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re: There is an insurance catastrophe headed for Louisiana.
Posted on 6/16/22 at 7:34 pm to Slippy
Posted on 6/16/22 at 7:34 pm to Slippy
With the holocaust about to happen in courthouses in western Louisiana (and to be clear, some insurers completely fricked up their handling of Ida claims and should be popped), it's going to damned hard to get a homeowner's policy in this state for the next decade.
3
Posted on 6/16/22 at 7:41 pm to PUB
quote:
ny issues with National General?
Not yet but my policy doesn’t start until June 22nd. I never had an issue with lighthouse either. Paid all my Ida damage with no issues.
Posted on 6/16/22 at 7:46 pm to udtiger
quote:
it's going to damned hard to get a homeowner's policy in this state for the next decade.
Actually gonna be real easy
This post was edited on 6/16/22 at 7:47 pm
Posted on 6/16/22 at 7:46 pm to Slippy
I’ve been saying this for a couple years now. South Louisiana is on the verge of becoming uninsurable. You want to see nola finally die? Watch what happens when there isn’t a reputable insurer available and banks refuse to lend without one.
Laura, Delta, Zeta and Ida have destroyed insurance providers in Louisiana. Another significant storm or two and who’s going to be left?
Guess what, your now underwater on your house along with damn near everyone of your neighbors.
Laura, Delta, Zeta and Ida have destroyed insurance providers in Louisiana. Another significant storm or two and who’s going to be left?
Guess what, your now underwater on your house along with damn near everyone of your neighbors.
Posted on 6/16/22 at 7:46 pm to Slippy
My insurer dropped me. I have Safeco now. My policy went up 300.00 a year, but is still high as it's been steadily climbing since 2016. It's now 2987.00
Posted on 6/16/22 at 7:47 pm to udtiger
Some insurers bro? i had been in meetings with 5 or 6 dozen people early in the year where no of them have been paid a fricking cent
Posted on 6/16/22 at 7:52 pm to Simon Gruber
quote:
Not yet but my policy doesn’t start until June 22nd
When did they bind your policy? It could very well still be declined if it was bound in the past couple days if the underwriters don't like it. A lot of the carriers that are still writing are being extremely exclusive about who they write.
Posted on 6/16/22 at 7:53 pm to MrLSU
quote:
While flood risk grows by about 25% over a span of 30 years, wildfire risk overall is doubling and jumping more than 200% in places you might not expect, like New Jersey, Massachusetts, Florida, Louisiana, Alabama and Arkansas."
As long as we time the floods to be about 30 minutes after the wildfires we should be good.
Posted on 6/16/22 at 7:54 pm to Guntoter1
quote:
Farm bureau will never leave the state of Louisiana
They don't have to leave the state. Just because they are still open doesn't mean they are writing wind/hail policies.
Posted on 6/16/22 at 7:54 pm to TutHillTiger
quote:
Some insurers bro? i had been in meetings with 5 or 6 dozen people early in the year where no of them have been paid a fricking cent
DevilDags says that’s solely the fault of plaintiffs’ lawyers. Allstate is just begging to pay claims but mean old Gordon McKernan won’t let them.
Posted on 6/16/22 at 7:55 pm to WaterLink
Some info from my agent.
Gulf States stopped writing new business a week ago and Allied Trust is closing tomorrow at 5:00pm. Every company out there now has a minimum of 2% for named storms/hurricane and/or wind/hail. Then there is always the inspection showing up something they do not like with a new carrier and you get dropped with no where to go. I am advising everyone to stay put if they have a policy this year.
Gulf States stopped writing new business a week ago and Allied Trust is closing tomorrow at 5:00pm. Every company out there now has a minimum of 2% for named storms/hurricane and/or wind/hail. Then there is always the inspection showing up something they do not like with a new carrier and you get dropped with no where to go. I am advising everyone to stay put if they have a policy this year.
Posted on 6/16/22 at 7:55 pm to Jimmy2shoes
Bad verdicts will do this to you. Time for people to realize the cost of ridiculous litigation. Enjoy.
Posted on 6/16/22 at 7:55 pm to Simon Gruber
quote:
Shop around bc citizens isn’t the only option apparently
I bet you don't live in a coastal parish.
Posted on 6/16/22 at 7:57 pm to PetroBabich
quote:
Insurance in all forms is a scam.
I fricking HATEEEE it. If it were an option to ditch all of it I would.
Posted on 6/16/22 at 7:57 pm to Tarps99
quote:
I laughed at this map.
Terrebonne parish is lit up brown, but there isn’t enough trees to cause a fire. And if they do most of the trees are sitting in water.
Who the frick looks at this data?
Actually it is some green idiot from New York who looks at the winter marsh fires caused by rabbit hunters hunting the marsh and from the Sugar Cane farmers burning their fields.
Posted on 6/16/22 at 7:58 pm to Slippy
If my homeowner's insurance cancels on me and I end up finding a policy that doubles or triples my premium, it'll be time for my arse to leave this raggedy arse state.
Posted on 6/16/22 at 7:59 pm to Slippy
quote:
Like signing a contract to cover certain things and then when you make a claim you fight the policyholder at every turn
boom. this times 1000x. the play book is to wear the homeowner down.
oh and Donelon is near useless.
Florida is just as prone to hurricanes as we are--if not moreso--yet theyre not experiencing the crisis we are. it is not ideal but it isnt as dire.
This post was edited on 6/16/22 at 8:05 pm
Posted on 6/16/22 at 8:00 pm to billjamin
quote:
Guess they finally got sick of using the rest of the country to subsidize home remodels every 10 years in La.
You fu**ers act like Florida, Bama, MS, Texas, etc don't take storms
Posted on 6/16/22 at 8:02 pm to billjamin
quote:
Guess they finally got sick of using the rest of the country to subsidize home remodels every 10 years in La.
Minnesota also has some of the highest homeowner's insurance rates in the US. Same logic apply?
Posted on 6/16/22 at 8:06 pm to nola tiger lsu
quote:
Bad verdicts will do this to you. Time for people to realize the cost of ridiculous litigation. Enjoy.
which verdicts we talking about? ones where the insurer gets popped with penalties for not paying what they are supposed to pay?
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