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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 .
In hurricane-prone areas of Louisiana and Florida, insurance prices more than doubled after hurricanes in 2020, 2021 and 2022 threw state markets into turmoil, Keys and Mulder found.
Age of home: You might pay more for insurance if you are the owner of an older home. These homes may have outdated features, like an old roof, that could be more prone to damage by a covered peril.
Previous disasters have thrown state insurance markets into turmoil, with residents of Florida and Louisiana struggling to find affordable coverage. (Reporting by Andy Sullivan; Editing by Chris ...
Earthquake insurance, on the other hand, isn’t usually a requirement, but homeowners living near an active fault line may want to consider purchasing coverage, which can typically be added as an ...
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]
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