Clearinghouse - Public
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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: