The average yearly cost of Louisiana homeowners insurance is $2,496. Louisiana homeowners pay more for their coverage than any other state in the country, according to the latest data from the Insurance Information Institute.
Louisiana’s history of devastating storms like Hurricane Katrina and its rapidly disappearing coast are the biggest drivers behind the expense of home insurance. The state loses a football field’s worth of land every hour and a half, which means the problem isn’t going away anytime soon. In fact, 843,349 Louisiana single-family homes are vulnerable to a Category 5 hurricane.
But here’s something that can change: how insurance companies approach risk. While national insurance companies respond to increased catastrophe risk by hiking prices or leaving the state, we believe good data makes a world of difference. We rely on detailed data models to find you coverage that’s priced based on your actual risk.
The result? You can usually save more on home insurance with Kin, even if your home usually has a hard time getting covered.
Let’s look at what makes the Louisiana homeowners insurance we can offer different, from what it covers to average premiums.
What Louisiana Homeowners Insurance Covers
We can offer Louisiana HO3 coverage issued through the Kin Interinsurance Network, rated A, Exceptional, by Demotech. In other words, it has the financial stability to pay out claims even after widespread disasters.
Louisiana homeowners insurance can cover:
- Your dwelling, including walls, foundation, roof, floors, plumbing, and more.
- Your belongings, like clothing, furniture, electronics, appliances, and more.
- Other structures that aren’t attached to your home, like a garage, fence, greenhouse, etc.
- Loss of use and additional living costs when a covered incident forces you to temporarily relocate.
- Personal liability in case you’re responsible for someone’s property damage or bodily harm.
- Medical expense payments when a guest has a small injury on your property.
These policies cover the home and other structures against all perils except those listed as exclusions. That means you have protection for the most common sources of damage, like fire, wind, hail, hurricanes, smoke, burst pipes, vandalism, theft, and much more.
Common exclusions are:
- Earth movement, such as an earthquake, sinkhole, and mudflow.
- Water damage from flood, sewer backup, or water seeping in through the foundation.
- Demolition of your home required by law to bring it to code.
- Seizure or demolition by a government agency or public authority.
Personal property is covered for 16 named perils – the most common events homeowners face – like theft, hail, wind, vandalism, explosions, vehicle damage, and more. You can upgrade your personal property protection to cover all perils, too.
Flood and Hurricane Coverage for Your Louisiana Home
Hurricane Laura made landfall in August 2020, but it was only Louisiana’s latest reminder of the devastation hurricanes bring. The storm claimed six lives and caused widespread property damage in Lake Charles in particular. In total, Hurricane Laura caused 128,009 home insurance claims. By the end of 2020, private Louisiana insurers paid out $4.5 billion in claims.
Hurricane Katrina is still the costliest hurricane in the history of the US. Louisiana is also home to five of the top coastal counties most frequently hit by hurricanes: Lafourche Parish, Jefferson Parish, St. Bernard Parish, Cameron Parish, and Terrebonne Parish.
So how can you make sure your home is protected?
The policies we can offer automatically include hurricane wind coverage. When a named storm damages your home, a hurricane deductible will apply.
You can also add on flood coverage, but it’s not automatically included in your policy. Don’t confuse flood coverage with hurricane coverage. Though floods typically accompany hurricanes, hurricane insurance covers wind-related damage. For water damage from storm surges, you need flood insurance.
How Much Is Homeowners Insurance in Louisiana?
On a state-wide average, Louisiana home insurance costs $2,375 with Kin, but your cost may be lower depending on your home’s location, its safety features, and the deductibles you choose.
To illustrate that point, check out some of the average cost savings we can provide by parish:
|East Baton Rouge||$1,723|
|West Baton Rouge||$1,755|
Keep in mind that these are average prices to give you a general impression of home insurance costs. The only way to know what you’ll pay for coverage is to get a quote. It’s fast, easy, and free!
Louisiana Homeowners Insurance Discounts
You can save even more on your homeowners insurance if:
- Your home has a hip shaped roof.
- Your home has wind mitigation features, like opening protection, IBHS designation, or was built 2006 or later.
- You have smart home safety and security devices.
- You have water leak detection and mitigation devices.
- You’re a new homebuyer.
- You live in a secured community.
- You have a clean claims history.
- You opt for an electronic policy.
Homeowners Insurance Deductibles in Louisiana
You can adjust your deductibles to save some money, too. The deductible is the portion of a loss you’re responsible for when you file a claim. Typically, the higher your deductible, the lower your premium.
Your Louisiana home insurance will have two deductibles: one for hurricanes and one for all other perils (AOP), like fires, theft, hail, etc. You can adjust both deductibles to help lower your premiums. Just be mindful not to take on a deductible that you couldn’t reasonably spare with little notice.
Louisiana Homeowners Insurance Laws: Is Coverage Required?
Homeowners insurance isn’t required in Louisiana by state law, but if you have a mortgage, you’re often required to have it. Your mortgage lender requires homeowners insurance for two reasons:
- To protect their investment. Homeowners insurance ensures you can pay your remaining mortgage even if a natural disaster destroys the home.
- To keep you from paying for a destroyed home you can’t repair. The requirement is good for you, too – imagine repaying a mortgage for a home you can’t afford to rebuild.
If you live in a FEMA-designated high-risk flood zone and have a federally backed mortgage, you’re required to have flood insurance, too.
Even if you own your home outright, home insurance is still a wise investment to protect your property from natural disasters, accidents, and theft.
Louisiana Homeowners Insurance FAQs
Does home insurance cover flooding in Louisiana?
No, a standard home insurance policy doesn’t cover flooding. But we can arrange flood coverage that you can add on to your policy.
Unlike National Flood Insurance Program policies that only offer $250,000 in flood coverage for your home, the flood protection we can offer matches your dwelling, other structures, and personal property limits. So if you have $350,000 in dwelling coverage, you would also have $350,000 in flood coverage for your home.
How do I keep Louisiana homeowners insurance rates low?
Take advantage of discounts. You can qualify for discounts by adding safety features to your home, like a security system or leak mitigation system. Review your policy every year to make sure you’re not missing opportunities to save.
What are my rights during the homeowners insurance claims process in Louisiana?
Louisiana law requires claims to be adjusted fairly and promptly after you file a loss. Once you submit proof of your loss, an insurer is required to begin adjusting the claim within 14 days. That deadline may be extended after a widespread natural disaster to 30 days.
The insurer must give written notice of the settlement decision within 30 days of receiving the proof of loss. Again, that deadline can be extended another 30 days in the event of a federal or state emergency.
How do I prevent losses?
Do regular maintenance and safety checks around your home. Make sure your smoke detectors are in good working condition and are installed on every floor. Install reliable locks on your doors and windows. Check your electrical panel, outlets, and light switches to make sure there’s no faulty wiring. Consider investing in a security system to deter break-ins.
How do I know which Louisiana home insurance company is right for me?
Customer reviews are a great way to learn what it’s like to work with an insurance provider. They give you firsthand insight into whether the company prioritizes customer satisfaction. Look for reviews that describe both the insurance buying and claims process.
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