State-run Citizens insurance had worst rate of paying Floridians' claims [View all]

Florida’s state-run insurer paid homeowners’ claims less often than any other insurer in the state last year, with over half of claimants receiving nothing, according to an analysis by a Palm Beach Gardens-based ratings agency.

Nearly 17,000 claims, or 50.4%, filed with Citizens Property Insurance, were either denied for a variety of reasons or didn’t meet the policyholder’s deductible.

That’s more often than either State Farm or Allstate, whose Florida subsidiaries had the highest rate of closing claims without payment among private insurers last year at about 46%.

“For them to be at the very top of the range is unforgivable,” said Martin D. Weiss, the founder of Weiss Ratings, which pulled the data from Citizens’ annual reports.

https://www.tampabay.com/news/florida-politics/2024/11/19/state-run-citizens-insurance-had-worst-rate-paying-floridians-claims/