However, a recent bill to delay the increases to the rates for this coverage could help.
A recent survey conducted by a online website for financial news has taken the Louisiana flood insurance rate struggles into account among other issues faced by the state, and has slapped it with a ranking of a lousy 44th place when determining the “best-run states”.
The site that ran the survey did admit that when it came to rating, it was “difficult to objectively assess”.
At the same time, that website also said that by looking at the basic financial data of each state, and by looking into the various forms of services that are provided, in addition to the standard of living of their residents, a proper ranking can be created. In this case, the problems with Louisiana flood insurance worked against the state and contributed to its low rating with respect to that survey’s results.
While Louisiana flood insurance held back that state, it was North Dakota that managed to take the top spot.
Following North Dakota, it was Wyoming, then Iowa, and then Nebraska and Utah that took the lead positions among the most well-run states according to the ratings of the financial news website. On the other end of the scale, California was at the very bottom, in the 50th rank. Above it were New Mexico and Illinois, then Rhode Island, followed by Nevada and Arizona.
According to the 24/7 Wall Street site’s statement about Louisiana, “While home values nationwide fell by more than 11 percent between 2007 and 2012, the median Louisiana home value rose by 10 percent during that time, one of the largest increases nationally. Still, even with a relatively healthy housing market, Louisiana‘s population has other serious problems.”
It pointed out that as of last year, only 83 percent of the adults in that state had completed their high school educations. Furthermore, over 16.9 percent of the state’s residents were uninsured for health coverage. Those are both the worst statistics seen among any state in the country. It was also seen as among the most violent states in the country, as there were almost 500 violent crimes for every 100,000 residents, last year.
The days ahead will say a great deal regarding the cost of Louisiana flood insurance and whether or not the premiums increases will be delayed.
