If you’re on Citizens Property Insurance and received a letter saying your policy is being assumed by a private carrier, you’re part of Florida’s depopulation process. It sounds alarming, but it’s actually how the system is designed to work — and it can be a good thing for your coverage and your wallet.
What Is Citizens Depopulation?
Citizens Property Insurance Corporation is Florida’s state-created insurer of last resort. It was never meant to be a permanent home for policyholders — it exists to provide coverage when the private market can’t or won’t. Depopulation is the process of moving Citizens policyholders back into the private market as private carriers become willing to write those risks.
When a private carrier offers to take over (assume) your policy, Citizens sends you a letter. You have the right to accept the new carrier or opt out and stay with Citizens, but understanding your options before deciding is important.
Should You Accept the Takeout Offer?
The assuming carrier must offer you coverage that is comparable to or better than your Citizens policy, and the premium cannot exceed your Citizens premium by more than the amount allowed by Florida law. In many cases, the private carrier’s coverage is actually broader than Citizens, and the price is competitive.
However, “comparable” doesn’t mean identical. The deductibles, coverage limits, and endorsements may differ. This is where an independent agent adds value — we can review the takeout offer, compare it against your existing Citizens coverage, and also shop your policy across other private carriers to make sure you’re getting the best deal available.
The Third Option: Shop the Market
Many Citizens policyholders don’t realize they have a third option beyond accepting or rejecting the takeout. You can shop the private market independently through an agency like Nymble. The private market has expanded significantly, and you may find better coverage at a lower price than either Citizens or the assuming carrier.
Nymble shops your property across 90+ Florida-licensed carriers, including many that actively seek former Citizens policyholders. We’ll show you a side-by-side comparison of your Citizens policy, the takeout offer, and the best private market alternatives so you can make an informed decision.
What to Do Right Now
If you received a depopulation letter, don’t ignore it. Note the deadline in the letter. Then request a quote from Nymble. We’ll review your Citizens policy, evaluate the takeout offer, and shop the private market — all at no cost to you. You’ll have a clear picture of your best option before the deadline arrives.