I live in west-central Florida. My homeowner's insurance policy is currently with Citizens, the state-sponsored insurance company. I just got a letter saying that a company called Homeowners Choice (headquartered in Clearwater, FL) will assume my policy unless I opt out.
Their web site says they were founded in 2006, currently have 20,000 policies in Florida, and are approved to try and acquire 95,000 policies from Citizens.
The site also says a company called Demotech gives them a financial stability rating of "A" (exceptional).
How do I find out if Homeowners Choice could really pay in the event of a big loss (e.g. hurricane)? Is there one best actuarial/financial analysis firm to look to for a rating on Homeowners Choice? Anybody heard of Demotech?
Thanks
Their web site says they were founded in 2006, currently have 20,000 policies in Florida, and are approved to try and acquire 95,000 policies from Citizens.
The site also says a company called Demotech gives them a financial stability rating of "A" (exceptional).
How do I find out if Homeowners Choice could really pay in the event of a big loss (e.g. hurricane)? Is there one best actuarial/financial analysis firm to look to for a rating on Homeowners Choice? Anybody heard of Demotech?
Thanks