What to Know about Homeowners Insurance

In Louisiana

Facts about Home Insurance in Louisiana

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.

More Louisiana home insurance facts

  • Louisiana homeowners collect an average of $711 million in insurance claims per year.
  • More than 300,000 Louisiana homes were destroyed by Hurricane Katrina.
  • An average of 37 tornadoes touch down throughout the state of Louisiana every year.
  • The burglary rate in this state is nearly double the US national rate.

Average Cost of Homeowners Insurance in Louisiana

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.

Average Cost of Home Insurance

average cost of homeowners insurance in louisiana

Why Choose an Independent Insurance Agent?

  • You can have all of your insurance needs handled by one local agent.
  • Independent agents can shop around to find you great policies at competitive rates,
  • Agents who live and work in your community understand your coverage needs.

Find an independent agent in Louisiana

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.

five star review Bruce of Harvey, LA Consumer Affairs

What Does a Homeowners Insurance Policy Cover?

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:

  1. Coverage for the structure of your home: This covers damage to the structure of your home, such as the roof, siding, and exterior walls. It can also cover outlying structures like sheds and detached garages. You should have enough coverage to enable you to completely rebuild your home if it is destroyed by a covered event such as an accidental fire.
  2. Coverage for your personal property: The contents coverage in your policy is designed to cover your personal belongings and interior embellishments, such as flooring and light fixtures. If you own any particularly valuable property, such as art collections or an excessive amount of jewelry, you may need a special endorsement in order to be fully covered.
  3. Coverage against property crimes: The property crime rate in Louisiana is particularly high. If your home is damaged by vandals or your property is stolen in a burglary, you can get compensation for your losses. You will need a copy of the police report and a detailed list of your lost or damaged property when you file a claim.
  4. Coverage against liability lawsuits: Your home policy includes personal liability insurance. This can cover legal fees and damages if you are sued for causing injuries, property damage, or financial loss to others. This covers such things as dog bites, accidental injuries for which you are at fault, damage caused by your children, and accusations of libel or slander. 
  5. Coverage for temporary housing expenses: If a covered event like a tornado significantly damages your home and renders it uninhabitable, your home insurance can cover temporary living expenses such as lodging, meals, and even mileage reimbursement while repairs or alternative housing arrangements are made.

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.

Independent Insurance Agents in Louisiana

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.

Why go Independent

Why Go Independent When Looking for Homeowners Insurance?

  • Agents research for you
  • Insurance you can understand
  • Multiple quotes