Owners insured by Louisiana Residents will be capable to apply for as much as $10,000 to restore or exchange their roofs in October when the Louisiana Fortify Properties Program (LFHP) opens its first spherical of grants.
The Louisiana Division of Insurance coverage (LDI) introduced that LFHP will launch at midday on October 2 with 500 grants out there on a first-come, first-served foundation.
The LFHP presently has sufficient funding to award roughly 3,000 grants, LDI stated, with the primary half of these grants restricted to Residents policyholders. The remaining grants shall be out there to all eligible owners throughout the state.
The grant will go in direction of the price of reinforcing a roof utilizing strategies that meet the FORTIFIED Roof Customary of the Insurance coverage Institute for Enterprise & Dwelling Security.
“One of the best ways we will put together for hurricanes and different extreme climate is to make use of stronger supplies and development strategies when constructing and repairing our houses,” stated Louisiana Commissioner Jim Donelon. “Grant recipients may reap the benefits of our new legislation requiring insurers to offer a premium low cost to policyholders with FORTIFIED roofs.”
Owners should pay all prices past the quantity of the grant. To be eligible for a grant, owners should meet sure necessities:
Owners are solely eligible for his or her main residence and should confirm they’ve a homestead exemption on the property through the software course of.
Owners should present proof of an lively residential insurance coverage coverage with wind protection. In the event that they dwell in a Particular Flood Hazard Space as designated by FEMA, they have to additionally present proof of a flood insurance coverage coverage. Contact your agent if you’re uncertain whether or not you could have these coverages.
New development houses, condominiums and cellular houses don’t qualify.
Properties on a basis constructed of unrestrained stacked masonry or stone (dry-stack basis) are usually not eligible with out an authorised retrofit of the muse.
Properties have to be in good restore as decided by a FORTIFIED Evaluator. Owners are chargeable for paying the analysis price, which is usually between $300 and $500.
Grant funds are paid on to contractors. Owners are financially chargeable for all prices past the total grant quantity. Grant funding is proscribed to development prices.
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