The state's largest insurance company has just dropped 200,000 policies, meaning hundreds of thousands of people will be left looking for a new company.
The move comes as thousands were hit hard by Hurricanes Helene and Milton.
Typically, the letters have meant most people will pay more for an insurance policy, but for many people, the news isn’t all that bad.
Livia of Fort Myers was among many people who took to social media to say their home insurance rates were rising again.
“We were forced to go with Citizens earlier this year due to that being our only option after our private carrier had dropped us,” she said.
She and her husband are forced to find a carrier yet again.
“We have received one option to go with a new carrier, and it is at an 18% increase from what we're currently paying,” she noted.
The increase is one of many she has received in the last several years since purchasing her home.
“I purchased my home in February of 2022. Since then, our homeowner's insurance has increased over 300%, and that's not even counting the flood insurance,” Livia said.
Her only option now is a small, relatively unknown company.
“I'm leery, and I’m familiar with them because I have friends and family with them who are insured with them before Hurricane Ian, and they still have not received a dime,” she said.
Fort Myers Insurance Agent Doug Nellans with The Insurancenter said Livia’s case appears to be the exception to the rule as he has about 100 clients impacted by Citizens' takeout.
The vast majority, he says, are getting options.
“Because of multiple offers from multiple companies, the pricing is getting much more in line with what the clients are currently paying with citizens,” Nellans explained.
Nellans said Florida has more companies doing business in the state and looked at random examples of customers paying $50 to $100 more a year under the latest takeout offers.
“For the first time in recent history, they're able to accomplish that without putting clients in harm's way by sticking them with an outrageously priced alternative,” Nellans said.
Last month, Citizens had 1.2 million customers. Now, they're just over a million.
Sources say even more takeouts are expected before year's end.