Citizens Insurance moves 355,000 Florida
homeowners to private insurers as takeout efforts continue
State insurer of last resort
reduces policy count from 1.4 million to 482,570 as market
conditions improve |
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Article Courtesy of Channel 5 WPTV
By Matt Sczesny
Published November 9, 2025
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LAKE WORTH BEACH — Citizens Insurance has
successfully moved about 355,000 policies off its books this year, with
42% of those homeowners transitioning to private insurers in Florida.
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The state's insurer of last resort
continues its aggressive depopulation efforts as it works to
reduce financial exposure for Florida taxpayers.
Ramsay MacLeod, a Lake Worth Beach homeowner, received her
first takeout notice in April from Slide Insurance. The
transition comes with a significant financial impact for the
fixed-income resident.
"I received the final notice in April. There was an interest
from Slide (Insurance)," MacLeod said. "And then there was
another one, it's like, this is the demand, you're being
dropped. You are going with Slide."
The takeout offer is capped at no more than a 20% increase
over her current Citizens premium, but the financial burden
remains substantial.
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"I'm on a budget, a fixed income, and for me to get
hit with an increase that I have to come up with almost $4,000 by
February of next year just to still have insurance coverage. That's a
big blow for me," MacLeod said.
The higher costs for homeowners translate to reduced financial exposure
for Citizens and Florida residents who ultimately back the state
insurer. Citizens has dramatically reduced its policy count from 1.4
million policies a couple of years ago to 482,570.
Mark Friedlander of the Insurance Information Institute said lawsuit
reforms have increased competition and stabilized Florida's volatile
insurance market.
"Citizens cannot depopulate without a stable private market,"
Friedlander said.
The improved market conditions now provide homeowners with options they
previously lacked.
"You have options now. Even a year ago, you may have had zero options
other than accepting the takeout. Now you can shop it. ... Many don't
realize, the market is much better," Friedlander said.
With 480,000 policies remaining, Citizens plans to continue issuing
takeout offers in 2026 as it works toward further reducing its policy
count.
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