canadafloridaThe reference manual

Chapter 02 · Topic 02.3 · Insurance

Citizens Property Insurance: Florida insurer of last resort

Citizens (F.S. §627.351(6)) covers 1M+ FL policies. 3 lines: HO-3, Wind-only HRA, Commercial. Caps $700K ($1M Miami-Dade/Monroe). Glide path 15%/yr, 2026: −2.6% avg. Assessments up to +25%.

Published 2026-04-28Last reviewed 2026-04-29Reading time ≈ 10 minAuthor CanadaFlorida Editorial Team

Direct answer · 60-second summary

The 60-second version

Citizens Property Insurance Corporation is Florida's public insurer of last resort, created by F.S. §627.351(6) in 2002. Covers 1M+ policies in 2025-2026. Three lines: HO-3 multi-peril (standard residential), Wind-only (coastal HRA zones where private refuses wind), Commercial-residential. Coverage cap: $700,000 replacement value for residential outside Miami-Dade and Monroe; $1M in Miami-Dade and Monroe. 2026 glide path: Citizens BOG recommended a 2.6% average decrease (first decrease since 2015), alongside the legal 15%/year cap (Senate Bill 76, final increment January 2026). After a major hurricane deficit, Citizens may impose assessments up to +25% of annual premium on all FL policyholders (private included) — F.S. §627.351(6)(b).

REFERENCE · ACRONYMS USED IN THIS GUIDE

Acronyms used in this guide

Governance and status

  • Government nonprofit entity of the State of Florida.
  • Governed by a 9-member BOG (Board of Governors): 3 by Governor, 2 by Senate President, 2 by House Speaker, 2 by CFO.
  • Audit by State Auditor.
  • Offices in Tallahassee and Jacksonville.
  • Official site: citizensfla.com.

Three product lines

LineCoversZone
Personal Lines (HO-3, HO-6, DP-3)Multi-peril: fire, theft, wind, plumbing, etc.Statewide outside HRA wind-only
Wind-onlyWind + hail onlyHRA (High Risk Account) — Keys, certain barrier islands
Commercial-residentialMulti-peril on 4+ unit multi-residentialStatewide (similar to personal)

Coverage caps

  • Outside Miami-Dade and Monroe: maximum replacement value $700,000.
  • Miami-Dade and Monroe: $1,000,000.
  • If your home is worth more, you need an excess policy or surplus lines coverage on top.
  • For HO-6 (condo): limit varies by unit value, but Citizens caps still apply.

2026 rates and glide path

  • Glide path: F.S. §627.351(6)(n) caps annual policy increase at 15%/yr (final tier reached January 1, 2026).
  • 2026 rates recommended by BOG on December 10, 2025: 2.6% average decrease on personal lines (first decrease since 2015).
  • OIR approval required before going into effect.
  • Zone variations: decrease is sharper inland; coastal zones see modest or flat changes.

Deficit assessments

If Citizens records a deficit after a major hurricane season, F.S. §627.351(6)(b) authorizes multiple assessment tiers:

  1. Citizens Policyholder Surcharge: up to +15% on all Citizens insureds.
  2. Regular Assessment: up to +2% of annual premium on most FL policyholders (except workers comp, medical malpractice, A&H, federal flood).
  3. Emergency Assessment: up to +10% per year for 30 years if deficit persists.

Maximum total: +25% of annual premium on FL insureds.

History: Citizens imposed assessments after the 2004-2005 hurricane seasons (Wilma, Rita, Charley). No major assessment since 2015 thanks to Florida Hurricane Catastrophe Fund (FHCF) growth.

For Canadian snowbirds

  • Citizens accepts Canadian non-resident owners without special surcharge.
  • However: home vacant > 30 days can be problematic. Check vacancy conditions.
  • Citizens claims service is widely viewed as slower than private average.
  • For large hurricane claims, hiring a FL-licensed public adjuster (fee 10-15% of settlement) can speed things up.
  • Communication only in English; consider an FL attorney or bilingual property manager if needed.

Formulaires officiels et pages de référence

Responsabilité du lecteur

Toujours utiliser la dernière version disponible sur le site officiel cité ci-dessous. Les seuils, taux et délais évoluent. CanadaFlorida ne se substitue pas à un professionnel licencié.

Editorial team

CanadaFlorida Editorial Team

Research drawn from primary public sources cited at the bottom of every guide: U.S. and Florida statutes, U.S. and Canadian federal agencies, official Florida county and state authorities, and Canadian provincial bodies where applicable.

Every figure, rate, threshold, and deadline in this guide is drawn from a verifiable primary source listed at the bottom of the page. The article is updated whenever the underlying rules change, with a fresh review date stamped at the top.

Sources and references

Public sources verified as of the last review date (Florida Statutes, Florida Department of Revenue, Citizens, FEMA, DBPR).

  1. F.S. §627.351(6) — Citizens Property Insurance Corporation. leg.state.fl.us/§627.351
  2. Citizens — Official site, governance, eligibility. citizensfla.com
  3. Citizens — 2026 Rate Recommendations (BOG, Dec 10, 2025). citizensfla.com/2026-rates
  4. Senate Bill 76 (2021) — Glide path. flsenate.gov/sb76

Disclaimer

This guide is for educational purpose only. Figures, rates, thresholds, timelines and rules are drawn from public sources at the date shown and may change.

For any concrete decision, consult a Florida-licensed attorney, a cross-border tax attorney, or a Florida-licensed insurance broker.