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On Mississippi Gulf Coast, the crushing cost of homeowners’ insurance …

On Mississippi Gulf Coast, the crushing cost of homeowners’ insurance …

On Mississippi Gulf Coast, the crushing cost of homeowners’ insurance …
News from NOLA.com:

In Mississippi,┬áThe Sun-Herald reports on a Long Beach couple not sure they can keep their house. The homeowners’ insurance policy has skyrocketed some 225 percent since Hurricane Katrina, the article says.

And that’s for a home that filed no claim after Katrina.

Louisiana has recently seen its insurance situation stabilize since the double whammy of Katrina and Hurricane Rita caused nearly $ 30 billion in claims, according to state figures.

Despite the unprecedented damage, Insurance Commissioner Jim Donelon said increased competition from providers has calmed the Pelican State’s market. After an average 2.3 percent jump in prices in 2013, premiums in Louisiana increased only 1.9 percent in 2014, Donelon said.

That’s a big change in five years. In 2010, on Katrina’s 5th anniversary, a headline at NOLA.com | The Times-Picayune said home insurance prices

… Read the full article


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