An 82-year-old woman from the Tampa Bay area trying to survive on a meager social security check is among customers of Citizens Property Insurance Corp. suing the insurer for the way it calculates replacement values.
Ruth Lauro said Tuesday that she isn’t sure how long she’ll be able to remain in her New Port Richey home of 33 years after her monthly homeowners insurance premium was increased $69. Lauro said she receives $630 monthly from Social Security.
Sen. Mike Fasano said independent estimates on the replacement value on Lauro’s home is about half of the Citizens estimate.
Citizens’ spokeswoman Christine Ashburn said the insurer’s goal is to establish an accurate replacement cost valuation to protect its policyholders and make sure they can restore their home after a catastrophic loss.
Was this article valuable?
Here are more articles you may enjoy.
Credit Suisse Nazi Probe Reveals Fresh SS Ties, Senator Says 
Charges Dropped Against ‘Poster Boy’ Contractor Accused of Insurance Fraud 
Cape Cod Faces Highest Snow Risk as New Coastal Storm Forms 
Berkshire Utility Presses Wildfire Appeal With Billions at Stake 
Want to stay up to date?
Get the latest insurance news
sent straight to your inbox.