Homeowners insurance “storm tax” to be put to rest in Florida

September 29, 2014September 27, 2014 Logan B.

Citizens Property Insurance announces it will end its emergency assessment on insurance policies two years ahead of schedule Florida’s Citizens Property Insurance has announced that it will, in fact, be putting an end to emergency assessment it has levied on insurance policies. The assessment, which is often referred to as the “storm tax,” is being put to rest two years ahead of its scheduled expiration. For some homeowners, this may come as a financial relief, but insurance costs are expected to only fall by an average of $40 over the…

Homeowners insurance tax could come to an end in Florida

September 24, 2014September 22, 2014 Nordstrom

Citizens Property Insurance is considering putting an end to its storm tax Florida’s Citizens Property Insurance is considering putting an end to its storm tax, which was first introduced in 2007 as a way for the organization to recover from devastating financial losses. The tax imposed a 1% charge on all homeowners insurance policies that the organization was responsible for. The charge has been somewhat unpopular among homeowners, especially as Citizens continued to raise premiums on their coverage somewhat aggressively. Now, the organization may put an end to the tax…