When buying homeowners insurance in Louisiana, it's important to choose a policy that covers the specific types of risks you're most vulnerable to. You can be affected by floods, tornadoes, earthquakes, or other "insurance perils". You may also want to check whether the policy covers collectibles and valuables. And, of course, there are some exclusions.
Allstate
Allstate, a trusted insurance company, offers homeowners a wide range of options. The website and digital tools make it easy for homeowners to compare coverage. There are also discounts available for homeowners such as discounts on centralized fire alarms and security systems.
State Farm
State Farm Louisiana provides a wide range of homeowners insurance options. Each policy is different and the cost depends on the size of your home, the construction materials, and the location. Online quotes are available or you can speak with 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 discounts include paying in advance, going paperless, purchasing a newer house, bundling home and auto insurance, and buying paperless. 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. One such incentive is the name your price option, which enables prospective customers to indicate the exact price they'd like to pay for their policy.
The Hanover
Hanover Louisiana homeowners insurance was created to protect your home. There are many endorsements available, including water backup and service line coverage. A policy with guaranteed replacement costs can be purchased. Online resources are also available to help buyers and home owners make informed decisions about their insurance.
USAA
USAA is Louisiana's most trusted insurance company. It is also a well-regarded company that holds a Complaint Index of 0.50, which means that it has half the complaints of similarly-sized insurers. USAA's rates tend to be higher than those charged by most Louisiana companies. In fact, the average homeowner's policy from USAA costs $1,950 per year or $163 per month, which is $264 higher than the average rate in the state.
Hurricanes
The home insurance market in Louisiana will see higher rates as it prepares for the 2022 hurricane season. Due to the high hurricane risk, many home insurance companies have reviewed their ability to offer Louisiana policies. 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 get flood insurance if your Louisiana property is located. These policies are designed to cover flood damage and other natural disasters in your home. You can get coverage of up to $250,000 on your home's structural structure and $100,000 on its contents. You can also purchase supplemental policies from private insurers if your property is of higher value.
Windstorms
Louisiana homeowner's insurance includes two main components: hail coverage and wind coverage. Both can cause significant damage to homes or vehicles. Louisiana is well-known as a state that experiences severe storms such as hurricanes and tornadoes. Louisiana homeowners may want to consider adding hail and wind coverage to their home insurance policies. Hail can smash windows, damage siding, gutters or roofs, and cause other structural damage. Wind can even blow away trees, causing debris to float in the air.
Credit score
Your credit score plays a major role in the cost of buying a Louisiana home. Because you have less credit, a home insurer will raise the cost of your policy. You should consider your credit score when shopping for insurance, and make sure you compare quotes from three or more different companies.