Small (but welcome) signs of improving home insurance options

Dated: March 1 2024

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Earlier this week, one of our valued insurance partners informed us of some good news on the home insurance front from two carriers that serve our market:

SURE Insurance

  • Maximum Coverage A increased to $1,250,000 (was $750,000)
  • In Orleans, Jefferson, and St. Tammany parishes, roof age limits increased to up to 15 years for permanent roofs (metal, slate and concrete/clay tile) and up to seven years for non-permanent roofs (architectural/asphalt/or composition shingles, built up, rubber, modified bitumen or single ply membrane.
  • In all other parishes, roof age limits increased up to 15 years for permanent roofs and up to eight years for non-permanent roofs

Wilshire Non-Admitted HO31

  • Roof age increased up to 12 years statewide

This is encouraging news for home buyers and sellers who have faced financial challenges with insurance rates since hurricane Ida in 2021. In some cases, real estate deals were cancelled due to exhorbitant premium quotes. Many thanks to our friend Tal Saidi of Marsh McClennan Agency for keeping us current in local insurance matters!

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Bill Baker

Bill Baker is a New Orleans native who has lived and worked in numerous local neighborhoods including Metairie, Uptown, Lakeview, Garden District and the Warehouse District. He is a graduate of De La ....

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Earlier this week, one of our valued insurance partners informed us of some good news on the home insurance front from two carriers that serve our market:SURE InsuranceMaximum Coverage A increased

Read More