re: Private Flood Insurance--Louisiana

quote:

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350k of coverage (250k building, 100k contents) is $450/year and rates are the same regardless of who writes the policy since its federally backed.

I cant imagine a private insurer offering anything to compete with that.

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You live in a flood zone? Appears not so.

Fed Flood Insurance for those properties in a flood zone are usually much higher. Many are looking at the private insurance market for help. If you do so, make sure your financial institution accepts private flood insurance. They are encouraged to do so but not required.

And as for those low rates for non flood zone properties, that may change in 2017.