Amid Hurricane Season and following the aftermath of Hurricane Barry, it is a good time to remember that flood insurance is an important part of Louisiana home ownership. In Barry alone, flood loss for residential and commercial properties in Louisiana is estimated to be between $200 million and $400 million, including both storm surge and [...]
First flooding. Then fighting with insurance companies for full and fair payments for insured losses. Then dealing with contractors to make sure work is done timely and correctly. But now Louisiana flood victims have to deal with a new problem. The Louisiana Office of Community Development is warning residents of possible scams of flood victims. […]
Congress is set to reform the National Flood Insurance Program later this year. We have written before about how the NFIP has needed reform for years — it is $25 billion is debt. One of the suggested ways to fix some of the problems with the NFIP is to make it easier for private insurers […]
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 […]