Tag: Louisiana

State Farm Faces Unprecedented Claims Surge as Hurricane Beryl Breaks Records

Marc
State Farm Claims soar from hurricane damage

Hurricane Beryl Smashes Records, Unleashing Insurance Claim Surge Hurricane Beryl has left an unprecedented mark in its wake, driving State Farm to handle over 16,000 insurance claims—a record for the company. This surge in claims was set off when Beryl struck Texas, marking the first U.S. landfall of the 2024 Atlantic Hurricane season, according to a report by AM Best. The financial fallout from this historic storm is projected to reach into the billions, reflecting widespread damage to properties and vehicles across multiple states. Initially impacting the U.S. as a…

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What are kitty cat storms and what do they mean to home insurance?

Julie Campbell
kitty cat storms

These secondary weather systems are striking areas across the US, leaving damage behind While we tend to think of the most damaging weather that will impact home insurance as massive systems that take a long time to build and then stomp their way across the region, they’re not alone. Severe-convective storms are what the industry calls “secondary perils” The severe-convective storms, also known as kitty cat storms, are thunderstorms that build rapidly to the point of being large and powerful but disappear once again within a span of days or…

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Louisiana home insurance discounts are disappointing many homeowners

G. Turner
Insurance discounts - Home roof Not impressed

Amid the state’s coverage crisis, there is debate regarding the size of the reductions for fortified roofs. Louisiana homeowners who have taken on the added expense of fortified roofs are finding that the insurance discounts they receive aren’t nearly as high as they would have expected. Fortified roofs are often expected to make coverage cheaper Homeowners across Louisiana have found themselves facing repairs again and again as the state is hit with major hurricanes over the years.  From Katrina to Ida, some homeowners chose to try to kill two birds…

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New Louisiana Law Requires Insurers to Cover Smoking Cessation Treatments

Angela Linders
Lousiana Health Insurance News

Louisiana has taken a bold step in promoting public health with a groundbreaking new law. According to this report, the aforementioned law mandates health insurance coverage for six months of smoking cessation treatment. Historically, the state has been lagging behind in terms of providing tobacco cessation treatments and removing barriers to accessing treatments. In its 2023 State of Tobacco Control report, the American Lung Association scored Louisiana an “F” in funding for tobacco prevention and cessation and a “D” in access to cessation services. What this law means for Louisianan…

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Louisiana home insurance coverage at risk as Atlantic hurricane season picks up

G. Turner
Louisiana home insurance - Hurricane Season

The state is facing problems that have been compared to the coverage crisis in Florida. As has been the case in Florida’s market, Louisiana home insurance struggles are leaving thousands of residents of the state wondering how to find coverage. The need is becoming particularly urgent as the US predicts a busy Atlantic hurricane season. Meteorologists have been warning that the Atlantic hurricane season will be an active on this year. With theses risks ahead, a number of Louisiana home insurance companies have withdrawn from the market, just as has…

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Thousands without Louisiana flood insurance risk financial devastation

Julie Campbell
hurricane flood insurance

Uninsured residents may face overwhelming losses as a result of the rising floodwaters in the state. Thousands of people who don’t have Louisiana flood insurance are now risking considerable financial losses. While they aren’t without any assistance, the lack of coverage will mean significant out of pocket expenses. Many of the people whose houses are underwater have never had the slightest problem with flooding before. FEMA and other organizations will be prepared to provide a certain amount of assistance to the uninsured. These organizations are designed to help people such…

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New auto insurance monitoring system has come to Louisiana

S.Vagus
auto insurance woman female

Monitoring system aims to ensure that police can enforce insurance requirements A new auto insurance monitoring system has been put to effect in some parts of Louisiana. The system is meant to be used by law enforcement to ensure that drivers have the coverage they need in effect. Per law, all drivers must have their vehicles insured. This coverage lapses when they do not pay their premiums, but it can take some time for this information to update through conventional channels. The new system will help police better enforce the…

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