Homeowners insurance policyholders may find themselves paying more for Isaac

Homeowners insurance wind damage

Many residents of the metro New Orleans area may face greater out of pocket expenses. Due to the fact that Isaac came ashore in the form of an actual hurricane, having been upgraded from a tropical storm, residents with homeowners insurance in the area of metro New Orleans are finding that they are paying more for wind damage repairs they face. This is because the deductibles for many of the more recent policies are higher for hurricanes. Homeowners insurance policies that have been written over the last few years include…

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Major home insurer, Citizens, is excluding drywall in coverage

Private insurers have been making tweaks to their coverage plans all over the country. Citizens Property Insurance is following suit by dropping coverage on properties with damage from Chinese drywall. The first time it had proposed such a move, back in 2009, it met harsh rebuke. As a state funded organization, it is often seen as the last coverage provided to offer service when no one else would. In a report from 2009, drywall from China was found to be responsible for a number of damages to homes including the…

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