Important policy changes for Citizens Property Insurance policyholders begin Friday as the state backed insurer takes steps to control costs that it says threaten to raise rates.
These changes stem from a statewide spike in water damage claims.
According to the changes, in the case of a loss such as water damage, Citizens’ policyholders must take emergency measures to protect property from further damage, though the cost may not exceed the greater of $3,000 or 1 percent of the overall coverage, unless Citizens approves additional measures.
To ensure that Citizens has the opportunity to inspect the damage and confirm coverage, the revised policy rules restrict when permanent repairs can begin. The company can deny reimburse for permanent repairs that begin before 72 hours after the loss is reported to Citizens, unless the loss is inspected by Citizens or Citizens gives approval.