The people of Louisiana are reminded once again in a New Orleans Advocate article dated 4/3/22 by staff writer Mike Smith that flood insurance rates are about to increase again and at least 18% per year according to the National Flood Insurance Program. And if you think that sounds familiar, it's because that is old news and nothing new except the size of the rate increase.
Flooding has been with Louisiana, especially south Louisiana for too many years to count. It takes place during storms and even heavy rains. We have known that since the first rain drop fell and the authorities warn the people before it takes place. But our leaders allow us to continue to build slab homes on the ground which are easy targets for flooding. So flood claims have multiplied over the past years and many claims are on the same property more than once.
If our authorities would have mandated that all new construction after hurricane Betsy had to be raised, Louisiana would not have the flooding problem we have today or the insurance problem with high increases. It would have removed the control out of the hands of the insurance companies resulting in less claims, less rebuilding and repair cost and all the other good things for not flooding. Any additional cost to raise off the ground would be worth the effort financially for obvious reasons.
Our leaders since Betsy had their chance to respond and failed to act also. The flooding in Metro New Orleans has been severe as everyone knows. The same applies to South Louisiana which account for the bulk of the 10% of policy holders in the National Flood Insurance Program according to the Advocate article. Building off the ground is the most prudent thing to do and the most financial rewarding. Places in Louisiana close to the Gulf of Mexico do have mandates where property has to be raised so it is nothing new.
Now, after too many years of flooding we still have those in authority who can make a difference but have failed to act and come up with a solution so simple as raised housing even though it works. So insurance cost will continue to rise to unacceptable levels, claims will continue to rise, repair cost and loss of use will continue unabated and the media and attorneys will continue to accuse the insurance industry of not properly compensating the owners for their loss. The noise that we are used to hearing will go on and on and the status quo will continue.
Almost 6000 years ago the Sumerians said they were taught that "understanding the mistakes of the past was the key to a better future." Well, Louisiana has had many years in the past of flooding and has learned nothing from that failed past. We are now in the future and there are still no plans to deal with it. It's not to late to learn, but we must move quickly.
This commentary written by Joe Lorio
Note: If raised homes were built over the past 50 years instead of slab homes, how much money would have been saved on insurance cost and etc., etc., and etc.??? It's a question worth considering.
