Lafayette
337-446-2442
Caffery, Oubre, Campbell & Garrison, L.L.P.
New Iberia
337-352-2310
Service, Integrity, Results

Insurance disputes continue long after Superstorm Sandy

Most policyholders do not understand their insurance policies. Until they need them. Then, they begin to climb the learning curve. This can result in numerous policy coverage disputes, disgruntled policyholders, claims of bad faith and eventually, insurance litigation.

Insurers in Louisiana have seen this issue develop with homes damage as a result of Gulf storms that frequent the area. More recently, insurers are dealing with the large volume of claims that have arisen from the aftermath of Superstorm Sandy.

These types of natural disasters often tease apart the differences in coverage. A homeowner may believe that their flood insurance coverage is "just like" their homeowners policy. But its coverage may be very different and could provide them with well below replacement value for their property.

National Flood Insurance Program provides coverage for floods, but homeowners may be shocked to learn that it does not cover external structures around their home, such as swimming pools, sheds and decks. It likely will not pay for replacement of their personal property at today's prices, but only the current cash value of their old property.

And they may have been underinsured, having failed to update their policies as the value of their home increased. Because flood insurance caps at $250,000 for the structure, if the property exceeds that amount, they should look into excess flood insurance to cover a gap in coverage.

Many coverage disputes are caused by homeowners who do not understand their insurance policies and the items that are covered by that insurance. While companies should always strive to explain their policies to their purchasers, anyone who lives in an area like Louisiana should take the time to examine their coverage and discuss coverage changes with their broker.

Newsworks.org, "Why many Superstorm Sandy homeowners were denied insurance coverage," Scott Gurian, NJ Spotlight, January 20, 2015

No Comments

Leave a comment
Comment Information

contact us

With offices in Lafayette and New Iberia, our lawyers represent clients in state and federal courts throughout Louisiana. Contact us today to schedule your case assessment with one of our experienced attorneys. Email or call us at 337-446-2442 to reach our Lafayette office or call 337-352-2310 to reach our New Iberia office.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Lafayette Office
100 East Vermilion Street
Suite 201
Lafayette, LA 70501

Phone: 337-446-2442
Map & Directions

Lafayette Office

New Iberia Office
800 South Lewis Street
Suite 205
New Iberia, LA 70560

Phone: 337-352-2310
Map & Directions

New Iberia Office