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.
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