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Started By
Message
re: Louisiana Legislature repeals law blocking homeowner’s insurance cancellations
Posted on 5/1/24 at 3:42 pm to 4cubbies
Posted on 5/1/24 at 3:42 pm to 4cubbies
quote:
I wonder if this administration will ever do anything to actually help a single person living in thiis state.
I currently can't get homeowners insurance from ANY private provider, despite never making a claim in 18 years.
The thought is, this may open up the market to insurers willing to offer me something.
What's your plan (or one you've seen) that you think might help me get private insurance otherwise?
7
Posted on 5/1/24 at 3:43 pm to Y.A. Tittle
quote:
What's your plan
Her plan is to complain more.
This post was edited on 5/1/24 at 3:53 pm
Posted on 5/1/24 at 3:47 pm to Y.A. Tittle
Damn Tittle, why is your house considered such a high risk?
Posted on 5/1/24 at 3:53 pm to Y.A. Tittle
quote:
I currently can't get homeowners insurance from ANY private provider, despite never making a claim in 18 years.
this isn't going to be your fix bro. this will only put many of thousands of policies back to the street looking for replacement policies. Progressive is literally licking their chops at the volume of Notice of non renewals s they are about to send out.
This post was edited on 5/1/24 at 3:54 pm
Posted on 5/1/24 at 4:04 pm to Y.A. Tittle
quote:
I currently can't get homeowners insurance from ANY private provider, despite never making a claim in 18 years.
The thought is, this may open up the market to insurers willing to offer me something.
What's your plan (or one you've seen) that you think might help me get private insurance otherwise?
What's the reason you can't get insurance? Are you in a high risk flood zone?
Posted on 5/1/24 at 4:05 pm to Y.A. Tittle
quote:
What's your plan (or one you've seen) that you think might help me get private insurance otherwise?
The 3-year rule prohibits insurance companies from raising deductibles and canceling or not renewing homeowner policies in effect for more than three years. If you don't have insurance available now, this does nothing to help you access insurance.
An insurance company could write an insurance policy for your home and literally, within one year from you getting insurance and paying premiums, cancel your policy or hike your deductible to an unreasonable amount. This could mean that an insurance company could write you a policy in early September and then cancel it at anytime within that one year from you obtaining insurance, because you no longer have the three year rule protecting you.
Repealing the 3-year rule was only meant to help insurance companies collect more premiums, and not to help those who couldn't obtain insurance suddenly have the ability to obtain it.
This post was edited on 5/1/24 at 4:06 pm
Posted on 5/1/24 at 7:29 pm to Y.A. Tittle
quote:
The thought is, this may open up the market to insurers willing to offer me something.
The trusty trickle down theory
Posted on 5/8/24 at 8:59 am to Y.A. Tittle
Maybe all of the uninsured homeowners can form their own pool. It would be glorious. Doctors do it with malpractice insurance.
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