In a growing and somewhat disturbing trend, insurers not rated by AM Best are capturing a greater portion of the Florida homeowners insurance market. The table above shows the leading insurers by market share. The only AM Best rated companies on the list are USAA, State Farm and ASI. Citizens is not rated by AM Best and many knowledgeable sources have questioned the adequacy of Citizens policyholder surplus to pay claims in the event of a major hurricane. The last major storm to hit Florida was in 2005 and the financial stability of Florida insurers has not been tested in a while. Homeowners should be carefully consider the AM Best rating when making a decision about insurers for their property
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