New Orleans residents frustrated over homeowners insurance

Residents able to ask questions about homeowners insurance as price hikes loom.

NEW ORLEANS — As of February, Hurricane Ida has cost the state $75 million, making it one of the most expensive storms on record. A year later residents are still trying to get insurance to fix damages.

More than a dozen insurance companies have left the state, homeowners are now scrambling for coverage. Many Louisiana residents are fed up with homeowners insurance and price hikes, along with the difficulty of getting coverage.

One resident told Eyewitness News, “I have been insuring my home for more than 20 years.”

RELATED: Louisiana homeowners scramble after insurance companies cancel policies

“After Ida the insurance company went under, so Louisiana Guarantee took over. It’s been a hassle just trying to get them to pay for the roof,” she said

More than a year later, she said she’s still dealing with leaks after roof damage from Ida, saying, “I need a roof, cause it’s still leaking and it’s getting worse and I am putting things in the attic to catch water, and I shouldn’t ‘t have to do that.”

Frustrated residents are finally able to ask how to manage their policy at Tuesday’s, ‘Know Your Policy Event’. The goal of the session is to answer questions and ease concerns for policyholders, to ensure they know the proper steps to take if they need to make a claim.

RELATED: Helping you understand your homeowners policy

“To get with them before the next storm hits, to help them understand not only what’s going on in the insurance market that affects them but the basic policy,” Ron Camarota with the Louisiana Department of Insurance’s office hosted the event said.

Some insurance companies are stopping writing policies in certain areas… Recent Hurricanes, especially Delta, Laura, and Ida, the reason why.

“Even those that haven’t been affected, they’re worried if their insurance company is going to go under,” Camarota said.

Last week Insurance Commissioner Jim Donelon announced Louisiana Citizens Insurance had submitted a request to increase plans by 63%.

A price hike that would be a huge blow to thousands of homeowners across the state. However, nothing is final yet, the Commissioner said he is the one who decides whether to approve the rate or not.

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