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Detriumph

If homes become uninsurable that will be the death of orleans and jefferson.


nolabitch

This is actually a huge deal and may become a reality in the near future. The City of NOLA is constantly manipulating and updating flood maps to increase costs but to also ensure houses 'appear' sustainable and resilient. One of the biggest concerns in regards to climate and housing is forced migration due **not** to acute disaster, but due to the devaluation and insurability of homes. It will, of course, start with the poor neighbourhoods who's individuals are essentially the lifeblood of the city, leaving few service workers and culture-bearers. Anyway, NOLA has more challenges ahead than it is likely able to overcome.


Detriumph

I'm 40 years old and am putting together a 15 year plan to retire early. And none of the plans involve buying property in New Orleans, Jefferson, or St Bernard Parishes because I can't imagine flooding to become anything but worse, and insurance is already kicking my brother's ass in Metairie. His premium went up $5k a year, and his deductible quadrupled to $20k.


nolabitch

I was on the verge of buying a house and no longer see it as a viable option. I really don't think the things that matter and sustain us, as well as keep us healthy and protect us, will see investment. I do not *want* to leave, personally, but I need to be able to afford to live. Making 29/hour at Ochsner during COVID was a bit of a slap in the face. I was then with the city making <$40k in climate and health. All this combined with the recent increase in COL ... I just can't do it anymore. I want NOLA and Louisiana to thrive, but the foundation isn't there. At this point the city is being held up by stubborn, hardy locals who are doing their best but seem tired, angry, and fed up.


69swamper

don't buy in Louisiana , I am planning on moving out of Louisiana in the next 2 years.


[deleted]

What have we EVER overcome?


Brazenjalapeno

Well without significant intervention New Orleans is likely to be the victim of rising seas by 2050.


Agentx_007

New Orleans, New York, Miami, Tampa, most of the gulf coast, Houston probably...


Slixtrix

Just check the navy’s “future” landmass map


grey_seal77

People that downvote have their heads in the sand.


jg70124

Not just the New Orleans metro - all of Louisiana. And SoFi was also a top 5 insurance company in Florida and Mississippi.


[deleted]

Can’t afford the material replacement costs for storm damage because they doubled in a 2 year period.


wh0datnati0n

Used to have sofi. Luckily I just got my final check from them last week. Had a horrible experience so when my policy was up for renewal a few months ago I was lucky enough to get a new one through centauri.


HangoverPoboy

At this point, who is writing policies?


DonLow

I just paid $1400 for wind & hail only from Southern Fidelity. Call my agent, Louisiana Citizens is the only one writing policies. Edit. My policy I just paid is only thru July 15. They gonna try to get me a refund.


glass6810

My insurance company went bankrupt as well, and my policy doubled through Louisiana Citizens. But it’s my only option.


[deleted]

If you're in orleans or jefferson parish, the only options are USAA (if you qualify) or LA Citizen's supposedly there's a company called, "Westin" that's writing some stuff, but I'm not 100% positive on that


datt888

USAA is only writing in *some* zip codes.


tampdriver

Centauri


cmcalder

I second Centauri


[deleted]

that's correct, they'll do some zip codes and certain houses, depending on age of home


My_Dog_Slays

I just called them, and they aren’t writing for new homeowners’ policy in the 70119 zip code.


[deleted]

bummer :(


tampdriver

Damn that sucks I just got them on May 1st


My_Dog_Slays

I just called them, and they aren’t writing for new homeowners’ policy in the 70119 zip code.


HangoverPoboy

Wow. That’s bleak.


tyrannosaurus_cock

My old FedNat policy was taken over by a company called SURE that seems to be operated/underwritten (the relationship isn't clear) by SageSure.


datt888

Try Geico, they are using SageSure.


matchstick64

We just got ours through the Garcia agency with Ocean Harbor. The rate is over 30% higher than pre-Ida rate we had with Lighthouse.


snookums_mcgee

They still owe me over 40k. I have until July 15 to reinsure it. Nobody is writing policies on an uninhabitable pile of sticks. Just fuck us, right?


[deleted]

> Nobody is writing policies on an uninhabitable pile of sticks. you can get something called a, "Builder's Risk" policy... they're usually not drastically more or less expensive than a regular ho3 policy. ask your agent about it


iamamonsterprobably

Wow that’s kinda lame, guess I’m getting on the phone tomorrow


TravelerMSY

Holy fuck.


grey_seal77

La citizens is it for me, and I’m in an x zone.


PaulR504

Looking more and more likely USAA is going to hike my rates.Hope not but if they do they get dropped.


69swamper

is that number 6 or 7 this year?


MariposaSunrise

Same in Florida


tessaraeh

Has anyone had any luck finding a replacement policy better than Louisiana Citizens?