New Iberia may be just a stone’s throw away from Lafayette, but it has a spirit that’s all its own. The town’s rich history is rooted in Native American, Spanish, French, and Black cultures, and that’s evident in the area’s amazing food and festivals. But even when New Iberia residents are letting the good times roll, they have to keep an eye on the weather. The town’s location makes it vulnerable to hurricanes, tornadoes, and floods.
All of that makes Louisiana home insurance essential if you’re one of the approximately 11,000 homeowners in New Iberia. Coverage can help protect your assets if your home is damaged in events common in your area, including tornadoes and hurricanes. Without homeowners insurance in New Iberia, LA, a loss can significantly impact your finances.
New Iberia home insurance cost
People who live closer to the Gulf have some of the most expensive homeowners insurance rates in the nation. Unfortunately, that includes New Iberians who can pay nearly $2,400 per year for coverage. That’s even above Louisiana’s average annual cost of $2,037.
There are several factors that impact home insurance premiums, such as:
- Location.
- Weather.
- Claims history.
- Square footage.
Homeowners insurance rates are also affected by the age of your home. Newer homes often see more favorable premiums because they’re built with safer materials and meet modern building codes. Moreover, historic homes can have features that are expensive to replace.
How Kin* is different
The home insurance we sell is priced using many of the same factors that other home insurance companies use. However, the rates for these policies are also based on thousands of data points from public sources. Using this granular data to set rates means the home insurance we offer in Louisiana is priced for the risk a particular house faces.
What homeowners insurance in New Iberia, LA covers
Homeowners insurance in New Iberia offers the financial protection you need when you experience certain types of losses, such as fire, theft, or windstorm damage. It does this through the following six distinct coverages:
Homeowners insurance policies via Kin insure your dwelling for its replacement cost on an open-perils basis. That means damages is typically covered unless it's caused by an event specifically excluded in the policy. For example, windstorms aren’t listed in the exclusions, so damage from hurricane winds is usually covered ﹘ although you will most likely have a separate hurricane deductible.
On the other hand, water damage from external sources is usually specifically excluded, so flooding from storm surge or overflowing lakes isn’t covered. That requires flood insurance.
Unique risks in New Iberia
Locals know that the annual hurricane season is a real risk to the city. In August, 2020, Hurricane Laura stormed through the region only to be followed by Hurricane Delta just a few weeks later. Those storms damaged homes and caused power outages in New Iberia.
Floods are also common in New Iberia during hurricanes, but also during thunderstorms. Much of the city is just barely above sea level, and flood maps show several flood zones, including Flood Zones A and AE.
Tips for lowering New Iberia home insurance costs
The cost of homeowners insurance in New Iberia can be disconcerting for many, but you may be able to get discounts. Our customers have seen reduced premiums when they:
You can also save money on home insurance when you increase your deductible. However, you want to choose a deductible that you’re comfortable paying in a claim. Policies from Kin have the following options for both the standard deductible and the hurricane deductible:
- $500
- $1,000
- $2,500
- $5,000
- $7,500
- $10,000
- Or 1%, 2%, 3%, 4%, 5%, or 10% of Coverage A
If you have any questions about getting insured in New Iberia or would like a quote, enter your address or call us at 855-717-0022.
*Kin is Kin Insurance Network Distributor, LLC, a licensed surplus lines producer.
