Expiring Citizens rebate deadline comes next week
Published 11:45 pm Friday, December 26, 2014
From staff reports
L’Observateur
Baton Rouge — The deadline for property insurance policyholders to claim a rebate for the Louisiana Citizens Property Insurance Corporation Assessment charged on their 2010 insurance policy is Wednesday.
More than $50 million, or 52 percent of the total assessment collected for 2010, remains unclaimed.
All property insurance policyholders in Louisiana, whether they are insured through Citizens or another insurer, pay the Citizens assessment each year as part of their property insurance bill and are entitled to the rebate. The opportunity to claim the assessment rebate expires after four years.
“The allotted time to claim assessment rebates for 2006 through 2009 has already expired and along with it, nearly 55 percent of the available assessment rebate,” Commissioner of Insurance Jim Donelon said. “That’s more than $255 million that went unclaimed. I strongly encourage all property insurance policyholders in the state to take the time to claim what is owed to them.”
The process of claiming the Citizens assessment rebate involves filling out a one-page form on paper or online. Residential property insurance policyholders use the Louisiana Department of Revenue (LDR) R 540INS tax form at ldi.la.gov/CitizensRebateForms.html for the year in which the assessment was paid.
Policyholders must attach a copy of the insurance policy’s declaration page which indicates that the assessment has been paid and mail it to the address located at the bottom of the form.
Another option for residential policyholders is to claim the assessment rebate online by visiting revenue.louisiana.gov.