Louisiana Homeowners Insurance
Louisiana homeowners insurance rates average at $96 per month. You can find cheaper rates by comparison shopping online. Enter your ZIP code below to start comparing quotes from Louisiana home insurance companies near you for free. Depending on the level of coverage you need, you may have to pay a higher premium for better coverage.
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UPDATED: Nov 11, 2020
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Louisiana homeowners insurance rates average at $1,155/yr ($96/mo). That amount includes coverage for the dwelling, other structures, your personal possessions, and the possibility that you will lose the use of all or part of the home because of a named peril.
As the home owner, you need to understand these sections and have a working knowledge of the perils Louisiana homes face on a regular basis:
Dwelling coverage protects the home and any structures which are permanently affixed to it. A large portion of your home insurance policy pertains to the dwelling coverage, including the frame, roof, electrical and plumbing. If the home has a garage that is built into the main dwelling, the garage is part of the dwelling. If it is not permanently attached, it is an “other structure.”
- Other Structures
Other structures are any buildings or constructions that are not attached to the primary dwelling. This might include a boat house, a pump house, a fence or a utility shed. Even though the other structures portion of your policy is secondary to the dwelling portion, you may have several different other structures, but there will only be a single dwelling.
- Personal Property
Personal property relates to the items you own, in the dwelling or elsewhere on the insured property. Just about everything you own will be part of the personal property section of your coverage, including your wardrobe, appliances and furniture.
- Loss of Use
If you cannot use all or part of the home due to a named peril, such as a fire, then you can save the receipts for all expenses related to that loss of use and get reimbursed by your insurance company. This might include paying for a room to stay in, eating at restaurants or even such incidental things as going to the local laundry mat to wash your clothing.
Average Louisiana Homeowner Insurance Rates vs. US
Cheaper Louisiana Home Insurance
Each year, 10.02 out of every 1000 people in Louisiana are the victims of burglaries alone, not including vandalism and other common crimes. You may not be able to prevent all of these crimes from happening, but you can reduce the risks by taking a proactive stance on home security and paying close attention to the risks associated with you and your home.
- Home Security
Among the things you can do to make your home more secure, there are also strategies that will save you money on home insurance as well. A security system is one of them, especially when it is monitored 24 hours a day by an outside company. Another one is to install special locks called deadbolts on the doors that lead into the home from the garage or outside. And putting up a fence is worthy of a discount too. While these tips all cost money to do, the cost is negligible when compared to the frustration of having your home burglarized or the cost of paying extra for home insurance for an undetermined number of years.
- Reduce Insurance Risks
Just as the fence around your property makes the home more secure, putting one around your pool will reduce the liability risks. You can also reduce the risks faced by your home if you are a non-smoker or quit smoking. Cigarettes are responsible for a large number of house fires each year and insurance companies will offer discounts to those who give up the habit, even if home insurance is not your primary reason for doing so.
- Credit Score and Insurance Risk
Credit scores are how insurance companies determine the financial risk of the policyholder. People with a low credit score will have to pay more for insurance because they have a history of missed payments, late payments and generally not putting their financial future first.
Home Characteristics Affecting Louisiana Insurance Rates
Not only do the perils faced by your home affect your premiums, the age and value of it play a part as well. In Louisiana, the average home price is $135,400, and the average age of the homes is somewhere around 33 years. However, if you perform regular maintenance on your home you reduce the costs of insurance by making the home less risky to insure.
Local Natural Disasters Louisiana Homeowners Should Consider Protecting Against
Louisiana is subject to experience tropical storms, hurricanes, fires, floods and severe weather such as hail and lightning. As the homeowner, you would be well advised to make sure that you have plenty of insurance for most of the named perils, or you could find out that your claim is settled but the money you receive is not enough to pay for the damage sustained.
Ranked at 40 out of 51, Louisiana is near the bottom of the earthquake danger list. You should not need to purchase any additional coverage to account for the possibility of an earthquake or other movement of the earth.
Louisiana residents filed 1,963 claims in 2009, among the top three states with the most claims. Because the risk of flooding is so high, traditional insurance providers may not offer flood coverage for your home, which means you can either purchase the coverage from a high risk insurance company or contact your state Department of insurance to find out where and how to contact the FAIR plan in your state. FAIR is a high risk insurance pool that all insurance companies who sell home policies in the state must participate in. So instead of purchasing a high risk policy from one company, you are effectively buying the policy from all of them.
Hail is a frequent peril in Louisiana and the damage associated with it is covered under the wind storm portion of your standard insurance policy.
Hurricanes are frequent in Louisiana. In some cases, hurricane damage may be excluded from coverage, even though most hurricane damage is related to the named and covered perils. If this happens, you can still purchase coverage through the same FAIR plan where your flood insurance was purchased.
At 83 tornadoes a year, Louisiana has just enough twisters to cause homeowners to be concerned. However, unless tornadoes are excluded from your policy specifically, they are considered wind storms and the damage they cause is covered by a standard homeowner’s policy, so you probably do not need to seek additional insurance for this peril.
Wildfires can happen in any state and 74,749 wildfires affect our country each year. The good news, considering how frequent such fires are, is that the standard home insurance policy includes coverage for fire damage, including damage from wildfires. There is a slight chance that wildfires are excluded from your policy, but it is not a likely event.
Louisiana Homeowners Insurance Optional Coverages
Personal injury coverage is part of a standard policy, but the default coverage may not be sufficient for major injuries or to protect you from lawsuits. To get the right amount of coverage, you can either increase your limits or purchase an umbrella liability policy that can be used as liability coverage for many different policies. Another area where coverage often falls short is with personal property coverage. If you have more than a few thousand dollars worth of belongings, and most people do, then it is a good idea to raise your limits to a value that covers everything.
Important Contact Information
Louisiana Department of Insurance
Post Office Box 94214
Baton Rouge, LA 70804
Phone: (225) 342-5900
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