Of the 15 insurers who are writing the most policies in Louisiana, we found five that offer solid, comprehensive coverage at a fair price.
Each of these companies is financially stable, so they can pay out even in the event of a regional catastrophe.
And each has a strong focus on customer service, so you should be able to file a claim with your agent or pay your bill online without too much frustration or difficulty.
The 5 Best Homeowners Insurance Companies in Louisiana
|UPC Insurance||FedNat Insurance||State Farm||The Hanover||USAA|
|Our review||Our review|
|AM Best Financial Strength Rating||A-||A+||A++||A||A++|
|J.D. Power Overall Customer Satisfaction Score (Relevant region)||747/1000||NA||831/1000||NA||878/1000|
|Online Quote Tool||X||X||✓||X||✓|
|Compare rates||Compare rates||Compare rates||Compare rates||Compare rates|
Average Cost of Homeowners Insurance in Louisiana
The average cost of homeowner insurance in Louisiana is $2,951, which is one of the highest rates in the country, as opposed to the national average of $1,211.
A significant history with tropical storms and flooding is likely to be the most significant contributor to the high rates.
Home Insurance add-ons that will further protect you
Probably the most important add-on, or endorsement, to consider for your homeowner insurance in Louisiana is flood insurance.
Flooding is generally not covered in a basic HO-3 homeowner policy, but most insurers offer flood insurance that is part of the National Flood Insurance Program.
If you’re not sure whether or not you need flood insurance, check out FEMA’s Flood Map Service Center.
It’s also important to consider all types of coverages offered for water damage, such as for plumbing or septic, as water damage cause of loss can be hard to establish with an insurer.
Helpful Resources for Louisiana Homeowners
One good resource for homeowners is the Louisiana Department of Insurance website. The site includes consumer information, forms you can use in the unlikely event that you need to file a complaint, and a nifty rate comparison tool that lets you choose a scenario to see what homeowner insurance rates would be throughout the state.
Another site worth checking is that for the Louisiana Insurance Guaranty Association, a nonprofit organization that serves as a back-up source of funding if your insurance company isn’t able to pay out on a claim. It has a search tool that lets you input a company name and see if it is an “Admitted Insurer” with LIGA.
Finally, if you’re an insurance newbie, we suggest you take a look at the free e-booklet published by the National Association of Insurance Commissioners, A Consumer’s Guide to Home Insurance. The booklet has information on the types of insurance and limits of coverage, explanations of how insurers determine your premium, how to file a claim, and much more.
We used the methods we developed for our review of the Best Homeowners Insurance Companies to find the best homeowner insurance companies in Louisiana. We evaluated insurance providers with the greatest presence by market share, and looked at their financial rankings with AM Best and Standard & Poors, then compared ratings with consumer organizations like J.D. Power and Consumer Reports.
We also explored each company’s website to see if they were user-friendly and allowed you to handle common tasks like paying your bill or making a claim online. Then we contacted each company for a quote on a sample home in Louisiana. Keep in mind your premiums may differ depending on many factors.
Best Louisiana Homeowners Insurance Companies
- Specialises in coastal states
- Unique endorsements
- Not known for Customer service
UPC specializes in coastal states which makes it a great company for Louisiana homeowners. It has an A- rating from AM Best, which indicates decent financial stability. UPC also has some interesting endorsements that we liked, including a home systems protection add-on that covers failure with mechanical and electric equipment like dishwashers, sound systems, and even spa and exercise machines.
The one area where UPC fails to hold up to the competition is in customer service. J.D. Power places it dead last in its U.S. Home Insurance Overall Customer Satisfaction Index with a 747 out of 1000.
- A+ rating from BBB
- Financially solid
- High-value homes served
- Bare bones website
- Lack of discounts
Like UPC, FedNat is a regional insurer that writes policies in the southern states and specializes in large loss claims on high value homes. Although not yet rated by Consumer Reports or J.D. Power, it has an A+ rating from the Better Business Bureau and an average of four out of five stars for customer reviews.
Although it doesn’t have a range of add-ons like some of the larger companies, it does offer a perk called StormPeace, which promises to have cash in your hands within 72 hours of being hit by a hurricane. Additionally, FedNat offered one of the more competitive quotes compared to other providers.
Other detractions include a somewhat cumbersome website — which lacks an online quote tool and offers little educational info
- Financially stable
- Detailed quote tool
- Informative website
- Few discounts
- Average customer service
State Farm is the largest writer of homeowner insurance policies both in the U.S and in Louisiana, where it has a market share of more than 26%. State Farm, with an A++ from AM Best, is one of the most financially stable insurers in the country.
State Farm’s website far outstrips the competition. It includes an informative blog and the most detailed quote tool we’ve seen, providing a more accurate quote.
In addition to only average customer service reviews, the one other area where it falls a bit short is in the number of discounts offered. There are only three available for homeowner policies, but a below-average quote does help compensate.
- Good range of endorsements
- Several tiers of coverage
- No online quote
- Lackluster customer service
The Hanover Insurance Group is another regional insurer that writes policies in 27 states, including Louisiana, and it works with independent agents who have experience in their respective communities. The Hanover doesn’t have an online quote tool, but it does structure its quotes to fit in one of three tiers.
Unfortunately, The Hanover isn’t known for excellent customer service. The National Association of Insurance Professionals (NAIC) gives the Hanover a 2.00 on its Complaint Index Report, which is double the average.
However, the Better Business Bureau (BBB) gives it an A+, which indicates that generally its members are satisfied with their interactions with the company.
- Excellent customer service
- High financial ranking
- Coverage geared toward military customers
- Few discounts
- Limited availability
USAA turns up near the top of a lot of lists: It’s in second place on Consumer Reports survey of nearly 7,000 customers. It’s at the top spot in J.D. Powers Property Claims Satisfaction study. NAIC indicates it receives well below the average number of complaints. Financially, it’s stable enough to earn the highest ranking possible, an A++, from AM Best.
The only reason it’s not at the top of our list is that USAA coverage is only available to current and former members of the military and their families. If you fit into that demographic, we strongly recommend you take a look at the company, whose quote for us came in more than $500 below the state average.
The Cheapest Homeowner Insurance Companies In Louisiana
|Homeowner Insurance Companies||Average Annual Premium|
|FedNat Ins Co||$920|
|Maison Ins Co Voluntary||$985|
|Gulfstream Prop & Cas Ins Co||$1,310|
|Garrison Prop & Cas Ins Co||$2,462|
|Armed Forces Ins Exch||$3,951|
|Louisiana Farm Bureau Cas Ins Co||$4,013|
|Lighthouse Prop Ins Corp||$4,325|
|Access Home Ins Co||$4,359|
Homeowner Insurance by Age of Home
|Credit Rating Tier||Average Annual Premium|
|Average Across Credit Rating Tiers||$2,951|
Quadrant home insurance rate data as of 12/01/2019.
These rates are a sample set meant only for general comparison. Your own premium will vary. Learn how we tested rates for the cheapest home insurance companies in our methodology.
Top 3 Cheapest Homeowner Insurance Companies in Louisiana
- UPC Insurance – $635
- ASI Lloyds – $693
- FedNat Insurance – $920
Top 3 Most Expensive Homeowner Insurance Companies in Louisiana
- Access Home Insurance – $4,359
- Lighthouse Property Insurance – $4,325
- Louisiana Farm Bureau – $4,013
The quotes we received are based on a general profile, and it’s worth noting that your own quote will likely be different.
Multiple factors play a role in determining your premium costs: the age of your home, its location, and what it’s made of, as well as your own age, credit rating, and even marital status.
The best way to find out who has the cheapest insurance coverage for your own property is to ask for several quotes, then compare them.
Homeowners Insurance FAQ
Is homeowners insurance required in Louisiana?
Unlike auto insurance, homeowner insurance in Louisiana is not required by law. If you have a mortgage, however, it is likely that your mortgage holder will require you to carry a policy as a way to protect their investment in your home.
What is the cheapest homeowners insurance in Louisiana?
The cheapest sample premium we found was with UPC, a respected regional carrier that has experience in insuring coastal regions. Your own quote is likely to be different.