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Started By
Message
re: Homeowner’s Insurance is collapsing in LA - UPC gone, Cajun now gone - rates up 40%
Posted on 3/22/23 at 2:09 pm to theunknownknight
Posted on 3/22/23 at 2:09 pm to theunknownknight
Enjoying your ridiculous bad faith verdicts???
0
Posted on 3/22/23 at 2:11 pm to TheHarahanian
quote:
I had UPC. My agent is looking for a replacement with a week to go.
Where do you live in LA?
Posted on 3/22/23 at 2:12 pm to TDsngumbo
quote:
This is way worse of a problem with homeowners insurance than suing. Louisiana residents, for some reason, have this massive mindset of “I pay for insurance, I should claim this $5,000 claim” but get all bent out of shape when their rate goes up or they get cancelled at the next renewal. Homeowners insurance is not meant to be a home maintenance program. Use it for major losses instead.
It is almost as if people cannot read "sudden and accidental"
This post was edited on 3/22/23 at 2:13 pm
Posted on 3/22/23 at 2:12 pm to Bonkers119
gonna guess Harahan, gonna be Orchid, at 12-15k a year or citizens at 8+k a year!
Posted on 3/22/23 at 2:18 pm to deathvalleygrassmmmm
I work for Allstate and we've been writing through North Light for the South Shore. Homes $250k-$300k are running $4-5k with 5% Hurricane and $2500 All Perils.
The only issue is their underwriting has had a 1-2 week turnaround before we even get an approved quote.
The only issue is their underwriting has had a 1-2 week turnaround before we even get an approved quote.
Posted on 3/22/23 at 2:25 pm to Bonkers119
I own a house in Gulfport south of the rr tracks in a lower middle class neighborhood. Mine is now over 3k. I have no idea how my neighbors afford it. Praying for a respite from storms for a few years.
Posted on 3/22/23 at 2:25 pm to theunknownknight
Insurance companies have been complaining about at risk policies and why they even offer coverage. It has finally come to a head, I guess.
Posted on 3/22/23 at 2:30 pm to theunknownknight
What’s wrong with them having the money to pay a claim? Seems reasonable.
Rather they just bail out the min some money needs to be paid.
We a a society continue to take this.
Rather they just bail out the min some money needs to be paid.
We a a society continue to take this.
Posted on 3/22/23 at 2:50 pm to monsterballads
quote:
that's who just upped my premiums 48%
ugh great. at least I have a year......maybe
Posted on 3/22/23 at 2:54 pm to theunknownknight
Thanks climate change leading to more and stronger hurricanes…
Posted on 3/22/23 at 3:02 pm to theunknownknight
2 major storms go through the SW part of the state, no big deal. One goes through the most litigious region of the state, $75B event and a dozen carriers bounce...plaintiff attorneys run Louisiana
Posted on 3/22/23 at 3:03 pm to JohnZeroQ
The problem isn't the insurance companies baw. It's Louisiana
Posted on 3/22/23 at 3:05 pm to theunknownknight
I have Gulf States. It hardly increased at all from 2021 to 2022. But with their recent announcement that they will no longer be writing policies in St. Tammany, I'm scared as shite to see what happens when it's time to renew in July 
Posted on 3/22/23 at 3:07 pm to Roberteaux
quote:
I have Gulf States. It hardly increased at all from 2021 to 2022. But with their recent announcement that they will no longer be writing policies in St. Tammany, I'm scared as shite to see what happens when it's time to renew in July
We all better pray like hell that Louisiana doesn't get hit with a cat 3 or above this coming season. We'll all be with Citizens if that happens
Posted on 3/22/23 at 3:10 pm to theunknownknight
Cajun underwriters got me a policy in January in Lafourche parish. $2,300 year for $490,000 dwelling with 2% hurricane deductible.
Posted on 3/22/23 at 3:12 pm to theunknownknight
The lobbyist have been going hard for change lately and are finally pushing for legislative/regulation change. Hopefully it will help some. State has to make it more appealing for insurers to come in and we have to get rid of that whack arse 3 year no drop law.
Posted on 3/22/23 at 3:15 pm to theunknownknight
I had maison until they pulled out of Louisiana. I went with usaa and bundled it with vehicle insurance. Of course, I saw an increase in my homeowners insurance premiums.
Posted on 3/22/23 at 3:15 pm to theunknownknight
Wait till you see what all of this is going to do (and already doing) to the residential rental market. I have gone up on my rental rates the last two years and fixing to go up again.
I have State Farm for my personal residence (and autos) and while they have gone up, it hasn't been too bad - not sure if it is due to me being a 30+ year policyholder.
I have State Farm for my personal residence (and autos) and while they have gone up, it hasn't been too bad - not sure if it is due to me being a 30+ year policyholder.
Posted on 3/22/23 at 3:15 pm to Bonkers119
I work for Allstate as well and we have written more homes this month than we have ever written before. Its crazy. The crappy part is there are only few companies left and the rumor is Cajun, who just started last year, is already trying to pull out.
Posted on 3/22/23 at 3:16 pm to Roberteaux
quote:
St. Tammany, I'm scared as shite to see what happens when it's time to renew in July
Same here- Covington, existing Gulf States customer, no claims at all, and just got a notice of non-renewal
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