Besthome insuranceLouisianaThe Best Homeowners Insurance Companies in Louisiana (2023)
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MoneyGeek analyzed the best insurance companies in Louisiana for a diverse group of homeowners. We evaluated the companies based on their available coverages and discounts.
State Farm ranked as the best home insurance provider overall, and it is also the best when it comes to affordability, customer service and expensive homes. State Farm and Allstate are the top insurers in terms of policy bundling. We excluded USAA because it is only available to members of the military.
MoneyGeek also analyzed the cheapest homeowners insurance providers in Louisiana for those more concerned with saving on their monthly bill.
Besthome insuranceLouisianaThe Best Homeowners Insurance in Louisiana
Best overall - State Farm
Best for service quality - State Farm
Best on a budget - State Farm
Best for expensive homes - State Farm
Best for veterans - USAA
Best for bundling - State Farm
The Best Overall Homeowners Insurance Companies in Louisiana
Homeowners insurance is not a legal obligation in Louisiana, but having insurance safeguards your home. MoneyGeek ranked insurers based on customer satisfaction, claims reputation, affordability and financial stability to find Louisiana's best insurance companies for homeowners.
The overall best-rated home insurance companies in Louisiana are:
- State Farm: MoneyGeek score of 88 out of 100
- Allstate: MoneyGeek score of 86 out of 100
USAA, which is only available to active or former military personnel and their families, is not included in this ranking. For those who qualify, USAA's rating is 95/100, making it the best in the state.
To ascertain why State Farm and Allstate are the top homeowners' insurers in Louisiana, MoneyGeek analyzed the specific coverages and discounts they offer.
The Top Home Insurance Companies in Louisiana
1
State Farm
Score:88
State Farm received a perfect five score for financial stability and affordability, in addition to a high customer satisfaction rating. Its home system protection coverage is noteworthy. State Farm home insurance costs an average of $901 per year in Louisiana.
More About State Farm
State Farm's rare add-on coverages include Home System Protection that protects you from damages to equipment like your heating and cooling systems. For HOA members, its Loss Assessment coverage covers your portion of a covered loss that the Homeowners Association assesses to its members. You can also choose mold coverage to $20,000.
Read MoneyGeek's State Farm home Insurance Review2
Allstate
Score:86
Allstate was ranked second overall in Louisiana, with an average annual rate of $1,024. It came in second place in terms of customer satisfaction, financial stability and affordability. Allstate's unique coverages, such as yard and garden, are noteworthy.
More About Allstate
Allstate’s Yard and Garden coverage is rare and increases the coverage limits for landscaping items like trees and lawn maintenance tools like lawn mowers. Its Energy Efficiency Update coverage helps you replace damaged covered items with more energy-efficient products. Another rare coverage is its add-on for mold coverage to protect your home against losses caused by mold and fungus.
Read MoneyGeek's Allstate home Insurance ReviewHOW WE DETERMINED THE BEST LOUISIANA HOME INSURANCE
MoneyGeek gathered quotes from insurers across the country and compared them to J.D. Power's property claims rating and customer satisfaction rankings. The evaluations were used to find the best home insurance policies nationally and in Louisiana.
However, your specific situation may impact your quotes and how you are treated as a customer. For additional details, check out MoneyGeek's methodology.
The Best Homeowners Companies in Louisiana for Service Quality
Some homeowners place a higher value on good customer service and a smooth insurance claim process than only the price of home insurance. That’s why MoneyGeek compiled a list of Louisiana's best home insurance companies based mainly on customer satisfaction and claims ratings.
Based on service quality, the best home insurance in Louisiana are :
- State Farm: MoneyGeek score of 81 out of 100
- Allstate: MoneyGeek score of 80 out of 100
USAA has a MoneyGeek score of 100 out of 100, making it the highest-scoring company in Louisiana. However, because it is exclusively available to military families, it is not included in our list of the state's best companies.
MoneyGeek also explains why State Farm and Allstate received the highest ratings from homeowners who wanted the best service experience regardless of price.
The Top Home Insurance Companies in Louisiana for Quality Service
1
State Farm
Score:81
State Farm has a strong rating in terms of customer satisfaction and is regarded as having high quality policy offerings and processes.
More About State Farm
Rare add-on coverages from State Farm include: Home Rental coverage, which provides property and liability coverage for the temporary rental of your home, and Vacancy coverage, which reimburses the cost of vandalism if your home is unoccupied for 30 days or more.
Read MoneyGeek's State Farm home Insurance Review2
Allstate
Score:80
Allstate received the second-best financial stability and customer satisfaction ratings and came third in claims ratings.
More About Allstate
Allstate offers a range of unique add-on coverages to homeowners. One is the HostAdvantage Home-Sharing coverage, which protects your possessions while you rent out your home. The Energy Efficiency Upgrade pays for the cost of replacing damaged insured equipment with energy-efficient alternatives.
Read MoneyGeek's Allstate home Insurance ReviewThe Best Homeowners Companies in Louisiana on a Budget
Insurance costs are often of primary concern for some homeowners. MoneyGeek selected the best companies for those who value excellent service yet want to save money on their monthly insurance premiums.
According to MoneyGeek's analysis, the best home insurance providers in Louisiana for budget-conscious homeowners are:
- State Farm: MoneyGeek score of 94 out of 100
- Allstate: MoneyGeek score of 91 out of 100
State Farm’s home insurance plans cost an average of $901 per year. Meanwhile, Allstate’s home insurance policies cost an average of $1,024.
MoneyGeek analyzed the factors that contribute to State Farm’s being the highest-scoring company for homeowners on a budget and examined some of the insurer’s unique coverages and discounts.
The Top Home Insurance Companies in Louisiana on a Budget
pros
Affordable home insurance coverage at $901 per year
Offers standard discounts including new home, bundling, claims free, protective device and home renovation
Customer satisfaction rating of 4.01 out of 5
cons
COMPANY HIGHLIGHTS
State Farm is the best and most affordable insurance provider in Louisiana. The company received a perfect score of 5 for affordability and has the cheapest average insurance quote in the state. Additionally, State Farm policyholders are eligible for a variety of discounts. You can save money by bundling your home and auto insurance policies. Furthermore, State Farm gives a discount to homeowners who have recently built a home or modified their existing home to include newer utilities. Additionally, there are savings associated with installing fire, smoke or burglary detection devices in your house.
State Farm offers unique discounts too, such as continuously insured, which provides savings based on how long your current insurance policy has been active.
The Best Homeowners Companies in Louisiana for Expensive Homes
Typically, expensive homes require higher insurance coverage, because they cost more to rebuild or replace than less expensive homes. MoneyGeek has compiled a list of the best home insurance companies in Louisiana for properties worth more than $2 million. Customer satisfaction with the companies was also assessed.
The top-rated companies in Louisiana for expensive homes are:
- State Farm: MoneyGeek score of 85 out of 100
- Allstate: MoneyGeek score of 81 out of 100
To help explain why State Farm received the highest score among the insurers that offer home insurance for expensive homes, MoneyGeek analyzed the company's unique coverages to people in need of extensive coverage.
The Top Home Insurance Companies in Louisiana for High-Value Homes
pros
An excellent MoneyGeek affordability score of 5 out of 5
A high customer satisfaction score of 4.09 out of 5
cons
COMPANY HIGHLIGHTS
When it comes to expensive homes in Louisiana, State Farm was named the best insurance provider due to its strong affordability, customer satisfaction and financial stability scores. In addition, State Farm policyholders can take advantage of a number of discounts, including having home security systems that detect fire, smoke or burglary.
State Farm’s add-on coverages can be beneficial for owners of expensive homes. For example, its Identity Restoration and Fraud Loss coverage provides case management services and expense reimbursement if your identity is used fraudulently to commit crimes, unlawfully establish credit accounts, secure loans or enter into contracts. Optional vacancy coverage protects you from repair costs for vandalism and glass breakage if your home has been unoccupied and empty of contents for more than 30 days.
The Best Homeowners Companies in Louisiana for Veterans
MoneyGeek compared the major insurance carriers in Louisiana to see which policy would be the best fit for military families. USAA received a MoneyGeek score of 95 out of 100, and it received a high ranking in terms of affordability. Additionally, the company received excellent customer satisfaction and financial stability scores.
USAA offers a wide range of policies for military personnel and their families. In Louisiana, the average cost of a USAA policy is $1,740 per year.
The Top Home Insurance Companies in Louisiana for Veterans
pros
Policies are tailored to military families and their specific requirements.
A perfect customer satisfaction score of 5 out of 5
MoneyGeek affordability score of 4.13 out of 5
cons
Not available to those without a military background
COMPANY HIGHLIGHTS
In Louisiana, USAA consistently outperforms other providers in customer satisfaction and cost. However, they only serve military personnel and their families.
The coverage alternatives USAA provides, such as earthquake, contents replacement cost and home rental coverage, reflect their excellent customer service. Home rental coverage ensures that your belongings are protected if you rent out your home, while Contents Replacement Cost coverage reimburses you for your belongings with no depreciation.
Bundling home and auto insurance policies with USAA can result in considerable savings. The company also provides savings options for homes that have installed protective devices.
The Best Homeowners Companies in Louisiana for Bundling
Typically, bundling your home and car insurance policies can lower your premiums. If you’re also looking to shop for car insurance, MoneyGeek rated the best auto and home insurance bundles in the state for those looking to balance the best home insurance policies with Louisiana’s best auto insurance.
The best companies for bundling home and auto insurance policies in Louisiana are:
- State Farm: MoneyGeek score of 87 out of 100
- Allstate: MoneyGeek score of 75 out of 10
Choosing to bundle your home and auto insurance policies typically gives you access to extra discounts. Bundling your policies with one company is also more convenient when you’re making updates or filing claims.
The Top Home Insurance Companies in Louisiana for Bundling
pros
Home MoneyGeek score of 4.41 out of 5
Auto MoneyGeek score of 4 out of 5
Bundling discount of 19%
cons
COMPANY HIGHLIGHTS
State Farm received high overall ratings for home insurance and auto insurance in Louisiana. Additionally, by bundling your home and auto insurance plans, you can save up to 19%.
State Farm provides a variety of distinctive home insurance policies, such as energy efficiency upgrades. If a covered loss results in damage to a heating system, air conditioner or water heater, this optional coverage pays up to 150% of the cost of replacing the item with a more energy-efficient model.
State Farm's auto insurance policies have the option of adding on extra coverage like ridesharing insurance. This allows rideshare drivers to access medical and roadside assistance in an emergency.
How to Find the Best Home Insurance in Louisiana
When shopping for the best home insurance in Louisiana, it's critical to consider the cost, customer service reputation and financial stability of the company. MoneyGeek has gathered this data for you and compiled a list of the top-rated home insurance companies in Louisiana. However, you can also go through the process yourself.
1
Research Customer Service Reputations in Louisiana
MoneyGeek gathered data on the customer service ratings of various Louisiana home insurance companies. You can also look at J.D. Power satisfaction scores and NAIC complaint ratios for insurance companies you want to look up. Learn more about home insurance by visiting the Louisiana Department of Insurance.
2
Compare Quotes for Yourself
MoneyGeek’s home insurance quotes in Louisiana were analyzed for sample homeowners. However, your profile may differ significantly from that of our sample. To get an idea of your insurance costs, gather and compare quotes from at least three different providers.
3
Make Sure the Company Has Coverages You Want in Louisiana
If you're looking for a specific type of coverage or discount, you'll want to make sure the company you're considering has it in your area. This is because not all of the insurer's listed coverages or discounts are available in all states.
4
Double-Check Financial Stability Ratings
You should also consider the insurers' financial strength ratings. Regional insurance companies that serve homeowners in Louisiana may have lower ratings. Large insurers, on the other hand, are generally financially stable.
FAQs About the Best Home Insurance in Louisiana
There are many factors to consider when looking for the best home insurance in Louisiana. Some of the most frequently asked questions are answered here by MoneyGeek.
Methodology
MoneyGeek scores for homeowners insurance in Louisiana were calculated by using a scaled and weighted average of J.D. Power Property Claims and Customer Satisfaction Scores, real homeowners insurance quotes and financial stability ratings from A.M. Best. Our scoring system weighted J.D. Power scores 60%, affordability 30% and financial stability 10%, adjusting weightings in the sections focused on affordability and service experience specifically.
MoneyGeek analyzed homeowners insurance quotes from the top insurance companies in Louisiana that were provided in partnership with Quadrant. Our analysis includes quotes from ZIP codes across Louisiana. Quotes were gathered with an average home profile of 2,500 square feet, built in 2000, with an average dwelling coverage value of $100,000, liability coverage of $100,000 and personal property coverage of $100,000.
About Mark Fitzpatrick
