Citizens insurance review 2024
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At a glance
Bankrate's take
Policyholders who live in Florida and cannot find standard home insurance coverage might consider Citizens as a last resort.
- Available to Florida homeowners who otherwise can not afford home insurance with other carriers
- Offers standalone wind insurance
- Coverage can only be purchased through an agent
- Mitigation discounts available
- Not rated by J.D. Powers for claims satisfaction or customer service
New
- On June 18, 2024, Citizens submitted a 13.5 percent rate increase proposal to the Office of Insurance Regulation for review. If approved this would impact the rate of home, condo, unit owners, renters and mobile home policies.
- As of May 13, 2024 policyholders who are required to purchase flood insurance are no longer required to carry flood coverage on their personal property.
- On January 1, 2024: Citizens opened a catastrophe response center in Panama City to aid customers affected by winter storm Finn and to process claims.
- Effective July 1, 2023: The discovery period in which Citizens can cancel a new business policy if the homeowner has not met the underwriting requirements is shortened from 90 to 60 days. This change does not alter the discovery period for policies obtained through receivership or insolvency.
- Effective July 1, 2023: Citizens can not issue nonrenewals or cancel policies until damage from covered claims is repaired or until one year after the last claim payment, whichever is sooner. Damage caused by wind or hurricanes following a declaration of emergency holds a different provision.
- In December 2022: The Florida Legislature passed Senate Bill 2-A, which includes reform to the Citizens insurance program. To qualify for a policy from Citizens, shoppers must prove that the private market quotes they received are more than 20 percent higher than Citizens’ rate. Additionally, all Citizens policyholders will be required to carry flood insurance, although this step will roll out in several phases.
We want to know what you think about Citizens
Do you have experience with Citizens? Let us know your thoughts.
Citizens home insurance
Citizens Property Insurance Corporation is a Florida-based, government-created not-for-profit insurer that was established in 2002. Citizens home insurance may be an option if you live in Florida and can not find private home insurance or if the one you find is prohibitively expensive. The company is often referred to as a “last resort carrier” and has become an increasingly important part of the struggling Florida home insurance market.
In the last few years, many private carriers have stopped writing home insurance policies in the state. This led the Florida Office of Insurance Regulation (OIR) to create a reinsurance fund through Citizens in August 2022. OIR then granted Citizens a 6.4 percent rate increase for new and renewal home insurance businesses, effective September 1, 2022. Citizens had originally requested a 10.7 percent increase.
Citizens began 2022 with 776,790 policies and ballooned to 1,111,283 by October 2022, a 43 percent increase. Having so many of Florida’s high-risk homes insured by Citizens may create problems in the aftermath of a catastrophic loss. Due to Florida’s depopulation efforts, Citizens reduced its number of policies to 1,193,484 as of May 31, 2024.
Bankrate’s in-depth Citizens Insurance review may help you better understand the importance of this company within the tumultuous Florida insurance market. Among other forms, Citizens sells HO-3 home insurance policies, which are the most common type of policy sold by most home insurance companies in the Sunshine State. These policies cover the structure of your home, detached structures, your personal property, additional living expenses, medical payments and your liability exposure. You may be able to add a few endorsements, too, like sinkhole coverage and personal property replacement cost, for more robust financial protection.
To qualify for Citizens home insurance, you must be able to show that you have not been able to obtain coverage through any Florida insurer or that the cost of a policy from other Florida insurers is more than 20 percent higher than the cost of a Citizens policy. Citizens will also require its policyholders to carry flood insurance, which adds an additional premium. These new regulations were likely put into place to help encourage homeowners to seek private insurance.
Pros and cons of Citizens homeowners insurance
Citizens home insurance fills a critical void in the Florida insurance market. However, since some homeowners have so few choices, they may not have the luxury of selecting the best policy. If you are considering a Citizens policy, you may not have much choice in the matter, but understanding the pros and cons of Citizens Insurance may help you navigate coverage. Here are some of the perks and drawbacks of Citizens home insurance.
Pros
- Available for most homes in areas of Florida with limited or no other insurance option
- Offers stand-alone wind coverage
- 24/7 claim reporting
Cons
- Must go through an agent for quotes
- Premiums are likely to be high
- Home must meet eligibility criteria
Citizens home insurance cost
While the July 2024 average cost of home insurance in Florida is $5,533 per year for $300,000 in dwelling coverage, Citizens may be a cheaper insurance option than private insurers. One of the ways to qualify for coverage with Citizens is to show that the rates for a comparable policy with private insurers are more than 20 percent higher than the rates with Citizens. The July 2024 average cost of home insurance with Citizens is $15,909 per year for $300,000 in dwelling coverage.
Keep in mind that while Citizens rate is 613 percent more than the state average, it isn’t a true apples-to-apples comparison. Citizens is the insurer of last resort, so the bulk of its business is homes that are deemed high-risk for any number of reasons.
| Dwelling coverage limit | Citizens average premium | National average premium |
|---|---|---|
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$150K dwelling
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Citizens average premium
$11,016
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National average premium
$1,354
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$300K dwelling
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Citizens average premium
$15,909
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National average premium
$2,230
|
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$350K dwelling
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Citizens average premium
$15,379
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National average premium
$2,490
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|
$450K dwelling
|
Citizens average premium
$15,551
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National average premium
$3,020
|
|
$750K dwelling
|
Citizens average premium
$16,043
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National average premium
$4,451
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Compare Citizens homeowners insurance rates
Home insurance rates not only vary between states, but also between companies. Some carriers may specialize in certain risks or rate certain claims differently from others. This is why comparison shopping your insurance policy is instrumental in finding a cheaper homeowners insurance rate.
| Company | Avg. annual premium | Difference compared to national average |
|---|---|---|
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$15,909
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+ $13,679 |
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$1,854
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- $376 |
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$1,959
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- $271 |
|
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$1,452
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- $778 |
|
|
$2,325
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+ $95 |
|
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$1,681
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- $549 |
|
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$3,521
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+ $1,291 |
|
|
$1,594
|
- $636 |
|
|
$2,369
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+ $139 |
|
|
$1,827
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- $403 |
Citizens customer satisfaction
When comparing home insurance companies, reviewing financial strength and customer satisfaction may help you determine if you will be satisfied with a carrier's service. Citizens Insurance reviews are scarce, with neither AM Best nor Demotech rating the company for financial strength. In June 2023, Fitch Ratings gave the company a “stable” outlook with a AA rating for the second year in a row, but withdrew its ratings on Citizens FL Security Bonds in December 2023 because the bonds were prerefunded. As it stands now, Citizens’ latest financial report showed a $5 billion surplus at the end of December 2023.
Citizens only exists in Florida. Although there are other companies with the same name in other states, they are not affiliated with Citizens in Florida. As a regional company, Citizens wasn’t rated by J.D. Power for customer or claims satisfaction.
Citizens home insurance customer complaints
The National Association of Insurance Commissions (NAIC) does track complaints against Citizens. For home insurance, the company maintains an NAIC Complaint Index well under the baseline of 1.00. This could indicate that customers are generally satisfied by the service they get from Citizens. As an insurer of last resort, this is a positive outlook for homeowners who have exhausted all other options in the standard insurance market.
Citizens home insurance discounts
Homeowners who want to save money on home insurance may be able to take advantage of discounts through Citizens Property Insurance. There are five discounts available through the carrier. In order to qualify for many of these discounts, you must get a home inspection first. Below are some of the most impactful discounts that Citizens offers:
- Florida building code compliance discount: If your home was built on or after January 1, 2002, you may qualify for this discount based on the building codes your home was constructed under. If your home was built prior to 2002 but you have an updated roof that meets the 2002 Florida Building Code, you may also qualify.
- Monitored alarm system discounts: If your home has a centrally-monitored fire or burglar alarm, or both, you may get a discount. Centrally-monitored alarms automatically alert emergency services to dangerous situations.
- Roof construction discount: You may save on your Citizens policy if your roof has certain construction features, although you might need to provide the results of a roof or wind mitigation inspection to qualify. If you’re already getting the building code compliance discount, you likely won’t qualify for a separate roof discount.
- Wind mitigation discount: If your home has documented wind-damage mitigation features, you could qualify for a lower rate. Examples include storm shutters and doors that are designed to withstand projectiles.
Compare Citizens with other insurers
Keep in mind that not all companies are available in all areas of Florida. Eligibility may also be restricted based on your home’s unique features. Talking with an agent from each company is the best way to know if you qualify for coverage and if the coverage will fit your needs.
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Featured
Citizens
Not scored
Bankrate scores primarily reflect a weighted rank of industry standard ratings for financial strength and customer experience, in addition to average quoted rates. A secondary assessment of each provider's online and mobile resources and policy management options also contributed to overall ratings
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Kin
3.2
Bankrate scores primarily reflect a weighted rank of industry standard ratings for financial strength and customer experience, in addition to average quoted rates. A secondary assessment of each provider's online and mobile resources and policy management options also contributed to overall ratings
Cost & ratings 3.5Coverage 4.3Support 0.5 |
State Farm
4.3
Bankrate scores primarily reflect a weighted rank of industry standard ratings for financial strength and customer experience, in addition to average quoted rates. A secondary assessment of each provider's online and mobile resources and policy management options also contributed to overall ratings
Cost & ratings 4.4Coverage 3.9Support 4.4 |
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OVERVIEW
Bankrate identified key carrier features, coverage offerings, discounts and more
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Citizens may be the only option for Florida homeowners who can't find affordable home insurance with Florida-authorized insurance companies.
However, Florida homeowners who can secure a standard homeowners policy at a rate within 20 percent of a similar Citizens policy are not eligible for Citizens coverage.
Read More
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Kin operates in some of the more high-risk states: Alabama, Arizona, Florida, Mississippi, Louisiana, South Carolina and Virginia. Kin could be a good option if you value innovation, as the company takes a tech-forward approach to rates and claims that may appeal to homeowners looking for a non-traditional insurance experience. Kin doesn’t have a mobile app, though, and its small size precludes it from most third-party reviews. However it does have an A (Exceptional) rating from Demotech, a company that rates insurance providers on financial stability.
Read More
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State Farm may appeal to homeowners who like working with a local agent. As the country’s largest property and casualty insurer, State Farm is backed by A++ (Superior) AM Best financial strength and high third-party customer and claims satisfaction ratings. However, State Farm’s eligibility requirements in Florida may be strict, so not all homeowners will qualify.
Read More
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STANDOUT FEATURES
These features are some of the carrier’s most impressive
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Wind mitigation discounts
Coverage for high-risk homes
Renter and mobile home insurance
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Covers hurricane-prone states
Flood insurance
Tech-forward underwriting
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Local agents
Roofing discounts in some states
Decent customer satisfaction
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AVG FULL COV. AUTO RATE
Average national annual cost of a full coverage auto insurance policy
|
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| No rates available | No rates available |
$2,524 |
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J.D. POWER AUTO SCORE
J.D. Power’s Auto Claims Satisfaction Study assesses customer satisfaction with the claims experience on a 1,000-point scale
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| Not Scored | Not Scored |
882/1000 |
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AVG HOME RATE
Average national annual cost of a home insurance policy with $300K in dwelling coverage
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| $15,909 | No rates available |
$1,854 |
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J.D. POWER HOME SCORE
J.D. Power’s Property Claims Satisfaction Study assesses customer satisfaction with the claims experience on a 1,000-point scale
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| Not Scored | Not Scored |
829/1000 |
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AM BEST RATING
AM Best ratings assess companies’ financial strength based on historical ability to pay out claims, among other financial obligations
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| Not Scored | Not Scored |
A++(Superior) |
Why you can trust Bankrate
Read our full methodologyOur insurance editorial team includes licensed agents with decades of combined experience, and we used our intimate knowledge of the industry to conduct this in-depth Citizens insurance review.
46
years of industry expertise
122
carriers reviewed
34.5K
ZIP codes examined
1.2M
quotes analyzed
Is Citizens a good insurance company?
Citizens insures Florida homes that many other carriers shy away from. For homeowners in coastal areas and other storm-prone parts of the state, Citizens may be the only way to get home insurance coverage. As Florida’s home insurance market continues to fluctuate, Citizens may allow homeowners to obtain some measure of financial protection. However, Citizens does have a high NAIC Complaint Index, its policies are more basic than you could find elsewhere and you will eventually be required to buy flood insurance to get or maintain a Citizens’ home insurance policy. Remember that Citizens isn’t designed to be an insurer of choice, but rather an insurer of last resort.
What are real-life customers saying about Citizens?
Reading customer reviews and candid messages among policyholders is another good way to learn how they feel about their insurance provider. Citizens is unique in that most of its customers don’t have a choice to go with another carrier, and they all were deemed “high-risk” by other carriers. Recent reviews aren’t readily available on most sites, but Reddit has the most current posts.
Most of the reviews concern the rising cost of insurance and Citizens' efforts to depopulate their book of business. To provide some context for the following reviews posted on Reddit, keep in mind that Citizens is legally required to move any policy off the books that has a valid insurance offer priced within 20 percent of the current Citizens policy premium. A valid concern of most policyholders is what happens after their new insurance company renews their policy the following year.
*The quotes and citations included on this page have been verified by our editorial team and are accurate as of the posting date. Outlinked content may contain views and opinions that do not reflect the views and opinions of Bankrate.
Citizens company details
Citizens policies are sold through independent partner agencies in Florida and their appointed agents. If you need to find an agent, adjust your policy or file a claim, you can find Citizens’ contact information listed below:
- To purchase a policy use Citizens’ Agent Look-up Tool
- To ask questions, file a claim or make a payment, call 1-866-411-2742
- Company website: citizensfla.com
- Online payments available on Citizens’ website
- Email contact available by topic
- Claims mailing address:
Citizens Property Insurance Corporation
P.O. Box 19700
Jacksonville, FL 32245-9700
State availability
Citizens Property Insurance Corporation is only available in the state of Florida.
Citizens tools and benefits
Citizens' primary focus is to provide property insurance for people who can not purchase it through the private market. That said, they have a number of coverage options applicable to this particular high-risk market.
- Commercial properties: Citizens can offer multiperil and wind-only policies to qualifying commercial properties that are used for residential purposes such as apartment buildings and retirement community buildings. These policies exclude personal liability coverage. Non-residential commercial properties may qualify for wind-only policies.
- Sinkhole loss coverage: Sinkholes and other ground subsidence losses are excluded from most home insurance policies. This optional endorsement can provide coverage for structural damage resulting from a sinkhole loss.
- Personal property replacement cost: Standard home insurance policies provide coverage for personal property at actual cash value (ACV), which takes into account depreciation. This optional endorsement will pay to repair or replace your personal property at replacement cost value, minus your deductible.
- Increased limits for ordinance or law: There are times when a home is damaged in a covered claim and the state requires the repair to include updates to meet current building codes or laws. The increased cost is usually excluded from most home insurance policies and this optional coverage can help you bridge the gap between your claim payout and the added cost of the required updates.
Frequently asked questions about Citizens
