The Best Louisiana Homeowners Insurance Company
Louisiana is one of the most expensive states for homeowners insurance, with premiums averaging $1,847 per year — well above the national mean of $1,132. That said, your own premium can vary a lot depending on your home’s size, your address, and your assets. Use our tool to find your best rates:
Enter your ZIP code to see the best rates in your area:
Louisiana has seen more than its fair share of natural disasters. The state is still recovering from 2005’s Hurricane Katrina, and last year Louisiana took additional damage from Hurricane Harvey. Bordered by both the Gulf of Mexico and the Mississippi River, Louisiana is also prone to heavy flooding. All of this can add up to some hefty insurance claims: In 2016, for example, the state ranked third in the country for insured catastrophe losses.
Louisiana also ranks third for homeowners insurance premium rates — the National Association of Insurance Commissioners reports that homeowners will pay, on average, up to $700 more in annual costs than most Americans.
This means that finding the best homeowners insurance in Louisiana comes down to carefully comparing both the rates you pay and the coverage you get for your money. You don’t want to fork over big premiums every month only to find that you don’t have enough coverage when disaster strikes. On top of that, it’s important to find an insurer that’s easy to work with and financially stable enough to make good on claims.
How We Found the Best Homeowners Insurance in Louisiana
We evaluated the five largest homeowners insurance providers in Louisiana using the same methodology and metrics we developed for our nationwide homeowners insurance review: We checked A.M. Best’s financial security ratings to make sure they had strong financial backing. We looked at surveys from JD Power and Consumer Reports to evaluate whether people were satisfied with their customer service and claims. Finally, we ranked the types of coverage offered, compared rates, and tallied up discounts to see which providers offer the best policies at the most affordable prices.
Louisiana Homeowners Insurance Reviews
State Farm is Louisiana’s largest homeowners insurance provider — and one of the highest-rated companies on the market. It holds A.M. Best’s top score, an A++, indicating superior financial stability; JD Power reviewers gave the company four out of five points for overall experience; and Consumer Reports ranks it ‘Very Good.’ These scores are proof of a smooth claims process, timely payments, and overall happy customers.
We can see why customers are so happy. When we compared premiums for a variety of scenarios (see below), State Farm consistently quoted some of the lowest rates. If you’re insuring a new $400K home, for example, this company might save you up to $1,000 in insurance payments per year.
Of course, actual premiums will vary. Your price depends on the amount of coverage you purchase, how many discounts you qualify for, and personal factors like home value and credit score. There is some room for tailoring here: State Farm has a decent selection of additional coverage options (sometimes called “endorsements”), including choices like identity theft protection. It also offers plenty of discounts. You can lower your insurance rate by opening up a multi-line policy, installing burglar and fire alarms, or getting a new roof, for example. But be aware that State Farm has fewer policy options than some other companies on our list, like Allstate.
It has slightly weaker tools than other providers, too. Allstate and Liberty Mutual’s websites have robust educational centers designed to help you understand your insurance policy — State Farm’s education section feel a little paltry in comparison. And you can only build a home inventory or upload photos of damage through your online State Farm account, while other insurers have built those features into convenient mobile apps.
Still, like we said: State Farm quoted us low insurance rates compared to these other companies. If that holds true for you, you may not miss the discounts or mobile tools. Start by getting a quote from State Farm — but you should also check out one or two of the other providers on our list to see where you can get the best coverage at the best rates.
If you’re associated with the military, you’ll want to look into getting your homeowner’s insurance with USAA. Like State Farm, USAA earned an A++ ranking from A.M. Best. It even outshined State Farm in terms of customer satisfaction; earning five out of five possible points from JD Power and an ‘Excellent’ rating from Consumer Reports.
When we compared insurance rates, USAA also tended to be near the cheap end of the scale. In one scenario — a 10-year-old, $200K home in hurricane-prone New Orleans — USAA’s annual premium rates were several thousand dollars lower than some of our other providers’.
USAA doesn’t offer a lot of discounts. It also has fewer additional coverage options than the other providers on our list (although some, including identity theft, are included in its basic package). That said, its prices are hard to beat. If you’re associated with the military and looking for a financially stable insurer with excellent customer service, we highly recommend USAA.
Allstate received an A+ rating from A.M. Best — a very strong indicator of financial stability — and JD Power reviewers gave it three out of five points for overall experience and claims process. Consumer Reports dubs it ‘Very Good.’
We’re fans of Allstate, too. We like that it offers a long list of potential discounts, including multi-line policy deals, home renovation discounts, burglar and fire alarm discounts — you even get money off for setting up auto pay. Allstate also carries some unique additional coverage options, like sewer backup protection, that we didn’t see anywhere else.
On top of that, Allstate has developed some convenient tools for managing your policy. For example, its Digital Locker app lets you create a home inventory that can be used to back up personal property claims. And it’s the only insurer on our list with a tool for comparing claims by area. Search Baton Rouge, for example, to see that the most common insurance claim is wind, while the most costly claim is liability. If you live to the north in Shreveport, you’ll find that the most common claim is still wind, but hail is now the most costly — so it might be a good idea to renovate your roof (and get an Allstate discount in the process).
On the downside, Allstate’s sample rates came in consistently higher than other providers’ — sometimes by $1,000 or more. If you’re considering Allstate, make sure to get additional quotes from one or two other companies and then carefully compare your offers. Remember: Rates alone aren’t make-or-break. Consider your deductibles and coverage needs as well.
Liberty Mutual’s ratings fall in the middle of the pack: An A from A.M. Best, three out of five customer satisfaction points from JD Power, and a ‘Very Good’ from Consumer Reports. But where this company stands out are its industry-leading resources.
We’re really impressed with Liberty Mutual’s MasterThis online training modules. These 15-20 minute courses were developed in conjunction with HowStuffWorks to teach you how to maximize — and protect — the value of your home. We also love its HomeGallery app, which you can use to build an inventory complete with photos and item values. In the event that you need your insurer to replace personal property, this app makes the claims process easy.
In addition, Liberty Mutual offers a long list of discounts. Among these are discounts for installing sprinklers and fire alarms, opening a multi-line policy, and insuring your home for 100 percent of its value. The company has a wide selection of coverage options, too; including the option to adjust your coverage every year for inflation (while simultaneously getting a discount for having Inflation Protection).
We’re not as impressed by Liberty Mutual’s rates. As far as we could tell, low-risk homeowners (people with high credit scores, people in safe areas) are offered competitive prices — but higher-risk homeowners will pay premiums far above average. Take a look at our comparison charts below to see how prices stack up for your individual situation; if you’re a low-risk customer then Liberty Mutual may have the best policy for you. Say you have poor credit, though — then you might be better off with Louisiana Farm Bureau or State Farm.
Louisiana Farm Bureau
The Louisiana Farm Bureau Mutual Insurance Company received an A- from A.M. Best, which means it’ll be able to make good on all claims (it’s just not as financially impressive as our other picks). The company isn’t not large enough to be rated by JD Power or Consumer reports, so we can’t draw comparisons there — although it does have one special endorsement: Brett Favre’s.
Because the Louisiana Farm Bureau is a smaller company, you won’t find as many coverage options as you would with a nationwide provider; it doesn’t carry identity theft insurance, for example. This company does offer affordable insurance rates, especially for higher-risk homeowners — so If your credit score is on the low end, we highly recommend getting a quote here.
In addition, local and regional providers have a reputation for more personalized, hands-on customer service. They generally have fewer customers than nationwide providers and can spend more time with each individual policyholder. If you’re interested in working with a local insurer, you should absolutely start your search with the Louisiana Farm Bureau.
Tips for finding the best Louisiana homeowners insurance — at the most affordable price.
Use the Louisiana Department of Insurance’s comparison tool to find the best premium for your home.
Like we said: Your premium is personal. To find the best price, you’ll have to contact insurers directly and request personalized quotes. But before you start calling and filling out forms, check out the Louisiana Department of Insurance’s Homeowners Rate Comparison Guide.
This online tool lets you choose between 12 different “insurance scenarios” — new homes, old homes, wind mitigated homes, owners with low or high credit, etc. — and then select your city to get a list of estimated annual insurance rates. This will help you get a feel for which companies offer competitive premiums for your situation. That way, you’ll know where to start requesting quotes.
We tried it out to get a sense for how prices stack up, looking at our insurers performance in four different scenarios spread across coastal and inland cities.
Here are our top providers’ estimated rates for a new $400K home in Baton Rouge (remember, these numbers are what you’d pay over the course of a year):
Here are estimated rates for a 10-year-old $200K home in Shreveport when the owner has a low credit score:
And that same 10-year-old $200K Shreveport home, now with a high credit score (note which insurers offer better rates and which don’t):
Let’s do one more: a 10-year-old $200K home with wind mitigation in New Orleans (because if you live in New Orleans, you’re going to want wind mitigation):
As you can see, there are a lot of factors that go into determining your insurance rate. Use this tool to understand the types of rates you might get — and which providers might offer you the lowest options.
Consider getting flood insurance through the National Flood Insurance Program.
The National Flood Insurance Program is a federal program that provides affordable flood insurance in at-risk areas. It’s a great backup if you can’t get the coverage with your main provider. How do you figure out if NFIP is the right choice for your home? Ask the agent who’s setting up your homeowners’ insurance policy. You have to apply for NFIP insurance through an insurance agent — you can’t get it directly — so they’ll help you figure out what the best option is and guide you through the application process.
It is worth noting that Congress has not yet decided whether to reauthorize the NFIP — which means that it could, at some point, lose the ability to sell and renew policies. If that happens, expect to see more private insurers offering flood insurance packages.
If you’re looking beyond our top picks, make sure your insurer is covered by the Louisiana Insurance Guaranty Association.
The Louisiana Insurance Guaranty Association is a private, non-profit entity designed to function as a safety net in case your insurer becomes insolvent. In other words: If your insurer can’t make good on a claim, the LIGA will step in and provide financial backing.
All of our top picks are covered by the LIGA. If you’d like to check out additional insurers, use the Louisiana Department of Insurance’s search tool. When you search a company and the phrase “Admitted Insurer” appears by their name, they’re covered by the LIGA.
And if you can’t get private insurance, seek coverage through the Louisiana Citizens Property Insurance Corporation.
Private insurers are sometimes hesitant to insure homes in catastrophe-prone areas of the state, like along the coastline. If private insurance isn’t available your area, you can apply for coverage through the Louisiana Citizens Property Insurance Corporation. This “insurer of last resort” offers basic dwelling and property coverage to people who can’t get it anywhere else — although you’ll have to show that you’ve made a good faith effort to find private coverage before applying for a policy here.