Who Needs Insurance?

Jr. Henry T. Capello  |  4/3/2009 9:41:14 PM


Almost everyone who lives in Louisiana should purchase some form of flood insurance. This is particularly true for the coastal parishes, and parishes where land is excluded from the Special Flood Hazard Area because it is protected by a levee. The type of insurance policy to be purchased and amount of insurance required will be determined by a variety of factors, including:

  • The type of structure to be insured (i.e., single-family house, multiple-family residential building, condominium, business, manufactured home)
  • Where the structure is located (i.e., inside the Special Flood Hazard Area shown on the FIRM, outside the Special Flood Hazard Area)
  • When the structure was built
  • Elevation of the structure
  • The value of the insurable contents within the structure (renters may purchase this coverage without insuring the building)

To learn more about how to purchase this important protection for your home, family or business, visit the FloodSmart Web Site.

If you live in an area that has been designed a Special Flood Hazard Area on the FIRM, you must have flood insurance. If you have a mortgage, your lender will likely require coverage. Be careful. The lender may only require insurance in the amount of the loan. Be sure to discuss the amount you need with your insurance agent. Have your insurance agent explain the advantages of contents coverage because the lender does not require it. Ask anyone who has ever had flood damage in their home or business, and they will tell you how important contents coverage can be.

If you do not live in a Special Flood Hazard Area, do you need flood insurance? Yes, you do. More than one-fourth of the structures damaged by flooding are located outside the Special Flood Hazard Area.

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