Average Cost of Homeowners Insurance in Louisiana (2024)

The average cost of homeowners insurance in Louisiana in 2024 is $4,031. This figure is $1,608 more than the national average of $2,423.

Aside from coverage amount, the insurance provider has the largest impact on premiums, with the difference between the lowest and highest premiums reaching $8,076 on average. If your rates have increased, our analysis of the cheapest home insurance in Louisiana may help you find more affordable options.

In Louisiana, the average annual premium for homeowners insurance with $250K in dwelling coverage, $125K in personal property coverage and $200K liability coverage is $4,031. This rate is more than the national average of $2,423.

Understanding how much coverage you need is key to protecting your home and possessions. A policy with $100K in dwelling coverage averages $1,961 annually in Louisiana. For a larger home requiring $500K in dwelling coverage, the average premium jumps to $7,682 per year.

Premiums for homeowners insurance in Louisiana can vary significantly among providers, even for similar coverage levels. For instance, while one insurer may quote a premium well below the state average, another might present a rate that exceeds it.

Louisiana homeowners looking to balance cost with quality will find value in reviewing the best homeowners insurance in Louisiana. Differences in underwriting criteria, such as the home's location and the insurer's risk assessment, contribute to these premium disparities.

Homeowners in Louisiana with poor credit scores pay an average annual premium of $7,519 for homeowners insurance, which is $3,488 more than the state average of $4,031. In contrast, those with excellent credit pay $3,577, which is $454 below the average.

While you may not be able to improve your credit score immediately, you can enhance it over time to reduce your rates. In the short term, comparing insurers can help find savings; it takes less than 15 minutes to see the most affordable Louisiana home insurers.

The type of roof on your home can influence your homeowners insurance premium in Louisiana. Materials like tile, which are more durable, can lead to lower premiums. However, the impact of roofing on insurance costs is relatively modest compared to other factors.

Similarly, the construction materials used in your home affect insurance rates. Homes built with materials that are more resistant to perils, such as fire, offer more favorable premiums. Like roofing, construction type is a less significant factor in determining insurance costs than coverage amount, credit rating and claims history.

Explore the table below to see how different materials can alter your home's insurance premiums.

Typically, insuring a newly constructed home in Louisiana costs less than covering an existing home. The average annual premium for new construction is $2,621, reflecting a $1,410 decrease from the $4,031 average for older homes. The table below details these premium differences across various coverage levels.

Louisiana homeowners who have maintained a claim-free record for five or more years pay an average annual premium of $4,031 for their homeowners insurance. In contrast, those with one claim in the past five years see their average premium rise to $4,631, a $600 increase from the baseline. Homeowners with two claims within the same period face an even steeper increase, with an average annual premium of $5,221, which is $1,190 above the average.

For the cities we analyzed, we found annual premiums ranged from $2,731 to $7,478. Baton Rouge and Shreveport feature lower premiums at $3,234 and $2,731, respectively, while Metairie sees a high of $7,478. Location influences insurance costs due to factors like crime rates, weather patterns and local building costs. Compared to other factors, location can significantly sway premiums, but it's just one piece of the puzzle.

Getting a great homeowners insurance deal in Louisiana is within reach. By exploring your options and understanding the factors that affect pricing, you can confidently find a policy that fits your budget. Here's how to find the best deal for you.

Homeowners can unlock savings by bundling home and auto insurance policies in Louisiana. You can save an average of 10% from a multipolicy bundle. The savings on the combined cost of auto and home insurance can range from $469 to $577 annually. This strategy simplifies your insurance management and provides a financial perk.

Louisiana residents can take advantage of several homeowners insurance discounts.

• Impact-resistant roofing discount for using material that can withstand severe weather.
• Home security system discount for installing equipment that enhances security against burglaries and damages.
• Loyalty discount for long-term policyholders.

Remember to inquire about specific discounts when obtaining a quote to maximize potential savings.

When exploring homeowners insurance in Louisiana, a wealth of resources is at your fingertips. Whether you're seeking official regulations, affordable coverage or tools to estimate your insurance costs, the following curated list provides essential links to guide you:

• Louisiana Department of Insurance: Official state resource for insurance regulations.
• Affordable Home Insurance in Louisiana: Find cost-effective options for your home.
• Louisiana Homeowners Insurance Calculator: Estimate your potential insurance costs.
• High-Risk Home Insurance Coverage: Understand insurance for homes in high-risk areas.
• Top Home Insurance Options in Louisiana: Compare the best insurance providers.
• Personal Property Coverage Essentials: Guide to personal property insurance needs.
• Report Insurance Fraud: Online system for reporting insurance fraud.