Moody’s Warns Rising Home Insurance Costs in Louisiana Could Drive Residents Away and Depress Property Values.

Moody’s Investors Service has warned that the rising cost of home insurance in Louisiana could drive residents out of the state, depress property values, and disrupt local services by shrinking municipal tax revenue. The report suggests that Louisiana will experience a “severe” loss of working-age residents due to long-term demographic trends and the state’s vulnerability to natural disasters. The rising costs of property insurance and flood insurance are partly due to climate change fueled by stronger storms, wildfires, and floods. Moody’s identified the state as the most vulnerable to these increases, with Louisiana facing the worst threat due to the increasing costs.