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Citizens developed the Property Insurance Clearinghouse renewals program to help our policyholders find private-market policy options that may provide comparable or better coverage with premiums equal to or less than those offered by Citizens. All private-market companies participating in the clearinghouse must be authorized to do business in Florida by the Florida Office of Insurance Regulation.
The following Citizens policy types are entered into the clearinghouse prior to renewal:
- Multiperil and wind-only homeowners (HO-3 and HW-2)
- Multiperil and wind-only condominium-unit owners (HO-6 and HW-6)
- Dwelling Property 1 and 3 (DP-1 and DP-3).
- Excludes DP-1 and DP-3 tenant contents and condominium-unit policies.
The following policy types will be entered into the clearinghouse for policies renewing on or after July 22, 2020:
- Mobile Homeowners 3 (MHO-3)
- Mobilehome Dwelling Property 1 (MDP-1 D)
Additional policy types will be added over time.
Citizens Renewal Eligibility
If you are eligible to renew coverage with Citizens and also received private market offers of coverage through the clearinghouse, information about these offers will be included in your Citizens renewal offer packet.
Citizens strongly encourages you to consider carefully the benefits of accepting private-market coverage. These can include more comprehensive coverage options and/or a significant reduction of your Citizens assessment risk. Contact your agent for more information about clearinghouse offers included with your Citizens renewal offer.
Your agent may contact you to request additional information about your home if private-market companies offer you coverage through the clearinghouse. It is critically important that you answer any questions to the best of your ability and in a timely manner.
Based on the information you provide to your agent, the clearinghouse will determine whether you are eligible for the private-market offers you received, then make a final determination regarding your eligibility to renew coverage with Citizens.
Private-Market Offers Available
If you have one or more private-market offers with premiums equal to or less than your Citizens renewal policy, you are ineligible to renew coverage with Citizens. A Citizens nonrenewal notice will be mailed to you approximately 45 days before your policy's expiration date.
- If your agent is unable or unwilling to assist you in purchasing a private-market offer of coverage extended to you thorough the clearinghouse, the insurance company that extended the offer may contact you directly.
No Private-Market Offers Available
If no private-market offers are available, or all available offers have higher premiums or coverage that is not comparable to your Citizens renewal premium, you are eligible to renew your Citizens policy. A Citizens renewal offer will be mailed to you approximately 45 days before your policy renewal date.
- If additional clearinghouse offers are available, information about these offers will be included in your Citizens renewal packet.
Review Your Options
You and your agent should review all your insurance options to determine what coverage best meets your insurance needs. You are not required to accept any clearinghouse offer. However, if the clearinghouse determines that you are ineligible to renew coverage with Citizens, you must purchase coverage outside of Citizens if you want to insure your home. Your agent can determine what additional private-market options are available and help you select the best coverage for your home.
* All risks are subject to approval by Underwriting and must meet all Citizens Underwriting eligibility guidelines, as outlined in Citizens' Underwriting Manuals.
Header - Renewal Eligibility
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As required by Florida law, at least 60 days before your policy's renewal date, the clearinghouse will seek offers to insure your property from private-market insurance companies participating in the clearinghouse. Based on the offers returned:
You are eligible* to renew your Citizens policy if one of the following criteria is met:
- No comparable private-market offers of coverage are received
- Comparable private-market offers of coverage are received, but the premiums are higher than your Citizens renewal premium
You are ineligible* to renew your Citizens policy if:
- At least one comparable private-market offer of coverage is received with a premium equal to or less than your Citizens renewal premium
The following public services also can help consumers and their agents identify available private-market coverage: