Southern Fidelity home owners insurance policies canceled

Roughly 42,000 homeowners in Louisiana lost their coverage Friday. The good news is those policyholders have two more months to find a policy with Citizens without experiencing a gap in their coverage, according to the Louisiana Department of Insurance. Southern Fidelity was the seventh insurance company to be declared insolvent in Louisiana. Back in June, the courts ordered liquidation and policyholders were given two weeks before their policies were canceled. After two years of hurricanes and billions of damage, many insurance companies have left the state, leaving policyholders in a lurch. Citizens is giving policyholders 60 more days to place a policy with Citizens while maintaining coverage. Those extended deadlines are August 28 for Lighthouse and Maison, and September 13 for Southern Fidelity. Policyholders of those three companies who bind a policy with Citizens before those deadlines will be covered between their date of cancellation and the date they bind the Citizens policy. Louisiana Citizens is the insurer of last resort. Policyholders of the failed insurers will not be automatically transferred to a Citizens policy. Policyholders must contact their agent to apply for a policy with Citizens.

Roughly 42,000 homeowners in Louisiana lost their coverage Friday.

The good news is those policyholders have two more months to find a policy with Citizens without experiencing a gap in their coverage, according to the Louisiana Department of Insurance.

Southern Fidelity was the seventh insurance company to be declared insolvent in Louisiana.

Back in June, the courts ordered liquidation and policyholders were given two weeks before their policies were canceled.

After two years of hurricanes and billions of damage, many insurance companies have left the state, leaving policyholders in a lurch.

Citizens is giving policyholders 60 more days to place a policy with Citizens while maintaining coverage.

Those extended deadlines are August 28 for Lighthouse and Maison, and September 13 for Southern Fidelity. Policyholders of those three companies who bind a policy with Citizens before those deadlines will be covered between their date of cancellation and the date they bind the Citizens policy.

Louisiana Citizens is the insurer of last resort.

Policyholders of the failed insurers will not be automatically transferred to a Citizens policy. Policyholders must contact their agent to apply for a policy with Citizens.

Related Posts

Previous post Trump ex-aide Bannon acted as if ‘above the law’: prosecutor
Next post Alex Murdaugh charged with murder in deaths of his wife and son