With soaring insurance premiums, agents say study policies closely and consider home upgrades for the best price

Discounts might be worth the cost of wind mitigation upgrades
Published: Jun. 1, 2023 at 8:43 PM CDT
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NEW ORLEANS (WVUE) - Property owners continue to struggle with an insurance crisis after several companies pulled policies and premiums soared in Louisiana.

Business is brisk at Louisiana Twins insurance agency in Harvey right now, but owners Maria Ross and Nelly Delacruz say they are not excited about the reasons.

“Most of the people are looking for options to either downgrade their coverage or decrease or give up some of the coverage that they have or change the type of policy that they have now,” Ross said.

For many, the new premiums are unaffordable.

“The increase that we’re seeing right now is basically three, four times, five times what you were paying two years ago,” Ross said.

“Let’s pray. And that’s all I can say. Let’s pray it’s going to get better. Let’s wait and see what’s going to happen,” Delacruz said.

They say if you receive a renewal, it’s likely the best offer. Ross said writing a new policy will cost more, but there are things to look for to make sure you’re getting the best possible price.

“Make sure you understand the coverage that you are choosing. Make sure your agent is breaking down the coverage that you are carrying at this moment with this market and the type of policy you’re getting and choose your own deductible,” she said.

The agents advise you to ask for all the available options to compare deductibles and coverage, and make sure all the proper information is listed in your policy that can provide discounts such as the current age of your roof, if you have an alarm system, or home inspections to certify your home’s hardiness.

Ross said an inspection that costs around $200 can significantly reduce premiums if your home meets the qualifications.

“The updated plumbing, electrical box, and also, the type of roof you have... that will also help you with the discount,” he said.


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The Insurance Institute for Business and Home Safety used decades of research and practical testing at its South Carolina headquarters to create the Fortified Building Standards. The nonprofit’s goal is to help builders build better.

“What drives me and most of our folks here at IBHS is that we’re really about trying to prevent people from having to go through that kind of devastation and disruption,” said Fred Malik, IBHS managing director.

The Insurance Institute for Business and Home Safety uses life size models to test building...
The Insurance Institute for Business and Home Safety uses life size models to test building standards.(IBHS)

New buildings and those needing to re-roof could see significant premium discounts by meeting the standard.

“Our function is really to keep those losses and drive those losses down. Insurance as an industry is all about reading risk, pricing risk and so it stands to reason that as properties become more durable then there’s an opportunity to look at them,” Malik said.

While the discounts vary greatly between insurers and individual properties, they can be anywhere from 20 to 50 percent. In some cases, the work required to meet the Fortified Roof certification can cost less than $1,000 dollars to retrofit.

Learn more about the inspection process and what your home needs to qualify in the Louisiana Loss Mitigation Survey at the Louisiana Department of Insurance website. The Insurance Institute for Home and Business Safety gives more information on the Fortified Home Standard and how to qualify.

Experts say competition and a greater number of resilient buildings are what it will take to see more manageable premiums overall.

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