As homeowners insurance grows more expensive, policies could be harder to come by – About Your Online Magazine


NEW ORLEANS (WVUE) – Hurricanes Laura, Delta and Zeta hit the Louisiana coast in 2020, dotting blue roofs along the Gulf Coast.



a tree in front of a house: a tree felled by Zeta in a house in Metairie, Louisiana.


© Provided by WVUE New Orleans
A tree felled by Zeta at a house in Metairie, Louisiana.

“It really looks like we hit the brakes and operators are responding,” said Alyssa Bourgeouis.

Loading...

Load error

All of these storms have cost nearly $ 10 billion in insurance claims and now homeowners are seeing the result hit their pocket in their insurance account. Alyssa Bourgeois, of Eustis Insurance, says she is now following several homeowners shocked by the increase during the process.

“I would say that any policy that is coming in for renewal anywhere between 5 percent and 20 percent is really what we are seeing. If I had to choose a trend, I would say that it is the houses with the oldest roofs, ”said Bourgeois.

She explained how, since Katrina, it seems that insurers see New Orleans’ roofs and properties as a greater responsibility.

“Most of the roofs were replaced from 2005 to 2006 shortly after Katrina. They are called 20-year-old roofs, 25-year-old roofs. They are at the end of their useful life, ”said Bourgeois.

Louisiana insurance commissioner Jim Donelon says this is costing homeowners more, but he expects those numbers to decline as long as devastating hurricanes continue this year.

“It is not as accessible as we would like for consumers, but from the point of view of the solvency of companies that do business in our state, no, we are monitoring this closely,” said Donelon.

While Bourgeois says operators are still writing real estate policies, she says that some companies have made it more difficult to qualify for their policies, including major national operators.

“A big mistake, these operators haven’t written a new cover in New Orleans since Katrina, so you can call Allstate and State Farm and get a real State Farm or Allstate or Farm Bureau or Liberty Mutual policy. They have other markets, different operators that are not admitted that they are using under the name of All State, but they are not through these traditional companies … there is definitely a combination of operators that are not writing new coverage or companies just saying no we will write a new house and less the roof is 10 years or more, ”said Bourgeois.

While shopping may seem like the best option, she says you should be careful and maybe just spend some time on the phone with your insurance agent.

“I think it is really important to maintain coverage with the operator if it is affordable, because you have protection in Louisiana if you have been with the company for more than three years,” said Bourgeois.

Donelon said the only operator that does not offer home insurance in Louisiana is Nationwide.

Copyright 2021 WVUE. All rights reserved.

Did you see a spelling or grammar error in our story? Click here to report it. Please include the title of the story.

Keep reading

Paula Fonseca