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Lexington Insurance Company announced that they will discontinue home insurance, sending another 8,000 property owners to search for a new insurer. Lexington specialized in homes worth $1+ million and Citizens will only insure property values less than $700,000, so Citizens was not an option.
Data from Citizens, the state-chartered property insurer of last resort for homeowners who can’t find coverage in Florida’s shaky home insurance market, show the company dropped 2,267 policies ...
The proposal, in part, would lead to an average 13.5 percent rate increase for the most-common type of Citizens policy, known as homeowners’ “multi-peril” coverage. Condominium-unit owners ...
A report from Weiss Ratings, a Palm Beach Gardens ratings agency, found that the state-backed insurer of last resort closed homeowner claims without a payment 50.4% of the time in 2023.
In 2019, Citizens Insurance, the state-created and taxpayer-backed insurance company of last resort, ordered 2,200 home inspections. By the end of 2023, the company estimates that it will have ...
Florida homeowners who hold Citizens Insurance policies will have more takeout options. Here are the insurance companies. ... Florida Peninsula began writing home insurance in Florida in April ...
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