After the damaged that hurricane Katrina brought to the residents of New Orleans, homeowners can no longer afford to insure their homes against further devastation. Home insurance premiums and policies have always been higher around the Gulf Coast.

Since Katrina, however, the prices have rocketed. In some cases the cost of a comprehensive home insurance policy has doubled within the last year alone. With the onslaught of hurricane Gustav, homeowners are struggling to afford any form of insurance and are often opting out of this service.

President George Bush visited New Orleans today to offer support to victims and view just how the hurricane has affected the city. It is thought that the USA will introduce state run insurance policies for those around the Gulf Coast area.

The real worry is that after Gustav did not prove to be as dangerous as expected, locals will stay in their homes and hope for the best the next time that a hurricane will tear through. Residents fear looting when their homes are abandoned and without insurance their goods cannot be replaced. Two more hurricanes are expected to run through the area any time now but authorities are warning everyone to evacuate when the time is right.