The program to bring new insurance companies to Louisiana to write homeowner's policies and create competition that will lower rates is working, according to the sate's insurance commissioner.
"Successful beyond our hopes an expectations," is how Louisiana Insurance Commissioner Jim Donelon describes the Insure Louisiana incentive program.
Donelon says it has helped tens of thousands of homeowners find affordable insurance.
"Almost 29,000 policies have been written since April," said Donelon, and that is 29,000 homeowners who will not have to buy expensive policies from Louisiana Citizens, the state's insurer of last resort.
"Which is devastating," said Donelon, "and frankly threatening their ability to continue to stay in their home because of the cost of Citizen's Insurance."
Because there is money left in the program, the state is launching another round of incentives to get even more companies to offer homeowner's insurance in Louisiana.
