Saturday, February 20, 2010

Citizens Insurance Policies Found To Be Lopsided

Recent policyholder inspections by Citizens Property Insurance Corp. found that 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, 311 homeowners - more than two-thirds - were receiving more than they are owed, while 39 aren't getting enough, the insurer said this week. Citizens spokeswoman Christine Turner Ashburn said that 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.

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