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Hurricane Claims News

Some Insurance Policies Have One Year Claim Deadline

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At a glance:

Many homeowner and business insurance policies in Louisiana have a one year limit on claims, so those affected by Hurricane Katrina are urged to check their policies and consult with their insurers to make sure this deadline is not missed. 
 
The State government is considering legislation to extend the claim period, and individuals can negotiate with their companies for this purpose, due to the extent of the devastation and uncertainty regarding rebuilding, even months after the storm. 
 
The article goes into some detail about pending legislation, and how to protect your rights with regard to this deadline.

Clock is ticking on storm claims

Times Picayune - 5/17/2006 9:47 AM

Louisiana consumers have until Aug. 29, the first anniversary of Hurricane Katrina, to resolve their storm-related homeowners and business insurance claims, unless state lawmakers pass legislation putting off the deadline for another year.
 
Most insurance policies carry a one-year statute of limitations, which means policyholders have up to a year after the loss to file any lawsuits disputing their settlement. Once that date passes, it's hard for consumers to negotiate for more money because insurance companies know their policyholders have no legal recourse.
 
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