Louisiana Citizens insurance crisis Jim Donelon

There are over 100,000 Louisiana residents using the state’s insurance of last resort amid a home insurance price crisis. It was announced this week that Louisiana Citizens’ last-resort insurance will increase by 63%. WDSU Investigative Reporter Aubry Killion sat down with Louisiana Insurance Commissioner Jim Donelon to get answers for residents looking for affordable home insurance. Donelon told WDSU that he hopes to have 12 new companies writing policies in the state next year, but those companies have signed anything in writing to commit to the state. Donelon also said he does not have a date yet for an incentive program to lure companies into the state because the funding hasn’t been secured. A total of 120,000 to 130,000 policies were canceled in the past year in Louisiana. Donelon encourages anyone on Louisiana Citizens to begin shopping around for new insurance now. Anyone on Louisiana Citizens will not see the rate increase until their current policy expires.

There are over 100,000 Louisiana residents using the state’s insurance of last resort amid a home insurance price crisis.

It was announced this week that Louisiana Citizens’ last-resort insurance will increase by 63%.

WDSU Investigative Reporter Aubry Killion sat down with Louisiana Insurance Commissioner Jim Donelon to get answers for residents looking for affordable home insurance.

Donelon told WDSU that he hopes to have 12 new companies writing policies in the state next year, but those companies have signed anything in writing to commit to the state.

Donelon also said he does not have a date yet for an incentive program to lure companies into the state because the funding hasn’t been secured.

A total of 120,000 to 130,000 policies were canceled in the past year in Louisiana.

Donelon encourages anyone on Louisiana Citizens to begin shopping around for new insurance now.

Anyone on Louisiana Citizens will not see the rate increase until their current policy expires.

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