Citizens Property Insurance – Auto Insurance Florida

The Citizens Property Insurance Corporation is a state-owned, not-for-profit company running property and casualty insurance businesses in Florida for homeowners who cannot obtain insurance elsewhere. 

Florida is one of the few areas where natural disasters are regularities, often causing severe home damage. Citizen’s home insurance has been one of the few insurers that have filled the gap, even as most other providers have left the state.   

Private insurance companies are typically reluctant to provide coverage for properties in such hazardous regions for fear of substantial losses. When natural events hit Florida,  the price can be very high. When extreme weather events occur, smaller insurers can face bankruptcy due to a large amount of property damage claims that can run into the billions.  

For example, four major storms hit Florida in 2004, causing total damage of more than $57 billion. The insurance industry took substantial damage that year. Some private insurance companies even decided to pull out of the Florida market in the following year for fears of the possibility of future storms causing a further financial calamity. 

Citizens Property Insurance is one of the few providers that has stayed put in Florida and helped thousands of homeowners get coverage who otherwise could have gone uninsured. Get a free Citizens home insurance quote in under five minutes. To start, enter your zip code.

Citizens Property Insurance and Auto Insurance in Florida

As mentioned earlier, hurricanes and natural disasters are regularities in Florida; this is why it can be challenging for homeowners to purchase property and casualty insurance. For properties on the coastline, rates can be very high, often double the national average for homeowners insurance. 

Citizens Property Insurance is considered a last resort, meaning homeowners can always choose to buy coverage from this company rather than other private insurers.

Citizens home insurance is a not-for-profit insurer, but it is worth mentioning that the insurance rates are often higher than other insurers in Florida. The main reason behind this idea is to avoid competing with private carriers.

Citizens Home Insurance Coverage Options

Citizens Property Insurance even charged the highest approved rate by the Office of Insurance Regulation to prevent such competition while allowing other private carriers to determine their rates. At that time, insurance agents could not write policies through this state-owned insurer if any private provider would provide the coverage. 

With Citizens home insurance, you have options that you can take advantage of. You can cancel coverage at any time and get insured with another carrier or add more limits to your homeowner’s policy. Citizens homeowners insurance makes it easy to make changes to your policy.  

Providing property insurance in a high-risk area is a risky business for insurers. In many cases, homeowners in Florida will find it difficult to get insured by any private carrier. Private insurers, therefore, will probably charge very high premium rates.

The good thing is that some insurers still offer coverage in the state, meaning there is still competition in the market. The price differences between those companies may not be huge, but at least consumers can do some research and comparison shop for the best rate before purchasing a policy.

Citizens Home Insurance Regulations

The Florida Office of Insurance Regulation provides comprehensive information about insurance-related issues and all companies available in the state; however, the website does not provide quotes or any comparison tool. You will need to do that by using an online insurance estimator or comparison tool.

Citizens Property Insurance is a state-owned insurer, but the insurance rates are above the median average in Florida. The best thing is that this company will not go bankrupt or have any urgent financial issue following a natural disaster. Furthermore, you are purchasing coverage from a state-owned company, which means that the state will be the one who uses the money.

The most significant advantage is that the process and policy writing procedures are straightforward; every homeowner in Florida can purchase coverage from this state-owned company. Please remember that Citizens Property only provides coverage for property and casualty, so you may need to find another company to get your auto or health insurance.

Citizens Florida Car Insurance  

As a result of non-accident causes, car damages are usually included in a Citizens comprehensive policy. This type of insurance is optional coverage from any company in almost all cases. The risk of natural disasters exists, yet you can always choose to purchase only the coverage you need.

If your car is damaged in a natural disaster, auto insurance companies will only pay for the damages if you purchased comprehensive coverage. The price is possibly high. Florida has a state-owned insurer when it comes to home insurance. However, it is not an immediate urgency for non-property insurance.

Auto insurance is the same in almost all states; there are only minor differences in rules, penalties, and discounts. Florida is no exception, and the procedures to purchase the coverage are more or less the same between companies.

The Types of Auto Coverage You Can Get

Once again, auto insurance is not property insurance or part of it, and you are allowed to purchase the non-optional coverage only or along with free ones. The non-optional coverage for car insurance in Florida includes PIP (Personal Injury Protection) and PDL (Property Damage Liability). Personal Injury Protection covers the medical expense and income loss caused by a vehicular accident. This type of coverage applies regardless of whether you are a passenger, driver, or simply involved in a car accident.

The PIP even covers your child and other members of the household. Property Damage Liability will cover you if you cause damages to someone else’s property while driving, for example, if you crash your car into someone’s home or vehicle. PDL does not cover the damages to your car. 

One of the best things about car insurance in this state of Florida is the no-fault insurance, meaning your car insurance company will cover your medical expense regardless of who is at fault in the event of an accident.

It is still relatively easy to get your vehicle insured in Florida, and the market is very competitive. When it comes to natural disasters, auto insurance companies offer comprehensive coverage; this policy is designed to cover your losses due to non-accident causes such as vandalism and hurricanes. Other non-optional coverage may include collision, towing, labor, uninsured/underinsured, and rental.

Florida Life Insurance and Citizens Property Insurance

Property and casualty insurance is often the most difficult to get in Florida. If you still hesitate to purchase from Citizens Property Insurance Corporation, you may be able to get a favorable deal from another company or private carrier. Before you decide to purchase, you should know some essential things about buying the right insurance policy.  

1. If you own a home, it needs to be insured.  

Everybody needs to protect their properties from all possible damages regardless of natural disasters, fire, or vandalism. If you own a house, you will possibly use it for the rest of your life. The price for home insurance can be high, but it is a crucial thing to have. Homeowner insurance is property life insurance. Even when you do not have your place and rent a house, you will still need to protect all your assets, such as furniture and cars.

2. Shop Around and Compare the Best Rates Online 

Life property insurance does not come cheap, especially in Florida, where natural disasters are expected. Besides Citizens Property Insurance Corporation, private carriers also provide property insurance at more affordable prices. Also, please remember that Citizens Property Insurance Corporation in Florida can help you get covered if other companies have turned you down before. 

3. Talk to an Independent Citizens Home Insurance Agent 

An independent agent is probably the best person you can work with when it comes to homeowners insurance. This agent knows about auto, health, and property insurance too. Citizen’s home insurance agents work for the clients and put their needs first. Call toll-free to talk to an agent over the phone and discuss all your insurance options. Whether you need the cheapest Citizens Property Insurance or an auto insurance quote, you can get the help you need. Get more information at Wikipedia about citizens property and casualty insurance. Start your free Citizens home insurance quote and get better rates today.