New Orleans residents are no strangers to hurricanes or flooding, but it can still be confusing as to whether or not you need flood insurance. As hurricane season approaches, the team at Scott, Vicknair, Hair & Checki, LLC wants to discuss various insurance requirements, including flood insurance, for this area. We are here to help if you are denied coverage or given a hard time by your insurer after making a claim. Our New Orleans bad faith insurance attorneys are here to protect you.
Hurricanes can be devastating in this area
We do not need to stress just how serious hurricanes can be to the Louisiana coast and areas inland. Since it is still early in the year, this is a good time to check your homeowner’s insurance policies to ensure you have adequate coverage if a storm does cause damage to your house.
In general, your homeowner’s insurance policy will cover damage caused by a storm’s wind, including the roof coming off, tree damage, etc. However, you should be aware that most insurance carriers will use an “all peril” deductible in these cases. Also known as a “hurricane deductible,” this will typically kick in once a storm has been named. While most homeowner’s deductibles range from $500 to $2,000, an all period deductible will be based on a percentage of the homeowner’s property value (typically from 2% to 5% of the value).
Another major concern is flood insurance. Most homeowner’s policies do not cover damage caused by flooding. Many homeowners in New Orleans are required to have coverage through the National Flood Insurance Program, but this is determined based on federal flood maps. If you do not have flood insurance coverage, you should consider purchasing it. According to some studies, around 25% of flood insurance claims are made by those living outside of high-risk flood zones.
Let us get to work on your behalf?
If you or somebody you care about has concerns about your insurance coverage or the treatment you have received from the insurance carrier, contact Scott, Vicknair, Hair & Checki, LLC today. Our Skilled and experienced team will investigate your claim and work to ensure you receive the coverage you are entitled to. You can contact our New Orleans bad faith insurance attorney for a free consultation of your case so we can discuss your next steps forward today.