Citizens Opting for Cheaper Property Insurance

Last year, Citizens Property Insurance Corporation was required by the Florida Legislature to offer cheaper coverage options to homeowners. Apparently, such property insurance options allowed citizens to save up to 70 percent on their premiums.

“We just think that’s it’s really important that (homeowners) know what they’re getting and what they’re not,” said Citizens spokesman Michael Peltier.

Robin Westcott, Florida’s insurance consumer advocate, had warned homeowners against flocking to the HO-8 just to obtain the lower rate. However, Westcott conceded that such policy is way better than having no coverage at all.

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