Louisiana Legislature Enacts Requirement for Separate Deductible Form

Louisiana Legislature Enacts Requirement for Separate Deductible Form 

On June 10, 2022, the Governor of Louisiana signed House Bill 317 (Act No. 331), establishing Subsection (D) in LA ST s 22:1337 related to homeowners' insurance deductibles applied to named-storms, hurricanes, and wind and hail deductibles. It becomes effective on January 1, 2023.

Among other things, Subsection (D) states:

  • The commissioner shall prescribe a separate form regarding named storm, hurricane, and wind and hail deductibles proposed in a policy of homeowners' insurance. The form shall list the specific amount for each deductible expressed as a percentage of the insured value of the property, or as a specific dollar amount, or as both. For new policies with an effective date after January 1, 2023, an insurer shall provide the form and request that it be signed by the named insured or his legal representative. The completion of a new form shall not be required if a renewal, reinstatement, substitute, or amended policy is issued to the same named insured by the same insurer or any of its affiliates.

  • An insurer shall provide a new form and request that it be signed by the named insured or his legal representative, if the insurer changes the percentage or specific dollar amount of any named storm, hurricane, or wind and hail deductible listed in the policy. If the policy uses a percentage deductible, a new form shall not be required if the dollar amount of the deductible changes, because of an increase in policy limits; however, a new form shall be required if the percentage changes.

  • A new form provided to an insured shall be for the insured's informational purposes only, and it shall not affect the terms and conditions of the policy.


Link to LA House Bill 317 (Act No. 331)