Hurricane insurance claim deadline looms

Hurricane insurance Isaac 2012

Policyholders who intend to make a claim related to flooding from Isaac must do so by today. Today marks the last day in which residents of Louisiana will be able to make hurricane insurance claims relating to losses from flooding that occurred as a result of Isaac. The National Flood Insurance Program has already applied three extensions to this deadline. Typically speaking, hurricane insurance for flooding has a claims deadline of 60 days from the time of the loss itself. However, the NFIP has given three different extensions to provide…

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Homeowners insurance will likely not be impacted by Isaac

Homeowners flood Insurance hurricane sandy damage

It isn’t likely that premiums will change due to the hurricane in Louisiana. According to Louisiana’s insurance commissioner, Jim Donelon, the odds that hurricane Isaac will have any impact on the premiums paid by residents of the state in order to cover their homes is very slim. Donelon stated that it is now estimated that insured damage from Isaac will total $500 million to $1.5 billion. Hurricane Katrina was by far the most costly in terms of homeowners insurance costs. It brought in a total of $25 billion in damages. Rita…

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