Recent policyholder inspections by Citizens Property Insurance Corp. found some homeowners are getting more of a discount for fortifying their homes than they are eligible for.
The state-backed insurer looked at 452 policyholders. Of those, more than two-thirds were getting more discounts than they should.
The insurer said this week that 311 homes were receiving more than they are owed, while 39 aren’t getting enough.
Citizens Spokeswoman Christine Turner Ashburn says policyholders who owe more will be told they can fortify their homes to receive the discounts or their premiums will rise.
Ashburn says the company is trying to be fair.
All Florida home insurance policyholders pay fees to offset Citizens’ deficits from previous hurricanes.
Topics Carriers Florida Homeowners
Was this article valuable?
Here are more articles you may enjoy.
AIG’s Hancock to Retire as Head of General Insurance 
Aon Raises $13.5 Billion From Bond Sale to Fund USI Takeover 
Buffett Steps Down as Berkshire Chair, Ending Six-Decade Run 
The Big Data/AI ‘Revolution’ Is Driving Up Verdicts, Settlements as Plaintiffs Buy In 
