Live Insurance News

Most expensive auto insurance sold in Michigan and Louisiana

August 24, 2017August 21, 2017 H. Cutner

While Michigan’s rank at the top hasn’t changed, Louisiana has climbed back up after having fallen. Expensive auto insurance has become a way of life in certain states, and for Michigan drivers that way of life is more costly than any other state. Similarly, Louisiana, which had been dropping in the ranks among the most costly to purchase coverage, is back in second place. There are many reasons that contributed to a state-wide trend of higher insurance rates than the rest of the country. In Michigan’s case, the reason remains…

Tornado insurance tips to help victims of damage

May 5, 2017May 3, 2017 Marc

Adjusters released a number of recommendations to homeowners affected by last week’s storms. Last weekend hundreds of homes were hit by an EF1 tornado and throughout this week, tornado insurance adjusters have been dispatched. They’ve been visiting the affected areas of South Carolina and Louisiana. As insurance companies do their best to assist the victims of the storms, they have also issued advice. The tornado insurance adjusters have made a number of recommendations to homeowners still waiting for their damage to be assessed. As many of the homeowners don’t know…

Louisiana recovers funds from homeowners insurance providers, as well as others

January 27, 2016January 26, 2016 S.Vagus

State agency recovers $5.1 million in insurance claims throughout 2015, resolving consumer complaints The Louisiana Department of Insurance has announced that it has recovered some $5.1 million in insurance claims in 2015. Insurance Commissioner Jim Donelon notes that state regulators have been working with representatives from several insurance companies to resolve complaints associated with a wide range of coverage. The majority of the funds recovered by state regulators have been recovered from the property/casualty sector, as well as the health insurance sector. According to the Department of Insurance, more than…

Homeowners insurance from Citizens may be getting pricier (again)

January 19, 2016January 17, 2016 H. Cutner

Louisiana residents with this coverage may soon be paying more for their coverage later in 2016. Residents of Louisiana who purchase the homeowners insurance of last resort in the state may soon find that their rates are going to be higher than they had been last year, if Citizens gains approval for an increase request that they have submitted. The increases wouldn’t go into effect until later this year, but property owners should prepare themselves. Should the homeowners insurance rate increases be approved, it will be residents of Terrebonne and…

Citizens Insurance in Louisiana dumps more policies

December 2, 2015December 1, 2015 Julie Campbell

Citizens Insurance Louisiana homeowners insurance property

The Insurance Commissioner from the state, Jim Donelon, has announced new participation in this effort. A recent announcement from Insurance Commissioner Jim Donelon has shown that three new insurers have added themselves to the efforts to reduce the number of policies carried by Citizens Insurance in Louisiana. Citizens Property Insurance Corp. has been working to shrink its size after becoming quite bloated. The state’s property insurance company of last resort had been swelling in size following Hurricane Katrina in 2005, and then hit its peak size following Hurricane Rita in…

Auto insurance fines create controversy in Louisiana

November 10, 2015November 8, 2015 Logan B.

Office of Motor Vehicles sends more than 1 million letters to drivers for lapsed insurance coverage The Louisiana Office of Motor Vehicles has sent out more than 1 million letters to drivers, seeking to collect some $400 million in fines associated with lapsed auto insurance coverage. These letters were sent to approximately 550,000 Louisiana drivers, many of whom have more than one vehicle, or were unable to insure their vehicles for a period of time. Some drivers are facing fines as high as $656 for driving without auto insurance coverage.…

Auto insurance fines spark controversy in Louisiana

October 28, 2015October 26, 2015 Marc

Louisiana Office of Motor Vehicles aims to collect on fines that are decades old Louisiana Insurance Commissioner Jim Donelon is taking aim at the state’s Office of Motor Vehicles. Last week, the agency issued notifications to consumers throughout the state, seeking to recoup millions of dollars in fines for auto insurance lapses. A significant portion of these fines are quite old, with some coming from violations dating back as far as 1986. Notices issued to consumers caused an outcry, which got the attention of the Louisiana Department of Insurance. State…