re: 42,000 Louisiana homeowners dropped by insurance company Friday

Insurance is simply a way of transferring your risk to someone else. With the last few years of hurricanes in Louisiana, it’s not shocking that few insurance companies are able to afford to continue accepting that risk. As the other poster pointed out above me, Jim Donnelon forcing insurance companies to pay evacuation expenses didn’t help.

Maybe people should move to better places

I got dropped. Live in Baton Rouge, didn't flood in 2016 and have been lucky with hurricanes and haven't had any significant damage. Just a busted fence I fixed myself and never got insurance involved.

Still got dropped. Had Maison, think they pulled out of the area completely.

quote:

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What is the problem with them getting insured by larger companies like State Farm instead of these little ones?

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State Farm doesnt insure down here. They sub out to Dover Bay, which is basically a "little one."
State Farm takes a portion of your money, sends you to Dover Bay, and washes their hands clean of you.

When the statewide building code doesn’t require you to build above the Base Flood Elevation then it’s up to your local officials and the local elected leaders who are their bosses to require higher standards.

The stats are clear. We keep allowing homes to be built in ways-not areas but in methods-that allow them to get wet. Leaders claim they don’t want to dictate what property owners can do with their land. This is BS as we know imminent domain, expropriation, planning and zoning control exactly that and have for years and are perfectly legal across the Nation thanks to centuries old SCOTUS rulings and laws.

It’s developers who want to build at a minimum of cost to remain competitive in their market place while maintaining their own margins who benefit from this.

Local jurisdictions haven’t provided homeowners uniform protection from chronic flooding and so what benefits one person isn’t in place to benefit their neighbor across the Parish or the State.

You can thank Developers, elected officials and building officials who lack courage to increase their standards for a majority of these issues.

Are they to blame for them all? Absolutely not. We are playing a poor hand down here with drainage and topography. But they could make a difference…and they aren’t.

Homeowners insurance fricking sucks enough already. Just roll without it and shoot anyone who comes on your property. Better chance at a decent life that way.

My other thought is Louisiana is dying.

at least property taxes are low

Louisiana is all about low regulations on business. This is a business seeing they lost money and fixed the issue. If you don’t want to deal with this issue don’t buy in we’re it floods. FYI most new development are built in flood plans since all the good land is used up. Just go and look at the maps. You know if you live where it floods.

I had Southern Fidelity and now am stuck with Citizens for the near future. I am lucky enough to be in a position where the increases to insurance, property tax and the like are bearable.

I fail to see how a young family could or want to be in a position to live in the corrupt and dying city of New Orleans. The cost of a home in a neighborhood even close to safe is 400k and way up then your T & I is likely to eclipse your P & I. Entergy charges 23% higher rates in New Orleans than they charge the rest of the state. Car insurance in New Orleans is the highest in a state that is the highest in the country. Water and garbage are high. Sales tax is the second highest in America. There is a 6% state income tax. Streets tear up the car. You have to send your kids to a private or parochial school. You have to invest in a security system and pay for private patrols.

Growing companies keep leaving New Orleans, and Baton Rouge for that matter, because the young workers they desire see no quality of life for the money they will be paid. The Progressives have made these cities economically hostile to all but the rich and those completely on the dole.