– Property insurance customers of the state-backed insurance company Citizens are getting a pleasant surprise as some learn there is a decrease in property insurance premiums if they get the chance to switch to a new insurance company.
According to Brightway Insurance Agent Matt Carlucci Jr., this by no means indicates Florida’s property insurance crisis is over, but instead, he said it’s a sign that the state is headed in the right direction.“I’ve had two people this week, who they’re going to renew next year with a company whose price is almost $300 less than Citizens. There’s a percentage of people who are going to get a lower price policy, and they don’t have to do anything to get it,” Carlucci said.
“Lately, a lot of private market companies have become more aggressive. And whenever you see that, because insurance is cyclical, so once the private market becomes aggressive, eventually prices are going to fall,” Carlucci said.