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Insurance Company Limits Coverage, Raises Premiums

Last year, Citizens Property Insurance Corp. made headlines when it implemented a change that would cap coverage of non-weather-related water damage at $10,000 for policyholders who decide not to use the insurance company’s managed repair contractor network. This network consists of handpicked contractors that Citizens hopes will stem the common practice of contractors coercing policyholders into signing over the claim benefits, performing work that is unnecessary, and then filing litigation if the insurer refuses to pay.

Despite limiting the coverage policyholders can receive for water damage if they refuse to go with Citizens approved contractors, the changes seemingly have not stopped the insurer from raising the price of its insurance policy premiums, a move likely to go into effect during September of this year.

You can read more about the changes by visiting the following link on the Citizens website: https://www.citizensfla.com/-/20180612-updated-policy-language-and-new-coverage-limits-for-nonweather-water-related-losses. Remember that homeowners insurance companies may not be on your side when it comes to fixing damage to your home caused by Mother Nature. If you’re having issues, please give us a call and we can discuss your options.

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.