In The News: Florida Approves the Removal of 140,000 More Policies

In Florida’s move to depopulate the state-created insurance group, Citizens Property Insurance Corporation, another 142,500 policies have been approved for removal. This removal is an ongoing effort for the state to move the insureds from the state-run groups into the private insurance marketplace.

The recent approval allows the removal of up to 140,000 personal residential properties, and 2,500 commercial residential properties from Citizens. The policies are from Anchor Property and Casualty, Heritage Property and Causalty, Olympus Insurance Company, and United Property and Casualty Insurance. The take out dates are December 22 ^nd for personal residential, and December 15 ^th for commercial properties.

While it may seem a hassle for those affected by the removal, moving to the private insurance market is a great opportunity. By receiving coverage from the private marketplace you can work with an insurance agent one-on-one to discover your actual needs. Coverage may be more cost effective when you have a licensed agent take a detailed look at your circumstances.

This recent approval brings the number of approved removals to 1,321,193 policies. So far, only 141,647 polices have been effectively been removed.

If you have any questions about if this removal will affect you, please contact Wayne Anthony Insurance. We can help you craft the perfect policy for you and your family.