Southern Fidelity homeowners insurance policies canceled

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About 42,000 homeowners in Louisiana lost coverage Friday. The good news is that policyholders still have two months to find a policy with citizens without experiencing any gaps in their coverage, according to the Louisiana Department of Insurance. Southern Fidelity was the seventh insurance company to be declared insolvent in Louisiana. In June, the courts ordered liquidation and policyholders were given two weeks before their policies were voided. After two years of hurricanes and billions in damage, many insurance companies have left the state, leaving policyholders in deep trouble. Citizens gives policyholders an additional 60 days to take out 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 these three companies who bind a policy with Citizens before these 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 defaulting insurers will not be automatically transferred to a Citizens policy. Insureds should contact their agent to take out a policy with Citizens.

About 42,000 homeowners in Louisiana lost coverage Friday.

The good news is that those insured have another two months to find a policy with citizens without experiencing any gaps in their coverage, according to the Louisiana Department of Insurance.

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

In June, the courts ordered liquidation and policyholders were given two weeks before their policies were voided.

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

Citizens gives policyholders an additional 60 days to take out 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 these three companies who bind a policy with Citizens before these 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 defaulting insurers will not be automatically transferred to a Citizens policy. Insureds should contact their agent to take out a policy with Citizens.

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