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The Best Cheap Louisiana Homeowners Insurance

Updated
Dana George
By: Dana George
Dana George
Dana George
Writer

Dana George has a BA in Management and Organization Development from Spring Arbor University. For more than 25 years, she has written and reported on business and finance, and she's still passionate about her work. Dana and her husband recently moved to Champaign, Illinois, home of the Fighting Illini. And though she finds the color orange unflattering on most people, she thinks they'll enjoy Champaign tremendously.

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If you've ever shopped for homeowners insurance, you know how confusing the options can be. Still, it's important to find a homeowners insurance policy comprehensive enough to protect you from financial peril no matter what happens. We’ll help you identify the best homeowners insurance in Louisiana, tell you which companies offer the cheapest policies in the state, and outline key factors to look for in a Louisiana home insurance policy.

  • Cheapest overall for Louisiana: UPC Insurance
  • Cheapest for new home construction: UPC Insurance
  • Cheapest for older homes: UPC Insurance
  • Cheapest for homeowners who have filed a claim: UPC Insurance

Cheapest overall for Louisiana

Louisiana homeowners insurance is not among the most expensive in the nation, but it's not among the cheapest, either. In fact, homeowners coverage can get expensive in the Bayou State. Here are three companies that offer cheap homeowners insurance in Louisiana:

  • UPC Insurance, with an average annual rate of $740
  • Progressive, coming in at an average rate of $929
  • Bankers Insurance Group, with an average annual rate of $1,328

Cheapest for new home construction

There are many exciting things about moving into a new home. One thing that surprises many new homeowners is that they don't have to pay as much for homeowners insurance as they may have expected. Insurance companies see new homes as low-risk, and don't expect to have to pay out claims soon. They pass the savings on to the homeowner in the way of lower insurance premiums. Here are the three lowest-cost Louisiana home insurance providers for newly built homes:

  • UPC Insurance, offering an average annual rate of $310
  • Progressive, with an average annual rate of $381
  • Bankers Insurance Group, with an average annual rate of $542

Cheapest for older homes

If you look around the state, you'll likely find neighborhood after neighborhood of lovely older homes. These homes are full of history and character -- however, they are more likely to have issues like mold, leaks, and old roofs. For that reason, an older house can cost a bit more to insure. Here are three insurers that have kept insurance prices low:

  • UPC Insurance, with an average annual rate of $664
  • Progressive, offering an average annual rate of $917
  • Bankers Insurance Group, with an average annual rate of $1,323

Cheapest when you've made a claim

When peril hits, having the right insurance policy is vital. It could be all that stands between the homeowner and financial ruin. Still, after a claim, a homeowner may have to pay a higher insurance premium for a time. For a Louisiana homeowner who has made a claim, these three insurance companies offer the lowest rates in the state:

  • UPC Insurance, with a forgiving rate of $964
  • Progressive, coming in with an average annual rate of $1,100
  • Bankers Insurance Group, offering an average annual rate of $1,702

Average home insurance cost in Louisiana compared to the national average

The average cost of homeowners insurance in Louisiana is $2,643, nearly 35% higher than the national average of $1,725.

Average Rate Category Louisiana National Average
Overall $2,643 $1,725
New home construction $1,630 $943
Older homes $2,581 $1,658
When making a claim $2,706 $1,803
Source: Quadrant Information Services data

Louisiana homeowners insurance overview

The best homeowners insurance in Louisiana is a nice blend of low price, comprehensive coverage, and great customer service. To find that blend, it helps to understand the types of homeowners insurance, and how to land discounts that keep premiums manageable.

The types of homeowners coverage

Homeowners coverage is never a one-size-fits-all proposition. Most insurance companies offer eight types of policies, six of which are designed for owners of traditional (non-mobile) homes. These policies range from basic coverage to policies with all the bells and whistles, and the prices vary accordingly. The best homeowners insurance companies offer them all.

Level of coverage

While it's true that a basic policy is better than none, a bare-bones policy may not fully cover all losses. The best move for any homeowner is to shop around to locate the most comprehensive coverage they can afford.

Amount of deductible

A homeowner who makes a claim is typically on the hook to pay a deductible toward the cost of repair or replacement. Let's say there’s a garage fire, and the cost of repair is $12,000. If there’s a $500 deductible on the policy, the homeowner pays the contractor $500, and the insurance company covers the remaining $11,500. The lower the homeowner’s deductible, the higher the policy premium. One way to keep premium costs down is to choose a higher deductible.

Potential discounts

One of the easiest ways to land cheap homeowners insurance in Louisiana is to take advantage of insurance company discounts. Before deciding which policy is best, it pays to know how much each policy costs after discounts are factored in. Most insurance companies offer home insurance discounts. These discounts run from whether the homeowner is a smoker to whether there's a smoke alarm on the premises.

What are the most common homeowners insurance claims in Louisiana?

Identifying the most common Louisiana home insurance claims can help a homeowner build a policy that makes them more secure.

Windstorms

Windstorms can happen anywhere, and Louisiana is no exception. Even when they're not associated with a hurricane, strong winds can lead to expensive damage to a home. Many losses -- from a fence blowing down in the backyard to shingles getting torn from the roof -- can be attributed to wind damage.

Lightning strikes and fire

Nationally, lightning strikes and fire accounted for 25% of all homeowners insurance claims in 2019. And it's clear that Louisiana gets more than its fair share of thunderstorms, complete with lightning. Fires are not the top claim in the state, but are one of the most expensive issues insurance companies deal with.

Flooding

The price of living in a state as lush as Louisiana is the potential for flooding. Whether a flood is caused by weather conditions or a leaking kitchen appliance, it's good to have the proper insurance rider to cover it.

Homeowners insurance coverage options and discounts in Louisiana

The best homeowners insurance in Louisiana combines great coverage with a low price.

Coverage options

Here's how the eight types of homeowners insurance break down. The type a homeowner purchases depends on two things: the type of dwelling they need to cover, and the level of coverage they seek.

  • One type covers renters.
  • Another covers mobile homes only.
  • The other six range from basic coverage to extensive protection.

A comprehensive policy may also include coverage for luxuries such as theater rooms, wine cellars, upgraded building materials, and inlaid wood floors. A homeowner can also buy coverage for valuable items like rare coins, fine art, or expensive jewelry.

Discount options

One trick to finding inexpensive homeowners insurance in Louisiana is to claim as many discounts as possible. Options vary by insurance company. Here's a sampling of the most common discounts:

  • Installing a burglar alarm saves an average of 11%.
  • Having a fire alarm saves an average of 8%.
  • Upgrading the electrical system saves an average of 8%.
  • A roof upgrade saves an average of 10%.
  • Bundling home and auto coverage can save a whopping 16%.

5 cheapest cities in Louisiana for homeowners insurance

Insurance companies take a list of factors into account as they determine premiums. The list includes things like:

  • Area crime rate
  • Value of surrounding property
  • Cost to rebuild
  • How far a home is from a fire station

Here are the five cheapest cities in Louisiana for homeowners insurance:

City Name Average Home Insurance Rate
Ruston $1,781
Grambling $1,794
Simsboro $1,801
Delta $1,805
Tallulah $1,809
Source: Quadrant Information Services data

5 most expensive cities in Louisiana for homeowners insurance

Here are the five most expensive cities in the Bayou State for homeowners insurance:

City Name Average Home Insurance Rate
Buras $6,632
Pilottown $6,486
Grand Isle $6,480
Venice $6,476
Lafitte $6,174
Source: Quadrant Information Services data

The best homeowners insurance in Louisiana hits the sweet spot -- it provides enough coverage to make a homeowner feel secure, knowing their property will be repaired or rebuilt in the event of damage. It also comes with a premium low enough to make the homeowner feel as if they found a bargain.