Cheapest & Best Renters Insurance In New Orleans 2025
If you’re renting in New Orleans, LA, State Farm has the cheapest renters insurance, averaging around $10 a month. Still, when it comes to overall value and coverage, The Hanover stands out as the top pick in the area.
We’ve saved shoppers an average of $200 per year on their renters insurance.
In New Orleans, LA, State Farm offers the lowest renters insurance rates, with an average cost of about $10 per month. On the other hand, The Hanover comes in at a higher price—around $15 monthly—but makes up for it with more comprehensive coverage and better overall service.
Known as The Big Easy, New Orleans experiences over 18,000 property crimes annually, impacting roughly 51 out of every 1,000 residents. With risks like theft and natural disasters, having renters insurance is a wise move to safeguard your personal belongings and provide financial protection and peace of mind.
Cheapest Renters Insurance Companies In New Orleans
If you’re trying to find cheap renters insurance in New Orleans, State Farm has the lowest rates, averaging about $10 per month. To help you weigh your options, here’s a comparison table featuring the five most affordable insurance providers in the area.
| Company | Average Monthly Cost |
| Farmers | $18 |
| State Farm | $10 |
| Shelter | $12 |
| The Hanover | $15 |
| Safeco | $17 |
Best Renters Insurance Companies In New Orleans
State Farm is a great choice for renters in New Orleans who want low-cost insurance. But keep in mind, the cheapest option isn’t always the most reliable when it comes to coverage and service. Personally, I’d recommend The Hanover as the best all-around provider. It offers a strong mix of coverage options and add-ons at reasonable prices. Plus, it’s known for outstanding customer service and has received high ratings from policyholders in the area.
| Company | Average Monthly Cost |
| Progressive | $29 |
| Gulfstream | $20 |
| The Hanover | $15 |
| USAA | $27 |
| Allstate | $34 |
Average Cost Of Renters Insurance In New Orleans
On average, renters in New Orleans pay about $23 each month—or $276 a year—for insurance coverage. However, your individual rate can vary based on things like how much coverage you choose, where you live, your deductible, and how each company sets its prices. To help you compare, the table below breaks down the average monthly rates from five top insurance providers in the city.
| Company | Average Monthly Cost |
| The Hanover | $18 |
| Progressive | $32 |
| State Farm | $14 |
| Gulfstream | $23 |
| USAA | $30 |
Average Cost Of Renters Insurance In New Orleans By Deductible
A deductible is the portion of a claim you’re responsible for paying before your renters insurance kicks in. Choosing a higher deductible can lower your monthly premium, while a lower deductible generally means you’ll pay more each month. The table below outlines how insurance rates in New Orleans change based on different deductible amounts.
| Deductible Amount | Average Monthly Cost |
| $250 | $23 |
| $500 | $22 |
| $1,000 | $20 |
| $1,500 | $19 |
| $2,000 | $18 |
Factors That Impact Renters Insurance Costs In New Orleans
Several factors can impact the cost of renters insurance in New Orleans:
Claim History: Having a record of multiple past claims can make you appear riskier to insurers, which may result in higher premiums.
Coverage Limits: More comprehensive policies or add-ons like identity theft protection and replacement cost coverage usually cost more.
Home Safety Features: Features like smoke detectors, sprinkler systems, and home security systems can lower risk and may help you qualify for discounts.
Credit Score: Insurance companies often take your credit score into account—lower scores can mean higher monthly rates.
Location: Living in neighborhoods prone to theft or natural disasters like hurricanes and storms can lead to increased insurance costs.
Deductible Amount: Going with a higher deductible can reduce your monthly payments, while a lower deductible tends to raise them since the insurer covers more upfront.
Common Causes Of Loss In Louisiana
Renters in Louisiana often deal with risks like theft, fire, water damage, storms, and flooding. Knowing which threats are most common can help you choose a renters insurance policy that truly protects your belongings and finances.
Fire
Fires can cause major damage, especially in apartment complexes where they can spread quickly. Renters insurance helps cover the cost of replacing your personal items lost in a fire.
Storms and Cyclones
Louisiana is no stranger to severe storms and tropical cyclones, which often bring strong winds and storm surges. The good news is that most standard renters insurance policies in New Orleans cover wind and storm damage.
Theft
With over 18,000 property crimes reported yearly in New Orleans, theft is a real concern. Renters insurance helps replace stolen items and may offer liability protection if someone is hurt during a break-in. Keep in mind—it won’t cover damage to your vehicle or the rental property itself.
Water Damage
Issues like burst pipes, plumbing leaks, or roof damage can lead to costly repairs. Most renters policies will cover water damage that happens inside the home, but they don’t include flooding from outside sources.
Floods
Flooding is a major risk in New Orleans, especially during heavy rain or after storm surges. Standard renters insurance won’t cover flood damage, so adding separate flood insurance is a smart move.
Other Covered Losses
Many policies also include protection for vandalism, some types of accidental damage, and specific natural disasters, giving you even more peace of mind.
By being aware of these common risks, renters can choose insurance that offers solid, well-rounded protection tailored to life in Louisiana.
Our Methodology
To evaluate renters insurance providers in New Orleans, we looked at several important factors—cost, coverage flexibility, claims experience, and customer service quality. We collected quotes from multiple insurers based on standard policies that include $20,000 in personal property coverage and $100,000 in liability protection.
We also examined deductible options, special coverage for risks like floods and earthquakes, and available discounts—especially for bundling renters and auto insurance. Customer satisfaction played a key role in our analysis, using ratings from trusted sources like J.D. Power and Consumer Reports to identify companies with strong service and smooth claims processes.
In addition, we considered risks specific to New Orleans, such as high theft rates and frequent water damage, which can influence both coverage needs and insurance costs. This comprehensive approach helped us create a balanced, informative comparison of renters insurance providers in Louisiana.
Quotes Analyzed
Brands Reviewed
Research Hours
Years Of Experience
About Bob Phillips
