The Consumer Federation of America sent testimony in support of SB 222, which requires insurance companies to provide a 20 to 30% discount to participants in the Louisiana Fortify Homes Program. This bill will ensure that the risk reduction stemming from the program’s investments are passed along to consumers in the form of lower rates, rather than held by insurance companies charging premiums based on the risk of homes prior to the home hardening and loss mitigation improvements.

The Louisiana Fortify Homes Program provides grants of up to $10,000 to eligible homeowners to strengthen their roofs against hurricanes, storms, and other natural disasters and extreme weather. These mitigation efforts can greatly reduce risk and lower insurance costs--but consumers who spend this time and money need to see lower premiums, instead of the insurance companies keeping the profits for themselves.