Ashley Morris wrote a post a couple of days ago about rising insurance rates. He sites an article where a Kenner woman's home insurance rose 463 percent, that's PERCENT, folks. I've mentioned that we've run out of space in our current home. In looking at our options, I've started to feel trapped by insurance rates. As much as I struggle with the idea of opening my home search to outside of Orleans Parish, the insurance rates are just as bad in Jefferson Parish so there's really not point in even trying. We're still entertaining the idea of an addition but contractor bids are coming in as much as $20K over what I was originally told.
I guarantee that if my insurance rates quadruple this fall, I will be doing some serious thinking about what it will take to remain in this city (you know, as if I haven't already). We have all put up with a lot and those of us that remain do so because we have some hope left. It's bad enough that my car insurance is nearly the same amount as my monthly car payment -- I don't think that I'm up to $400 extra a month to carry hazard insurance on my house.
1. Is Kenner outside New Orleans? Was that area severely damaged by the hurricanes too?
I wonder how many insurance companies are actively writing new business there. Have you tried shopping the insurance around. Is this rate increase typical of all carriers.
Outside Louisiana people are of the opinion that another strong hurricane season will bring the same devastating results that were seen in New Orleans. What do residents there think?
My wife is from near Lafayette but we do not get back there very often, unfortunately (work and family).
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Posted at 2:08PM on May 25th 2007 by gary brown