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Key takeaways. 11 property insurance companies in Louisiana became insolvent between July 2021 and September 2022, reflecting the deepening crisis in the state’s insurance market .
A Louisiana State University survey last year found that 17% of Louisiana homeowners reported their provider canceled their policy. Sixty-three percent of policyholders said the cost of their ...
For example, if your home has an insured value of $200,000 with a 5% hurricane deductible, you will pay $10,000 out of pocket before insurance coverage takes effect.
Lexington Insurance Company announced that they will discontinue home insurance, sending another 8,000 property owners to search for a new insurer. Lexington specialized in homes worth $1+ million and Citizens will only insure property values less than $700,000, so Citizens was not an option. [29]
In addition to standard home insurance, some 8 million households in the UK are categorized as being a "non-standard" risk. These households require a specialist or non-standard insurer that would cover home insurance needs for people that have criminal convictions and/or where the property suffers subsidence or has previously been underpinned.
For assistance, you can reach out to the Louisiana Department of Insurance by calling the office at 1-800-259-5300 or online to get help with your claim, ask a question about your policy, report ...
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