Are you among the many homeowners that also happen to be a Citizens Property Insurance Corp. policyholder? If so, heads up. According to an Insurance Journal article, the last resort insurer is gearing up to resume its cancellations and nonrenewals after they were temporarily put on hold back in March following the COVID-19 outbreak.
Customers that are billed directly and have past due premium accounts are required to make payments by the 25th of August if they wish to avoid having their policies canceled. Citizens is willing to make payment arrangements for policyholders that cannot pay the past due amounts but this will be limited only to those that have been affected by the outbreak. Furthermore, these payment arrangements will not be an option available to new policyholders or existing policyholders with fewer than three months left on their term.
How do you feel about Citizens moving forward with policy cancellations and nonrenewals?
To read more, please visit Insurance Journal at the following link: https://www.insurancejournal.com/news/southeast/2020/07/14/575403.htm.
This information is provided by Miami insurance attorney Alonso & Perez, LLP. Our areas of practice include bankruptcy, insurance litigation, foreclosure defense, immigration law, and more. Call 305-676-7545 to speak with one of our attorneys or an insurance lawyer Miami and receive a free consultation We look forward to working with you.
This information is provided for educational or informational purposes only and should not be construed as legal advice. The information is not provided in the course of an attorney-client relationship and is not intended to substitute for legal advice.