Louisiana’s great food, happy people, and extraordinary festivals captivate tourists and locals alike. But locals know that with all of Louisiana’s greatness come natural disasters like floods, windstorms, and hurricanes. Many homeowners still face the damages Hurricane Katrina caused 15 years ago, and Louisiana homeowners insurance companies know the risks associated with insuring homes in the state. Louisiana homeowners can struggle to find the best home insurance coverage for all the Pelican State’s highs and lows because of this. From Bossier City to NOLA, we’ve got you covered.
How to Get Affordable Home Insurance in Louisiana
Buying a home may be one of the largest financial investments of your lifetime. With investment, inevitably, comes risk. However, there are steps homeowners can take to minimize risk and protect their investment.
The first step to protecting your property is purchasing homeowners insurance. Louisiana homeowners should consider home insurance because, although not required by law, home insurance provides financial liability for your property and belongings from natural disasters, vandalism, and theft. Different coverage is available based on your property type, location, and other factors.
Keep reading for a full guide on Louisiana home insurance.
MORE ON LOUISIANA HOME INSURANCE
For hyper-local information on Louisana home insurance, check out our custom city-guide for New Orleans homeowners insurance.
Homeowners insurance quotes in Louisiana by Company
Homeowners insurance rates aren’t always designed with savings in mind. That’s where Insurify comes in.
As of 2020, the average home insurance premium in Louisiana costs $2,226 annually, and the median home value is $162,500.
Some insurance companies offer homeowners insurance in Louisiana at low costs, but it’s important to check what these low-cost policies actually include. It may seem like the best idea to go with the cheapest homeowners insurance in Louisiana. But with the state’s unexpected and extreme changes in weather, you’ll want to make sure your home insurance policy includes flood, storm, and hurricane coverage.
The following quotes outline the average cost of homeowners insurance in Louisiana per year for various homeowners insurance companies. While these can help give you an idea of which insurance companies offer cheap homeowners insurance in Louisiana, premiums change based on various factors, including the city you live in and the age, type, and quality of your home.
Keep reading for more information on homeowners insurance rates in New Orleans, Baton Rouge, Lafayette, and other cities in Louisiana.
Homeowners Insurance Quotes in Louisiana by City
So how much is homeowners insurance in Louisiana? The short answer is, it depends. Like property costs, home insurance policies vary in price from city to city. Pricing is determined on ZIP code–specific variables, such as the volume of claims filed nearby, crime rates, property costs, and risk variables, such as natural disaster frequency. Even your specific neighborhood may determine if you pay more or less on your annual premiums. Plus, unique factors of your financial history, like credit score, may have a negative or positive effect on your home insurance rates.
Insuring a home in Louisiana can get pricey, which is why it is so important to compare homeowners insurance quotes. Louisiana homeowners insurance rates are typically high compared to the national average, but your insurance cost will depend on which town you live in. Here are the most and least expensive Louisiana ZIP codes in which to insure a home.
|Most Expensive Real Estate in Louisiana||Cheapest Real Estate in Louisiana|
New Orleans is one of the most expensive cities to purchase homeowners insurance in Louisiana. Monthly premiums in New Orleans average over $3,000. Baton Rouge offers slightly less expensive homeowners insurance rates, but premiums can still cost up to $3,000 per month. If you’re looking to insure a home in New Orleans or Baton Rouge, investing in a homeowners policy with a higher monthly premium is likely to pay off, as long as it offers low deductibles and a long list of covered losses.
Insuring a home in cities like Shreveport, Metairie, and Lafayette is a bit cheaper than home insurance in New Orleans and Baton Rouge. But premiums can still cost nearly $2,000 per month.
Louisiana citizens’ homeowners insurance doesn’t have to cost an arm and a leg. The easiest way to get the cheapest homeowners insurance in Louisiana with a home insurance company that cares about customer satisfaction is to compare home insurance rates using Insurify. You can see side-by-side prices for large corporations like Nationwide and local companies like the (Insert popular louisiana company here) to find the best homeowners insurance policy for you.
Cheapest Home Insurance in Louisiana
What does home insurance cover in Louisiana?
There are several types of coverage when it comes to home insurance. Specific terms of insurance policies may vary by state, but in general, the standard home policy types are as follows:
Mobile Home Form
Homeowners Insurance for Mobile Homes in Louisiana
Purchasing mobile home insurance in Louisiana can be a daunting task, especially since mobile homes are some of the structures most vulnerable to natural disasters. Some insurance providers offer specific mobile and manufactured home insurance so you can rest assured that your home is covered for any unique mobile home perils that may arise.
If you are looking to purchase a home insurance policy for a home that is not located in a mobile home park, it’s important to know that your home insurance policy does not insure your land, just your home and belongings.
Hurricane Coverage and Storm Deductibles in Louisiana
Most homeowners insurance policies cover damages from natural disasters like windstorms. But for Louisiana homeowners this may not include damage caused by hurricanes or other storms. Some policies offer hurricane and storm coverage at high costs and high deductibles.
The average home insurance policy’s storm deductible ranges from two to five percent of the home’s value. This means you could be responsible for repairing thousands of dollars worth of damage on your home or property before your insurance policy offers any coverage.
If you live in a storm zone, it is critical to make sure your home is covered from natural disasters. The last thing you want to worry about is the cost of repairing your home after a major storm hits.
Louisiana Homeowners Insurance FAQs
Why am I being force-placed for flood insurance?
Answer- Some insurers will issue a new policy—a force-placed policy—for homeowners who cancel their insurance or whose policy has lapsed. You may be force-placed for flood insurance if your current policy has lapsed or if it doesn’t provide the necessary amount of coverage for your home’s location.
Are there Louisiana homeowners insurance companies whose policies do not include a named storm deductible?
Yes, some insurance companies offer coverage other than umbrella-term storm deductibles. Some carriers have specific deductibles for various storms, such as hurricane deductibles, hail deductibles, and windstorm deductibles. If your homeowners insurance policy uses these specified deductibles, it is important to know what coverage is and isn’t included under your policy.
Does homeowners insurance cover flooding in Louisiana?
Most Louisiana homeowners insurance policies do not include flood insurance. The National Flood Insurance Program (NFIP) can provide Louisiana homeowners with flood insurance policies. Ask your insurance agent if their company participates in the NFIP, and how much a flood insurance policy will cost for your home.
Buying a home is stressful enough—don’t let insuring it get in the way of enjoying your new property.
Special Home Insurance Situations in Louisiana
Unique elements of your home may affect homeowners insurance prices. Check out these quotes for some special situations that may impact your home insurance in Louisiana.
Cheapest Home Insurance for Houses With a Swimming Pool in Louisiana
|Insurance Company||Average Annual Premium|
Cheapest Home Insurance for Houses Less Than 20 Years Old in Louisiana
|Insurance Company||Average Annual Premium|
|Southern Farm Bureau||$2,532|
Conclusion: How to find the cheapest home insurance in Louisiana
There’s a lot to consider when searching for home insurance, but it doesn’t have to be hard to find the best homeowners insurance in Louisiana at a fair price. With a little research and the right tools, you’ll be on your way to big savings.
Use Insurify to find the best home insurance companies for your property in Louisiana.
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