Report: Louisiana, Texas most expensive places for homeowners insurance

The Times Picayune reported yesterday

Louisiana has the third-highest homeowners insurance premiums in the nation, according to the first assessment of prices after Hurricane Katrina by the National Association of Insurance Commissioners.

The cost appears to be a Gulf Coast epidemic as Texas claims the number one spot, followed closely by Florida:

The most expensive property insurance market in the country in 2006 was Texas, where premiums increased 2.7 percent in 2006 to an average of $1,409 per home. But the NAIC cautions against comparing Texas to any other market because the Texas data comes from a different source than most other states, and the homeowners policies are slightly different.

The explanation (or excuse?) for this is simple: the weather and risk level of the Gulf Coast places the financial burden on citizens to properly maintain insurance on their homes and property. While this demands constant vigilance on the part of state government and the citizenry to make sure insurance companies do not overstep what is necessary for them to remain successful and in business, it, in the least, requires policy holders to make sure they get their “bang for their buck” and get the best service and response they deserve from their insurance company.

Always make sure your provider is conforming to deadline requirements should you make a claim and, in the event they act in bad faith, contact an attorney immediately.

If you feel you have been underpaid in your claim or that your insurance company is not living up to their end of your policy, contact the Berniard Law Firm toll-free at 1-866-574-8005 to have an attorney inspect your possible case and give you the best legal advice you can get.

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