Louisiana property insurance policyholders to earn rebates

The state’s top insurance regulator has said those who pay property insurance in the state may be entitled to more than $200 in rebates

Insurance News

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Property insurance policyholders in Louisiana may be entitled to a small rebate, the state’s chief insurance regulator announced this week.

Insurance Commissioner Jim Donelon said those who pay property insurance – including renters, homeowners and business owners – could be entitled to more than $200 in rebates back to 2012. Those who pay for such coverage pay the Louisiana Citizens Property Insurance Corp. assessment as part of their bills each year, and are eligible for rebates of 72% of the assessment.

“If you have not claimed the Citizens rebate, you can go back four years and receive rebates for 2012, 2013, 2014 and 2015,” Donelon reminded residents. “There is still 63% of those rebates available – totaling more than $165 million – to be claimed by Louisiana property insurance policyholders.”

The amount of the rebate can be found on the declaration page of a property insurance policy, and can be claimed as a tax credit on the state tax return.

The average rebate claimed by residents in 2015 was $54, the insurance department said.

The rebate has been made available following insurance losses resulting from Hurricane Katrina in 2005.

Interested property insurance policyholders can find other ways to claim the rebate, including necessary forms, on the insurance department’s website.
 

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