Most homeowners in Florida have their properties insured by the government’s Citizens Property Insurance Florida instead of by other insurers. According to FLASH (Federal Alliance for Safe Homes), many Florida domiciles are susceptible to a number of perils, including thunderstorms, wildfires, extreme heat, tornadoes, hurricanes, and floods; therefore, the state-owned Citizens Property Insurance Florida Corporation is the easier option compared to almost private providers.
The corporation is often considered a “last resort” for homeowners, but the good thing is that it is a not-for-profit insurer. This is a brilliant idea to help homeowners who cannot find or purchase coverage from private providers. Florida is not the only state where homeowner insurance is difficult to get; as a matter of fact, the same thing happens in many southeastern United States.
In the Southeastern United States, such as Florida and North Carolina, many properties are listed under the “hard-to-insure” category, meaning the properties have higher risk factors compared to those in other areas, and the homeowners have to pay expensive premiums for coverage. Due to extreme weather and probable disasters, the houses usually need more expensive risk coverage. Citizens insurance Florida providers never avoid providing such coverage at all. For insurers in North Carolina and Florida, the insurability of all properties located nearby lakes and coasts is always in question. If the properties do get insured, increased monthly premiums are expected.
Find out from Citizens Insurance Florida Company if there is any other thing that affects insurability besides natural disasters
Even if your house is located in a safe place where the impact of natural disasters is highly unlikely to reach it, citizens insurance Florida have some other reasons to categorize your properties as “hard to insure”. In most cases, home insurance is not merely protecting houses from natural disasters, but also vandalism. When your house is at a particular area where crimes are often the issues, you may have difficulties to get it insured. It is worth mentioning that when a house is frequently vacant, a greater risk of crimes such as vandalism exists.
The circumstances or conditions of the properties also affect insurability. Certain facilities in the house, such as swimming pools, ponds, and trampolines, can be problems, especially when you have pets. A combination of pets and those things often create some problems; some pets or dog breeds including but not limited to Rottweiler, Pit Bull, German Shepherd, Siberian Husky, and Chow, often get into trouble when they are nearby swimming pool, ponds, or trampolines.
Of course, you can train the pets to behave or not damage anything, but insurers will still consider animals as high-risk pets. Although the danger is probably not as great as disasters, the presence of high-risk pets in the house can hurt the premium fees. From the standpoint of policy, greater risk means a more expensive price for the coverage.
All things considered, if you have properties in Florida, your best bet to get Citizens Insurance Florida.
This not-for-profit insurer provides coverage even for high-risk properties when other providers simply won’t. There is, however, a small problem; if you have been insured by this insurer, you may need to make changes to the payment concerning deductibles and other related matters due to policy changes and new rules. A number of deductibles also change with the new rules, meaning you may need to consult insurance agents about the specific details.
It is indeed always recommended that homeowners or renters should always compare quotes from many insurance companies to get the best coverage based on the circumstances. You can find an insurance broker or independent agent to make the comparison, but everything must be done before any damage occurs. An agent will be able to get the best insurance coverage for you, but you may need to pay more for the agent’s service. Since Florida is an area where natural disasters are not uncommon, you must get your properties insured as soon as possible.
Once again, Home Owner Insurance from Citizens Insurance Florida is the best place to go. In most cases, every procedure from applying to signing the policies will be quicker because this insurer does not care if your house is exposed to a high risk of damages due to natural disasters. You can rest assured that the home insurance application will be accepted; the only thing to think about is whether you purchase the right type of coverage to protect your properties.
Why CPIC is best in Florida?
The CPIC (Citizens Property Insurance Corporation) started in 2002 as a government’s attempt to accommodate the difficulties of getting insured by companies in the state. The climate in Florida is both exciting and terrifying; it is popular for its sunlight, but hurricanes and heavy rain are also parts of life. As previously mentioned, storms are not uncommon, meaning properties or houses are always in danger of being destroyed.
Some companies will require you to pay costly premiums for the coverage; that said, the protection is possibly not enough considering the risk of damage. Because coverage from private companies is commonly expensive, the CPIC comes in. As a matter of fact, most insurers decided to abandon their businesses in Florida because the claim may result in outrageous expenses. With many providers leaving the state, CPIC is a great choice.
Homeowners also gladly make the switch from their previous insurers to CPIC despite its high monthly premium. Since CPIC is owned by the state, it is also the insurance company Citizens Property own. The main purpose is to protect the people of Florida without gaining any corporate profit. In order to be able to keep doing its job, it has to take a high monthly premium. While some people consider Citizens Insurance Florida a last resort, the corporation is the best option and not to be avoided.
The best thing is that it is safe; when the corporation is your insurer, it is also safe to say that the government protects your properties. Being a non-profit insurer means the monthly premium will not be used for other purposes of any kind. The money it takes will be used merely for insurance. Of course, you are always allowed to choose to be insured by other Florida home insurance firms available, which possibly are cheaper. You can do a little research online to find the most suitable insurer for your properties based on your personal preferences.
Florida is not the most dangerous place to live, but the threats of total property destruction by natural disasters are real. The existence of CPIC makes it easier for anyone who lives in Florida to get their houses insured properly. The weather issues in the state make even some major names in the insurance industry abandoned businesses in the state; it suggests that even the most expensive insurer is not always the most reliable as well.
Citizens Insurance Florida is a clear solution; it will not abandon its own state in times of trouble. In case your house is located in risky places, the homeowner insurance is probably expensive, but the properties, as investments, are always better when well-protected. However, if your house is at a more secure location, you may want to compare some private insurers to get the cheapest rates. The coverage for homes that are not exposed to the danger of natural disasters should be less expensive.
Final Consideration
If you think the premium rates for CPIC is too expensive, you may want to consult an independent insurance agent to get the best homeowners insurance. Such agents do not work for any company but try to give you the best options depending on your circumstances. You can even search online and compare the quotes from many companies available in Florida. As insurance companies compete against each other, the prices for coverage become cheaper also. If your research is thorough enough and you are working with a good agent, there is always a possibility that you get affordable homeowner insurance without spending too much, yet you have the protection you need.