The Best Louisiana Home Insurance Companies 2020

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As a new homeowner in Louisiana, one of your top priorities should be finding the best homeowners insurance in Louisiana for your needs. There are a variety of Louisiana homeowners insurance companies to choose from. Home insurance isn’t something to skimp on since it’s a basic necessity when it comes to fire or water damage and even theft. Especially in Louisiana, home insurance with flood and water damage protection is a must.

In Louisiana, about 65.5% of homes are owner-occupied, and it translates to big bucks when it comes to home insurance. In 2018, Hurricane Michael caused insured losses of up to $12 billion in the Gulf States, including Louisiana, so having enough home insurance coverage is critical. In 2017 alone, hurricanes caused about $500-900 million in losses in Louisiana, so having the proper coverage is imperative.

The best home insurance companies in Louisiana

The best home insurance companies vary from state to state because of the unique vulnerabilities and different company offerings.

Check out our list of the 6 best homeowners insurance companies in Louisiana:

  • Amica
  • The Hartford
  • Farmers
  • Nationwide
  • Allstate
  • USAA

To provide you with the most informative, unbiased options, we read through dozens of home insurance websites and consumer reviews, paying special attention to the J.D. Power 2020 Insurance Study as a source of thorough ratings. The top 5 companies that we picked had a variety of low-cost options, coverage specific to Louisiana vulnerabilities and overall customer satisfaction.

J.D. Power Rating AM Best Rating BBB Rating
Amica Mutual 902 A+ A+
The Hartford 896 A+ A+
Farmers 893 A- A+
Nationwide 886 A+ A+
Allstate 882 A+ A+
USAA 904 A+ A+

Amica Mutual

J.D. Power gave Amica Mutual the highest rating in their 2020 Homeowners Insurance Study due to a combination of customer service, claims satisfaction, policy options and price. Customers have plenty of options to customize their policies and save using the list of discounts possible. Because Amica is a mutual company, you’ll also have the option to sign up for homeowners insurance coverage that pays you a small annual dividend.

The Hartford

The Hartford has an exclusive partnership with the AARP to provide older Americans with quality homeowners insurance coverage at a competitive price. If you’re over 50, your coverage through The Hartford insurance offers extra features such as replacement cost, lock replacement reimbursement and green rebuilding.

Farmers Insurance

Farmers is a great option for Louisiana residents who own historical estates or larger properties. The insurer specializes in large policy limits. If you have a beachfront property or a historical home in the French Quarter in New Orleans, Farmers may understand your needs best. To maximize savings, bundle your home insurance with an auto, life, business, recreational, motorcycle or umbrella policy.

Nationwide

Nationwide gives customers plenty of options to save on their homeowners insurance. It’s one of the most affordable options in the top five list. There are lower rates for homeowners with newer or recently-renovated homes as well as discounts for claims-free periods. Nationwide’s most unique coverage feature may be inflation protection. It will ensure you’re able to replace items at their current costs.

Allstate

Allstate offers four different standard coverage options, including dwelling coverage, liability protection, personal property coverage, and guest medical protection. Coverage for things like identity theft, water backup, and yard and garden aren’t considered part of the standard coverage and are optional add-ons for any policy. Allstate offers a unique flood insurance plan that isn’t a part of the standard offerings, so it could be more pricey for Louisiana homes, yet a very essential coverage, especially for homes close to the gulf.

USAA

USAA homeowners insurance covers fire, theft, vandalism, most weather-related events, liability and identity theft as part of their standard package. Since the company only mentions “most” weather-related events, you may want to double-check that hurricanes and flooding would be part of your coverage, especially if you live close to the water in Louisiana. USAA is known for excellent rates, however, coverage from USAA is only available to military members and their families.

Consider the following factors as you compare Louisiana homeowners insurance companies

  • How much are your home and property worth? Knowing this will help you understand how much you’re willing to pay for home insurance.
  • How much would you be able to spend on a deductible? The deductible is the amount that you’ll have to pay out-of-pocket before the insurance company begins to cover damages, so this needs to be something that fits into your budget. You can save money on your home insurance by choosing a higher deductible, but that’s also more you’ll need to cover yourself, so it’s important to find the right balance.
  • How much is your personal property worth? This will help you decide if you want your home insurance plan to include personal belongings.
  • Is your home particularly vulnerable to certain disasters? Living in Louisiana, flooding is a major concern. Some standard insurance policies will cover structural home damage, but may not include the scope of damage caused by flooding. Keep in mind that flood insurance is typically not included in standard policies, and with many insurers, you’ll need to add flood insurance via the National Flood Insurance Program.

Average cost of homeowners insurance in Louisiana

According to the Insurance Information Institute, the average premium for homeowners insurance in Louisiana is $1,967. Unfortunately, this makes Louisiana one of the most expensive states for homeowners insurance, but it’s well worth it to protect from hurricanes, storms, hot weather and tornadoes.

We assessed our top 5 insurance providers in Louisiana using the Louisiana Department of Insurance resource to get a sample premium rate for the following profile: A 10-year old home constructed with brick that’s about 1,800 square feet, needing $200,000 building coverage and $100,000 for personal property. The homeowner has a 710 credit score and lives in New Iberia, Louisiana, which is close to the Gulf of Mexico.

  • Amica: $2,812
  • The Hartford: $2,736
  • Farmers: $3,091
  • Nationwide: NA
  • Allstate: NA
  • USAA: $2,295

Home Insurance Coverage Options in Louisiana

Most homeowner’s insurance packages will include the same standard features, while you may need to pay more for a policy with certain add-on coverages.

  • Dwelling Coverage: This will cover damage to the physical structure of your home, and usually also includes any other physical structures on your property such as a shed or garage.
  • Liability Protection: This coverage keeps your protected financially in case someone gets hurt while on your property or you accidentally cause damage to someone else’s property.
  • Personal Property: This covers the contents inside your home. If you have especially valuable belongings, like art or jewelry, you may need to get specific coverage for those items.
  • Loss of Use: This protects you financially for when there’s damage to your home and you can’t stay there while it’s being fixed. Most insurance will cover the cost of a hotel and rental car.
  • Theft and Vandalism: Should your home be burglarized or vandalized, most insurance will cover the cost of repairs or replacement.
  • Medical: Some policies will help cover medical expenses for yourself or any guests that occur because of property damage to your home.
  • Weather: Most policies will include protection from weather-related events like storms and wind.
  • Flooding: This is important coverage to consider in Louisiana. Unfortunately, it usually isn’t part of standard weather coverage and may need a unique policy for your home.
  • Debris Removal: This is an add-on coverage that can help cover the costs of removing debris like trees and branches after a storm.

Common Causes of Home Insurance Losses in Louisiana

If you’re still unsure what type of home insurance policy is right for you and your home, consider some of the most common causes of home insurance losses in Louisiana.

  • Flooding: Flooding is a big concern for Louisiana homeowners, especially those who reside closer to the gulf.
  • Water Damage: Water damage is a common cause of insurance loss in most states. Keep in mind that water damage includes things like burst pipes, but usually doesn’t cover weather-related instances like flooding.
  • Windstorm: Wind damage is another big concern for Louisiana homeowners, especially when considering the number of hurricanes that Louisiana experiences. Luckily, wind damage is usually covered as part of a standard dwelling policy.

Since hurricanes are a common problem for homeowners in Louisiana, it’s important to ensure you’re covered from all the types of damage that a hurricane could incur in your home. Nine hurricanes have hit Louisiana since 2005’s Hurricane Katrina. Most homeowners insurance companies in Louisiana will even have a hurricane deductible that kicks in any time damage occurs by a declared hurricane. You may also want to look into hazard insurance to help cover the cost of anything that can happen in the event of a natural disaster.

Frequently Asked Questions

What is the cheapest homeowners insurance in Louisiana?

We found that American Strategic Insurance (ASI) has the cheapest homeowners insurance for a standard baseline profile living near the gulf. In general, homeowner’s prices will vary greatly depending on the age and size of your home, the value of your home and belongings, your proximity and likeliness to experience severe weather or natural disasters, your credit score and many other factors.

How do I get homeowners insurance in Louisiana?

To get home insurance, start by doing a personal assessment of your home value and personal property value. These amounts will help determine the cost of your insurance premium. Next, think about the standard insurance that you need as well as any other optional add-ons you may want for your policy, such as hazard or flood insurance.

How much is home insurance in Louisiana?

The average premium for homeowners insurance in Louisiana is $1,967, according to the Insurance Information Institute, which in 2016, made Louisiana the most expensive state for home insurance.