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Will New Orleans flooding make car insurance rates go up?

Source: nola.com - Aug 8, 2017

The water from Saturday's flooding in New Orleans overwhelmed streets and managed to seep into a fair share of homes, restaurants and businesses from Mid-City to the 7th Ward, Lakeview and Gentilly to Treme. But the most pervasive damage was to vehicles -- sedans abandoned on inundated underpasses, cars old and new stalled between floodwaters and higher ground, and SUVs that sat curbside half-dunked in a watery stew of muck and trash.

The damage left behind will likely result in hundreds, if not thousands, of insurance claims for damaged vehicles. That doesn't seem to bode well for local car insurance rates in the long-term.

Could the flooding in New Orleans send rates soaring?

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Category: General Business