New Orleans Home Insurance

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If there’s one thing New Orleans knows how to do it’s to celebrate. Whether it’s Mardi Gras or just a regular Saturday night, people in the Big Easy know how to let the good times roll. But New Orleans has also seen its share of hard days with all of its 153,819 households potentially in the path of devastating hurricanes.

This is why having the right Louisiana home insurance is so important for residents; you need coverage for when the worst-case scenarios become realities. Because of its risk and below-sea-level elevation, homeowners insurance in New Orleans averages $4,970.

New Orleans Home Insurance Cost & Competitor Comparison

There’s a lot that goes into determining insurance rates and much of it revolves around risk. New Orleans happens to be in a high-risk zone due to the impact of hurricanes, tropical storms, and floods on the area. Add to that the city’s high property crime rate, and you can see why New Orleans home insurance rates are well above the national average.

While location plays a significant role in determining your rate, other factors can influence your costs, including how big your home is and the building materials used. Your claims history also affects your rate.

Every carrier weighs these factors differently, so the cost of homeowners insurance in New Orleans can vary quite a bit. Review the chart below to see just how much home insurance premiums vary by carrier.

Average New Orleans Home Insurance Rates by Provider

Company Average Premium
Kin $4,296
Access Voluntary $5,771
Southern Fidelity $6,066
Gulfstream $5,504

The limits you choose for your dwelling coverage also make a big difference in your premium. Consider the difference in costs between these three types of homes.

Average Premium by Coverage A Limits and Home Age

Coverage A (Dwelling) Amount Kin Average Premium
$150,000 Older Home $2,716
$200,000 Home $1,826
$300,000 New Home $1,466

What New Orleans Home Insurance Covers

The policies we offer in New Orleans can provide the following coverage:

  • Replacement-cost dwelling coverage: Helps you repair or rebuild your home after a covered claim.
  • Other structures coverage: Protects other structures on your property like your shed or garage.
  • Personal property coverage: Covers personal belongings in the home, such as your furniture, clothing, appliances, and more.
  • Loss of use coverage: Helps pay for additional expenses such as hotel stays and food bills when you can’t stay in your home during a claim.
  • Personal liability coverage: Covers legal expenses and settlements if you’re sued for another person’s injuries or property damage.
  • Medical payments coverage: Pays for minor medical bills if visitors are hurt on your property.

With the risk of hurricanes in the area, you’ll be glad to know the policies we offer include coverage for damage caused by hurricane winds. Just note that if a named storm hits New Orleans, your hurricane deductible applies.

However, the storm surge that follows a hurricane requires flood insurance. You can add a low-cost flood insurance endorsement to your policy to better protect your home.

New Orleans Unique Risks

Most of New Orleans’ unique risks are due to its geography. It has to contend with the Mississippi River and Lake Pontchartrain on its north flank. Moreover, about half of the city is below sea level. Altogether, this means New Orleans has serious flood risk with large swaths of the city sitting in Flood Zone A.

New Orleans also sits in a precarious spot on the Gulf of Mexico where it is often the target of major hurricanes. Hurricane Katrina devastated the region in 2005, and five named storms hit the city in 2020, including Laura, Delta, and Zeta.

Another risk that comes with living near bayous is the possibility of sinkholes.These can happen at any time but often occur after the ground that has been saturated by a heavy rain or some type of flooding erodes and dissolves.

Tips for Lowering New Orleans Home Insurance Costs

Looking for ways to lower your home insurance? We offer discounts and premium credits to New Orleans homeowners who:

The other way to save on homeowners insurance is to adjust your deductible. A higher deductible reduces your premium. If you do this, make sure you are comfortable with the amount that will pay out of pocket if you have a claim. We offer the following AOP and hurricane deductibles:

  • $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 Orleans or would like a quote, enter your address or call us at 855-717-0022.

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