Florida’s ongoing insurance crisis has left more than half a million homeowners relying on Citizens Property Insurance Corporation, the state’s insurer of last resort. As private carriers withdraw and premiums skyrocket, Citizens has become the only option for many.
Florida homeowners insured by Citizens Property Insurance Corp.—the state’s insurer of last resort—are discovering that challenging a property insurance claim denial is an uphill battle. Recent investigations show that Citizens has routed more than 1,500 disputes into a mandatory arbitration system where it wins over 90% of final hearings.
Texas homeowners are facing yet another hurdle in the state’s insurance crisis. In May, Lemonade announced it would no longer sell new home and condo policies in 12 counties.
Windstorm insurance protects homeowners against wind-related damage from events like hurricanes, tornadoes, hailstorms, high-speed winds, and derechos. Coverage may vary considerably depending on your state, region, or insurer.
Despite a court ruling and regulatory sanctions, California’s insurer of last resort, the California FAIR Plan, continues to deny smoke damage claims from homeowners affected by the January wildfires. According to a Los Angeles Times review of denial letters, policyholders have been denied coverage for smoke damage, drywall removal, insulation replacement, and other building materials even when testing revealed toxic contamination inside homes (LA Times).
Dealing with hurricane damage is stressful enough. Fighting with your insurance company doesn’t have to be another battle after wrestling with a disaster.
