Louisiana § RS 22:1346.3 - Homeowner requirements
Full text of Louisiana Louisiana Civil Code § RS 22:1346.3 — Homeowner requirements, with citation guidance and answers to common questions.
§ RS 22:1346.3. Homeowner requirements
A. A homeowner electing a stated value policy shall submit to his insurer a written payoff statement from the financial institution or any other entity holding a mortgage on the property. This statement shall accurately reflect the outstanding balance or the nature of the mortgage on the homeowner's property at the time the homeowner applies for or renews an insurance policy. In addition to the financial statement required in this Subsection, a homeowner shall also provide to his insurer a mortgage certificate from the clerk of court indicating the presence or absence of a mortgage on the property.
B. Insurers shall provide a coverage limit for residential property in an amount not less than the total assessed fair market value of the property as shown on the most recent assessment of the parish in which the property is located. However, the homeowner of a property unencumbered by a mortgage may request to insure the property for any stated amount of insurance.
C. Before issuing any policy that limits coverage on the residential property equal to the unpaid principal balance of all mortgage loans on the policy, the insurer shall obtain a statement signed by insureds which contains the following notice in boldfaced type no smaller than eighteen-point font:
"YOU ARE ELECTING TO PURCHASE COVERAGE AT A LIMIT THAT IS EQUAL TO ONLY THE UNPAID PRINCIPAL BALANCE OF THE MORTGAGE LOANS ON YOUR HOME. ACCORDINGLY, IN THE EVENT OF THE TOTAL LOSS OF YOUR HOME OR A LOSS FOR WHICH THE COST TO REPAIR YOUR HOME EXCEEDS THE UNPAID BALANCE ON YOUR MORTGAGE LOAN, YOU WILL INCUR SIGNIFICANT FINANCIAL LOSSES, INCLUDING THE POTENTIAL LOSS OF SOME OF YOUR HOME'S EQUITY."
D. Liability shall not be imposed on an assessor or their employees based upon the exercise or performance of or the failure to exercise or perform their duties pursuant to this Section.
Acts 2025, No. 480, §1, eff. June 30, 2025.
Source: official Louisiana text · Last verified 2026-08-27
Frequently Asked Questions About Louisiana § RS 22:1346.3
What does Louisiana Civil Code § RS 22:1346.3 cover?
Section RS 22:1346.3 ("Homeowner requirements") is part of the Louisiana Civil Code, the codified statutory law of Louisiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Louisiana § RS 22:1346.3?
A common citation format is "Louisiana Civil Code § RS 22:1346.3" (Louisiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Louisiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Louisiana official source linked on this page or consult a licensed Louisiana attorney.
How does Louisiana § RS 22:1346.3 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Louisiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Louisiana.