Homeowners insurance policies provide coverage for the structure of your home and the belongings inside it, along with protection against liability claims. The This Old House Reviews Team put together this guide to help you find the best homeowners insurance policy in Louisiana. Keep reading to learn about home insurance coverage, cost, and the top home insurance companies in the industry.
Best Homeowners Insurance Companies in Louisiana
After comparing customer service, cost, benefits, and coverage, Liberty Mutual, Allstate, and Amica® stood out as the top home insurance companies for Louisiana homeowners.
1. Liberty Mutual
Liberty Mutual homeowners insurance is standard with dwelling coverage, a set percentage of dwelling for other structures, personal property, and loss of use coverage, and a few personal liability, medical payments, and deductible options. What sets Liberty Mutual apart is its variety of discounts commonly offered to homeowners to help keep insurance premiums affordable.
Here are a few additional Liberty Mutual perks:
- Over 100 years of experience in the insurance industry
- Online quote tool
- Endorsement coverage for natural disasters
Allstate offers the best protection for homeowners with valuable items. While Allstate caps its personal property coverage at 75% of dwelling coverage, you can purchase endorsements for more expensive items like jewelry, watches, furs, musical instruments, and sports equipment.
Take a look at some other Allstate benefits:
- 24/7 customer service
- More endorsements than Liberty Mutual and Amica
- Claim rate guard endorsement that prevents your premium from increasing after a claim
Amica has nearly 115 years of experience in the insurance industry—more than the other two providers listed in this review—and offers policies that include the six main types of home insurance coverage for under the national average of $101 per month.
Enjoy these other Amica perks:
- Catastrophic coverage endorsement for Louisiana hurricanes and floods
- Claims center open 24/7
- Liability coverage as low as $25,000 and as high as $1 million
Louisiana Homeowners Insurance Coverage
Home insurance in Louisiana provides six types of coverage, along with endorsements for extra protection:
- Dwelling—This part of your policy covers everything built into your home, like the cabinetry, electrical, and plumbing. If an event destroys your home, this part of your policy will pay to rebuild it.
- Other structures—This covers detached structures on your property, like a shed or fence. Your provider will pay to rebuild those structures if they’re damaged or destroyed. Other structures coverage is usually 10% of dwelling coverage.
- Personal property—If your personal belongings are damaged or destroyed, this part of your policy will pay to replace them. Personal property coverage also protects your items if they’re damaged on a trip or in your car. Most companies offer at least 50% of dwelling coverage for personal property coverage.
- Loss of use—If an event makes your home uninhabitable, your policy will pay for you to live elsewhere during repairs and cover anything that exceeds the normal amount you spend each month on living expenses. Loss of use coverage is usually 20% of dwelling coverage.
- Liability—If you cause bodily injury to another person or damage someone else’s property, your policy will pay for the medical bills, replacement costs, and legal fees if you’re sued. We recommend purchasing at least $300,000 of liability protection.
- Medical payments to others—If a guest is injured in your home, your policy will pay for a certain amount of their medical expenses. Most policies start with $1,000 of coverage per person.
- Endorsements/floaters—Insurance companies offer additional coverage options to help you fill out your protection. These vary by company, but common endorsements include coverage for jewelry, water backup, identity theft, and earthquakes.
How Much Does a Homeowners Insurance Policy Cost in Louisiana?
According to the Insurance Information Institute, a resource that helps people make educated decisions, manage risk, and appreciate the essential value of insurance, Louisiana had the highest homeowners insurance rates in the country in 2017, with most insurance companies charging around $164 per month. This is more than the industry average cost at the time of $101 per month.
Note: The total cost of your Louisiana home insurance policy will depend on where you live in the state, what type of coverage you choose, how many claims you’ve filed in the past, and a variety of other factors. We recommend getting quotes from a few different home insurance providers to help you compare pricing and coverage details.
Factors to Consider Before Buying Homeowners Insurance
Before buying a home insurance policy in Louisiana, consider these factors:
- Natural disasters—Because Louisiana is at a high risk for flooding and hurricanes, you may want to add an endorsement to protect against these events or purchase a separate insurance policy. Note: most insurance policies won’t cover natural disasters in their base policies.
- Home characteristics—When you request a quote, the insurance company may ask you basic questions about your home, like how many bedrooms and bathrooms you have. These characteristics will determine how much your policy costs.
- Payments—While most homeowners pay for their policy on a monthly basis, they end up paying more each year because every payment has interest tacked onto it. Consider paying for your policy in larger amounts (once, twice, or four times a year) to help lower the cost of your premium.
Safety features—Most insurance companies offer a “safe home” discount for having home safety features like smoke detectors, security alarms, fire extinguishers, and deadbolt locks. If you don’t have these features in your home, consider installing them for extra protection and policy savings.
Compare Homeowners Insurance Coverage Options
|Other structures coverage limits||10% of dwelling||10% of dwelling||10% of dwelling|
|Personal property coverage limits||70% of dwelling||60% or 75% of dwelling||75% of dwelling|
|Liability coverage limits||$100,000, $200,000, $300,000, or $500,000||$100,000, $200,000, $300,000, or $500,000||$25,000, $50,000, $100,000, $200,000, $300,000, $400,000, $500,000, $750,000, or $1 million|
|Unique add-ons||Water backup, sump overflow, hurricane||Musical instruments, yard and garden||Home business, catastrophic coverage|
|Customer service||24/7 for claims; limited for sales and service||24/7||24/7 for claims; limited for sales and service|
*Based on sample quotes our team received
FAQs About Homeowners Insurance in Louisiana
Why is Louisiana homeowners insurance so expensive?
The biggest reason for the high cost of home insurance is the state’s location. Louisiana is located on the Gulf of Mexico, and historically, this has led to widespread damage from tropical storms and hurricanes.
To save on your Louisiana home insurance policy, consider these tips:
- Look for discounts
- Install safety features in your home
- Maintain a good credit score (680–739)
- Choose a higher deductible
What other insurance products and services can I get from these companies?
In addition to home insurance, Liberty Mutual, Allstate, and Amica offer renters, life, condo, pet, and auto insurance policies. If you bundle any of these policies with your home insurance, you may be eligible for a discount.
What is an underwriting company?
Some insurance companies don’t provide their own insurance policies; instead, they use another company’s policies and act as a third party to provide these policies to their customers. For example, Geico uses home insurance policies from Liberty Mutual.
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