Volume 2 Number 5
January 31, 2005










TEXT VERSION

 
 

 

 

 

 

 

GALLAGHER URGES ELIGIBLE HURRICANE VICTIMS TO SUBMIT MULTIPLE DEDUCTIBLE INFORMATION

Florida’s Chief Financial Officer Tom Gallagher called on all Floridians who may be eligible to receive compensation for multiple hurricane deductibles to act now so their applications for relief are received before the March 1st deadline. The Multiple Deductible Reimbursement Program was created to avoid economic tumult the state faced because many Floridians could not afford to rebuild or repair their homes after being charged up to four deductibles.

The Florida Legislature set a March 1, 2005 deadline for applications seeking reimbursement. “Those who may be eligible for reimbursement of multiple deductibles should have received application packages from their insurance company by now,” said Gallagher, “but if they haven’t received them they should immediately contact their insurer and our department.”

The Department of Financial Services has the application available online at www.MyFloridaCFO.com. An application can also be obtained by calling 1-800-22-STORM, which is also the number to call with questions about the program. Applicants will need to obtain information from their insurance company to complete their applications.

“No one foresaw the possibility of us being hit by four catastrophic storms in one season, nor the economic repercussions our economy could suffer if we don’t get homes rebuilt or repaired,” said Gallagher.

Floridians eligible for the program include homeowners, renters, mobile homeowners, manufactured homeowners, cooperative unit, apartment houses and homeowners and condominium associations, who paid one full deductible for hurricane losses and also incurred deductible losses from a second, third or even a fourth hurricane.

Individuals may apply for reimbursement of the amount of their loss in excess of their first deductible, capped at $10,000 for damage caused by two hurricanes or $20,000 for damage caused by three or more hurricanes during the 2004 hurricane season. Condominium associations can recover a maximum of $3,000 per unit that did not have insurance for assessments. Any policyholder who paid more than one full deductible also may be eligible for relief. Applicants must have documentation from their insurance providers to verify that more than one hurricane claim was filed.

Reimbursements will be reduced by $100 to the total reimbursable amount for each claimed filed after the first storm claim; and by any funds received as a grant to cover the deductible through federal, state, county, or municipal programs.

All applications must be completed, signed and filed with the department by March 1, 2005.

Our masthead for January is a view of the County Courthouse located downtown in beautiful Madison County, Florida.