Citizens Insurance Company was founded initially as a nonprofit organization decades ago. It started out serving local residents with the affordable insurance coverage they often could not find elsewhere.
A similarly named company, Citizens Property Insurance, serviced Florida. 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.
Most 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. Citizens Home Insurance was one of the few insurers that committed Florida residents. The company has provided coverage to Floridian’s for decades.
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 without any coverage at all. 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. The company has insured over one million Floridians over the past ten years. They have helped numerous families that could not obtain coverage anywhere else get covered.
Citizens Offer Now No Deposit Insurance
Due to increased demand from policyholders, Citizens now offer instant car insurance with no deposit in recent years. Citizens’ very cheap car insurance with no deposit policies has become very popular due to their low out-of-pocket upfront expense.
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. Get a quick quote online. See how easy getting covered with the cheapest auto and home bundled policy can be. To get started, just enter your zip code.
One of the best secrets to saving money on your insurance is to bundle your different policies together. If you have a home and vehicle that needs to be insured, you can save up to 30% by combining your policies into one umbrella plan. A friendly representative can even assist you in moving your coverage over to Citizens.
Call toll-free to get a free over-the-phone quote and see how cheap Citizens Home Insurance is. Best of all, the entire process only takes about ten minutes, and we do almost all of the work.
Michigan Home Insurance
In addition to Florida, where the carrier is based, Citizens Property and Casualty Insurance have cheap home insurance in Michigan, Louisiana, and Florida. We also provide quotes in all fifty states with our online insurance partners. Check out our low rates now. 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. All you need is an internet connection and just 5 minutes of your time. You can even use your smartphone to get quoted. If you prefer to call, friendly phone representatives are standing by to help you obtain a free auto or home insurance quote or with any question, you might have.
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, 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 that has already approved an initial rate hike of over 100%, with more increases likely to come shortly.
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 insurance rates.
Citizens Home Insurance Company will work with you to discuss all of your options. An 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. 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. They decided to pull out for fear of continued losses. 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 without coverage or with rates that were just too expensive.
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 of the 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 were 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 in 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 to pay 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.
Citizens Insurance Detroit
In the past two years, Citizens Insurance Detroit has met its financial objectives. Citizens Insurance even 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.
Louisiana Citizens Homeowners Insurance Corporation
Another nonprofit government company was set up to serve 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, in addition to cheap car insurance with low deposit requirements. Qualified Louisiana residents can get Citizens Home Insurance as low as $49 per month.
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 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.
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 renew 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 now 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. To get a free, no-obligation quote, visit the website here: citizensinsurance.net.