Citizens home value calculator

Citizens home value calculator

As you can see from this Sun sentinel article, Citizens Insurance is going to start a program to review the value they are insuring your home for.  Some people feel that they are basing the coverage value of the homes to high.  This should be the actual cost to rebuild the home as it is today.  This is not the sale price of the home.  This is often misunderstood since many of the homes have gone down in value.  Just because there are worth less on the sales market does not mean that they replacement cost of the home has gone down as much.  If the replacement cost is lowered this would cause the homeowner premium to also go down.  If this is true Citizens will see a decrease in the amount they are actually responsible for which will help the problem Citizens is in.  Citizens Insurance does not have enough money on hand to pay for all the losses in the case of a large single storm.  The lowering of the replacement cost will help but only if the amounts they are lowered to are truly the correct amounts.

We don’t want anyone to pay more than they should.   The homeowner needs to be honest with the amount of coverage they need and the insurance company should have enough money on hand to pay for any losses.  There are rules in place to insure  insurance companies can hold up their end of the contract.  It is too bad Citizens does not have to follow the same rules other insurance companies have to.  We encourage you to find an independent insurance agent.  They have many companies for your to choose from  giving you options.  They can explain the differences between the difference between the companies and why one may be better than another for you.  There is a best fit but there is not a best fit for all.

www.fastcheapquotes.com is designed to connect  you with an agent which can help.  We can give you some ball park pricing on line that our agents can then further take and firm up.  Give us a try we are sure you will be happy.

The Gainesville Sun

The Gainesville Sun could not have said it any better. 

Here is the link.


If you are one of the 1.5 million people in Florida who have a citizens policy you should say thank you to the rest of the homeowners in Florida.  If there is even one large Hurricane the rest of the homeowners will be charged with making up the differences.  Since the state does not have enough money to pay for the claims they will tax the homeowners of Florida to make up the difference. 

The example the Gainesville Sun gave "Thus, residents of inland Alachua County — largely insulated from the brunt of hurricanes — are on the hook for any damages done to beachside condos in Miami."

I encurage you to check with your independent insurance agent to help you get a quote for homeowners insurance from a company who has money to pay for your claims.  One that has enough claims adjusters to be able to give you the quick responce you expect even in times of emergency. 

At FastCheapQuotes we can give you an online quote and connect you with  an Independent agent who is anxious to work with you.  If you prefer to use Facebook we have an app you can use. Try it here.

Another one bits the bullet

In an artical that was published by the Palm Beach Post (you can read it here). Another Florida Insurance company has failed.  In the article you can see where this is the 6th largest company in the county and it has failed.  The policies are being picked up by another company.  I  have not heard of that company.  Which is scary if you think about it.  10,000 people are going to get renewal policies from a company that not many people have heard of.  Some may not even know they are getting a new company if they are escrow billed.  The mortgage company will pay the renewal premium and the homeowner may not even know.  This is the time to consider switching companies.  We encourage yo to go to fastcheapquotes and compare rate.  We also encourage yo to compare companies carefully.  Our companies are very well respected companies in the industry and are able to help you when you really need them.  In the case of catastrophe.  Will the other no named copany be there when you need them?

In the same article you can see that Citizens, which is the state run insurance program, they have 28% of the counties policies.  They have omitted that they can't afford to pay claims in the event of a large storm.  Our companies have proven they have the ability to pay.  Please come talk to use and we can show you why our companies are better.  You homeowners insurance is nothing to just ignore.  Our independent agents can find you the best company for your needs.

In an article in the Florida Times Union (you can read it here), they are talking about how underfunded Citizens insurance company is.   If Florida is his with a storm of any size the citizens of Florida will be hit with an assessment which will not be small. 
Here is a quote directly from their website.

If the worst happens
A Category 4 hurricane making a direct hit on Miami or Tampa Bay could fit the definition of a 100-year hurricane.

The $18.6 billion in bonds would be repaid through assessments, with the average Citizen policyholder being hit for $9,400 and the non-Citizens policyholder being assessed $7,100, according to a scenario outlined by Brent Winans, a Delray Beach risk-management consultant. Both could be paid over 30 years, with first-year installments of $1,200 and $360, respectively, and payments of $270 and $230, respectively, in subsequent years.

We strongly encurage you to shop around for your homeowner policy.  Ther are some really good companies out there.  We fell that the companies we represent are some of the best and we can help you with this decision.  Contact use via our website at FastCheapQuotes.