As Florida’s insurer of last resort, Citizens does not seek to write policies. We help our policyholders find private-market insurance options, which often provide more comprehensive coverage than Citizens. A key initiative in this effort is Citizens’ Depopulation Program.
Citizens expects many policyholders to receive offers from private insurance companies in the coming months through the Depopulation Program. It's crucial that you stay informed and carefully review any communications you receive from us.
IMPORTANT: Open Your Mail
If Citizens sends you a Policyholder Choice Offer letter or a Policyholder Depopulation Offer letter, it's crucial that you read it carefully. These letters contain important details about private insurance offers.
Your Right to Choose
When you receive an offer from a private insurance company that is within 20% of your existing Citizens estimated renewal premium for the upcoming term, you cannot remain with Citizens. But if you receive a private insurance offer that is more than 20% higher than your Citizens estimated renewal premium for the upcoming term, you have the option to remain with Citizens. To do so, you must actively choose to stay – it won't happen automatically.
If You are Eligible and Want to Stay with Citizens
- You or your agent must respond to the offer letter.
- Indicate your choice to remain with Citizens.
- Follow the instructions in the letter to confirm your decision.
If You Don't Respond
If your policy is eligible to stay with Citizens but you don't respond, your policy will be assigned to a private company. Don't miss your chance to make this important decision!
What Happens if My Policy Is Assumed?
If your policy is assumed by another company during an assumption period, your current Citizens premium and coverage will remain in place until your current policy term expires. When your policy comes up for renewal, you will receive a formal renewal offer from the private company.
This is when the “20% Rule” applies. If their renewal premium is more than 20% greater than Citizens’ renewal premium for comparable coverage, you will be eligible to reapply for coverage with Citizens. If their renewal premium is not more than 20% greater than Citizens’ renewal premium for comparable coverage, then you will not be eligible to return to Citizens, even if you do not accept the private market offer.
What to Consider
The offer letter includes coverage worksheets comparing private-market offers to your Citizens policy, including estimated renewal premiums. Consider these factors:
- Private insurance companies may provide more comprehensive coverage.
- Citizens’ policyholders face higher potential assessments (up to 25% of your premium) than private insurance policyholders, if needed, to pay Citizens' claims.
- The “20% rule” discussed earlier protects you from substantial premium increases when considering private offers.
Take Action!
- Open and read all mail from Citizens promptly.
- Review the Policyholder Choice Offer letter or Policyholder Depopulation Offer letter carefully.
- Discuss your options with your insurance agent.
- Make your decision: Accept a private insurance offer or, if you are eligible to remain with Citizens and want to do so, actively choose to remain with Citizens.
- Respond according to the instructions in the letter, either online or through your agent.
Remember, if you're eligible to stay with Citizens and want to do so, you must let us know. Don't let your policy be assigned to a private company because you didn’t respond.
We encourage you to talk to your agent for guidance on your insurance needs. Additional information is available on our website's Depopulation Program page.
