Hurricane Laura was the most intense storm to hit the northwestern gulf coast area since 1856. Only a few weeks after Hurricane Laura hit, Hurricane Delta made landfall near Creole, Louisiana. Delta, a mid-cat 2 storm, hit Louisiana on Friday. According to a recent MReport and CoreLogic, there was $.8 to $1.5 billion additional damages from Hurricane Delta. CoreLogic studies and reveals property data that has been tracked from disaster related losses throughout 2020. CoreLogic also revealed that fortunately the damages did not reach worst care projections. Just before Delta landed about 15 miles from where Hurricane Laura devastated communities, it weakened. Despite this, CoreLogic says property owners and insurers face significant work in their future. Tom Larsen, who works in insurance solutions at CoreLogic stated, “Recovery from Hurricane Delta will likely be exacerbated due to ongoing rebuilding efforts following Hurricane Laura. Damage from Hurricane Laura extended inland and concentrated on roofs and exterior building cladding, and Delta’s impact could have a double-jeopardy impact. For homeowners, it is critical to work hand-in-hand with insurers to understand their coverage and financial responsibility”. 


Additionally, the report includes information about insurance policies and deductibles in Louisiana that could be crucial during this time. For example, one of these laws is that after Hurricane Katrina, Louisiana passed a law mandating annual hurricane deductibles for homeowners. Experts expect that most insured homes with damage from the two recent hurricanes will only have to pay one deductible. In regards to the homes damaged from floods, CoreLogic reported that insurance does not typically include flood damages. The report stated, “The predominant insurer of flood coverage of homes in Louisiana is the National Flood Insurance Program (NFIP) which is federally regulated. The NFIP policy is a loss-occurrence based policy and these two storms are expected to be treated as separate flood events”. The report also analyses losses for residential homes and commercial properties.

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