As of 5:00 a.m. (Miami time) on Saturday, October 10th, Citizens Property Insurance Corporation has lifted the restriction that halted the issuance of new home insurance policies and the expansion of existing coverage in Florida due to Hurricane Isaias. The insurer confirmed through an official statement that all regular operations have been resumed.
This decision ends the statewide restriction implemented at 11:05 a.m. on Wednesday, October 7th. During this period, Citizens' agents were unable to formalize new coverage or make changes that increased policy protection, regardless of the requested start date.
Implications for Homeowners and Buyers
For those needing a Citizens policy to insure a property or finalize a real estate transaction, they can once again proceed with their insurance arrangements through an agent. The temporary restriction on requesting increased coverage on existing policies has also been lifted.
Nonetheless, this reopening does not imply automatic approval of pending applications nor does it ensure that a new policy will cover damages that occurred before its effective date. The announcement does not provide for retroactive coverage: each application must meet the insurer's requirements and applicable conditions. It is advisable to confirm with your agent about the issuance of the policy and its effective date before considering a property insured.
Understanding the Impact of the Suspension
The suspension due to Isaias affected the initiation of new policies and certain coverage increases but did not result in the cancellation of policies already in force. Claims for damages by those with active insurance are handled separately, subject to the conditions of each individual contract.
The lifting of this suspension pertains specifically to Citizens and should not be regarded as a blanket statement for all private insurers in Florida, who may impose their own restrictions.
Earlier, CiberCuba reported on the suspension enacted by Citizens on October 7th. Updates from the company can be found on its official contracting alerts page.
FAQs on Citizens Insurance Policy Resumption in Florida
What does the resumption of Citizens policies mean for homeowners?
Homeowners can now proceed with purchasing new insurance policies or increasing coverage on existing policies through Citizens agents, as the temporary restrictions have been lifted.
Are new policies from Citizens automatically approved?
No, each application must fulfill Citizens' criteria and conditions. Approval is not guaranteed, and coverage will not apply retroactively to events before the policy's effective date.