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Situated on the Vermillion River in southern Louisiana, Lafayette is a historic and diverse community that celebrates both Cajun and Creole culture. The city’s warm climate means its 125,800 residents get to enjoy outside activities year round. And because Lafayette is somewhat inland, the city seldom takes a direct hit from hurricanes.
But local homeowners know that they’re bound to see storm damage if a hurricane blows in from the Gulf – direct hit or not. The risk of named storms in the area means homeowners need quality Louisiana home insurance. Unfortunately, it also means coverage is costly, with the average Lafayette Parish resident paying $2,403 per year.
Lafayette homeowners insurance companies look at all the same factors that insurance companies consider in any other part of the country, such as:
Age can be of particular importance because many Lafayette homes have historic architecture and details that can have a major impact on replacement costs. Additionally, newer homes tend to have more safety features and better building materials, making them less expensive to insure.
Insurers may weigh each of the factors they use to determine their rates differently, which means r premiums for homeowners insurance in Lafayette can vary between companies. But the policies available through Kin* average just $1,578 per year.
Lafayette homeowners insurance policies typically haves the following six coverages:
While you can customize your home insurance simply by asking about available endorsements, you won’t need to ask about hurricane coverage. Policies placed through Kin cover wind damage caused by named storms. Water damage from storm surge, however, is often excluded. For that, you most likely need flood insurance, which you can buy as a standalone policy or add as an endorsement to your home insurance.
Every city has unique risks that its residents must prepare for. For Lafayette Parish residents, one of those risks is flooding. A flood map of the parish shows several flood zones throughout it, including:
The city itself does not have many flood zones, but the Vermillion River does run through it, so floods are possible.
Lafayette also has hurricane risk. As we mentioned before, the city isn’t on the Gulf Coast so it doesn’t face the full brunt of named storms as some of its neighbors do, but that doesn’t mean its homes make it through hurricanes without a scratch. Hurricane Laura, for example, caused more damage in other parts of the state, but it also brought trees down on homes and ripped off roofs in Lafayette. Moreover, the area can also see hail storms and tornadoes.
Sinkholes are another problem that Lafayette residents in the outskirts of town need to note. The ground has high salt deposits that get saturated if it rains or floods. This leads to erosion that can cause a sinkhole.
You may be eligible for a discount if you:
You might also want to increase your deductible because that usually causes your premium to go down. If you go this route, make sure that you can afford the deductible amount you choose. You don’t want to fall short on your portion in a claim. We offer the following options for both your hurricane and AOP deductible:
If you have any questions about getting homeowners insurance in Lafayette, call us at 855-717-0022.
*Kin is Kin Insurance Network Distributor, LLC, a licensed surplus lines producer.
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