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Terrebonne school board authorizes one-year flood insurance renewal after discussion of FEMA rules and coverage levels
Summary
The Terrebonne Parish School Board approved a one-year flood insurance renewal effective July 1, 2025, after members and risk staff reviewed how insurance levels interact with FEMAreimbursement rules and the districts strategy to protect classrooms without depleting classroom budgets.
The Terrebonne Parish School Board on May 20 authorized renewing flood insurance through Lade Agency Inc. with Wright National Flood Insurance Co., effective July 1, 2025, through June 30, 2026, at an estimated annual premium of $217,631.
Board members and risk-management staff spent the bulk of the discussion reviewing why the district carries a multi-million-dollar property insurance "bucket," how that interacts with FEMA reimbursement rules and the Stafford Act, and whether buy-ups would be prudent given budget tradeoffs.
"You could buy $300 million of insurance, but the more you buy the less you have for teachers," the districtproperty specialist said while explaining how multiple insurance layers work and how premiums affect the district budget. Board members and the districts insurance adviser described FEMA's "obtain and maintain" (O&M) expectations and the insurance commissioner's certificate that can exempt districts if they meet premium-based thresholds.
Board members asked which buildings are covered and whether properties the district still owns but does not occupy carry district policies. Risk staff confirmed some former school buildings leased to others lack district flood policies and that coverage varies by site: some properties have full policies and others have limited or no flood coverage based on historical claims and perceived risk.
Board members said the goal of the districts insurance strategy is to ensure rapid repairs and return-to-classroom after a loss, rather than to maximize insurance regardless of cost. "If something drastic happens, you need that money to get yourself back in the classroom," one member said, noting that insurance proceeds helped the district replenish the general fund after Ida and allowed earlier school reopenings.
After the discussion, a motion to renew the flood policy carried with no objections.
The board did not adopt longer-term flood-buy strategies during the meeting; members asked staff to assemble documentation for the insurance commissioner and to continue evaluating risk, coverage limits and budget impacts.
