Though Isaac never grew into a monster hurricane like Katrina or Andrew, it still caused considerable damage with its torrential rains and subsequent floods to several parishes in southern Louisiana. According to the insurancejournal.com, thousands of claims are expected from the parishes of St. Tammany, Plaquemines and St. John the Baptist, which experienced an unusual amount of flooding.
James Donelon, Commissioner of Insurance for the State of Louisiana stated that only about 31 percent of the people in the affected areas had flood insurance. Much like in Florida, flood damage in Louisiana is not covered by typical homeowners and renters insurance policies, but coverage is available through the federally sponsored National Flood Insurance Program. As we’ve discussed in other posts, although the National Flood Insurance Program is a federal program under FEMA, the coverage is sold through most insurance companies. To find out if your community is eligible under the program, please visit FEMA’s website.
It is important to note that coverage under the National Flood Insurance Program is limited to $250,000.00. This means that if your house is valued over that amount, you will need to get additional flood insurance from a private carrier. However, please note that being insured with the national program is a condition precedent to being able to get such additional insurance.
Thousands of Flood Claims
So far, State Farm Insurance Co. had received 16,780 claims from both Mississippi and Louisiana by late Monday. The majority – about 15,000 – came from Louisiana and almost 12,000 of those were homeowners or business property claims. This prompted Mr. Donelon to issue an emergency rule to prevent late fees, penalties, cancellations or non-renewals on insurance policies from hitting policyholders. The emergency order will also allow residents with health insurance coverage to qualify for out-of-network medical care if they are stranded in places away from their usual providers.
It is alarming how many people just do not have flood insurance coverage, despite living in areas where experiences from Katrina tell us are likely to get flooded. Yet, as stated before, not everyone qualifies for the National Flood insurance Program. Visit FEMA’s website to find out whether you live in an area the makes you eligible for coverage or not.
The Lawyers of Greenberg Stone and Urbano Can Help
You should always have an attorney help you review your policy and advise you on what coverage you should have and for how much. If you are about to renew your policy (with the same insurer or a new one), we can help you review it and make sure you are adequately covered and in a position to avoid costly expenses should disaster strike.
With more than 75 years of combined experience, the Miami Dade County Homeowners Insurance Claims Law Offices of Greenberg Stone and Urbano have helped thousands of Homeowners all over Florida review their policies, present their claims and get the compensation owed them by their insurance carrier.
Additionally, please note that if your home has already sustained damages, our team of loss consultants, paralegals, and attorneys will assist you in every aspect of your claim. Our loss consultant will even go to your home to evaluate the damage you sustained at no cost or obligation to you. Visit our website to learn more about our firm and contact us today for a free consultation or to schedule a free inspection by our loss consultant.