Louisiana Homeowners' Insurance Rates Likely To Rise After Hurricane Ida

Bank calculates the home loan rate

Photo: Getty Images

Louisiana homeowners can expect higher insurance premiums and larger hurricane deductibles as a result of Hurricane Ida

Louisiana Insurance Commissioner Jim Donelon says he expects premiums to go up by ten to 12% in the year ahead, on top of an average 4% increase in homeowners' insurance rates statewide in the first nine months of this year.

Donelon says it's too early to say how much premiums may increase in Louisiana.

He added that he recently learned that the insurer GeoVera is pulling out of Louisiana's property insurance market altogether.

Copyright © 2021 TTWN Media Networks Inc.

Sponsored Content

Sponsored Content