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Best homeowners insurance in Louisiana for 2023

Based on Bankrate's research, USAA, Allstate, State Farm, The Hanover and ASI Progressive are writing the best homeowners insurance in Louisiana.

Updated Sep 01, 2023
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Compare the best homeowners insurance companies in Louisiana

Based on our analysis, USAA, Allstate and State Farm are the top Louisiana homeowners insurance companies, followed by The Hanover and Progressive. These carriers offer a mix of competitive rates, robust coverage, unique discounts, high financial strength ratings and good customer satisfaction scores from the 2022 J.D. Power U.S. Home Insurance Study. If you are in the market for the best Louisiana homeowners insurance, these companies might be a good place to start gathering quotes.

USAA
Rating: 3.7 stars out of 5
3.7
Bankrate Score
Info
AM Best
A++
J.D. Power
884
/1,000
Average monthly premium
$149
Average annual premium
$1,789
Get a quote
Allstate
Rating: 3.5 stars out of 5
3.5
Bankrate Score
Info
AM Best
A+
J.D. Power
815
/1,000
Average monthly premium
$219
Average annual premium
$2,626
Get a quote
State Farm
Rating: 3.2 stars out of 5
3.2
Bankrate Score
Info
AM Best
A++
J.D. Power
829
/1,000
Average monthly premium
$107
Average annual premium
$1,288
Read review
The Hanover
Rating: 3.1 stars out of 5
3.1
Bankrate Score
Info
AM Best
A
J.D. Power
Not rated
Average monthly premium
$147
Average annual premium
$1,764
Get a quote
ASI Progressive
Rating: 2.8 stars out of 5
2.8
Bankrate Score
Info
AM Best
A+
J.D. Power
801
/1,000
Average monthly premium
$87
Average annual premium
$1,041
Get a quote
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This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.

Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

*Premiums are for $250K in dwelling coverage

**USAA not officially ranked by J.D. Power due to eligibility restrictions

The top five home insurance companies in Louisiana

USAA

Best for military-focused coverage

Rating: 3.7 stars out of 5
3.7 Bankrate Score
JD Power: 884/1,000 AM Best: A++

Average annual premium

$ 1,789 for $250k dwelling coverage
USAA Review Get a personalized quote

USAA does not qualify for an official J.D. Power ranking because it sells its insurance exclusively to active-duty military members, veterans and their qualified immediate family members. However, USAA consistently receives high customer satisfaction scores. If you qualify for coverage, the company’s home insurance features military-focused coverage, like uniform coverage, plus discounts for bundling and having a monitored alarm system. USAA is rated A++ (Superior) by AM Best, the highest financial strength rating possible.

Allstate

Best for robust coverage

Rating: 3.5 stars out of 5
3.5 Bankrate Score
JD Power: 815/1,000 AM Best: A+

Average annual premium

$ 2,626 for $250k dwelling coverage
Allstate Review Get a personalized quote

Although Allstate’s premium is higher than Louisiana’s average, it may be appealing based on the optional coverage types offered. You could personalize your policy by adding electronic data recovery, yard and garden coverage, water backup or musical instrument coverage. Allstate also offers a Claim Rateguard feature, which may prevent your cost of homeowners insurance from increasing after a claim. The company is rated A+ (Superior) by AM Best for its financial strength.

State Farm

Best for local agencies

Rating: 3.2 stars out of 5
3.2 Bankrate Score
JD Power: 829/1,000 AM Best: A++

Average annual premium

$ 1,288 for $250k dwelling coverage
State Farm Review Get a personalized quote

State Farm may be appealing if you like handling your needs in person through its statewide network of exclusive local agents. The company’s average annual premium is below Louisiana’s overall average, although a few discounts may help lower your premium, like roofing discounts and multi-policy discounts. However, State Farm does have a higher-than-average overall complaint index from the National Association of Insurance Commissioners (NAIC), which indicates more complaints than average.

The Hanover

Best for educational resources

Rating: 3.1 stars out of 5
3.1 Bankrate Score
JD Power: Not rated AM Best: A

Average annual premium

$ 1,764 for $250k dwelling coverage
The Hanover Review Get a personalized quote

The Hanover has online resources to help you with the process of being a homeowner, like buying, renovating and selling your home. In addition to an average premium that is lower than the state average, The Hanover also offers several endorsements to help you personalize your policy, including service line coverage, water backup coverage and guaranteed replacement cost coverage. The Hanover may not have as many local agencies in Louisiana as some companies though, so it may not be best if you like an in-person experience.

ASI Progressive

Best for discounts

Rating: 2.8 stars out of 5
2.8 Bankrate Score
JD Power: 801/1,000 AM Best: A+

Average annual premium

$ 1,041 for $250k dwelling coverage
ASI Progressive Review Get a personalized quote

Progressive stands out for its wide array of home insurance discounts, including new home construction, advance quote and paperless. Homeowners who already have a car insurance policy with Progressive may consider bundling their homeowners policy for a multiple policy discount for even more convenience. Progressive doesn’t offer as many add-on options as some competitors, though, making it a bit more difficult to personalize your policy.

How Bankrate chose the best home insurance companies in Louisiana

To find the best homeowners insurance in Louisiana, we first obtained current premium information from Quadrant Information Services. After analyzing the data, we also considered each company’s coverage offerings, discounts and third-party metrics from agencies like J.D. Power and AM Best. A company’s performance in each of these categories determined its Bankrate Score. The better it scored in each category, the higher its overall Bankrate Score for a maximum score of 5.0 points.

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How much is homeowners insurance in Louisiana?

The average premium for homeowners insurance in Louisiana is $1,992 per year for $250,000 in dwelling coverage, which is 40 percent higher than the national average of $1,428 per year. The higher cost may be attributed, in part, to a record-level of hurricane activity impacting the Pelican State over the past two seasons. The state’s coastal positioning leaves it vulnerable to widespread damage caused by hurricanes and tropical storms, and its lower elevation makes most of the state prone to severe flooding.

Average Louisiana homeowners insurance premiums are in line with surrounding states. Texans pay an average of $1,967 per year for the same coverage amount, and homeowners in Mississippi pay an annual average of $1,900. However, Louisiana homeowners pay slightly less for home insurance than they would in Arkansas, where the average cost for a policy with $250K in dwelling coverage is $2,123 per year.

$150K
$1,224
$250K
$1,789
$350K
$2,341
$450K
$2,888
$750K
$4,550
$150K
$1,433
$250K
$2,626
$350K
$3,964
$450K
$5,303
$750K
$9,336
$150K
$917
$250K
$1,288
$350K
$1,569
$450K
$1,938
$750K
$3,023
$150K
$1,057
$250K
$1,764
$350K
$2,495
$450K
$3,228
$750K
$5,426
$150K
$687
$250K
$1,041
$350K
$1,461
$450K
$1,786
$750K
$2,771
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This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.

Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

One of the factors that plays a role in determining your rate is your ZIP code. Where you live may indicate how likely it is that you would be filing a claim. If you live in an area where the cost of repairs and raw materials is low, for example, you may pay less for your policy than someone who is likely to incur high costs while doing repairs. These cities are among the cheapest locations for home insurance in Louisiana, based on average rates from Quadrant Information Services:

  • Holden: $1,832  — 8 percent below the state average
  • Albany: $1,835 — 8 percent below the state average
  • Livingston: $1,840 — 8 percent below the state average
  • Saint Benedict: $1,846 — 7 percent below the state average
  • Roanoke: $1,857 — 7 percent below the state average

Cities where homeowners insurance is more expensive may be in areas that experience a higher rate of natural disasters or crime. They may also be in locations where labor and materials are more costly, resulting in claims that come with a high price tag. These Louisiana cities have a higher-than-average rate for home insurance, though keep in mind that your own rate is likely to differ from these averages:

  • Hahnville: $2,333 — 17 percent above the state average
  • Luling: $2,333 — 17 percent above the state average
  • Ama: $2,326 — 17 percent above the state average
  • Norco: $2,316 — 16 percent above the state average
  • Saint Rose: $2,309 — 16 percent above the state average

How to find the best cheap home insurance in Louisiana

Although average Louisiana home insurance rates are well above the national average, homeowners may still be able to save by being strategic with their insurance shopping. The following strategies may help you find lower rates in the Pelican State. 

  1. Shop around: You may receive very different quotes from different companies, even for the same coverage selections. Comparing quotes and discount opportunities from a handful of carriers may ensure you're getting the lowest premium for your circumstances. 
  2. Work on your credit score: Home insurance companies in Louisiana can consider your credit history when determining your insurance rates. Improving your credit score may help bring down your rates. 
  3. Repair or replace your roof: An older roof or one in poor repair may easily become the reason for a costly claim. Newer roofs, especially those built with impact-resistant materials, may get you a lower rate or an extra discount with select carriers. 
  4. Bundle your policies: If you are happy with the company that carries your car insurance, you might consider purchasing your home insurance coverage from the same carrier. Most insurers offer a sizable discount to policyholders who carry more than one policy with them.
  5. Increase your deductible: Although most insurance professionals recommend exploring other savings strategies before adjusting your deductible, you will likely earn a lower premium if you agree to pay more out of pocket in the event of a claim. Note that you likely want to keep your deductible low enough that you could comfortably pay it at any time should you need to file a claim for covered damage.

Common home insurance discounts in Louisiana

Discounts may be one of the best ways to save money on your Louisiana homeowners insurance. Almost all insurers offer at least a few discounts, and many of them are not hard to qualify for. You may want to review your policy each year to see if there are any additional savings opportunities you qualify for. Some of the most common discounts include:

Types of home insurance in Louisiana

In addition to the standard home insurance coverage types, like dwelling, liability and contents, you may want to purchase optional coverage to increase your financial protection. Some coverage types that Louisiana homeowners might want to consider include:

  • Flood insurance: Damage caused by flooding is not typically covered by standard homeowners insurance and requires a separate flood insurance policy. These can be purchased from the federally backed National Flood Insurance Program (NFIP) or numerous private flood insurers. Some property insurers may offer a flood insurance endorsement that can be added to your standard homeowners insurance policy to provide dwelling coverage and personal property coverage. In many coastal areas, flood insurance is required if you have a mortgage on your home.
  • Water backup coverage: If water damages your home after backing up in a sewer or drain line, you will need this endorsement to have insurance coverage. This type of damage is common in basements or crawl spaces, but can happen from any sewer or drain line and can also be caused by a sump pump failure or power outage.
  • Equipment breakdown coverage: This optional coverage may not be available from every company, but provides coverage for damage to (or the breakdown of) your home’s mechanical systems, like your air conditioner and water heater.
  • Windstorm coverage: While coverage for hurricanes and windstorms are included in most standard homeowners policies, there may be some caveats. Depending on the severity of a tropical system and whether it becomes a “named storm,” some companies may have a percentage deductible rather than the traditional dollar deductible. This means that your deductible would be a percentage of your dwelling limit, typically ranging from 2–10 percent. There is also just one windstorm deductible assessed per hurricane season, even if you sustain losses from multiple named storms. Additionally, if your home is in a particularly high-risk area and you are having a difficult time finding insurance, you may be able to opt for the Louisiana Citizens Property Insurance Corporation, which is a FAIR plan intended for temporary coverage while you look for a permanent solution.

Because hurricanes are one of the biggest weather concerns in Louisiana, reviewing your hurricane coverage with your agent and being familiar with your homeowners declarations may be a good idea. With home replacement costs increasing this year due to rising costs of construction materials and labor, make sure that your policy’s dwelling coverage is adequate to rebuild your home in the event of a catastrophic loss. It may also be helpful to know what will happen to your homeowners insurance once a storm reaches “named storm” status or meets other thresholds, like a specific wind speed, so that you can be prepared in the event you need to file a claim.

Info
Recent News: Louisiana insurers struggle to manage risks in hurricane-prone state

It's not a surprise to any Louisiana resident that the state is known for fierce weather, especially in the southern coastal areas facing the Gulf Coast. The 2020-2021 hurricane season saw four storms — Laura, Delta, Zeta and Ida — that did a collective damage of more than $76 billion in the state and caused a handful of insurers to cease their operations there. 

Bankrate took a close look at the insurance situation in Louisiana. Here are our key insights: 

  • At least six Louisiana carriers have gone insolvent since Hurricane Laura hit the state in August 2020. 
  • It's likely that more frequent and stronger hurricanes are on the horizon, based on the National Climate Assessment. This will likely lead to even more volatility in the insurance market.
  • To stabilize the situation, the Louisiana legislature passed a $45 million bill in February 2023 to create an insurance incentive program, which will hopefully shore up the state's insurance companies and motivate them to keep writing policies in Louisiana.
  • Homeowners may see an increase in rates, especially those who are in high-risk areas. Those who have a difficult time securing coverage may need to purchase their insurance from Louisiana Citizens, the insurer of last resort in the state.

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Written by
Mary Van Keuren
Contributor, Insurance

Mary Van Keuren has written for insurance domains such as Bankrate, Coverage.com, and The Simple Dollar for the past five years, specializing in home and auto insurance. She has also written extensively for consumer websites including Reviews.com and Slumber Yard. Prior to that, she worked as a writer in academia for several decades.

Edited by Editor, Insurance