Clearinghouse - Public
Web Content Display (Global)
The Property Insurance Clearinghouse is an innovative program that explores private market insurance coverage for consumers who believe Citizens may be their only insurance option.
The clearinghouse program:
- May include more personalized and comprehensive coverage options than what is available through Citizens
- Compares private-market offers that may cost less than comparable coverage from Citizens
- Gives customers who receive private-market offers the opportunity to reduce their assessment risks in comparison to Citizens policyholders
The clearinghouse program helps agents establish eligibility prior to placing or renewing a policy with Citizens. Agents should submit applications and quick quotes directly to PolicyCenter®.
To comply with the clearinghouse program required by Florida law, agents should use one of the following to determine if the new-business risk is eligible for coverage with a private market insurer:
- A comparative rater
- Quotes or declination of coverage received directly from private market carriers
The applicant is eligible for a Citizens policy if one of the following criteria is met:
- No private market insurer is willing to offer coverage at its approved rates.
- The premium for coverage offered by private-market insurers is more than 20% higher than the premium for comparable coverage from Citizens.
The applicant is ineligible for a Citizens policy if:
- The premium for coverage offered by a private market insurer is not more than 20% higher than the premium for comparable coverage from Citizens
A copy of the rate comparison or private carrier’s quote and/or declination of coverage must be submitted with the application. Use the Quick Quote functionality to create a comparable quote.
The following public services can help consumers and agents identify available private market coverage: