Florida and Louisiana Citizen's Takeout FAQ

Q: If I have a claim who do I call?

A: It depends on the date of loss. When the actual loss happened will determine who pays the claim. In a takeout situation, the new company will pay all claims on your policy from a certain date and forward, until your policy renews with the new company. Below is a list of recent assumptions and the date upon which all claims will be paid by Capitol Preferred.

Q: Am I still currently insured with Citizens?

A: Your policy service remains with Citizens, all billing, payment, and endorsement requests will be directed to Citizens. All claims will be adjusted and paid by Capitol Preferred. Upon your renewal date, you will get an offer from Capitol Preferred.

Q: What is a “take-out”?

A: A “take-out”, an “assumption” or a “depopulation” are terms that all mean the same thing. By government direction, Citizens’ insurance companies are attempting to reduce the number of policyholders it insures, and get policyholders moved out to the private market.

Q: I received a letter from your company, what does it mean?

A: You received an “OPT OUT FORM”  if you are a Florida policyholder. Click on the link to see a sample of the letter. The “Opt-Form” lets you know that our company has been authorized by your agent, to withdraw your policy from Citizens of Florida.

Q: What happens to my existing agent, can I still work with them?

A: Of course, your existing agent will remain your agent, you may contact them with any questions regarding billing, payments, coverages, and claims.

Q: Will my premium change?

A: In most cases there will be a slight reduction in premium. Please consult with your agent for details.

Q: Will my coverages change?

A: In Florida, your coverage will be exactly the same.

For more information on Citizen's Takeout:

• Florida Citizens Property Insurance Company Depopulation Website