PALM BEACH GARDENS, Fla. — Citizens Insurance has the worst record on paying claims, according to Weiss Research in Palm Beach Gardens.
The agency studied 2023 data from the state insurer of last resort.
"Every which way we slice and dice the data showed that Citizens was at the top of the list in terms of the pace of claims denied," Martin Weiss said.
Weiss said Citizens closed claims in 2023 without payment at just over 50%. He added the trend is rising among private insurers closing claims without payment.
"One factor we believe is probably playing a role is a deliberate strategy to reduce their liabilities for whatever reason," Weiss said.
In response, a spokesman for Citizens pointed out that many recent claims have been the result of flooding.
"Citizens, like most traditional private insurers, does not cover flood damage," the statement read. "Also, while Citizens offers a comprehensive policy, we do not have the 'bells and whistles' that other private carriers may offer."
Citizens customers are also hanging on a decision concerning higher premiums next year — possibly as high as 14%.
That decision by state regulators is already overdue since the new rates would begin on policies renewing in 2025.
Matt Sczesny is determined every day to help you find solutions in Florida's coverage collapse. If you have a question or comment on homeowners insurance, you can reach out to him any time.
Read WPTV's latest "Coverage Collapse" stories below:
-
Study says you have to work this many days to afford deposit on a Florida home
Have you ever wondered how many days you'd have to work in Florida just to save a down payment for a home? A new report by Leave the Key sheds some light on the question.
US inflation steady at 2.4% amid tariff concerns, BLS reports
As inflation holds steady, many economists anticipate potential price hikes in consumer goods in the months ahead as tariffs take effect.
Many families rethinking their spending on subscriptions
Americans are spending more and more money on monthly subscriptions, from Netflix and Hulu to services like DoorDash and meal delivery plans. But CNET has found some easy ways to cut those costs.
Energy costs could rise this summer; what you can do now to save on your bills
As temperatures begin to climb, families are beginning to brace for the heat and the hit to their wallets — thanks to soaring energy costs. Here are some ways to save.
