Homeowners insurance is not required by law. However, if you have a mortgage or plan to take out a home equity loan, your lender will most likely require proof of insurance. A comprehensive home insurance policy can prevent Louisiana property owners from facing large financial losses due to weather hazards such as hurricanes, tornadoes, and other severe storms. It can also provide protection against property crimes and personal liability lawsuits.
On average, Louisiana residents pay $1,945 a year for their home insurance coverage. This is significantly higher than the national average of $1,173. Rates are generally higher for residents who live near the Gulf Coast, since the risk of tropical storm and hurricane damage is greater than it is for those who live more inland. Since insurance costs in Louisiana are high, it is important to work with an independent insurance agent. These agents will compare quotes from a few different insurers before making a selection, getting your the best coverage at the right price.
I got homeowners insurance through TrustedChoice, and I’ve had it for a long time. I filed a claim over the phone before for storm damage. Customer service was knowledgeable, and they went over my options and answered my questions about how to get my things replaced.Bruce of Harvey, LA Consumer Affairs
Your home insurance is designed to cover you against many of the risks you face as a property owner in Louisiana. Some lower-priced policies may exclude important coverage such as wind and hurricane damage, unless you also purchase a special endorsement, so it is important that you review each policy carefully before making a selection. A typical homeowners insurance policy in Louisiana can provide you with the following:
Be aware that although hurricanes are often accompanied by floods, home insurance policies do not cover damage caused by rising waters. Half of the damage caused by Hurricane Katrina was due to flooding, but for those who lacked flood insurance, this costly damage was not covered. Your local independent agent can help you get an affordable flood insurance policy through the NFIP. Talk to your insurance agent to learn more.
There are currently 421 independent insurance agents in Louisiana who are ready to help. Independent agents work with a variety of insurance companies so they can offer you a selection of customized home insurance quotes that you can review and compare together. Let a local independent agent help you find the best home insurance policy to meet your coverage and budgetary needs.