Louisiana Insurance Issue

Louisiana Fair Plan

One of my personal investment properties in Kenner, LA suffered damage due to Hurricane Gustavo in August. After several claims with the Louisiana State Fair Plan, I have found the best way to deal with them is to be proactive. My latest claim dealing with Hurricane Gustavo is almost finish. Last week the first week in December I receive my first check from the insurance company. Approximately 100 days since the claim occurred. There was some redirection as you may know; now the check needs to be endorsed by my bank. After receiving the break down for the lost I notice my rental loss income was not included. I had provided a copy of the rental agreement to the insurance adjuster. On a follow up call they responded that they had not received the copy of my rental agreements. I then faxed a copy and still not accounted for. After sending 4 copies they finally had a copy in my file. The problem is that the claim had already moved to the reviewers. Now this would be handle separately. This is normal course for the Fair Plan. My advice is to call and check and recall until the entire process is completed.

The Fair Plan is the only source of insurance for investment property in Louisiana at present.

If you have any questions on dealing with investment property or insurance claims dealing with investment property feel free to email.