It’s the kickoff for hurricane season and forecasters are predicting as many as 14 named storms with anywhere from 3 to 6 of these storms growing into major hurricanes. Here on the Gulf Coast, we certainly perk up when this time of year rolls around. For years, a good story in south Louisiana went like this:
“I’m a Catholic, so I certainly know a good bit about suffering,” she would say.
“Yeah, I’m a Louisiana homeowner, he answered.
“Oh, so you understand.”
With major hurricanes recently hitting Florida and Texas, and since some parts of Louisiana are still cleaning up after last year’s torrential rains, many property owners in the Bayou State are asking if insurance rates will go up. Will rates go up? Is the Pope Catholic? Does Grizzly Adams have a beard? Of course we all will be paying more.
Hurricane Harvey and Hurricane Irma have caused property owners along the Gulf and East Coasts to panic over projections of outrageous property flood insurance rates that, in some cases, could lead to increases of greater than 1000 per cent. Is there really a problem finding affordable flood insurance along America’s coasts? Yes, and a growing one.