Cheapest Homeowners Insurance in Louisiana (2024 Rates)


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Updated: May 22, 2024

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Louisiana residents will typically find ASI the most economical home insurance provider for almost any situation, including for homeowners with poor credit or a claims history. However, if you're interested in bundling home and auto insurance, State Farm offers the most affordable rates in the state.

Why Trust MoneyGeek? MoneyGeek used information from the Louisiana Department of Insurance and Quadrant Information Services to obtain data on insurance rates, discounts and more.

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These rates reflect the cheapest home insurance quotes in Louisiana as of 2024.

Overall Cheapest Homeowners Insurance in Louisiana

For Louisiana's most affordable home insurance, ASI ranks first across various dwelling coverage limits. However, rates may still vary based on your unique circumstances.

Here are ASI's average rates for different coverage limits, demonstrating its cost-effectiveness across policies:

  • Cheapest for $100,000: ASI at $517 per year
  • Cheapest for $250,000: ASI at $941 per year
  • Cheapest for $500,000: ASI at $1,751 per year

Check out cheap home insurance options on MoneyGeek and see how costs change by dwelling coverage using the table below.

Data filtered by:Results filtered by:
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
Construction Year:
Construction Year:2000
ASIAnnual Premium$517
State FarmAnnual Premium$1,478
Foremost InsuranceAnnual Premium$1,665
The HanoverAnnual Premium$1,741
AllstateAnnual Premium$2,171
ShelterAnnual Premium$2,343
Louisiana Farm BureauAnnual Premium$4,154

Compare Louisiana Home Insurance Quotes Online

To secure cheap home insurance in Louisiana, get quotes from several providers. MoneyGeek’s home insurance calculator helps you compare Louisiana rates quickly without needing your personal information.

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Rates updated:

Oct 04, 2024

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Cheapest Home Insurance in Louisiana for High-Value Homes

For Louisiana homeowners who need higher dwelling coverage limits to cover their high-value homes, ASI is the most affordable choice. For $750K in dwelling coverage, ASI charges an average of $2,486 per year.

Remember, dwelling coverage is the primary driver of insurance costs, and it follows that costs for high-value homes are typically higher. However, ASI still ranks first in Louisiana as the cheapest home insurance provider. See its rates for different levels of coverage:

  • Cheapest for $750,000: ASI at $2,486 per year
  • Cheapest for $1,000,000: ASI at $3,211 per year

When choosing limits, we recommend basing it on your home's replacement cost rather than your property's value. Take a look at the cheapest providers in Louisiana below for higher dwelling coverage limits to find your best deal.

Data filtered by:Results filtered by:
Coverages:
Coverages:$750K Dwelling / $375K Personal Property / $500K Liability
Construction Year:
Construction Year:2000
ASIAnnual Premium$2,486
State FarmAnnual Premium$6,120
AllstateAnnual Premium$8,933
The HanoverAnnual Premium$13,185
Foremost InsuranceAnnual Premium$13,984
ShelterAnnual Premium$15,952
Louisiana Farm BureauAnnual Premium$26,141

Cheapest Home Insurance in Louisiana for New Homes

ASI is Louisiana's cheapest home insurance provider for newly constructed homes, charging an average of $274 per year for $100K in dwelling coverage. Because new homes often follow the latest safety codes and have modern safety measures, they are typically cheaper to insure in Louisiana.

For new homes, ASI ranks as the cheapest across different coverage levels. See its rates below:

  • Cheapest for $100,000: ASI at $274 per year
  • Cheapest for $250,000: ASI at $451 per year
  • Cheapest for $500,000: ASI at $781 per year

The table below demonstrates how the cost to insure a new home can change based on dwelling coverage and provider.

Data filtered by:Results filtered by:
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
ASIAnnual Premium$274
State FarmAnnual Premium$887
Foremost InsuranceAnnual Premium$1,033
The HanoverAnnual Premium$1,289
AllstateAnnual Premium$1,371
ShelterAnnual Premium$1,419
Louisiana Farm BureauAnnual Premium$2,976

Cheapest Home Insurance in Louisiana for Low Credit Scores

In Louisiana, ASI offers the most affordable home insurance for those with poor credit for $100K in dwelling coverage. Credit scores significantly influence insurance rates as providers use them to measure the default risk of policyholders.

Across dwelling coverage limits, ASI remains the cheapest provider in Louisiana, even for homeowners with poor credit.

  • Cheapest for $100,000: ASI at $861 per year
  • Cheapest for $250,000: ASI at $1,566 per year
  • Cheapest for $500,000: ASI at $2,913 per year

On average, Louisiana homeowners with a poor credit history pay $1,804 more per year for a policy with $100K in dwelling coverage than policyholders with good credit.

Data filtered by:Results filtered by:
Credit Score:
Credit Score:Poor
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
Construction Year:
Construction Year:2000
ASIAnnual Premium$861
State FarmAnnual Premium$3,326
The HanoverAnnual Premium$3,819
Louisiana Farm BureauAnnual Premium$4,154
Foremost InsuranceAnnual Premium$4,588
AllstateAnnual Premium$4,899
ShelterAnnual Premium$5,051

Cheapest Home Insurance in Louisiana With a Claims History

ASI is Louisiana's cheapest home insurance provider for policyholders with at least one claim in the past five years, charging an average of $784 per year for $100K in dwelling coverage. A past claim can increase insurance costs, as insurers perceive you have a higher risk of making another claim.

Here are the cheapest policies across different coverage limits for homeowners with a recent claim history:

  • Cheapest for $100,000: ASI at $784 per year
  • Cheapest for $250,000: ASI at $1,426 per year
  • Cheapest for $500,000: ASI at $2,653 per year

In Louisiana, having two claims on your record could lead you to pay an average of $311 more per year compared to homeowners with no claim history. Maintaining a minimal claims record can translate into considerable savings for homeowners in the state.

Data filtered by:Results filtered by:
Claims History:
Claims History:1 claim in past 5 years
Construction Year:
Construction Year:2000
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
ASIAnnual Premium$784
State FarmAnnual Premium$1,687
Foremost InsuranceAnnual Premium$1,977
The HanoverAnnual Premium$2,066
ShelterAnnual Premium$2,689
AllstateAnnual Premium$2,893
Louisiana Farm BureauAnnual Premium$4,154

Cheapest Home Insurance in Louisiana by Home and Roof Materials

The type of home construction and the materials used for the roof can significantly impact home insurance costs. In Louisiana, ASI offers the cheapest premium for a frame construction type home with a shake-treated roof at $517 annually. The higher cost of insuring these homes is due to their increased risk of damage or degradation.

For the same type of home, ASI consistently ranks first as the cheapest provider in Louisiana. Here's a breakdown of the rates at different coverage values:

  • Cheapest for $100,000: ASI at $517
  • Cheapest for $250,000: ASI at $941
  • Cheapest for $500,000: ASI at $1,751

A home with better construction materials typically receives better rates. For instance, a superior construction home with a tile roof costs an average of $229 less per year to insure than a frame-type home with a shake-treated roof. This comparison underlines the impact of construction and roof materials on insurance costs. Awareness of construction type is particularly relevant to Louisana homeowners due to the state's potential for severe weather-related damage.

Data filtered by:Results filtered by:
Home Construction Type:
Home Construction Type:Frame
Roof Material:
Roof Material:Shake-Treated
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
ASIAnnual Premium$517
State FarmAnnual Premium$1,478
Foremost InsuranceAnnual Premium$1,665
The HanoverAnnual Premium$1,741
AllstateAnnual Premium$2,178
ShelterAnnual Premium$2,343
Louisiana Farm BureauAnnual Premium$4,154

Cheapest Home Insurance in Louisiana by Deductible

Having a higher deductible could save you hundreds annually. In Louisiana, the most affordable home insurance firm for a $2,000 deductible is ASI, with an average annual premium of $493, compared to a $500 deductible at an annual premium of $554.

The cheapest rates for each deductible level include the following:

  • $2,000 deductible: ASI at $493 per year
  • $1,500 deductible: ASI at $535 per year
  • $1,000 deductible: ASI at $517 per year
  • $500 deductible: ASI at $554 per year

A home insurance deductible is what you pay out-of-pocket before insurance picks up the rest. The average annual cost difference for a $500 deductible versus a $2,000 deductible across all insurers is $388, demonstrating the potential savings.

Data filtered by:Results filtered by:
Deductible:
Deductible:2000
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
Construction Year:
Construction Year:2000
ASIAnnual Premium$493
Foremost InsuranceAnnual Premium$1,331
State FarmAnnual Premium$1,362
The HanoverAnnual Premium$1,544
ShelterAnnual Premium$1,856
AllstateAnnual Premium$1,932
Louisiana Farm BureauAnnual Premium$3,982

Cheapest Home and Auto Insurance Bundle in Louisiana

State Farm is the most affordable company for home and auto bundle policies in Louisiana, with an average annual premium of $3,933. Some home insurance providers offer savings or rewards if you choose to have multiple policies with them.

Here are the cheapest home insurance bundles in Louisiana:

  • State Farm at $3,933 per year
  • Allstate at $6,976 per year

The benefits of bundling go beyond price; it adds the convenience of managing both policies with the same insurer. This streamlines the insurance process, making it easier for customers to manage and maintain their coverage. Explore more advantages of the best Louisiana insurance bundle.

State FarmAnnual Premium$3,933
AllstateAnnual Premium$6,976

Cheapest Home Insurance in Louisiana by City

ASI is the most affordable home insurance provider in many Louisiana cities, with rates ranging from $478 to $592, depending on your location. Differences in cost across cities can significantly vary due to local building codes, crime rates and weather risks. For instance:

  • Lafayette has the cheapest rates in the state, with ASI offering the most affordable home insurance at an average of $478 annually.
  • In contrast, Metairie has the most expensive home insurance costs, with the cheapest company being ASI at an annual average of $592.

It pays off to shop around as insurers often compute rates uniquely for different geographic regions, providing a chance for potential savings. Explore our table below for the cheapest rates available in other Louisiana cities.

Baton RougeCheapest CompanyASIAnnual Premium$523
LafayetteCheapest CompanyASIAnnual Premium$478
MetairieCheapest CompanyASIAnnual Premium$592
New OrleansCheapest CompanyASIAnnual Premium$536
ShreveportCheapest CompanyASIAnnual Premium$486

About Mark Fitzpatrick


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Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.

Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.