Flood Insurance in
Louisiana
At TWFG Luarca Insurance in Covington, LA, we understand that many homeowners and business owners are unaware of the critical protection that flood insurance provides. With the potential for devastating financial loss from floods, it's important to have the right coverage in place.
Why Flood Insurance Matters
Floods are the most common and costly natural disasters in the United States, causing millions of dollars in damages annually. In Louisiana, the average flood claim amounts to $53,400, while the average annual premium for flood insurance is just $871. Despite these figures, many believe their existing homeowner or business insurance covers flood damage—this is often not the case. Standard policies typically do not include coverage for flooding, leaving property owners vulnerable.
It's important to note that flood insurance policies have a 30-day waiting period. Waiting to purchase flood insurance until you need it can leave you vulnerable.
Flood Insurance Options for Louisiana
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Liability Insurance CoverageLiability insurance is required by law to cover property damage or bodily injuries resulting from an accident you cause. However, it does not cover injuries you or your family; for that, you will need Personal Injury Protection and Medical Payments coverage. Additionally, Liability coverage does not protect your vehicle, which is where Collision and Comprehensive coverages come into play. These extra options can prevent hefty expenses following an accident. Minimum Required Liability Coverage in Louisiana: $15,000 for Bodily Injury (per person) $30,000 for Bodily Injury (per accident) $25,000 for Property Damage You can always choose higher limits for added protection.
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Uninsured/Underinsured Motorist CoverageLouisiana Law requires insurance carriers to offer Uninsured/Underinsured Motorist (UM/UIM) coverage, however it is not a mandatory component of your auto insurance policy. This coverage protects you in the event of an accident caused by a driver lacking insurance or insufficient coverage. Minimum Required UM/UIM Coverage in Louisiana: $15,000 for Bodily Injury (per person) $30,000 for Bodily Injury (per accident) You can select higher limits if you desire increased protection.
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SR-22 InsuranceSR-22 insurance serves as a liability document for high-risk drivers. It demonstrates your financial responsibility and guarantees coverage for a specified period. If your policy is canceled or lapses, your insurer must notify the Louisiana Office of Motor Vehicles (OMV). Louisiana law requires an SR-22 in certain situations. It is typically mandated by the state for drivers who have: Been convicted of driving under the influence (DUI) or driving while intoxicated (DWI). Had their license suspended or revoked due to serious traffic violations. Been involved in an accident without proper insurance coverage. If you fall into one of these categories, you must obtain an SR-22 from your insurance provider, which will be filed with the Louisiana Office of Motor Vehicles (OMV). It's important to maintain the SR-22 for a specified period, usually three years, to avoid further penalties or license suspension.
FEMA Flood Data Tool
Explore Louisiana's flood history using FEMA's Interactive Data Visualization Tool. By hovering over each parish, you can see the frequency of flooding events in your area. This tool allows for a comparison between the federal disaster aid provided by FEMA and the SBA versus the payments made by the National Flood Insurance Program to policyholders. It’s clear that having flood insurance significantly enhances your recovery options.
Secure Flood Insurance Today
Don’t wait until it’s too late—protect your investment with flood insurance. At TWFG Luarca Insurance, we're here to help you navigate your options and secure the coverage you need. Call us today for a personalized quote and ensure that you and your property are adequately protected from the financial impacts of flooding.
