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. 

Insurify makes it easy. You can compare home insurance policy costs and coverage in minutes to find the cheapest and best homeowners insurance for you. 

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

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.

Average Home Cost in Louisiana Average Annual Insurance Premium in Louisiana
$162,500 $2,226

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
Mandeville $271,618 Covington $172,586
Oakdale $268,077 Patterson $132,485
New Orleans $237,225 Abbeville $131,934

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

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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:

HO-1

Basic

  • The simplest and least comprehensive type of homeowners insurance
  • Provides coverage for a handful of potential problems including
    • natural disasters (storms, fires, wind, lightning, volcanic eruption), 
    • explosions, 
    • theft, 
    • damage from vehicles, 
    • or civil commotion. 
HO-2

Broad Form

  • Broad form homeowners insurance policies include all basic form coverage, plus protection from: 
    • falling objects, 
    • damage from the weight of ice, snow, or sleet, 
    • freezing of household systems including HVAC and pipes, 
    • sudden and accidental damage to pipes and other household systems from artificially generated electrical current, 
    • accidental discharge or overflow of water or steam,
    • sudden and accidental damage. 
  • HO-2 policies typically cover both dwelling protection and personal property.
  • In some cases, broad form coverage may also include liability coverage. However, it still only covers the specific damages listed in the policy.
HO-3

Special Form

  • The most common form of homeowners insurance is known as a “special form” policy.
  • While HO-1 and HO-2 policies are “named peril” policies (meaning they only cover dangers that are specifically listed in the policy), HO-3 policies are “open peril” policies meaning they’ll cover all dangers except those specifically excluded in the policy documents.
HO-4

Tenant’s Form

  • HO-4 policies, also known as renters insurance, are for people who lease rather than own their homes. 
  • Tenant’s form policies typically cover all the same dangers as HO-2 policies. 
  • These policies include personal property coverage and liability coverage but don’t cover the physical structure of the house. 
  • Some HO-4 policies may also include loss of use coverage for the tenants.
HO-5

Comprehensive

  • Comprehensive form policies are usually the broadest and provide the highest level of coverage; not surprisingly, they also tend to be the most expensive type of homeowners insurance policies.
  • The biggest difference between HO-3 and HO-5 policies is that most HO-3 policies are “actual cash value” policies, whereas typically HO-5 policies are “replacement cost value” policies.
  • An actual cash value policy will only reimburse you for the actual value of a damaged or destroyed item, while a replacement cost value policy will reimburse you for however much it would cost to completely replace or repair the damaged or destroyed item (up to the coverage limits on the policy). 
  • HO-5 policies also provide personal property coverage against a wider range of dangers than the typical HO-3 policy. Many HO-5 policies also have extra coverage for high-value personal property, such as jewelry and artwork.
HO-6

Condo Form

  • Not surprisingly, condo form insurance is for condominium owners. HO-6 policies generally protect against the same types of dangers as HO-3 policies. 
  • They provide dwelling protection coverage with a twist: HO-6 policies cover the walls, floors, and ceiling of the condo unit but not the rest of the building. 
  • These policies also include personal property and liability coverage and may include loss of use coverage.
HO-7

Mobile Home Form

  • If you own a mobile home or manufactured home, you likely have an HO-7 policy. 
  • Mobile home form policies are typically identical to HO-3 policies, except they’re designed specifically for mobile and manufactured homes.
  • Like HO-3 policies, they provide dwelling protection coverage, other structures coverage, personal property coverage, liability coverage, and possibly loss of use coverage as well. 
  • HO-7 policies generally only protect the home when it’s stationary; if you plan to move your mobile or manufactured home, you’ll need to get a special policy to cover it while it’s in transit.
HO-8

Older Home

  • Older homes have generally been built to less stringent code standards than recently built homes, and so insurers have designed a specialized type of homeowners insurance policy for them. 
  • HO-8 policies often only cover the basic perils listed in HO-1 policies and generally apply to homes that are registered landmarks or otherwise deemed historic homes. 
  • Owners of registered landmarks are typically forbidden from making the updates to HVAC, electrical, and other parts of the home to enable them to qualify for a standard HO-3 policy, so an HO-8 policy is often the only option for them.

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
Farmers $5,376
Federated $2,037
Country $3,250
Encompass $2,711

Cheapest Home Insurance for Houses Less Than 20 Years Old in Louisiana

Insurance Company Average Annual Premium
Bankers $689
Centauri Specialty $649
Lighthouse $2,711
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 compare home insurance premiums for your property in Louisiana

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Browse, compare, and secure home insurance with Insurify today! 

Yep—it’s that easy.  

Updated August 5, 2020

Jackie Cohen received her B.A. in Global Media and Public Relations from the University of Massachusetts, Amherst. Currently based in Boston, MA, she works as a content writer for Insurify. An avid globe-trotter and foodie, Jackie spends her spare time adventuring far and near.