GET DAILY REPORT FREE
Flood insurance is a tenet of life in water-burdened Louisiana, where the low-lying portions of the state face rising water from the disappearing coast and more frequent heavy rainfall from hurricanes and seasonal storms that outpace the ability of local drainage systems to clear flooding.
But as Louisiana Illuminator reports, the skyrocketing cost of National Flood Insurance Program coverage is spurring significant departure from the program, with about 70,000 policies dropped in Louisiana from 2022 to 2024. When paired with the ongoing home insurance crisis in Louisiana, this raises premium costs even higher.
Many are dropping insurance, contributing to an endless cycle of higher payments for those who need to maintain flood insurance or want to mitigate the risk of facing rising floodwaters.
Marguerite Oestreicher, director of Habitat for Humanity in New Orleans, describes the struggle for homeowners already struggling financially.
“It’s not that people want to be uninsured. It’s just, you know, the math just doesn’t work, and you don’t have enough cash to cover basic needs,” Oestreicher says. “It’s groceries, it’s health care, power bills … we are seeing people do without because of insurance.”
