With the average cost of homeowner’s insurance in Louisiana standing about one hundred dollars more than the national average and car insurance rates topping nationwide rates by more than four thousand dollars, many of the state’s residents are eager to see savings from the legislative changes made during the latest session.
However, seeing those changes bear fruit could be a long time coming. State Insurance Commissioner Tim Temple says that patience is the virtue needed to see the results.
“It is going to happen. Not today, but it is going to happen.”
Temple says though that may not be the desired news, one positive is that insurance carries and those in the reinsurance sector are responding to the state’s efforts.
“I have had conversations with the industry, those who aren’t doing business in Louisiana right now, and they say they see the necessary changes and are ready to write in the state again.
All in all, the Commissioner says that the state is moving in the right direction and everything accomplished legislatively will eventually bear fruit.
“We made some solid changes. Everyone wants it immediately.
It will happen.”
