Homeowners insurance in Louisiana

The cost of homeowners insurance in Louisiana is $2,895 a year for the average amount of coverage. Louisiana residents can compare rates from multiple companies with Policygenius.

Kara McGinley

Kara McGinley

Published August 7, 2020

KEY TAKEAWAYS

  • The average cost of homeowners insurance in Louisiana is $2,895 for $100,000–500,000 in coverage

  • The most affordable insurance company in Louisiana is Safeco, according to Policygenius quote data

  • When deciding on policy coverage, Louisiana residents should consider the state’s frequent hurricanes and heavy rainfall

Homeowners insurance is essential financial protection for the 65% of Louisiana residents who own a home, especially given the Pelican State’s frequent hurricanes and thunderstorms.

The statewide average cost of homeowners insurance in Louisiana is $2,895, but policy premiums can differ greatly based on specific factors related to your home and the details of your policy. Your rates will be directly impacted by your home’s condition and style of build, its location, your credit and claims history, and your policy deductible amount. Rates also vary from company to company for the same level of coverage, which is why it’s so important to compare policies from different companies — that’s where we come in.

To help simplify your shopping experience, Policygenius reviewed the five best homeowners insurance companies in Louisiana offered through our website. We also calculated the cheapest and most expensive cities in Louisiana for home insurance based on hundreds of submitted quotes.

Compare Louisiana quotes here

IN THIS ARTICLE

The 5 best homeowners insurance companies in Louisiana

Cost is an important factor when deciding on a homeowners insurance policy, but it shouldn’t be the only factor. It’s smart to do a little research on the company that will be insuring your house and all of your assets. A great homeowners insurance company is financially stable, has dependable customer service, affordable coverage, flexible policy options, and high quality discounts. Using those benchmarks, we determined the following five companies were the best homeowners insurance companies in Louisiana. Read about our methodology here.

Best company for a cheap quote: Safeco

Safeco provides the cheapest Louisiana home insurance quote of any Policygenius partner carrier. The average quote with Safeco is $1,689 for $100,000–500,000 in coverage, which is over $1,200 cheaper than the statewide average of $2,895.

Not only is Safeco a good budget pick, it also offers extensive coverage options. Safeco has four comprehensive tiers of coverage, and all include the option to add extended replacement cost, a policy add-on that increases your home’s coverage limits an additional 25% or 50% if rebuild costs exceed your dwelling coverage amount, which is ideal for homeowners in Southern Louisiana.

Read our full review of Safeco here

Best company for policy discounts: Stillwater

In terms of discounts, Stillwater offers an array of savings opportunities for Louisiana homeowners. Stillwater offers a multi-policy discount if you bundle your home insurance policy with your auto insurance or another type of property insurance. Stillwater also offers discounts for fortifying your home with safety features like fire and burglar alarms. You may receive a discount if your roof was constructed within a certain number of years or built with a storm-resistant material. If you haven’t filed a claim in a few years, or if you recently purchased your home, that can also land you a discount with Stillwater.

Read our full review of Stillwater here

Best replacement cost policy: MetLife

Louisiana residents who live in lowlands and southern regions of the state should consider an insurance company that offers maximum coverage. MetLife, with its excellent replacement cost coverage options, may be your best bet against volatile coastal weather. MetLife offers superior home and personal property protection, as homeowners have the option of insuring their home with guaranteed replacement cost coverage (covers a full rebuild of the home regardless of the cost) and their personal belongings with replacement cost coverage.

MetLife also has multiple coverage packages that provide enhanced protection for your expensive valuables and electronics, as well as identity theft protection at no extra cost.

Read our full review of MetLife here

Best financial standing: Progressive

An insurance company’s financial stability is important — you want an insurer that is reliable and trustworthy. A.M. Best is the most reliable credit-rating tool policyholders can use to gauge the financial health of a particular company. A good score with A.M. Best means a company is more likely to fulfill their financial obligation to you when it comes time to file a claim. With a score of A+, Progressive has close to the highest rating a company can receive from A.M. Best.

Progressive also has high ratings with Standard & Poors, which measures long-term financial stability, as well as Moody’s, which measures what the expected losses would be if a company were to go into default.

Read our full review of Progressive here

Best company for high-value homes: AIG

When it comes to homeowners insurance, a high-value home doesn’t necessarily mean a penthouse or McMansion. The term is primarily used as an indicator of how much the home will cost to rebuild — including its exterior structure, flooring, cabinetry and built-in appliances.

If you live in a high-value home in Louisiana, AIG may be the right company for you. AIG offers a “Private Client Group” package, which has all the primary coverage you’ll find in a standard policy — dwelling, other structures, personal property, loss-of-use, liability, and medical payments coverage — but with higher limits of liability and more flexible loss-settlements than you’d find in a standard carrier policy.

Read our full review of AIG here

policygeniusSymbolCenter

Get the right advice, right here.

No sweaty sales pitches. Just unbiased advice from licensed experts.

Average cost of homeowners insurance in Louisiana by company

When comparing insurance companies, Louisiana residents may find that rates differ greatly from company to company for the same level of coverage. The more expensive policy may provide more coverage add-ons in a basic plan than their competitors, or some companies may simply charge more for coverage in certain areas than others.

After reviewing hundreds of quotes submitted with Policygenius, we found that Safeco is the cheapest insurance company in Louisiana with a $1,689 average annual premium for $100,000–500,000 in coverage. Encompass is the most expensive with a $7,769 average annual premium.

CompanyAverage Cost
Encompass$ 7,769
MetLife$ 2,987
Safeco$ 1,689
Stillwater$ 4,470

Average cost of home insurance in Louisiana by coverage amount

The average cost of homeowners insurance in Louisiana will also differ considerably based on the amount of insurance you have for your home. Below is the average homeowners insurance quote for five different levels of coverage.

Coverage AmountAverage Cost
$100,000-$200,000$ 1,943
$200,000-$300,000$ 2,840
$300,000-$400,000$ 3,878
$400,000-$500,000$ 5,751
Greater than $500,000$ 5,353

Average cost of home insurance in Louisiana by city

Insurance companies will also price policies differently based on where you live. We found the city of Marrero, located south of the Mississippi River, has the lowest rates in the state with a $1,420 average annual premium for $100,000-500,000 in coverage. The most expensive area is Alexandria, located on the south bank of the Red River, with a $7,972 average annual premium.

CityAverage Cost
Alexandria$ 7,972
Baker$ 2,435
Baton Rouge$ 2,089
Bossier City$ 2,229
Central$ 1,777
Destrehan$ 3,040
Hammond$ 3,980
Houma$ 2,544
Kenner$ 1,849
Lafayette$ 2,122
Lake Charles$ 2,630
Mandeville$ 4,012
Marrero$ 1,420
Metairie$ 4,174
Monroe$ 2,150
New Orleans$ 2,694
Shreveport$ 2,720
Slidell$ 4,910
West Monroe$ 1,611
Zachary$ 4,652

We selected the 20 largest cities in Louisiana by population where customers have submitted quotes with Policygenius. Quotes are based on a coverage amount between $100,000 and 500,000.

The cheapest cities for homeowners insurance in Louisiana

Cheapest cities homeowners insurance in Louisiana

The most expensive cities for homeowners insurance in Louisiana

Most expensive cities homeowners insurance Louisiana

Guide to homeowners insurance in Louisiana

Common causes of home insurance loss in Louisiana

Louisiana frequently experiences tropical cyclones, heavy rainfall, and intense thunderstorms due to its low lying topography and proximity to the Gulf of Mexico and Mississippi River. The southern lowlands of Louisiana, particularly in and around New Orleans, are prone to major hurricane strikes.

Given the state’s propensity for tropical storms, it’s extra important for Louisiana residents to insure their home with a comprehensive replacement cost policy to ensure their home and personal belongings are fully protected in the event of a disaster.

Does homeowners insurance cover flooding in Louisiana?

Homeowners insurance does not cover flood damage in Louisiana or any of the other 49 states. Louisiana residents can supplement that gap in coverage by purchasing a flood insurance policy. Flood insurance can typically be provided through the same insurance company that insures your home.

Louisiana homeowners should consider flood insurance as the state experiences heavy rainfall, hurricanes, and frequent flooding. Most flood policies are sold by private companies but administered by the federal government’s National Flood Insurance Program (NFIP). Flooding is so frequent in Louisiana that it receives more funding from the NFIP than any other state. An NFIP flood policy can cover up to $250,00 for the structure of your home and up to $100,000 for personal belongings.

Louisiana Department of Insurance

The Louisiana Insurance Department is a valuable resource for both Louisiana homeowners purchasing coverage for the first time or those who are already insured. The LID website has helpful information about what to prioritize when selecting your coverage, preparing for a hurricane, and buying flood insurance.

What if I can’t get homeowners insurance?

Homeowners insurance companies can cancel your insurance for a number of reasons — maybe the insurance company no longer offers coverage where you live, maybe they determined your home was too risky to insure after a recent inspection, or maybe you filed too many claims in a short period of time.

If you’re struggling to find coverage, you can get last-resort coverage via an Louisiana Fair Access to Insurance Requirements (FAIR) Plan. The Louisiana FAIR Plan is offered by the Louisiana Citizens Property Insurance Corporation, a not-for-profit insurance association that provides basic coverage for Louisiana residents who are unable to get home insurance on the open market. To qualify for a FAIR Plan, you need to demonstrate that you’ve had at least three unsuccessful attempts to buy insurance from other companies.

Not where you live? We've got you covered, check out our guide to homeowners insurance in your state

About the author

Insurance Editor

Kara McGinley

Insurance Editor

Kara McGinley is an Insurance Editor at Policygenius. She previously worked as a freelance writer and a copywriter for various startups. Her work can be found in Teen Vogue, The Culture Crush, Mask Magazine, and more.

Policygenius’ editorial content is not written by an insurance agent. It’s intended for informational purposes and should not be considered legal or financial advice. Consult a professional to learn what financial products are right for you.

Was this article helpful?

thumbsUp
thumbsDown