News & Updates


New Year Brings Lower Coverage Limits in Citizens

New Year Brings Lower Coverage Limits in Citizens

The maximum personal residential coverage limits available from Citizens Property Insurance Corporation decreased as of January 1, 2017, in accordance with a law passed in 2013 providing for a gradual step-down in the limits.  Effective January 1, the following risks are no longer eligible as new business or renewals:

  • A structure that has a dwelling replacement cost (Coverage A) of $700,000 or more;
  • A single condominium unit with a combined dwelling and contents replacement cost (Coverage A and C) of $700,000 or more; or
  • A tenant contents policy with a Coverage C limit of $700,000 or more.

The Florida Office of Insurance Regulation previously determined there is not a reasonable degree of competition in Miami-Dade and Monroe counties.  Therefore, these counties are exempt from the decreased coverage limits, and maximum limits of $1 million continues to apply in these counties.