Best and Cheapest Homeowners Insurance in Louisiana as Rated by Customers in 2022
Nobody wants to file a claim with their homeowners insurance company. We want to avoid fires, windstorms, and other hazards that might lead to major damage. We certainly don't want to see the increased cost of homeowners insurance after a claim.
Once something happens, we want things to run smoothly. The idea is to get the claim paid and your home repaired as quickly as possible. In Louisiana, homeowners face many of the same hazards other states do. Unfortunately, when affected by natural disasters, many people are competing for the same repair resources in a short time making it important to have an insurer who can keep up.
There are many things that your home may experience that would require a claim, but having one of the best Louisiana insurance company can put your mind at ease. While the wait will naturally be longer if you're involved in natural disasters, well-organized systems are set up to streamline the process.
Can you get premium service with affordable homeowners insurance quotes?
To help you be more confident in your homeowners insurance company, we have reviews and rankings for hundreds of homeowners insurance companies so you can evaluate and compare the best Louisiana home insurance companies. In the table above, you can sort through every homeowners insurance company ranked on Clearsurance. Next to each insurer you'll find the company's rating, which is based exclusively on the reviews and ratings provided by customers. Note: Only those companies with at least 25 homeowners insurance reviews are eligible to appear in the best Louisiana homeowners insurance rankings.
If you're looking for additional information on one of the best homeowners insurance companies in Louisiana, you can visit the company's profile page where you'll learn about the company, additional coverages and potential discounts offered. You can also read reviews to see what other policyholders have to say about the home insurance company.
On this page:
- Cheapest homeowners insurance rates in Louisiana for a $200K dwelling
- Cheapest homeowners insurance rates in Louisiana for a $400K dwelling
- Louisiana property crime statistics
- Louisiana disaster statistics
For a $200K home in Louisiana, American Strategic Insurance provides the cheapest homeowners insurance in, on average, out of the companies analyzed. This is based on a $200,000 replacement cost. Of course, depending on where you live, your replacement cost may be lower changing the numbers.
With a median home value of about $169,004 in the state of Louisiana, this covers most of Louisiana's properties. If you have jewelry or other high value items you want to protect, personal property coverage can be added on. Your dwelling coverage will only account for your home's structure as it is now or before disaster happens.
In the table below, you can see the top five largest homeowners insurance companies in Louisiana, and the average cost of a homeowners policy with them based on the price of your home.
|Company||Average rates for $200K dwelling|
|American Strategic Insurance Group (ASI)||$727|
|Louisiana Farm Bureau Insurance Company||$3,201|
|State Farm Insurance Company||$1,314|
These rates are based on a $200,000 dwelling with the following coverage limits: $100,000 personal property, $20,000 loss of use, $20,000 other structures, $300,000 liability and $5,000 medical. The policy has a $1,000 deductible. The house used for the profile was constructed in 2004 and the individual had a good insurance score. The rates displayed should only be used for comparative purposes as individual rates in Louisiana will differ. Rate data is provided by Quadrant Information Services.
For a $400K home in Louisiana, American Strategic Insurance is also, on average, the cheapest homeowners insurance in Louisiana out of the companies analyzed. Again, this is established using a $400,000 replacement cost and standard personal property and other coverage for that price.
In the table below, you can see the top five largest homeowners insurance companies in Louisiana, and the average cost of a homeowners insurance policy with them based on the price of your home.
If you live in certain areas, you might be required to buy windstorm insurance and/or a flood insurance policy. Mortgage lenders set the insurance requirements most homeowners go by. If you don't buy flood insurance, with or without a mortgage, you may not be eligible for NFIP assistance after a major flooding disaster.
|Company||Average rates for $400K dwelling|
|American Strategic Insurance Group (ASI)||$1,347|
|Louisiana Farm Bureau Insurance Company||$6,209|
|State Farm Insurance Company||$2,066|
These rates are based on a $400,000 dwelling with the following coverage limits: $200,000 personal property, $40,000 loss of use, $40,000 other structures, $300,000 liability and $5,000 medical. The policy has a $1,000 deductible. The house used for the profile was constructed in 2004 and the individual had a good insurance score. The rates displayed should only be used for comparative purposes as individual rates in Louisiana will differ. Rate data is provided by Quadrant Information Services.
Theft and vandalism or malicious mischief are among the 16 perils a standard homeowners insurance policy protects you from. So, how does crime in Louisiana compare to other states around the country? The FBI published the following statistics on crime in Louisiana for 2016:
- Property crime - 154,386
- Burglary - 34,667
- Larceny theft - 109,380
All three statistics for Louisiana, when compared to the national average rate per 100,000 inhabitants, rank well above the national average. Following a windstorm or other major disaster, these statistics rise significantly. Just like windstorm insurance, homeowners policies that offer theft protection cover you all year round, not just when there's a disaster.
If you own a home, always check your insurance policy for hurricane coverage. Many standard policies exclude hurricane coverage requiring homeowners to buy a separate policy. More importantly, Louisiana is one of 18 states that allow a hurricane deductible. If you need a separate policy, or if you live in a condo that has coverage in a master policy, make sure you understand how much you'll be responsible for. Even though 2-4% might seem like a reasonable deductible when you're buying, you have to consider your repair costs. If your $400,000 replacement cost home is destroyed in a hurricane, 2% would be $8,000 coming out of your pocket for repairs.
Weather-related incidents are typically among the costliest homeowners insurance claims. Weather-related incidents are typically among the costliest homeowners insurance claims. With different weather-related hazards affecting homeowners in Louisiana virtually every year, comprehensive coverage is essential. FEMA has published statistics for each state since 1953. Data is updated through August 2018. Here’s a look at the Louisiana federally declared disasters since 1953:
- Flood - 26
- Hurricane - 26
- Severe storm - 14
- Tornado - 5
- Coastal storm - 2
- Snow - 2
- Fire - 1
- Severe ice storm - 1
How are homeowners insurance rates calculated in Louisiana?
Ever wonder why you pay what you do for home insurance in the state of Louisiana? Some things may be obvious, like the age of your home. But other factors that contribute to the price of homeowners insurance may not be as obvious. Here's a list of some of the things homeowners insurance companies consider when quoting you a rate:
- The level of coverage required
- Your chosen coverage limits
- Your zip code and the hazards your home faces
- The size of your mortgage
- Your credit score
- The square footage of your home
- The geographic location of your home in Louisiana
- The condition of your home
- Crime rates in your neighborhood
- The proximity of your home to a fire station
- Your previous claims record The amount of your deductible
- Optional add-ons like umbrella insurance
Zillow estimates that homeowners can expect to pay approximately $35 each month for every $100,000 of your home's value.
In addition to standard homeowners coverage (dwelling coverage or liability coverage), you may purchase optional coverage to better protect your assets. Some coverage types include: flood insurance, water backup coverage, equipment breakdown coverage, windstorm coverage. You should still discuss your coverage with an insurance agent, as hurricanes are one of the most common concerns in Louisiana. Some types of wind damage may be covered under a homeowners policy, but sometimes certain named storms are excluded and require special coverage. You may also need to have separate deductible for hurricane damage.
How does Clearsurance rate and rank the best homeowners insurance companies in Louisiana?
Consistent with its mission towards greater transparency, Clearsurance does not keep its rating and ranking formulas in a black box. Our algorithm analyzes a range of inputs from our independent community of insurance customers, including:
- Customer Service
- Claim service
- Likelihood to renew
The algorithm also takes into account the percentage of what customers say the company does well vs. the percentage of what customers say the company could do better.
By using consumer reviews from homeowners in Lake Charles, Baton Rouge, New Orleans, and many other areas, we get a realistic view of what it's like to have coverage with each company. Do they offer support when things are fine? How quickly do they process claims? What happens when neighborhoods are hit by a hurricane? Every company has positive and negative reviews. We find the reviews for the top performers inevitably balance out in their favor.
Homeowners Insurance Guide
Your home is likely your most valuable asset, making it that much more important that you insure your home with one of the best Louisiana homeowners insurance companies. If your home is in bad shape, it's hard to redirect attention to your job, childcare, and other important parts of your lives. When you're working with a cheap homeowners insurance company you can trust, all of this becomes easier.
Service isn't the only deciding factor. For many homeowners, a policy has to be affordable first. It all starts with going online to get quotes or talking to an insurance agent about your options and how much you should expect to pay.
But beyond just picking a company, it's crucial to have the right coverage and to understand that coverage. Did you know that a standard homeowners insurance policy has six types of coverage? And did you know that there are usually 16 types of perils found in a homeowners insurance policy?
If you're looking for a new homeowners policy, let us guide you through different insurance coverages. We can get you price quotes on comparable policies that meet your needs. Then you can get answers about individual policies as needed. Finally, check out the customer reviews to see which policies are actually as good as they sound.
At Clearsurance, we want to make sure you have a strong understanding of your homeowners insurance coverage and what it all means. Check out our homeowners insurance guide to become a smarter insurance customer. And for more educational content on other homeowners insurance topics, check out our homeowners insurance blog!
Frequently Asked Questions
Who offers the best homeowners insurance rates in Louisiana for a $200K home?
For a $200K home in Louisiana, American Strategic Insurance provides the cheapest homeowners insurance in, on average, out of the companies analyzed. However, the cheapest homeowners company will vary based on individual rating factors such as age, claims history, home's age and the specific features of your home.
Who offers the best homeowners insurance rates in Louisiana for a $400K home?
For a $400K home in Louisiana, American Strategic Insurance is, on average, the cheapest homeowners insurance in Louisiana out of the companies analyzed. However, you should note that the price is not the only factor worth considering when looking for the best coverage that fits your needs.