With hurricanes and tropical winds blowing through the city of New Orleans on a yearly basis, a quality home insurance policy is vitally important — and may be tough to find.
The average cost of homeowners insurance in New Orleans is $2,805 per year, but you may be able to find cheaper options by shopping around and comparing quotes before you buy.
Compare the best cheap homeowners insurance companies in New Orleans
Based on our analysis of companies offering home insurance in the Big Easy, the best homeowners insurance companies in New Orleans are State Farm, Allstate, and Farm Bureau.
To find the best cheap homeowners insurance in New Orleans, we rated over a dozen of the largest insurance companies in Louisiana across several categories, such as average policy cost, financial strength ratings with AM Best, customer and claims satisfaction scores with J.D. Power, available policy options, and more.
Company | Average monthly cost | Policygenius rating | |
|---|---|---|---|
$136 | 4.8 out of 5 | Compare quotes | |
$176 | 4.4 out of 5 | Compare quotes | |
$66 | 3.9 out of 5 | Compare quotes |
Methodology & why you can trust our rates
Policygenius has analyzed home insurance rates provided by Quadrant Information Services in March 2022 for ZIP codes in all 50 states plus Washington, D.C., for a 40-year-old female homeowner with no claim history, good credit, a $1,000 deductible, and the following coverage limits:
Dwelling: $300,000
Other structures: $30,000
Personal property: $150,000
Loss of use: $60,000
Liability: $300,000
Medical: $1,000
All rates based on the above coverage limits except where otherwise noted.
Some carriers may be represented by affiliates or subsidiaries. Rates provided are a sample of costs. Your actual quotes may differ.
Best overall home insurance in New Orleans: State Farm
2023 Policygenius award winner
State Farm
4.8
Bundle home & auto
Offers extended replacement cost
Offers flood insurance
Offers earthquake insurance
Wind/hail deductible
Offers wildfire insurance
Why we chose it
State Farm is the best home insurance company in New Orleans thanks to its very affordable rates, large selection of policy options, high customer service marks, and industry-best financial stability ratings.
Pros and cons
Pros
Top-tier coverage add-ons, including extended replacement cost coverage
High customer satisfaction and financial strength ratings
Offers large discounts when you bundle your home and auto insurance
Cons
No discounts for first-time homebuyers
More details
Why we chose State Farm
Whether you're looking for affordability or dependability, State Farm is the best homeowners insurance company in New Orleans.
State Farm is one of a few companies in New Orleans that offers affordable home insurance. And while the State Farm doesn't have as many discounts as other insurers, you may get a large discount if you bundle home and auto insurance with State Farm.
Besides cheap rates, State Farm also offers homeowners replacement cost coverage for their homes, replacement cost coverage for their personal property, water backup protection, and more.
State Farm's customer service is highly rated, too. The company has received high ratings from policyholders, according to J.D. Power’s 2022 customer satisfaction, claims, and digital experience surveys. It has also received the highest rating possible from A.M. Best for financial strength and stability.
How do State Farm home insurance rates compare to the New Orleans average?
The average cost of home insurance from State Farm in New Orleans is $1,626 per year, which 42% cheaper than the citywide average.
How to get a quote
Online through State Farm or by contacting your local State Farm agent.
Best home insurance for coverage options: Allstate
2023 Policygenius award winner
Allstate
4.5
Bundle home & auto
Smart home discounts
Why we chose it
If you're looking for a dependable company with highly rated customer service, Allstate might be the best home insurance company for you. The company also has a long list of discounts and a few useful add-ons.
Pros and cons
Pros
Receives few complaints compared to other insurers
Extensive list of discounts and policy features to lower your bill and out-of-pocket costs
Offers HostAdvantage — an excellent short-term rental coverage add-on that can be seamlessly added to any policy.
Cons
Beginning to pull back coverage in high-risk areas
Customer experience scores with J.D. Power are below the segment average
More details
Why we chose Allstate
Allstate is the best home insurance company in New Orleans for highly rated customer service and strong financial strength. According to the National Association of Insurance Commissioners, Allstate receives about half as many complaints as expected.
You can also add a few useful coverage offerings to a basic Allstate home insurance policy. These include water backup protection, scheduled personal property coverage, short-term rental insurance, the Claim RateGuard perk that keeps your rates the same after a claim, and more.
How do Allstate home insurance rates compare to the New Orleans average?
The average annual cost of an Allstate home insurance policy in New Orleans is $2,107 per year, which is about 25% cheaper than the citywide average.
How to get a quote
Online through Policygenius or Allstate, or by contacting a local Allstate agent.
Best home insurance for cheap coverage: Farm Bureau
2023 Policygenius award winner
Farm Bureau
3.9
Bundle home & auto
Why we chose it
Louisiana Farm Bureau has the cheapest home insurance rates in New Orleans. The company also offers exceptional customer service and the option to bundle a slew of insurance policies on top of just home insurance to save more money on coverage.
Pros and cons
Pros
Excellent customer service score and receives few complaints
Excellent financial strength rating from A.M. Best, proving it likely has the funds to pay out claims in the wake of a natural disaster
Most affordable rates in New Orleans
Cons
Need to have a Farm Bureau membership to purchase insurance
More details
Why we chose Farm Bureau
Homeowners in New Orleans can get the best rates on home insurance from Farm Bureau. We found that the average cost of coverage in New Orleans from Louisiana Farm Bureau is just $788 per year — nearly three quarters cheaper than the citywide average.
While Farm Bureau's rates are cheap, there's not much room to customize a basic policy. That said, if you bundle your home insurance with another policy — including auto, life, commercial, and ranch insurance — you could receive a bundling discount.
How do Farm Bureau home insurance rates compare to the New Orleans average?
The average cost of Farm Bureau home insurance in New Orleans is $788 per year, which is about 72% cheaper than the average annual premium in the city.
How to get a quote
By contacting a local Farm Bureau agent
How much is homeowners insurance in New Orleans?
The average cost of homeowners insurance in New Orleans is $2,805 per year, or $234 a month, for an insurance policy with $300,000 in dwelling coverage. This means insurance in New Orleans is 49% cheaper than the national average.
New Orleans home insurance rates by ZIP code
The cost of homeowners insurance can depend in part on where in New Orleans you live. We found the average cost of home insurance in the city's most populated ZIP codes. Of these ZIP codes, 70126 has the cheapest rates and 70114 has the most expensive.
ZIP code | Average annual cost | Difference from state average (%) |
|---|---|---|
70119 | $2,820 | 15% |
70122 | $2,640 | 8% |
70118 | $2,797 | 14% |
70115 | $2,802 | 14% |
70126 | $2,639 | 8% |
70131 | $3,015 | 23% |
70117 | $2,850 | 16% |
70127 | $2,640 | 8% |
70128 | $2,644 | 8% |
70114 | $3,033 | 24% |
Cheapest ZIP codes for home insurance in New Orleans
We found that the cheapest home insurance in the entire city can be found in the 70126 ZIP code. The average cost of homeowners insurance here is $2,639 per year, still 8% higher than average in the state of Louisiana.
ZIP code | Average annual cost | Difference from state average (%) |
|---|---|---|
70126 | $2,639 | 8% |
70122 | $2,640 | 8% |
70127 | $2,640 | 8% |
70128 | $2,644 | 8% |
70124 | $2,646 | 8% |
70129 | $2,650 | 8% |
70125 | $2,787 | 14% |
70118 | $2,797 | 14% |
70115 | $2,802 | 14% |
70130 | $2,812 | 15% |
Most expensive areas for homeowners insurance in New Orleans
We found that the most expensive homeowners insurance in New Orleans can be found in the 70114 ZIP code. On average, the cost of homeowners insurance here is $3,033 per year, 24% higher than the statewide average.
ZIP code | Average annual cost | Difference from state average (%) |
|---|---|---|
70114 | $3,033 | 24% |
70131 | $3,015 | 23% |
70148 | $2,918 | 19% |
70117 | $2,850 | 16% |
70116 | $2,848 | 16% |
70145 | $2,843 | 16% |
70146 | $2,843 | 16% |
70163 | $2,843 | 16% |
70170 | $2,840 | 16% |
70113 | $2,835 | 16% |
Learn more >> Home insurance rates by ZIP code
New Orleans home insurance costs by coverage amount
Dwelling coverage is the section of your insurance policy that covers the cost to repair or rebuild your home after a covered loss. Your dwelling coverage limit should be equal to your home’s replacement cost, the amount it would take to rebuild your house from the ground up — not its market value or purchase price.
As shown in the table below, more dwelling coverage means higher home insurance rates. In New Orleans, a policy with $100,000 in coverage has an average cost of $1,226 per year, while a policy with $500,000 in coverage has an average yearly cost of $4,513.
Dwelling coverage limit | Average annual cost |
|---|---|
$100,000 | $1,226 |
$200,000 | $1,854 |
$300,000 | $2,805 |
$400,000 | $3,646 |
$500,000 | $4,513 |
New Orleans home insurance costs by deductible amount
Your homeowners insurance deductible is the amount you pay on your claim before your insurance kicks in to cover the rest. It may seem like a cost-effective decision to opt for a low deductible to save money on claims, but keep in mind that your monthly or annual premium payment will be far higher.
As seen in the table below, New Orleans residents can save an average of $320 on home insurance by choosing a $2,000 deductible over the $500 option.
Deductible | Average annual cost |
|---|---|
$500 | $1,683 |
$1,000 | $1,876 |
$2,000 | $1,363 |
Cheapest homeowners insurance companies in New Orleans
We found that the absolute cheapest homeowners insurance companies in New Orleans are Farm Bureau, Armed Forces Insurance, Bankers Insurance, State Farm, and Allstate. The company with the cheapest rates for you depends on where you live and other factors to do with your home and insurance record.
Company | Average annual cost |
|---|---|
$788 | |
$1,071 | |
Bankers Insurance Group | $1,215 |
$1,626 | |
$2,107 | |
New Holdings Group | $2,297 |
$2,844 | |
$4,107 | |
$4,583 | |
Lighthouse Property Insurance | $5,571 |
$5,934 | |
Access Home Insurance | $6,893 |
Cheapest home insurance in New Orleans if you have poor credit
Your credit score can impact your home insurance rates. Homeowners with poor credit scores are viewed by insurance providers as higher risk, so they’ll often be charged expensive rates as a result.
With an average rate of $788 per year, Farm Bureau has the cheapest home insurance rates in New Orleans for homeowners with poor credit.
Company | Average annual cost |
|---|---|
Farm Bureau Insurance | $788 |
Armed Forces Insurance | $1,833 |
Bankers Insurance Group | $1,998 |
New Holdings Group | $2,297 |
State Farm | $2,766 |
Allstate | $3,530 |
Shelter Insurance | $3,549 |
The Hanover | $5,140 |
USAA | $6,008 |
Access Home Insurance | $6,893 |
Lighthouse Property Insurance | $7,754 |
Foremost | $11,398 |
Cheapest home insurance in New Orleans if you have an older home
It can be costly to insure older homes since they're more prone to structural damage than newer homes. They're also often constructed with materials and features that would be more expensive to replace after a claim.
With an average annual premium of $788, Farm Bureau offers the cheapest home insurance rates for an older home in New Orleans.
Company | Average annual cost |
|---|---|
Farm Bureau Insurance | $788 |
Armed Forces Insurance | $1,252 |
Bankers Insurance Group | $1,297 |
State Farm | $1,626 |
Allstate | $2,107 |
New Holdings Group | $2,452 |
Shelter Insurance | $2,844 |
The Hanover | $4,677 |
USAA | $5,634 |
Foremost | $6,032 |
Access Home Insurance | $6,893 |
Lighthouse Property Insurance | $7,939 |
Cheapest homeowners insurance in New Orleans if you have a history of claims
Having a history of claims is one of the most likely reasons why your rates could be expensive. If you have multiple claims on your record, insurers will think you're more likely to file future claims than a homeowner without any past claims.
Farm Bureau offers the cheapest home insurance rates in New Orleans for a homeowner that's filed three claims within a five-year period.
Company | Average annual cost |
|---|---|
Farm Bureau Insurance | $788 |
State Farm | $1,853 |
Armed Forces Insurance | $1,966 |
Bankers Insurance Group | $2,111 |
New Holdings Group | $2,297 |
Allstate | $3,458 |
FedNat | $3,568 |
Shelter Insurance | $4,253 |
The Hanover | $4,913 |
UPC Insurance | $5,221 |
USAA | $6,450 |
Access Home Insurance | $6,893 |
Foremost | $8,577 |
Lighthouse Property Insurance | $9,113 |
Coverage options in New Orleans
When looking at how much each insurance company charges for different coverage levels and risks, you should also be aware of what your policy does and doesn’t cover.
Before you buy homeowners insurance in New Orleans, be sure you're protected against flooding and windstorms.
Flood insurance
New Orleans is a low-lying city that's vulnerable to flooding, but flooding damage isn't covered by normal home insurance policies. If your home is one of the properties in Orleans Parish that's in a flood hazard zone, you should consider flood insurance.
Some insurance companies offer flood endorsements or even separate policies. Homeowners can compare private flood insurance rates in New Orleans with Policygenius, or choose a policy through a government entity like the National Flood Insurance Program (NFIP).
Windstorm insurance
New Orleans, like the rest of Louisiana, may be affected by hurricanes and tornadoes. Although homeowners insurance usually covers wind damage from tornadoes and hurricanes, it can get more complicated where there are many windstorms.
Home insurance companies in Louisiana may charge a separate deductible after a windstorm damages your home — or may exclude coverage entirely. In this case, you would need to get a separate windstorm policy or find a company that covers wind damage.
How to get homeowners insurance quotes in New Orleans
Hurricanes, floods, and rising crime rates contribute to high insurance costs in New Orleans. By knowing what coverage you need, shopping around, and looking for discounts, you can save money on your policy.
Here are a few steps to follow when shopping for insurance in New Orleans:
Frequently asked questions
How does a home insurance deductible work?
Your deductible is the amount you’re responsible for paying on each covered claim before your insurance kicks in to cover the rest of the loss. If you have a $2,000 deductible and file a $10,000 claim for damage to your roof, you will need to pay the first $2,000 before your insurer pays the remaining $8,000.
What is the average cost of home insurance in New Orleans?
The average cost of home insurance in New Orleans is $2,805 per year, which is higher than both the state and national averages due to high-risk factors in the city. To save money, bundle your home and auto policies with the same company and ask about any other discounts offered. You can also compare quotes to make sure you’re getting the best rate.
What is personal property insurance?
Personal property insurance covers your belongings inside your home if they are damaged in a covered loss. These items include everything you can move in and out of your house such as your furniture, electronics, clothes, and more.
