I need information about Citizens Insurance Company, everything the good news and the bad things. ?
I am from Ecuador and this company offer a nice package of insurance and i would like to be part of this but i have doubts about a foreign company.
I am from Ecuador and this company offer a nice package of insurance and i would like to be part of this but i have doubts about a foreign company.
February 27th, 2010 at 4:36 pm
Are you talking, Citizens, owned by Hanover Insurance Group, or Citizens, the Florida state fund?
If you’re buying house insurance in Florida, CITIZENS is your ONLY choice – no one else is writing it.
They are heavily underfunded – about $20B in assets, another $20B in credit lines, and $800B in insured properties. The last big hurricane to hit FL, it took them 9 – 12 months to pay the claims.
But like I said, if you’re talking FL, you have no other options.
If it’s the Hanover Group company, not a problem – but they don’t write in FL.
February 27th, 2010 at 5:28 pm
If you are looking in Florida for insurance CITIZENS doesn’t have to be your only option. I write home insurance all day long and I have several other companies depending on the age and location of the home. St. Johns Insurance Company, Universal Property & Casualty and Edison Insurance. Where are you located?