Louisiana homeowners are likely familiar with the severe weather patterns that come from the Gulf of Mexico, which can cause significant damage to homes and property. The risk of a catastrophic financial loss is the primary reason for having a homeowners insurance policy in the Pelican State. With the help of Reviews.com, you may be able to find the best policy for your Louisiana home insurance needs.
The 4 Best Home Insurance Companies in Louisiana
Reviews.com’s data team analyzed providers who write policies in Louisiana to find the best options available to you. Carrier attributes assessed include customer satisfaction rankings from J.D. Power, financial strength ratings from AM Best, coverage options, available discounts, market share, and average annual premium data from Bankrate.com. Based on these factors, Reviews found these four companies may offer some of the best homeowners insurance policies in Louisiana:
- USAA: Best for Military-Focused Coverage
- State Farm: Best for Online Tools
- Hanover Insurance Group: Best for High-Value Homes
- Allstate: Best for Optional Coverage
Compare the Best Home Insurance Companies in Louisiana
The following companies represent the best overall home insurance companies, according to our research findings. Keep in mind, however, that a company other than these four might still be the best choice for your needs, as not all insurers are the right fit for each homeowner. Keep your priorities top of mind when shopping around so you can find the most robust coverage for your needs at a budget-friendly price. The following chart may help you see at a glance which insurers may be closest to your goals.
| Average Annual Premium* | AM Best AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim. | J.D. Power** J.D. Power scores are based on surveys for customer satisfaction and product quality. | ||
|---|---|---|---|---|
| Pin USAA | $1,987 | A++ | 882 | |
| Pin State Farm | $1,492 | A++ | 835 | |
| Pin Hanover Insurance Group | $1,806 | A | N/A | |
| Pin Allstate | $2,668 | A+ | 829 |
Information accurate as of September 2022
*2022 premium data provided by Bankrate.com. Based on $250,000 dwelling coverage
**J.D. Power’s 2021 U.S. Home Insurance Study. Based on a 1,000-point scale. USAA is not officially ranked by J.D. Power due to eligibility restrictions.
USAA: Best for Military-Focused Coverage
Best for Military-Focused Coverage
Why We Chose It
Why we chose it
Pros
- Highest financial strength rating
- Excellent customer service ratings
- Military lifestyle-friendly policies
- Replacement cost coverage available
Cons
- Only available for military members, veterans, and their families.
- Discounts are limited
- Higher rates than some other top insurance companies
Other Policies Offered
- RV and motorhome
- Aviation
- Farm and ranch
- Valuable personal property
- Condo
Standout Discounts Available
- Multi-line
- Protective device
- Claims-free
State Farm: Best for Online Tools
Best for Online Tools
Why We Chose It
Why we chose it
Pros
- Competitive average annual premium rate for Louisiana
- Highest financial strength ranking
- Above-average J.D. Power customer satisfaction ranking
Cons
- Fewer discounts available than some other insurers
Other Policies Offered
- Renters
- Farm and ranch
- Identity restoration
- Business owners
- Automobile
Standout Discounts Available
- Multi-line
- Home security device
- Roofing materials
Hanover Insurance Group: Best for High-Value Homes
Best for High-Value Homes
Why We Chose It
Why we chose it
Pros
- Variety of options for customized coverage
- Deductible waiver for large loss
- Higher coverage limits available
Cons
- Low financial strength rating than other insurers
- No online quote option available
- Not rated by J.D. Power for customer satisfaction
Other Policies Offered
- Motorcycle
- Watercraft
- Condo
- Valuable items
- Recreational vehicles
Standout Discounts Available
- Multi-line
- Home safety devices
Allstate: Best for Optional Coverage
Best for Optional Coverage
Why We Chose It
Why we chose it
Pros
- Enhanced coverage options
- Excellent range of discounts
- Above-average J.D. Power customer satisfaction score
Cons
- Average premiums in Louisiana higher than other insurers
- Ratings for financial strength and customer satisfaction not as strong as other insurers
Other Policies Offered
- Auto
- Business
- Identity theft protection
- Pet
- Travel
Standout Discounts Available
- Claim-free
- Early signing
- Welcome and loyalty
- Home buyer
*2022 premium data provided by Bankrate.com. Based on $250,000 dwelling coverage
**J.D. Power’s 2021 U.S. Home Insurance Study. Based on a 1,000-point scale. USAA is not officially ranked by J.D. Power due to eligibility restrictions.
The Average Cost of Home Insurance in Louisiana
The average cost of home insurance premiums in Louisiana is $2,009 per year for $250,000 in dwelling coverage. This is above the average annual cost of homeowners insurance in the U.S., which is $1,383 per year. It’s important to remember that your own rate will most likely differ from these averages. Insurers take multiple highly-personalized factors into consideration when determining insurance rates, including your home’s location and age, your credit rating, and your claims history. For comparison purposes, here are a few of the cheapest and most expensive companies we found based on the review of annual rates.
Top 3 Cheapest Home Insurance Companies in Louisiana
| Company | Average Annual Premium* |
| United P&C Insurance Co. | $699 |
| Bankers Insurance Group | $814 |
| Maison Insurance | $865 |
*Data from Bankrate.com
Top 3 Most Expensive Home Insurance Companies in Louisiana
| Company | Average Annual Premium* |
| Louisiana Farm Bureau | $3,541 |
| Lighthouse Property Insurance Co. | $3,218 |
| Access Home Insurance Co. | $3,154 |
*Data from Bankrate.com
Key Things to Know About Home Insurance in Louisiana
A good insurance resource for Louisiana homeowners is the Louisiana Department of Insurance website. The site provides consumer publications and allows you to file a complaint and report insurance fraud. Another website that may be helpful to review is Ready.gov, a website created by the federal government that helps homeowners prepare for hurricanes and tropical storms, stay safe during them, and return home afterward.
Home Insurance Coverage Options
Although a basic HO-3 insurance policy (the most common type) will protect you from many disasters, there are a few cases where you might want to consider optional coverage. One of the most important for Louisiana homeowners is flood insurance coverage. Flood insurance isn’t part of standard home insurance policies but can be added to your policy lineup by most insurers at your request. Although it costs extra to have this additional policy, it can greatly enhance your financial protection if you are in an area that experiences frequent flooding, such as Louisiana. Many insurers will facilitate the purchase of a government flood insurance program, or you can find separate flood policies in some states from private companies.
Frequently Asked Questions
Methodology
Reviews evaluated the companies based on their third-party agency ratings for customer experience, financial stability, and coverage options to determine which might be the best providers.
To compare home insurance companies across the board, we considered the following factors:
- Customer Ratings — Customer ratings are an indication of satisfaction with the overall experience with a company. We measured this using 2021 J.D. Power Home Insurance Study ratings.
- Coverage — As there isn’t one company to fit everyone’s needs, we evaluated companies by the amount of coverage options and add-ons available.
- Confidence — It is extremely important for insurance companies to fulfill customers’ claims. Companies with sound financial strength ratings indicate a positive history of being able to pay out claims. We measured this using AM Best ratings.
- Customer Experience — The amount of complaints a company receives is an indicator of the overall customer experience as it expresses dissatisfaction. We have based this measure on the National Association of Insurance Companies National Complaint Index.
Rates are based on 2022 quoted annual premiums from Bankrate.com. Rates are weighted based on the population density in each geographic region. These are sample rates and should be used for comparative purposes only. Your quotes may be different.
The coverage limits for home insurance rates reflect the following coverage and limits:
- Coverage A, Dwelling: $250,000
- Coverage B, Other Structures: $25,000
- Coverage C, Personal Property: $125,000
- Coverage D, Loss of Use: $50,000
- Coverage E, Liability: $300,000
- Coverage F, Medical Payments: $1,000
The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required).
About the Authors
Mary Van Keuren has been covering auto and home insurance for Reviews.com for nearly five years, and has published numerous reviews of state-specific insurance trends and how to find the best insurance deals for your money. She earned B.S. and M.A. degrees from Nazareth College in Rochester, N.Y. and has been writing professionally, both in print and online, for 30+ years.
