What is the current status of my insurance policy with my Poe Insurer? Do I still have insurance?
Your “Poe Coverage” which is your current policy with a Poe Insurer, remained in force through 12:01 a.m. on July 1, 2006.
Do I have Coverage with Citizens as of July 1, 2006?
Yes, if you are an Eligible Policyholder.
Citizens will provide two types of coverage – “Citizens Transition Coverage” and “Citizens Regular Coverage,” which are described below.
Almost all Poe policyholders are eligible for Transition Coverage with Citizens. See “Are all Poe Policyholders Eligible for Coverage with Citizens?”
What is Citizens Transition Coverage?
“Citizens Transition Coverage” is insurance with Citizens provided using the policy forms and premiums of your Poe Insurer. Citizens Transition Coverage starts on July 1, 2006 and ends when the original policy period of the Poe Insurer policy ends. For example, if your policy with a Poe Insurer would have expired on March 1, 2007, your Citizens Transition Coverage is in effect from July 1, 2006 through March 1, 2007.
What does a policyholder have to do to get Citizens Transition Coverage?
Nothing. If you are eligible, you do not need to submit an application for Citizens Transition Coverage. You also do not need to pay premium, unless you owe premium on your current policy with a Poe Insurer.
What do I do when my Citizens Transition Coverage is about to end?
Before your Citizens Transition Coverage expires you should contact your agent to seek replacement coverage with another insurance company or to obtain Regular Citizens Coverage (if eligible).
What is Citizens Regular Coverage?
Citizens Regular Coverage is a new policy with Citizens using its regular policy forms and premiums.
What steps must a policyholder take to get Citizens Regular Coverage?
Citizens Regular Coverage is NOT automatic. A policyholder must contact his or her agent to apply for Citizens Regular Coverage. An application is required, and the policyholder must pay new premium to Citizens. Citizens is working to make this process as easy as possible for policyholders and agents. Your agent has been provided with instructions on a streamlined application process.
If my Citizens Transition Coverage ends in July, will there be enough time for me to get Citizens Regular Coverage?
Yes. For policyholders whose Citizens Transition Coverage ends in July, Citizens has developed a quick process to make sure that policyholders do not have gaps in coverage. Details have been provided to your agent.
Eligible Policyholders – Citizens Coverage
Are all Poe Policyholders eligible for coverage with Citizens?
Almost, but not all are eligible for Citizens Transition Coverage.
All Poe Policyholders are eligible for Citizens Transition Coverage, except:
Any applicant for Citizens Regular Coverage must meet Citizens’ regular eligibility requirements. Contact your agent for details.
I have a commercial lines policy with a Poe Insurer. Will my policy be automatically transitioned to Citizens?
It depends. A commercial policyholder, including condo associations, is eligible for Citizens Transition Coverage unless the aggregate building limit on your policy is $25 million or greater. For these large policies, your agent must apply for Citizens Regular Coverage as of July 1, 2006. You should immediately contact your agent to ensure that your commercial coverage is in place as of July 1.
Coverage Not Provided by Citizens
I have an umbrella liability policy in addition to my homeowners policy. Will my umbrella liability policy be automatically transitioned to Citizens along with my homeowners policy?
No. Citizens does not issue umbrella liability policies. You should immediately contact your agent to find replacement insurance coverage with another insurance company to avoid any lapse in coverage after June 30, 2006.
I have a flood policy with a Poe Insurer. Will my flood policy be automatically transitioned to Citizens?
No. Citizens does not issue flood policies. The Receiver has sold the flood book to Fidelity National Property and Casualty Insurance Company, another authorized insurance company. Independent agents and policyholders can contact Fidelity National Property and Casualty Insurance Company toll free at (800) 820-3242 or via facsimile at (800) 850-3299. Independent agents can also reach Fidelity National Property and Casualty Insurance Company by visiting their website at www.fidelitynationalflood.com or by e-mail at email@example.com.
What if I have additional homeowner coverage on my Poe Homeowners policy that Citizens does not provide, e.g., a personal articles floater?
Citizens will provide the additional coverage for the Citizens Transition Coverage, but will not provide it for Citizens Regular Coverage. If you need additional coverage, your agent will have to find it through another insurance company.