re: Good News: More Insurers coming to LA. Bad News: Most of them suck

You are looking at historically high insurance premiums. Companies coming in and offering some relief from that is good as the rates of the last year and a half or so are not really sustainable for homeowners

Your premiums will still be higher than what you are use to prior to the run of hurricanes over the last 5 years, additionally you will likely not be seeing flat $1000-$2500 deductibles. In places like Orleans and Jefferson you will still likely be seeing 3%-5% storm deductibles as the norm

These companies will have higher deductibles, higher premiums, and broader restrictions for qualifying than those that were present prior to IDA

The problem will be if we start going several years without major incidents and then new companies start to come in continually try to undercut each other, offering premiums that aren't sustainable in the region.

The birth of a lot of companies that went under after IDA were born out of the corpse of hurricane Katrina. A few years after Katrina opportunistic individuals took advantage of the vacuum that had form and they came in with too good to be true premiums and they were allowed to do it. They set up the company knowing they would be selling in in a few years and leave another group holding the bag