NEW ORLEANS (WVUE) – For many Louisiana homeowners, the real cost of living is no longer their mortgage or utilities. It is the rising cost of insuring their homes. Cheron Brylski, an Uptown New Orleans resident, says she had to rent out part of her house just to pay her bills.
Brylski, who once planned a quiet retirement, now earns extra income from tenants. Her annual bills for property tax, flood insurance and other fees total more than $25,000. Of that, $13,000 goes solely to property insurance.
Auto Insurance Reforms Win Spotlight
On Wednesday, May 28, Governor Jeff Landry signed new laws aimed at lowering Louisiana’s steep auto insurance rates. At a news conference, Landry said he expected rate cuts of at least 10%, although early results show only 6%–7% decreases so far.
“We should see a 10% drop in premiums,” the governor said, noting that the state’s auto insurance costs rank among the highest in the nation.
Property Insurance Remains a Crisis
While homeowners welcome relief on car insurance, many say the bigger problem is property coverage. Brylski and other residents argue that an auto premium might hurt the budget, but a property premium can break it.
“My car insurance is high, but the property insurance and taxes are an unbearable burden,” Brylski said.
Homeowners across New Orleans face similar challenges. They point out that, unlike auto policies, home insurance premiums have surged with little relief in sight.
Lawmakers Urged to Act on Property Premiums
Local advocates are pressing state leaders to turn some of the same reform energy to property insurance. They argue that capping rates, increasing market competition or offering state-backed options could help ease costs.
For now, many Louisiana homeowners remain caught between a desire to protect their homes and premiums that threaten their financial security.
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