Louisiana policyholders searching for to file proof of loss for injury as a consequence of Hurricane Ida have till Feb. 25, when a 180-day deadline for many residential and industrial property insurance coverage insurance policies expire. Louisiana Insurance coverage Commissioner Jim Donelon is reminding policyholders that the 180-day interval begins on the date of the insured occasion, and Feb. 25 is the 180th day after Ida made landfall.
Ida made landfall on Aug. 29, 2021 as a class 4 storm. Swiss Re estimated that Ida could cost insurers $30 billion in complete insured market loss, making it the second-most costly hurricane to ever hit Louisiana.
“Submitting detailed proof of loss is a key part of the claims course of following a catastrophe,” mentioned Commissioner Donelon. “I encourage policyholders to ensure they supply their insurer with the documentation wanted to course of their declare in a well timed method and speed up their highway to restoration.”
Policyholders with questions on their proof of loss deadline are inspired to contact their insurer as quickly as potential.
In response to the Louisiana Division of Insurance coverage, state regulation requires that when a catastrophic occasion happens and civil officers declare a state of catastrophe or emergency pursuant to regulation, property homeowners throughout the declaration space shall haven’t have lower than 180 days from the date of the occasion to submit proof of loss to their insurer.
The LDI mentioned policyholders who have to file proof of loss ought to evaluate their coverage and make contact with their agent, insurer or adjuster for steering on the precise deadline per their coverage. If policyholders had been denied entry to their properties by civil authorities throughout a state of catastrophe or emergency, they may have a number of further days to file.
Brokers, insurers and adjusters may advise shoppers about what documentation will fulfill a policyholder’s proof of loss obligation, the LDI mentioned. Adequate proof of loss may embrace the preliminary injury declare, in addition to photographs, contractor estimates, receipts for short-term repairs and another documentation required by the corporate.
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