before purchasing it. Doing this can save you thousands in the long run or lower homeowner’s premiums. Completing this assessment not only saves you money but could also possibly save your life.
Citizens Insurance Saved an Important Region of the Country
One of the most hazardous areas in the United States for natural disasters is the Gulf Coast region. The Gulf Coast area has been inundated with severe storms such as Hurricane Katrina. There have been more than a dozen hurricanes in Florida alone in 2004. Due to its geographical layout, with the Atlantic Ocean on one side and the Gulf of Mexico on the other, Florida can expect severe storms and hurricanes nearly every year.
After 2004, which was one of the most difficult Florida hurricane years in recent memory, many Citizens insurance companies lost significant amounts of money in the state. This vacancy of insurance providers and the skyrocketing premiums of those few companies that continued to serve Florida caused spike rates dramatically. Many homeowners found themselves needing coverage or with rates that were just too expensive. They then decided to pull out of the market for fear of continued losses.
Citizens Property Insurance – Nonprofit Company
Citizens Property Insurance came to the rescue of countless Floridians and filled the market gap at a critical time. The nonprofit entity was created in 2002 with the sole purpose of being an insurer of last resort and not a primary home insurance provider in Florida. After most national insurers had left the region, it forced Citizens Insurance to scale quickly and provide home insurance coverage to over one million residents.
Citizens Home Insurance had to hire thousands of Insurance professionals and customer service reps to handle the big request for coverage. By 2005, the company was the largest home insurer in Florida and also began to offer coverage in Louisiana and elsewhere in the Gulf region.
Taxpayers of Florida
The taxpayers of Florida have been subsidizing the companies’ losses for years. When the economy took a steep dive after the housing bust of late 2007 and the consequent economic decline, massive deficits resulted. Many wondered whether Citizens Homeowners Insurance, as a non-profit entity, could remain viable due to budget constraints.
Even though the financial storm was brutal, there were very few major storms from 2007 through 2012. Citizens Property Insurance Company did not have to pay out substantial claim costs, resulting in the company being saved. Not paying out millions in claims saved Citizens Insurance and all people who relied on their Homeowners Insurance coverage.
Citizens Home Insurance Has Cut Losses in Recent Years
Citizens Home Insurance has made critical assessments on most of the properties insured by the company and, in most cases, initiated rate hikes. These rate hikes have been met with resistance from many policyholders. However, it is an effort to keep the business viable and financially stable.
With few other options available, homeowners often have no choice but to continue paying the increased premiums and hope that rates will go back down one day, although unlikely. Citizens Home Insurance has some of the cheapest rates for Florida homeowners in hazardous areas, with rates that start at under $1,000 a year.
Michigan Home Insurance
In addition to Florida, where the carrier is based, Citizens Property and Casualty Insurance has cheap home insurance in Michigan, Louisiana, and Florida. We also provide quotes in all fifty states with our online insurance partners.
Citizens Home Insurance Michigan has rates for all types of structures. Rates start at under $100. You can also get discounts for having a security system installed, an upgraded roof, and new plumbing and electrical installation.
Citizens Insurance Detroit
Citizens Insurance Detroit has met its financial objectives in the past two years. Furthermore, Citizens Insurance has a large reserve fund set aside to offset potential disasters. Floridians should feel safe that the non-profit is in excellent financial health and continues to provide outstanding service.
In the last couple of years, several large companies, such as Liberty Mutual and Geico, have re-entered the Florida market because of the low rate of natural disasters. These companies have, in some cases, lower rates than Citizens Home Insurance. In total, more than 500,000 policyholders have migrated away from the company to competing insurers.
As long as natural disasters occur at a low rate, expect more and more companies to move to the Sunshine State and home insurance rates to get even cheaper. This benefit is significant to residents needing affordable coverage. Get a free Florida home insurance quote now and see how easy it is to save.
Check out our low rates now where you live. See how much we can save you right from your home or even your office at work. We can get you insured any time of the day or night. You only need an internet connection and just five minutes of your time. You can even use your smartphone to get a free auto or home insurance quote. If you prefer to call, a licensed Citizens Insurance agent will assist you with any questions or concerns you might have.
Louisiana Citizens Homeowners Insurance Corporation
Another nonprofit government company was set up to serve the residents of Louisiana. The carrier is modeled almost precisely like Citizens of Florida. Its primary focus is to help homeowners who could not otherwise obtain property insurance get covered at affordable rates.
In addition to residential coverage, Citizens Insurance Louisiana also offers competitive commercial business coverage, and cheap car insurance with low deposit requirements. Qualified Louisiana residents can get Citizens Home Insurance for as low as $49 per month.
After multiple severe storms caused billions in property damages, many local Insurers went bankrupt. While several insurers have re-entered the market, the area still is primarily underserved by major insurers. Although the rates are currently quite attractive in the area, if another severe storm occurs like the Katrina devastation, expect the company to increase rates throughout the region dramatically.
After multiple storms, several local insurers went bankrupt. This misfortune resulted in many homeowners with unpaid claims and financial ruin in many cases. Thankfully, although slowly, the area is getting back to normal. More and more insurance firms are entering the market and driving down costs. To see rates in your area, get a free online quote.
Many residents are comforted that Citizens Insurance Louisiana will help out with immediate claim assistance when disaster strikes in a minimum amount of time. The insurer has a near-flawless claim payout record in the region.
Citizens Home Insurance Company
In addition to excellent service, Citizens Insurance has some of the cheapest home and auto insurance rates in the area. For more than three decades, most policyholders have renewed their coverage year after year. With excellent personal service and total integrity, the insurer has gained numerous loyal, satisfied customers. The company also has insurance discounts for good drivers, seniors, and military veterans.
Citizens Insurance Company has a well-trained staff of licensed agents that can help you get a policy that suits all your needs at a great price. You can visit the website here: Citizensinsurance.net. Get your free no-obligation quote online today and get covered for less.
Citizens Insurance Company – Auto and Home Coverage
Many residents are comforted that Louisiana’s Insurance Company, in minimum time, will help out with coverage when a disaster strikes. For more than three decades, Citizens Insurance Company has served residents with low-cost home and car insurance coverage.
The insurer successfully sells car insurance in the region to residents and businesses as a unit of the Citizens Insurance Corp. With an emphasis on personal service and total integrity, the company has today a large group of loyal and satisfied customers.
The Cheapest Home Insurance
In addition to excellent service, Citizens has some of the cheapest home and auto insurance anywhere in the U.S. The provider has multiple discounts, like bundling auto and homeowners insurance, that could save you 20% or more. Rates for auto insurance start as low as $39 a month. To get a customized quote, including bundled rates, start by entering your zip code. Citizens Home and Auto Insurance not only provides excellent coverage but serves markets many companies have left. This dedicated service has created longstanding loyalty among customers. Citizens Insurance continues to grow and expand into new markets with the same values it started out with. Citizens Insurance is committed to providing the lowest rates to all customers in the markets it serves. For a free, no-obligation home and auto insurance quote, visit the website: citizensinsurance.net.