While we have complaints about inadequate appraisals and underpayments to our clients recovering from the Great Flood of 2016, we know that the National Flood Insurance Program is a critical component of this — and future — recoveries in Louisiana and elsewhere. It is critical that homeowners who do the right thing and pay premiums [...]
Insurance is a special type of contract. The consumer pays premiums to the insurance company. In return, the insurance company pays benefits to the consumer if one of the things that the consumer is paying premiums to protect against – like damage from a flood – occurs. But because of the special nature of the [...]
We have previously highlighted some important things to know about your flood insurance. We’ve discussed why you need to know how the claims process works and why meticulously documenting all of your damage is vital. We’ve also answered questions that are most frequently asked. Understanding these points is useless, though, if you miss a deadline [...]
Recent victims of flooding in Louisiana need to be aware of some of the basic facts of flood insurance: Homeowner’s insurance does not typically cover flood damage. Flood damage is compensated from flood policies issued under the National Flood Insurance Program. The NFIP covers up to $250,000 for the structure of the home and $100,000 [...]
As the waters recede, the recovery begins. And that recovery will take money — money to rebuild homes, replace furnishings, and remake devastated communities. Flood insurance is intended to do just that. But how does the process work and what should flood victims do now — within the first few days of the water going [...]
After losing its effort to have the entire United States Fifth Circuit Court of Appeals undo the legal agreement it made, BP lost no time in declaring it would ask the United States Supreme Court to do so. On top of that, by early Thursday afternoon, BP had formally asked that the United States Fifth Circuit [...]
Named after the fertile red soil in its river bed, the Red River is deeply intertwined with Louisiana history. Both Shreveport and Bossier City were founded on the banks of the river, as were Alexandria and Pineville. Following the clearing of the Great Raft, the Red River was made navigable and greatly stimulated Louisiana commerce [...]
According to a recent Insurance Information Institute (III) poll, 95% of homeowners had homeowners insurance but a staggering number of renters do not carry renters insurance. Some estimate that nearly two-thirds of the 81 million people who rent their homes are uninsured for their contents or to cover any possible liability. If you are a [...]