Louisiana’s top insurance regulator says Louisiana citizens who pay property insurance in the state may be entitled to more than $200 in insurance rebates dating back to 2012.
All property insurance policyholders in the state — such as renters, homeowners, and business owners — pay the Louisiana Citizens Property Insurance Corp. assessment as part of their property insurance bills each year.
Insurance Commissioner Jim Donelon reminds policyholders they are eligible for a rebate of 72 percent 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. There is still 63 percent of those rebates available — totaling more than $165 million dollars — to be claimed by Louisiana property insurance policyholders,” said Commissioner Donelon.
The amount of the assessment rebate can be found on the declaration page of a property insurance policy. The average rebate claimed from the Louisiana Department of Revenue in 2015 was $54.
The Citizens Assessment rebate can be claimed as a tax credit on the state tax return due May 15.
Other ways to claim the rebate, including necessary forms, may be found on the department’s website: www.ldi.la.gov/citizensrebate.
The rebate stems from insurance losses resulting from Hurricane Katrina in 2005.
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