[debidibly]

I received a letter today stating that Home Wise would assume my Citizens policy next month. I just renewed my Citizens policy this month. A little background - when I built my home no one was writing policies in this area except Citizens so I had no choice. When I tried shopping around for a new policy this year after getting a ridiculous bill, still no one writing policies in my area.

So now I get this "assumption" letter. They claim that they have rates lower than Citizens (not that I'll get any of my money back for having paid it already). But in the future I may benefit when the policy renews next year.

I contacted my agent who tells me the same stuff I can find on the net. They are A rated and are assuming about 50,000 Citizens policies. My agent also tells me they have great rates. But one thing I need to keep in mind is that if I drop Citizens and something happens to HomeWise I can NOT go back to Citizens for THREE years! Given the history of others refusing to write policies or cancelling this idea doesn't thrill me.

I'm just wondering if others are taking this offer and if so why, or why not. Really any info on HomeWise or handing this situation would be appreciated. I don't want to take the chance of not having insurance if HomeWise backs out of doing business in my area. I also don't want to feel held hostage by Citizens.

[sunrico90]

Here is the website: HomeWise Insurance Group (broken link)

[tampaguy03]

Received the same letter form the Florida Penninsula Insurance, called my agent and she advised me to not send in the letter, and upon renewal I will get a quote from Florida Penninsula, and if I do not like that, we can shop around. She STRONGLY advised me NOT to stay with Citizens. Any input?

[debidibly]

I'm more concerned with not having an insurer of last resort if this HomeWise decides in a year that they don't want to to business here any longer or can't afford it.

What I was told is that if I drop Citizens I can NOT go back for three years. If no one is writing policies but them, they don't have to take me back. I don't want to be without homeowner's insurance in the future.

[debidibly]

I was informed today that if I go with Homewise and they later drop me or go out of business in Florida I do have the option to go back to Citizens but if I CHOOSE to leave Homewise and want to go back to Citizens because say, they're cheaper, that's another story - then the three year rule applies.

Waiting for confirmation on that from Citizens. It's supposedly some unwritten rule.

[gregs]

I live in Fort Lauderdale, non flood zone and windstorm is a 2% deductible. The coverage amount is $172,800. for the dwelling. The renewal premium from Citizen's is $3,396.!!! I recieved a letter from HomeWise insurance which stated that they would be assuming my policy.

My policy renewal date is November 1, I have not received anything from HomeWise which shows my renewal coverage or the renewal premium.

I have spoken with another agent who quoted coveage from Tower Hill and the premium was $3,200.

I have done some updates to my house and the agent recommended that I have a "4 point insurance inspection". Supposedly I could reduce the premium as I have had a new roof in the past 4 years. Unless I can save alot, I don't feel like spending for the inspection.

Has anyone received their policy from HomeWise? Was the premium significantly less?? Did anyone do the 4 point or mitigation inspection?

Greg

[Jareb]

Gregs,
I had the mitigation inspection done recently and just got my revised Citizens bill today. My insurance dropped from $2960 to $1932. The 2 main factors were:1. that the roof was new, plywood was nailed every 6 inches, used peel and stick instead of felt paper and shingles were attached with 6 nails per shingle. 2. Hurricane clips on every stud and rafter. Inspection cost $150 and took 45 minutes.
John

[floridainsurance]

In the past, you were required to take an offer from a private carrier if they made you the offer. In 2007, the law changed to allow Citizens to "compete" with the other carriers in the market. You can go back to Citizens anytime you want for any reason.
Many agents recommend that you stay out of Citizens for many reasons including the difficulty for the agent in dealing with Citizens and the poor customer service record of Citizens, especially in the 2004/2005 hurricanes.

[garyrowl]

Tower Hill is a great company if you never plan on making a claim. They fight unfairly when a claim is filed and underpay when they finally settle. They are the one of the MOST difficult companys to deal with.

[Dee74]

Tower Hill is a great company if you never plan on making a claim. They fight unfairly when a claim is filed and underpay when they finally settle. They are the one of the MOST difficult companys to deal with.

They are all great companies while taking premiums. They all show their true "we are all crooks" colors if you have a claim. Legal thieves!