Over $115M in Federal Flood Claims Paid in Louisiana After 2020 Hurricanes

As of Feb. 1, the National Flood Insurance Program (NFIP) had paid out more than $115 million in flood claims in Louisiana in response to the 2020 hurricane season. That figure is up from the $110 million in NFIP payments reported in mid-January.

FEMA reported that 35% of Louisiana NFIP flooding claims came from policyholders in moderate to low-risk flood zones.

The federal emergency assistance agency has reminded property and business owners, as well as renters in moderate- to low-risk areas, of the availability of lower-cost flood insurance known known as Preferred Risk Policies (PRPs).

A single-family residential building can be insured up to $250,000 and its contents up to $100,000. Flood insurance for renters can cover contents up to $100,000. Non-residential property owners can insure their buildings up to $500,000 and contents up to $500,000.

FEMA noted, however, that most renters are not given any information about flood dangers when they look at properties. As a result, tenants are less likely than homeowners to have adequate insurance, FEMA said.

Topics Catastrophe Natural Disasters Claims Flood Louisiana Hurricane