Below is a listing of frequently asked questions ranked in order of popularity.
In a parking lot, as in any place else you operate your vehicle, all of the usual rules regarding insurance do apply. For instance, if a driver is backing out of a parking space and hits another car that has the right of way, the first driver is at fault. But there are situations in parking lots where fault is not as clear cut. For instance, if you and the other driver were both backing out of a space or were both cutting across empty spaces when you collide, both drivers may be considered at...
The Louisiana Department of Insurance (LDI) does not have data on average homeowners premiums. You may want to view the Homeowners Rate Comparison Guide which is published annually using information provided by insurance companies. You can find it here.
A producer or adjuster license can be voluntarily surrendered by submitting a statement signed by the license requesting the cancellation of the license. If the licensee is a business entity, the request should signed by an agency owner, officer, director, partner or other member of the entity management empowered to act on behalf of the entity. The signed statement can be faxed to (225) 342-3754 or sent via e-mail to producerlicensing@ldi.la.gov
Yes, there are some insurers that have homeowners’ policies that do not have a named storm deductible, but instead have a policy deductible or a “windstorm” or “hail” deductible. The amount may vary from $500 to $5,000 or more. The deductible may also be stated as a percentage of the Coverage A (structures replacement) limit. If you find a company that has a windstorm or hail deductible, we would suggest that you review the policy language relative to the deductible with a licensed agent to...
There are many factors that insurance companies look at when setting homeowners premiums. Here are some factors that can affect your premium rate:The geographical location and specific characteristics of your home. For instance if you live in an area considered at high risk for storm damage and whether your home is made of brick or wood. It is common practice for insurance companies to increase a policy's replacement coverage limit by 3-4 percent on an annual basis. These annual increases take...
Coverage would depend on the type of policy you have on the vehicle. If you have a Comprehensive policy on your vehicle, you will more than likely be covered for damage due to flooding. However, if you have only Liability coverage or Liability/Collision coverage, it is highly probable that you will not be covered for any flood damage to your vehicle. You should check with your agent to find out what your policy covers and in what amounts.
If you have an individual or small group health insurance policy, there are four factors that can affect your rate:Age - Premiums are limited by law. For example, a 63 year-old enrollee cannot have a premium more than three times greater than a 21 year-old on the same plan.Tobacco use - Tobacco users can be charged up to 50 percent more than those who do not use tobacco.Geography - Insurers can vary insurance premium rates based on geographical rating areas within the state.Individual or...
Each insurance company has its own criteria, rules, underwriting guidelines, business practice, etc. that the applying risk must meet in order to be offered insurance coverage. These rules, underwriting guidelines. etc. vary from company to company. Denial of coverage could be for various factors (e.g. specific type dogs, swimming pools, steps without rails, exotic pets, burglar bars on windows, etc.) determined and set by each insurance company.Yes, an insurance company may and can...
The service of process contact can be found on the LDI website. Under either the Consumer or Industry tab select the link for “Find Companies”. In the Active Company Search, select any method of search you wish from the dropdown menu and complete the search. Select the correct company from the results page with the link under the “Name” field. “Service of Process” will be a dropdown option under the details of the company. Select the double arrows to enlarge the section and find the required...
Mental health parity law prohibits differences in the following factors for mental health or substance use treatments as opposed to medical benefits:What you pay: Copays, coinsurance, deductibles, and out-of-pocket maximums;How much treatment you can get: Limitations on services utilization, such as limits on the number of visits that are covered;The use of management tools, such as pre-authorization requirements;Which doctors you can see: coverage for out-of-network providers;The criteria the...
