Insurance Consumer Advocate Updates Assessment Calculator

Floridas Insurance Consumer Advocate Robin Westcott updated the insurance assessment calculator in preparation for the start of the 2012 hurricane season.

The assessment calculator can be used by consumers to estimate their liability in case of a one-in-25-year storm, a one-in-50-year storm and, as a worst case scenario, a one-in-100-year storm.

In meeting with insurance consumers across the state, it was clear that many Floridians did not recognize the potential for assessments following a storm if Citizens, the Florida Hurricane Catastrophe Fund or the Florida Insurance Guaranty Association does not have the capacity to pay claims, Westcott stated in a release.

Educating consumers is an important part of my duty as consumer advocate, and I believe this updated tool will serve as a valuable consumer resource going into the 2012 hurricane season.

Assessments Floridians would pay following a storm may not be limited to their homeowners policies, but include policies for other property and casualty products including automobile insurance.

To use the calculator, go here.