Some southern Louisiana residents will see average rate hikes of 27 percent for homeowners insurance and some may pay 50 percent more, as a result of the Louisiana Insurance Rating Commission’s approval of a new price schedule for the Louisiana Citizens Property Insurance Corporation, the Associated Press reported. Louisiana Citizens is a nonprofit corporation and an insurer of last resort for homeowners in high-risk areas. State law requires Louisiana Citizens to charge at least 10 percent more than the most expensive of a parish’s top 10 private insurers.
Topics Louisiana Pricing Trends
Was this article valuable?
Here are more articles you may enjoy.
State High Court Weighs in on Woman Taken for Organ Donation But Was Still Alive 
California Insurance Commissioner Race Has Diverse Field Amid ‘Insurance Crisis’ 
Palm Beach Billionaires Feud Over Who’s Really Protecting the Everglades 
Study Finds ‘Alarming’ High Flood Risk for 17M Americans on Atlantic, Gulf Coasts From This Issue
