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One comment on “Citizens rate hearing shows facts no match for fury

  1. Kevin says:

    Quote: 2010 Citizens paid out $250 million in claims for sinkholes and collected $32 million in sinkhole premiums .. Now let use the same numbers for Fire claims, theft claims and lost rental income. Using your numbers the insurance company should be decreasing the polices for Fire, theft and lost rental income if they want to increase the fee’s for sinkhole coverage. Not to mention how much profit they have made with the Hurricane coverage.

    Keeping this in mind, The new requirement for sinkhole Activity claims are the same for sinkhole Catastrophic failure and yet they want to charge the customer for Activity failure with the full knowledge that if the client meet the new requirements for his sinkhole activity claim he also meets the requirements for Catastrophic claims.

    In my opinion. If you are going to charge for activity coverage and the home owner has confirmed sinkhole activity they should be able to submit and get a claim paid.

    And lets not forget Citizens is making a large profit each year.

    I have 5 investment properties with confirmed sinkhole activity and damage that I can’t sell and can’t afford to repair. Even though I paid insurance with no claims for the past 5 years.

    kevin