Homes For Sale

Citizens, Florida’s insurer of last resort with 1.5 million policyholders, announced Friday it will allow qualified appraisals among other options to set premiums — no longer insisting customers have little choice but to accept results from software known as 360Value.

“We believe that providing these options gives our policyholders and agents more confidence in the valuation process while providing policyholders with adequate protection for their homes,” said Citizens President Scott Wallace.

Advocates for homeowners welcomed the news.

“That’s totally a win,” said former state insurance consumer advocate Sean Shaw. “That’s a common sense win.”

Citizens said it will accept replacement cost estimates from 360Value, MSB, and e2Value, but also from a licensed appraiser if it is formulated specifically to establish the insurance reconstruction cost rather than market value.

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