WEST PALM BEACH, Fla. — Citizens Property Insurance is continuing an aggressive effort to reduce policies, moving just under 100,000 to private insurers in the first three months of 2025.
The state-backed insurer of last resort stood at 936,182 policies at the end of 2024 and reported 840,222 on March 28.
From mid-March to the end of the month, Citizens managed to move over 10,000 policies in its take-out program.
The takeouts are in the form of offers from approved insurers that policyholders receive by mail.
If the new offers are higher than 20% of the current Citizens premium, policyholders can refuse the transfer.
In March, Florida's Office of Insurance Regulation approved three companies — Patriot Select, Slide and Mangrove — to make take-out offers on over 135,000 policies later this year.
South Florida typically has had the highest concentration of Citizens policies. So, if you recently received a take-out offer or had to decide on one, I'd like to hear from you. Email me at matt.sczesny@wptv.com
Matt Sczesny is determined every day to help you find solutions in Florida's coverage collapse. If you have a question or comment on homeowners insurance, you can reach out to him any time.
