BATON ROUGE, La. (Louisiana Illuminator) – Homeowners in Louisiana will see a small discount on the fees they pay on top of their property insurance premiums this year.
The Louisiana Citizens Property Insurance Corp. Board of Directors voted Thursday to bring an early end to a 1.36% assessment added to all residential and commercial property insurance policies in the state. Louisiana Citizens is the state-run insurer of last resort for homeowners in environmentally risky areas who cannot find coverage on the private market.
The assessment, which goes toward paying off bonds for debt that Louisiana Citizens incurred from paying claims from hurricanes Katrina and Rita, was originally set to expire in June 2026 but will now end this April…