Best Homeowners Insurance in Louisiana (2024)
- Expertise: Auto insurance, home insurance and renters insurance
- Education: Sonoma State University (BA in English)
Aaron Besson has worked at LendingTree for more than seven years and has been a staff writer for the last five years. He specializes in producing research-backed content about auto, home and renters insurance. Aaron enjoys the deep dig into insurance data to get the right answers to hard questions. His work has been cited by CBS, iHeart Radio, the Sacramento Bee and Yahoo.
State Farm has the best homeowners insurance rates in Louisiana, at an average of $1,274 a year.
Hanover is the home insurance company with the best complaint index rating, and USAA is the best company for members of the Armed Forces.
Louisiana’s cheapest home insurance companies
State Farm has the cheapest home insurance for most homeowners in Louisiana, with an average annual rate of $1,274. Progressive is the second-cheapest option at $1,865 a month.
For comparison, the average rate for home insurance in Louisiana is $4,033 a year.
Cheapest home insurance companies in Louisiana
| Company | Average annual rate |
|---|---|
| State Farm | $1,274 |
| Progressive | $1,865 |
| Shelter | $3,084 |
| Allstate | $3,962 |
| State average | $4,033 |
| Hanover | $5,769 |
| Foremost | $8,708 |
| USAA* | $3,589 |
Best homeowners insurance companies in Louisiana
State Farm, Allstate, Hanover and USAA are the best home insurance companies in Louisiana.
| Company | Annual rate | Overall satisfaction (higher is better) | Complaint index (lower is better) |
|---|---|---|---|
| Best overall: State Farm | $1,274 | 873 (above average) | 1.69 (poor) |
| Best discounts: Allstate | $3,962 | 868 (average) | 3.08 (poor) |
| Best complaint rating: Hanover | $5,772 | NA | 0.57 (good) |
| Best for military: USAA* | $3,589 | 899 (above average) | 2.26 (poor) |
Sources: J.D. Power’s 2024 Property Claims Satisfaction Study and 2022 complaint data from the National Association of Insurance Commissioners (NAIC).
Best overall: State Farm
State Farm is the cheapest home insurance company in Louisiana, charging an average rate of $1,274 a year. It also has a great overall satisfaction rating with property claims, according to J.D. Power’s 2024 Property Claims Satisfaction Study.
A potential downside to State Farm is its below-average NAIC Complaint Index rating; however, that may be expected from a company of its size.
| Pros | Cons |
|---|---|
| Cheapest average rate for most homeowners | Below-average complaint index rating |
| High property claims satisfaction rating | Low number of home insurance discounts |
Allstate: Best discounts
Allstate’s average annual rate in Louisiana of $3,962 a year is just under the state average, but you may be able to make it cheaper with one or more of the company’s many discounts. These include:
- Multi-policy discount: Bundling a car or life insurance policy with your home insurance through Allstate can save you up to 20% on your insurance costs.
- Claim-free discount: If you sign on with Allstate with no recent claims on your record, you could save up to 20%.
| Pros | Cons |
|---|---|
| Great discounts | Below-average complaint index rating |
| Below-average rates in Louisiana | No extended replacement cost coverage |
| Good overall claim satisfaction | |
| No banned dog list |
Best complaint rating: Hanover
Hanover has the best NAIC Complaint Index rating of the home insurance companies we looked at in Louisiana. It currently stands at 0.57, with the average complaint index being 1.0.
| Pros | Cons |
|---|---|
| Great discounts | High average premiums |
| Good overall complaint index rating |
Best for military members: USAA
USAA has policy offerings aimed at active-duty and veteran military members. This includes personal property coverage due to wartime damage, which home insurance doesn’t usually cover.
| Pros | Cons |
|---|---|
| Active-duty service members get coverage for military equipment and uniforms | You might get a different agent every time you call |
| Personal property coverage is at replacement cost | Only current and veteran military and their families can buy insurance from USAA |
| Excellent overall satisfaction | Below-average complaint index rating |
Louisiana home insurance rates by coverage amounts
The dwelling coverage limit you choose for your home insurance affects your premium. For example, there’s a $1,054 difference between a $350,000 and a $450,000 home insurance policy in Louisiana.
Home insurance cost by dwelling coverage limit
| Dwelling limit | Average annual rate |
|---|---|
| $350,000 | $3,510 |
| $400,000 | $4,033 |
| $450,000 | $4,564 |
When choosing your dwelling coverage limit, make it equal to the replacement value cost of your house in the event of a total loss. Replacement cost reflects the house by itself, not the ground it’s built on.
Cost of home insurance in Louisiana
The average cost of home insurance in Louisiana is $4,033 a year. This is 44% higher than the national average of $2,801.
A major reason for Louisiana’s high home insurance costs is that a lot of floods impact the state’s homeowners each year.
Several other factors determine what you pay for a home insurance policy, too, including:
- The age of the house
- Construction materials
- ZIP code
- Your claim history
- The coverage limits and deductible you choose
- Discounts you qualify for
Home insurance companies tend to have similar policy offerings, so why the difference in policy costs? This is because home insurance companies weigh risk factors differently. For example, one insurer may see the age of your home as more of a risk than another company, resulting in a higher quote.
To get the coverage you want at the cheapest price, compare home insurance quotes from several companies.
Louisiana home insurance rates by city
Of Louisiana’s 15 biggest cities, Bossier City has the cheapest average rate for home insurance, at $2,786 a year. Kenner has the highest rate, which averages $6,355.
Average rate by city
| City | Average annual rate |
|---|---|
| Alexandria | $2,895 |
| Baton Rouge | $3,847 |
| Bossier City | $2,786 |
| Central | $3,831 |
| Houma | $5,382 |
| Kenner | $6,355 |
| Lafayette | $3,980 |
| Lake Charles | $4,501 |
| Laplace | $5,176 |
| Marrero | $5,235 |
| Metairie | $6,202 |
| Monroe | $2,959 |
| New Orleans | $5,965 |
| Prairieville | $3,957 |
| Shreveport | $2,913 |
Flood insurance in Louisiana
Flood insurance isn’t legally required in Louisiana. However, if you financed your home and live in a Federal Emergency Management Agency or FEMA-designated high-risk flood zone, your lender will likely require you to carry it as part of your mortgage agreement.
Flood damage isn’t covered by any home insurance policy. You can buy it separately, though. The average cost of flood insurance in Louisiana is $814 a year. You can get a policy through insurance companies affiliated with the National Flood Insurance Program (NFIP), or some private insurers in Louisiana.
Methodology
The rates shown in this article are based on non-binding quotes collected from Quadrant Information Services. Your rates may vary. Average rates were compiled from rates in Louisiana. The following coverages and deductible were used unless otherwise noted:
- $400,000 dwelling coverage
- $40,000 other structures
- $200,000 personal property
- $80,000 loss of use coverage
- $100,000 liability
- $5,000 medical payments
- $1,000 deductible
*USAA is only available to active-duty and veteran military members and their families.