Florida Homeowners Sue Citizens

by Isaac Benmergui, Esq on February 17, 2012

In an effort to boost premiums, Citizens Property Insurance Corp. allegedly inflated home values, claims a group of Florida homeowners who has joined a class action suit against the company. Premiums shot up by more than 100 percent, says the class.

Software Only Property Assessments

Citizens claims it provided an accurate estimate of the replacement cost of the home to the homeowners and used the company’s valuations software to arrive at the figures. Citizens does not accept outside appraisals for properties, but instead relies solely on the software estimates.

Reassessments Possible

The vice president of the Florida Insurance Council, Sam Miller, believes a judgment against Citizens will likely cause a statewide assessment for all policy owners whether they are homeowners, business owners or motorists.

Getting Legal Help

Attorney Benmergui can help you with your legal real estate needs, including improper assessments, short sales and foreclosure actions; call 780-800-2510 or email Isaac@benmerguilaw.com for more information or to set up an appointment today.

 

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