Best Homeowners Insurance Companies In Louisiana

State Farm offers the best homeowners insurance in Louisiana.

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Updated: 04 February 2024
Written by
Bob Phillips
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Anyone living in Louisiana is familiar with the sometimes challenging weather throughout the seasons. As a subtropical climate, the summer months are accompanied by high heat and humidity. Homeowners in Louisiana need adequate insurance coverage to protect themselves from the cost of damage and destruction due to the extreme weather.

You need an insurer that will protect you from the expenses associated with damage to your home and property as a result of inclement weather. After conducting research, and based on my firsthand experience, I have found that State Farm stands out as the best home insurance company overall. However, I encourage you to read about the other home insurance companies in Louisiana that we have reviewed and make your own informed decision.

Best Home Insurance Companies In Louisiana, 2024

Best Home Insurance, Louisiana, 2024

Compare The Best Home Insurance Companies In Louisiana

Overall Rating Best For A.M Best Rating J.D Power Rating Online Experience Get A Quote
State Farm
4.9

Best Overall

A++

829

9/10

Instant Quote
Nationwide
4.6

Coverage Options

A+

815

8/10

Instant Quote
Farmers
4.4

Policy Perks

A++

792

9/10

Instant Quote
Allstate
4.4

Discounts

A+

816

9/10

Instant Quote
Chubb
4.8

Cheap Rates

A+

809

7/10

Instant Quote
Scroll to see comparisons

Our Methodology

Our methodology, when determining which is the overall best home and property insurer in Louisiana, is to base our choice on objective ratings and reviews of each company in the running for Number One. We look at data from J.D. Power of a company's customer satisfaction. We turn to AM Best for its determination of an insurer's strength financially. Besides those important stats, we also check out feedback from consumers and my personal experience with home insurance in Louisiana.

58

Quotes Analyzed

17

Brands Reviewed

15+

Years Of Expereience

30+

Research Hours

Best Home Insurance Companies In Louisiana


Best Overall

Overall Rating
4.9

Key Statistics

10/10 Affordability
9/10 Customer Reviews
9/10 Claims
10/10 Coverage Level

Why We Like Them

Our pick for the best homeowners coverage in Louisiana is State Farm. This insurer boasts a “Best” rating of A++ from AM Best for being strong financially.  J.D. Power gives State Farm a high rating of (829/1000) which they base on multiple positive reviews left online by satisfied policyholders. This company also has a lot of neighborhood offices with agents in the state, always a plus.

With State Farm’s standard homeowners insurance, you’ll get the benefit of coverage not currently offered by most other insurers. Reimbursement if you’re a victim of credit or debit card fraud, for example, or if you’re a member of an HOA and have a problem with an ordinance or law coverage to be in compliance with strict codes. Other coverage is available as well. You should note that AM Best gives State Farm insurance the highest possible financial strength rating of A++.

If you have unique insurance needs, you’re able to customize your coverage options with State Farm. Options such as their Better Roof Replacement pays for an upgrade of your roofing materials should you require a new roof after a covered event.

Brand New Belongings is yet another option with State Farm homeowners insurance. If your personal belongings are destroyed or damaged, you’ll receive their replacement cost for the depreciated value. You just buy replacements for whatever was lost, and you’ll be reimbursed the cost less depreciation after sending receipts to State Farm.

Starting the process of purchasing insurance from State Farm is easy as you can take the first steps online. But to purchase a State Farm policy, you will need to meet with one of their local agents. Policyholders are able to access their insurance accounts easily by using the app or website. You’ll find online tools to enroll in paperless billing or file a claim. As an added perk, the State Farm website provides a helpful way for customers to learn about insurance, with an online resource library.

Benefits & Drawbacks

Benefits
  • High rating from AM Best in financial strength
  • Numerous high quality coverage options
  • Many local service, sales agents and offices
Drawbacks
  • You are unable to purchase State Farm insurance from independent agents

Best Coverage Options

Overall Rating
4.6

Key Statistics

8/10 Affordability
6/10 Customer Reviews
9/10 Claims
9/10 Coverage Level

Why We Like Them

Nationwide is rated A+ (Superior) by AM Best for its strong financial standing and stability. The company rates a bit low in customer satisfaction based on multiple negative reviews left by policyholders online. The company has numerous agents in Louisiana, with many neighborhood offices.

Nationwide’s standard homeowners insurance policy, allows you to enjoy coverage options not commonly offered by other insurers. Reimbursement for credit card fraud, for instance, as well as ordinance or legal coverage if you have to rebuild and must comply with stricter  codes.

Better Roof Replacement is an option that might interest you. It pays for upgrading your  roofing materials if they have to be replaced after a qualified event.

Brand New Belongings is yet another option. It pays the replacement cost for your valuables and personal belongings. You will be reimbursed for the depreciated values in the event that  your items are destroyed or damaged. Then just purchase replacements, and send the receipts to Nationwide, and you’ll be reimbursed for the difference in cost.

Benefits & Drawbacks

Benefits
  • Many high-quality options for coverage
  • High AM Best rating for financial security
  • Numerous agents and offices locally for sales and service
Drawbacks
  • Multiple negative online customer reviews
  • No coverage for short term rentals like Airbnb

Best For Policy Perks

Overall Rating
4.4

Key Statistics

9/10 Affordability
6/10 Customer Reviews
7/10 Claims
9/10 Coverage Level

Why We Like Them

Farmers insurance doesn’t just rank highest for the perks it gives customers, but it also earns a high score for customers “Online Experience” due to how thoroughly it explains these discounts and perks to existing customers, along with those who are shopping for home insurance. Here are a few of the home insurance perks offered by Farmers:

  • Replacement Cost Guaranteed: Regardless of the cost, Farmers insurance will pay the price in full should you need to rebuild your home
  • Deductible Decline: You can earn $50 to cover your homeowners insurance deductible every year that your homeowners policy is in force
  • Multi Line Policies: Bundle and save up to 34% if you buy more than one coverage type
  • Discount if Claim-Free: If you haven’t filed a claim in 3 years, you can receive a discount on your homeowners policy cost.
  • Claim Forgiveness: your premiums won’t be raised because of a claim once you’ve gone claim-free with Farmers for five years.

Farmers insurance company overall has a high 9.3/10 score. This score is a reflection of its low J.D. Power satisfaction ratings from customers for policy holder service.

Benefits & Drawbacks

Benefits
  • Numerous Farmers agents are located in Louisiana
  • More than 12 discounts available
  • Guaranteed replacement cost is standard in all homeowners policies
Drawbacks
  • Customer satisfaction ratings are below average score from J.D. Powers

Best For Discounts

Overall Rating
4.7

Key Statistics

8/10 Affordability
7/10 Customer Reviews
8/10 Claims
8/10 Coverage Level

Why We Like Them

Allstate offers eleven homeowners insurance discounts. Since the home insurance industry has an average number of policy discounts of seven, this is an attractive statistic. Homeowners insurance analysts, myself included, believe that some of Allstate’s many discounts are unique.

Allstate’s discounts include:

  • Claims Free: If you file no claims during the year, you can save five percent when you renew your policy
  • Bundle: Bundle your auto and home insurance and save as much as 25%
  • Loyalty: When you renew your coverage with Allstate, you get up to a 10% discount
  • Deductible Reward: You receive $100 off your deductible at sign-up
  • Claims Forgiveness: This provides you with added coverage without an increase in rates after filing a claim
  • Protective Device: If you install fire and theft protection, you receive a discount
  • Responsible Payment: Good payment history receives a discount
  • Automatic Payment: Choose auto-pay and save up to 5% on your premium
  • New Home: New constructed homes receive a discount
  • New Home Buyer: Recent homebuyers receive a discount
  • Early Payment: If you purchase a new policy at least a week before your renewal, you receive a discount of up to ten percent

The insurance industry has an average of 5 optional types of coverage. Allstate tops that with 9 types of optional coverage for home insurance. Along with the more common options such as scheduled personal property and ID theft; Allstate also provides coverage for more personalized options for homeowners with yards and gardens. This helpful option raises the coverage limits incurred if you have to repair or replace lawn and garden things like riding mowers and landscaping.

Benefits & Drawbacks

Benefits
  • Lots of local agents and claims adjusters
  • Strong and stable financially
  • Nearly double the industry average in discounts
Drawbacks
  • More customer complaints than the industry average

Best For Cheapest Coverage

Overall Rating
4.8

Key Statistics

10/10 Affordability
9/10 Customer Reviews
9/10 Claims
8/10 Coverage Level

Why We Like Them

Chubb has the lowest price homeowners insurance in Louisiana with an average insurance policy price of $1,362 per year. This is $1,170 less than the average premium statewide.

Don’t mistake their lower cost for lower quality coverage, though. This insurer offers the best homeowners insurance rates in the state along with high quality customer service, coverage  of high end homes, and exceptional financial strength. When you insure with Chubb, you’ll receive affordable premiums plus coverage providing extended replacement cost to replace  or repair your property, even if it’s not worth the price you paid for it originally.

Benefits & Drawbacks

Benefits
  • Rates are cheapest in the state
  • High-value homes have coverage with customized packages
  • Broad range of options that allow you to customize coverage to fit your personalized needs
Drawbacks
  • No quotes are available online
  • No personal property schedule

How To Find The Best Home Insurance Company For You

If you’re searching for the right home insurance company in Louisiana, it will take a bit of your time and some effort, but this investment will be worth it. In all likelihood, your home is the most valuable asset you have. So protecting your home and property by safeguarding from loss will contribute to financial security for you and your family in the long run.

Follow these 5 simple steps to find the best policy for your needs:

  1. Research online to learn about homeowner insurance companies in Louisiana, then  narrow your choices down to the 3 insurers you feel are best for you
  2. Determine the coverage limits you need. You might require an agent to help you with this
  3. Get quotes  from the 3 insurers for your required coverage
  4. Select a carrier, basing your decision on customer reviews, coverage, rates, and financial strength
  5. Apply for coverage

You may be able to get quotes and complete your application online, but some companies  have the requirement of speaking with an agent.

Average Cost Of Home Insurance In Louisiana

Cheapest Home Insurance In Louisiana

Insurer Annual Rate
State Farm $1,184
Allstate $1,342
Louisiana Average Rate $1,678
Farmers $2,640
USAA $1,953
The Hanover $1,886

Cheapest Cities For Homeowners Insurance In Louisiana

City Annual Rate
Lafayette $1,334
Homer $1,309
Alexandria $1,379
Baton Rouge $1,509
Monroe $1,430

 Most Expensive Cities For Homeowners Insurance In Louisiana

City Annual Rate
Grand Isle $3,089
Kenner $2,502
New Orleans $2,430
Bayou Cane $2,240

Home Insurance Premiums By Deductible In Louisiana

Deductible Average Annual Rate
$500 $3,089
$1,000 $2,420
$1,500 $2,295
$2,000 $2,188
$5,000 $2,010

 Home Insurance Prices By Coverage Level In Louisiana

Coverage Level Average Annual Rate
$100,000 Dwelling $1,326
$200,000 Dwelling $2,146
$250,000 Dwelling $3,044
$400,000 Dwelling $3,756

How To Get An Online Home Insurance Quote In Louisiana

It has never been any easier to research home insurance, select the insurer that best suits your needs, and then get a quote. Just follow these 3 easy steps:

  1. Answer questions on your quote form about your home, its value and contents, your home’s age, its square feet, the composition of its exterior, zip code,  and all other information requested
  2. Submit the form and get quotes
  3. Choose the insurer that is best for you and finish completing an application for coverage

If you run across one or more home insurance companies that don’t allow online quotes, you’ll have to contact an agent or broker in your area that represents these insurers.

Factors That Impact Cost Of Your Home Insurance Policy In Louisiana

Many factors determine the cost of home insurance in Louisiana, including:

  • The age of the home – Homes more than thirty years old may be up to 75% more expensive compared to newer homes, due to more recent stringent codes making it more costly to rebuild
  • The zip code (location) of the home – If your home is in a zip code that’s subject to extreme weather like hurricanes, tornadoes or hail, your rates will be higher than average
  • Your claim history – Insurance companies will impose higher rates if you have filled homeowner claims in the past
  • Deductibles and amount of coverage : The lower your deductible, the higher your rates. So you’d be well advised to choose a higher deductible that will save you money on your insurance premium. The more expensive your home, the more its replacement cost, and the more your insurance company will charge you
  • Close to flood zones – lf your home is close to any of the numerous lakes in Louisiana or along the Gulf Coast, you have a much higher chance of filing claims for  flooding

Louisiana Home Insurance Laws To Know

The law requires that any homeowner who has a mortgage on their property must have homeowner’s insurance. Dwelling coverage limits in Louisiana depend on the value of your home. Another essential law to understand as a Louisiana homeowner is the state’s Valued Policy Law.

This law states that in case of a total loss of your home, your insurance company must pay the policy limit, regardless of the actual value of your home.

For example, let us say you have a homeowner’s insurance policy that covers up to $500,000 for dwelling coverage. In the case of a total loss, your insurance company must pay you the full $500,000, even if your home was worth less than this amount.

A requirement of Louisiana law is that insurers charge rates that are reasonable, fair, and adequate for covered risks. The state of Louisiana does not approve rates in advance. However, if it discovers that an insurer’s rates are higher than they should be, it may require the insurer to refund policyholders who were overcharged.

Home Insurance Discounts In Louisiana

When purchasing a homeowners policy in Louisiana, be sure to ask the agent about what  discounts are available that will decrease the cost of your premium. In many cases, you can receive multiple discounts on your policy, including:

  • Bundle: Some insurers will give you as much as a 25% discount if you bundle your other insurance with them, like having them insure your vehicles as well as your home.
  • Claims Free: Some companies will give you a discount on your premium if you haven’t filed any claims in a year
  • Automatic Payment: You can usually receive a discount if you use auto-pay and have your insurance premiums deducted from your bank account automatically
  • Early Payment: With some insurers, purchasing a new policy at last a week before the old one expires will net you a discounted premium
  • New Home: If your home is newly built, you might be eligible for a discount
  • Responsible Payment: Paying on time and having a good payment history will often score a discount for you on your premium

The Most Affordable Areas For Homeowners Insurance In Louisiana

Homeowners insurance in Louisiana varies by ZIP code. It may range from a low of $1,334 in Lafayette, in zip code 70501, to as much as $2,402 in Metairie, zip code 70001. The lowest rates according to zip codes are:

ZIP Code City Annual Rate
71357 Newellton $1,018
71238 Jackson Parish $1,496
70501 Lafayette $1,334
71011 St. Bernard $1,821

FAQs

Is home insurance more expensive in Louisiana?

The answer is yes, homeowners insurance in the state of Louisiana costs more than it does in numerous other states in the US. With well developed and heavily populated areas lying along the Gulf of Mexico, home insurers have paid out billions of dollars in claims just as a result of one hurricane.  These huge claims paid result in higher premiums for many people who call Louisiana home.

How much per month is a million-dollar home insurance policy in Louisiana?

Rates are different depending on the insurer, but two carriers with the lowest home insurance rates in Louisiana are State Farm at $1,184 a year and Allstate at $1,342 a year.

What is the average monthly cost of home insurance in Louisiana?

Rates will depend on the value of your home, property and belongings, as well as where in Louisiana you live. The average home with a value of $250,000 generally costs about $2,465 per year.

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