It is important that you choose the policy that covers the risks you are most at risk when purchasing homeowners insurance in Louisiana. This can include damage due to earthquakes or flooding, tornadoes and other "insurance hazards". Also, consider whether your policy covers valuables and collectibles. There are exclusions.
Allstate
Allstate is an established insurance company that provides homeowners with a range of options. Its website and digital tools can be used to quickly compare coverage and are simple to use. The company offers homeowners discounts, such as for security systems and centralized fire alarms.
State Farm
State Farm has a range of options for homeowners insurance in Louisiana. Each policy is unique. The cost of each policy varies depending on the size and construction material used. You can request a quote online or talk to a local agent. You can file claims online, via their mobile app or by phone if you have an existing State Farm policy.
Progressive
Progressive Louisiana homeowners insurance provides a wide range of discounts. These include going paperless, paying in advance, buying a newer home, and bundling auto insurance and home insurance. Progressive has a lower average savings than other home insurance companies in our Best Home Insurance Companies for 2022 rating. However they still offer plenty to customers. Name your price allows potential customers to specify the price they would like to pay for their policy.
The Hanover
Hanover Louisiana homeowners' insurance is designed to protect your house. There are many endorsements that the company offers, such as water backup and service line protection. A policy that guarantees replacement cost can also be obtained. The company also has online resources that help home owners and buyers make smart decisions about their insurance.
USAA
USAA is Louisiana's most trusted insurance company. It has a Complaint Index (or 0.50) that is half that of similar-sized insurance companies. USAA's rates are more expensive than other companies in Louisiana. USAA's average homeowner's policy costs $1,950 annually or $163 per months, which is $264 more expensive than the average rate for the state.
Hurricanes
The home insurance market in Louisiana will see higher rates as it prepares for the 2022 hurricane season. A number of home insurance companies are reassessing their ability write Louisiana policies due to hurricane risks. A handful of companies have gone out of business, and the remaining companies have stopped writing new business and may even exit the state. This has led to a decrease in the number of insurance companies available, which means that homeowners are limited in their options for coverage.
Floods
You should purchase flood insurance if you own a Louisiana home. These policies cover flooding damage and other natural catastrophes that could affect your home. Coverage can be provided for as much as $250,000 for the structure of your home and $100,000 for its contents. Private insurers may also offer additional policies for higher-valued assets.
Windstorms
Louisiana homeowners insurance includes two important components, hail coverage as well as wind coverage. Both can cause serious damage to vehicles and homes. Louisiana is well-known for its hurricanes, tornadoes and other severe storms. Louisiana homeowners should look into supplemental hail and wind coverage as part of their home insurance. Hail can smash windows, damage siding, gutters or roofs, and cause other structural damage. And the wind can knock down trees and send debris into the air.
Credit score
If you're planning to buy a home in Louisiana, your credit score is a big factor in the overall cost. Your home insurance policy will be more expensive if your credit score is low. This is due to the fact that the insurer sees you as a higher risk. It is important to consider your credit score when looking for insurance. Also, make sure you get quotes from at least three different companies.