Insurance claims from last year's hurricanes reach $10 billion in Louisiana

Louisiana home and business owners have filed $10 billion in claims for damage caused by hurricanes and tropical storms in 2020, state figures show.

Of the total, about $55.3 million in claims were filed by property owners in Terrebonne and Lafourche parishes.

The amount of money insurers expect to pay in claims for hurricanes Laura, Delta and Zeta continues to grow, Louisiana Insurance Commissioner Jim Donelon said.

“I encourage policyholders to still file supplemental claims if they find additional damage or increased costs after their original claim amount was paid,” Donelon said in a news release.

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Louisiana policyholders have filed 316,879 claims from the three storms. Of those, 205,554 claims, or 65%, were closed with payments made as of June 30.

So far, home and business owners have received a combined $7.8 billion in payments for damage caused by the three hurricanes. Insurers have reserved an additional $2.2 billion to pay more claims.

The amount does not include claims or payments from the National Flood Insurance Program. It also does not include uninsured losses and what people paid out of pocket to cover deductibles on their homeowners insurance policies.

As a result, Donelon said, the true cost of the three hurricanes is much higher.

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The 2020 storm season was the most active ever in Louisiana, with the three hurricanes plus tropical storms Cristobal and Marco striking the state. The season was also the second most expensive for Louisiana behind 2005. Laura has displaced Hurricane Rita in 2005 as the second most costly storm in Louisiana history, Donelon said.

Here's a quick rundown of claims for last year's three hurricanes in Louisiana, according to the state Insurance Department:

Hurricane Laura: $8.6 billion

Policyholders have filed 175,160 claims from Laura, which struck near Cameron in southwest Louisiana on Aug. 27 as a Category 4 hurricane. It packed sustained winds of 150 mph, the strongest to hit Louisiana in more than 150 years.

As of June 30, insurers had closed 86% of the claims. Total paid losses plus reserves on reported claims for Laura as of the end of June were $8.6 billion, accounting for the vast majority of damage from 2020's storm season. 

Insurance claims for Laura so far have totaled $751,234 in Terrebonne and $5.3 million in Lafourche.

Hurricane Delta: $870 million

Policyholders have filed 86,043 claims from Delta, which made landfall Oct. 9 as a Category 2 hurricane near Creole in southwest Louisiana. Insurers have closed 91% of all Delta claims, with $870 million paid or reserved to cover losses.

Claims for Delta so far have totaled $563,349 in Terrebonne and $351,448 in Lafourche.

Hurricane Zeta: $600 million

Policyholders have filed 55,676 claims from Zeta, which made landfall Oct. 28 near Cocodrie in Terrebonne Parish and swept through the New Orleans area as a Category 3 hurricane.

Insurers have closed 93% of the claims, 59% with payment. Total paid losses plus reserves on reported claims are $600 million.

In Terrebonne, home and business owners filed 1,181 claims for $8.7 million in combined losses. Lafourche property owners filed 2,517 claims for $39.6 million in combined losses.

Anyone having trouble with an insurance claim may file a complaint with the Louisiana Department of Insurance at ldi.la.gov/fileacomplaint or 1-800-259-5300.