🛑 Florida Homeowners! 👀 Do You Have Citizens Property Insurance? 👀🏠🌴 🌊

ℹ️ Insurance Reminder, Are you a Citizens Property Insurance Company Policyholder in Florida?   If so, you need to know…………. 🏠 🌊

The Florida Legislature passed a law in 2022 requiring many Citizens policyholders to carry flood insurance, even if their homes are not in a FEMA Special Flood Hazard Area. Citizens has been rolling out the requirement over several years based on a home’s insured replacement cost.

🌊Effective January 1, 2027, All remaining Citizens personal residential policyholders with wind coverage must have flood insurance, regardless of replacement cost or flood zone.

Does this apply outside flood zones?

Yes. By January 1, 2027, the requirement applies even if the home is in a low-risk flood zone (such as Zone X), as long as the property is insured by Citizens and has wind coverage.

What type of flood 🌊 insurance is accepted?

Citizens accepts either:

• A policy through the National Flood Insurance Program (NFIP), or
• An eligible private flood insurance policy that meets the statutory coverage requirements.
• Call you insurance Agent to discuss this topic in greater detail.

Important note

There has been legislation introduced that would modify or remove some of these requirements, but unless and until it becomes law, Citizens is continuing to implement the existing phased schedule.

For homeowners in Florida—this is an important planning consideration because even homes outside traditional flood zones may eventually require flood insurance if they are insured through Citizens.

What are some options available to me? 💰

• 💸 Buy an NFIP flood policy. This is the federally backed program and satisfies Citizens’ requirement. It is often the default choice.
• 💸Buy a private flood insurance policy. Citizens accepts qualifying private flood insurance. In some cases, private policies offer:
• • Lower premiums
  • Higher building coverage limits
  • Higher contents coverage
  • Additional living expense coverage (sometimes not available through NFIP)
  • Shorter waiting periods in certain situations
• 💸Shop your homeowners insurance. 🏠 If you’re insured with Citizens, ask an independent insurance agent to shop around, reprice and compare options:
  • Shop for homeowners insurance with another carrier as additional carriers have entered the Florida market.
  • Shop for Flood insurance with another carrier.
  • Consider the fact that Citizens homeowners policy plus flood insurance may be more cost advantageous than a stand-alone homeowners policy with another company.

• Reduce your flood risk. Talk to your insurance Agent on how to mitigate this risk. While this won’t eliminate the Citizens requirement, mitigation measures such as proper elevation, flood vents, or other improvements may help lower flood insurance premiums over time, depending on the property and insurer.

Take action, call your insurance Agent to discuss options in advance of your policy renewal period and/or before the end of the year.