Home insurance will be more affordable for policy and nonpolicy holders
LOUISIANA (KLFY)-- Louisiana Insurance Commissioner Jim Donolen says we are in a crisis due to damaging hurricanes. Although many people were able to collect insurance for those damages, up to 125,000 people were not eligible for policies with these private insurers.
The Louisiana Department of Insurance is working to offer private company alternatives for those people. A special session was held. As a result, the Insure Louisiana Incentive Program was formed. This program will bring new insurance companies to Louisiana, which increased competition and lowered rates for policyholders statewide.
Donolen advises all policyholders to contact their agent and explore more options. He says there will be more affordable alternatives coming in the next month compared to previous prices.
For more information visit the Louisiana Department of Insurance website or call 1-(800)-259-5300.