In the state of Louisiana, only one in four families has a flood insurance policy, but Louisiana has been paid the most money from the National Flood Insurance Program. Out of all the states that buy flood insurance, the state of Louisiana ends up benefitting the most, and it's no wonder after hurricane seasons like the one in 2020.

Louisiana Insurance Commissioner Jim Donelon tells "Acadiana's Morning News" that Louisiana has received 19.8 billion dollars over time from the program. Donelon says without insurance you are playing a dangerous game. Donelon says most homeowners don't think about it, but if your home is flooded, you're going to lose the equity you have built up over time. You'll end up with an SBA loan, paying on your home for decades to come.

Another gamble you're taking by not getting flood insurance right now is the thirty-day waiting period. You are not covered by flood insurance until thirty days after you have paid your first premium on the insurance policy. Why? Because they don't want people rushing to get insurance when there is a storm in the Gulf of Mexico.

Other changes that are coming next year include that premiums will rise, but if you purchase flood insurance now, you will be 'grandfathered in" in terms of the rate you will pay on flood insurance.

Without flood insurance, you will likely wait longer to get your home rebuilt. and the cost of lumber is 200-300 percent higher than it was last year. Can you avoid rebuilding your home? The average increase in lumber costs if you have to rebuild your home is an additional $36,000 more than at this time last year.

And as we all know too well in South Louisiana, an afternoon thunderstorm that passed through can dump inches of rain to accumulate and flood homes. Donelon says anyone with questions about flood insurance issues, can contact their department at 800-259-5300. You can also visit http://www.ldi.la.gov.

If you want to buy flood insurance, you can contact your local insurance agent.