Dec. 31 Is Deadline to Claim Louisiana Property Insurance Rebates

Louisiana Insurance Commissioner Jim Donelon is reminding property insurance policyholders that the deadline to claim a rebate for the Louisiana Citizens Property Insurance Corp. assessment charged on their 2011 insurance policies is Dec. 31, 2015.

Nearly $34 million, or 52 percent, of the refundable assessments available for 2011 remains unclaimed.

“If you pay property insurance in Louisiana, whether to Citizens or another insurer, you are entitled to the rebate,” said Commissioner Donelon. “However the opportunity to claim the assessment rebate expires after four years, so time is quickly running out to claim the rebate for 2011.”

Following the passage of Act No. 125 of the 2015 Legislative Session, 72 percent of the assessment is refundable. The dollar amount of the assessment can be found on the declaration page of the insurance policy. More than $306 million, or 53 percent, of the available rebates for 2006-2010 have already expired.

Policyholders can claim rebates for assessments charged in years 2011 through 2015. To date, $195 million, or 62 percent, of the funds available for those years remains unclaimed.

Source: Louisiana Department of Insurance