Financial Assurance

Homeowners Insurance – Metairie LA

Did you know that protections for the structure of your home and the possessions inside are different? Make sure your policy protects not just the structure of your home, but also your personal property inside—including valuables and hard-to-replace items which may require additional coverage.

Did you know you’re responsible if someone gets injured on your property? Be sure that your homeowners policy provides the right amount of personal liability coverage, in case anyone is ever injured on your property and you are sued.

At Financial Assurance, we work with many insurance companies so that we can be sure to get the right policy for every one of our clients. We are proud to help residents of Southeast Louisiana find the necessary homeowners insurance including Metairie, LA; New Orleans, LA; Baton Rouge, LA; Hammond, LA; and St. Tammany Parish.

Post-Hurricane Katrina Homeowners Insurance

Damaged home as a result of Hurricane Katrina
A home near the 17th St. Canal damaged after Hurricane Katrina and subsequent flooding. Would your homeowners insurance cover this?

Hurricane Katrina left a lot of damage and destruction in her wake. And while much cleanup and restoration has been completed, there are lasting challenges to insuring homes in New Orleans and the Gulf Coast Region even today.

Insurance companies paid out around $11 billion to Louisiana residents in the two years following Hurricane Katrina, but for thousands of individuals, the payments were too little, too late or both. Even if you worked with a cooperative insurance company or didn’t face serious damage to your home, chances are you’re now facing dramatically increased insurance premiums that may even make it difficult to maintain your current residence.

Many insurance companies have even been refusing to write homeowners and landlords policies in Southeast Louisiana since the storms—making it very difficult for homeowners and real estate investors to protect their assets.

Don’t Get Caught! Why Replacement Cost Coverage is So Important

Does your homeowners policy include “replacement cost” coverage or “actual cash value”? This is a really important question, so you might want to go get your policy now and verify. If your policy only includes “actual cash value,” as most basic homeowners policies do, get in touch with us today so we can help you get coverage that will actually help  you in the event your home is severely damaged or destroyed.

Actual cash value will only reimburse you for the actual cash value of homes and personal property lost in a catastrophe. This means that you will only be covered for the purchase price of the home or item, less depreciation.

Your homeowners policy should cover you for the replacement cost value of your home and all of its contents. This means that you will be reimbursed for the cost to rebuild your home at today’s prices, as well as today’s value for all of your personal property.

Contact us today to discuss the importance of replacement cost coverage.

The Value of an Independent Homeowners Insurance Agent

Homeowners insurance policy holders in our area had a wide range of experiences with different insurance companies after Hurricane Katrina and the subsequent flooding took place.

  • Was your insurance company reluctant to pay your homeowners claim after Hurricane Katrina? Did you have to go up against a big name insurance company on your own, spending hours being shuttled through automated phone trees and waiting on hold?
  • Did you have to spend hours making sure the “i”s were dotted and “t”s crossed on your forms and paperwork to try to avoid costly delays?
  • Did your homeowners insurance rate rise dramatically following the storms?

If any of these scenarios sound familiar, you’re not alone.

Don’t waste your time working with a remote agent or insurance company that doesn’t understand the unique challenges of Louisiana property insurance in a “post-Katrina” world. Our local agents live here, work here and have access to property insurance that you might not think is available. We can make sure that you get the best policy at the best price, by considering all possible discounts, including multi-policy discounts.

After the storm, we’re by your side making sure you understand the coverages you can count on, facilitating claims and paperwork on your behalf, and running interference on any resistance or run-around that you may be experiencing.

Historic Homes Need Special Coverage

Where historic homes and equally historic storms collide, the right insurance is essential. We have experience with the unique needs of historic homeowners, and we also know the Louisiana insurance market better than most. Don’t trust your historic Louisiana home to anyone else.

“Some insurance agencies take the — once a year annual review approach — and then there are those that wish to sell you the product of the month. We are pleased that Mark and his team offer neither. We are delighted that we have found such trusted advisors in the insurance industry.”

Jimmy and Misty Strickland, owners
Strickland Enterprises, LLC - Hose Specialty and Supply

“For over a decade Financial Assurance, LLC has handled our business and personal insurance. Their capable staff is efficient and provide us dependable, quality service. It is a pleasure doing business with people so dedicated and conscientious.”

Norman T. Joseph, president
Ideal Appliance Parts, Inc.

“About 40 years ago we were searching for an insurance agent that could meet all of our insurance needs. We needed more than just business, home, auto, flood, property and boat insurance. We needed an advisor. We found what we were looking for, when an associate introduced us to the Fruchtnicht family.”

Gaynell Crespo, General Manager
Precise Printing Corp., Kenner, LA

“My company has been doing business with Financial Assurance for over 25 years. Mark and his staff have been exceptional in adapting to our needs as our company has grown over the years. They service our account throughout the year, not just at renewal time.”

George Messina
Messina’s Catering, Kenner, LA

“Mark and his team stay on top of our account and give us outstanding service, not only when there is a problem, but also when there are smooth seas. I would recommend Financial Assurance strongly to anyone. It’s not easy to be impressed with any company for over 30 years.”

Rodney Rice Jr., President
Fitness Expo, Metairie, LA

“In 1997, when I purchased the family business; my father gave me some advice: The three most important people in your business life are your lawyer, your banker, and your insurance agent. Mark Fruchtnicht and Financial Assurance have been by my side since day 1. Thanks for the advice, Dad!”

Timothy Fitzpatrick, owner
Christmas Depot/Floral Enterprises, Kenner, LA