As Florida’s insurer of last resort, Citizens has consistently tried to connect policyholders with private-market options while providing quality service to those for whom private coverage remains unavailable.

Since 2023, Citizens’ Depopulation Program has successfully transferred more than 900,000 Citizens policyholders to private insurers approved by the Florida Office of Insurance Regulation (OIR). Often, these insurers provide more comprehensive coverage at increasingly comparable premiums.

Interest in the Depopulation Program remains strong as the Florida property insurance market continues to improve. In the coming months, many policyholders will again receive offers from private insurers. As a policyholder with Citizens, it’s important that you understand how the program works and what you need to do.

Here are a few tips to help you make the best decision.

Open Your Citizens Mail – It Matters!

If you are selected to receive an offer, Citizens will send you a Policyholder Choice Offer or Policyholder Depopulation Offer letter. Please read it carefully. These communications contain critical information about private insurance offers that could affect your coverage.

Understanding Your Options

When a private insurer's offer is within 20% of your estimated renewal premium with Citizens, you are not eligible to remain with Citizens. However, if the offer exceeds this 20% threshold, you can stay with Citizens – but you must actively select this option. It will not happen automatically.

How to Stay with Citizens (If Eligible)

If you're eligible and wish to remain with Citizens, you or your agent must respond to the offer letter by the stated deadline explicitly indicating your choice. Follow the instructions provided to confirm your decision. Failure to respond will result in your policy being transferred to a private insurer.

What Happens During Policy Assumption?

If another insurer assumes your policy, your current premium and coverage from Citizens remain unchanged until your policy term expires. Prior to renewal, you'll receive an offer from the private insurer. The "20% Rule" applies at this point, as well. If the private insurer’s renewal premium exceeds Citizens' comparable coverage premium by more than 20%, you may renew with Citizens. However, if the private insurer’s offer is within the 20% rule, you cannot return to Citizens at that point, even if you decline the private offer.

Making an Informed Decision

The offer letter includes detailed coverage comparisons and estimated renewal premiums. Consider these critical factors:

• Private insurers often provide broader coverage options.
• Citizens’ policyholders face potentially higher assessments than private insurance customers if needed to pay Citizens' claims.
• The "20% Rule" protects you from substantial premium increases.
• Private offers are increasingly priced at or below Citizens' premium levels.

Florida’s property insurance market is improving, providing you and other Citizens policyholders with reliable private-market options while helping Citizens return to its established role as Florida’s insurer of last resort.

Taking the time to stay informed is the best way to make a good decision should you receive an offer from a private-market insurer.