Insurance
Louisiana Homeowners Insurance Calculator: Free Cost Estimator (2024)
Updated: November 10, 2024
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MoneyGeek’s home insurance calculator will give you a ballpark estimate of your cost — it’s free, no personal information required, no spam.
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Nov 20, 2024
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MONEYGEEK EXPERT TIP
To assist you in finding affordable Louisiana homeowners insurance, MoneyGeek compared insurance policies from several companies. We discovered that State Farm offers the most affordable home insurance policy in Louisiana.
However, if you're looking for the best Louisiana homeowners insurance with excellent customer service and a competitive price, MoneyGeek has done the research. We examined quotes from many insurance companies to assist you in selecting the option that best suits your requirements.
How to Estimate the Cost of Your Homeowners Insurance Policy in Louisiana
Your specific requirements and personal profile will determine how much you pay for homeowners insurance in Louisiana. The age influences your insurance rate, the cost to rebuild and the location of your home, plus your credit history and policy choices.
To get an accurate estimate of your homeowners insurance premium in Louisiana, use MoneyGeek’s Louisiana homeowners insurance calculator. Select your preferences for each section.
Louisiana
Your homeowners insurance premium is affected by the location of your home in Louisiana. If your area experiences a large number of incidents of crime, fires or natural disasters, insurance companies will view your home as a higher risk to cover. Consequently, they charge you a high premium.
On the other hand, if there aren't a lot of potential risks in your city, you may expect to pay a lower premium.
Dwelling Coverage
If your home is physically damaged or destroyed as a result of a peril that is covered by your policy, dwelling coverage is the amount the insurer will pay up to for repairs or replacement.
You can determine the replacement value of your home with the help of a skilled home appraiser. You may also request assistance from your insurer in estimating the amount.
Keep in mind that the average dwelling coverage amount in Louisiana is $100,000.
Deductible
If you claim your homeowners insurance policy, the deductible is the amount you are responsible for paying out of pocket before your insurance coverage kicks in.
For instance, if your home insurance policy deductible is $1,000 and your claim is worth $10,000, you would be responsible for $1,000, and your insurer will cover the remaining $9,000.
If you want a lower monthly premium, you might go for a higher deductible.
Liability
Liability insurance will cover costs associated with someone being injured on your property or damage to their property due to your negligence. There is coverage for legal bills, replacement costs, medical expenses, pain and suffering and death benefits.
Purchase sufficient liability coverage to protect your assets. Increasing the limit of your liability insurance by tens of thousands of dollars may only cost you a few extra dollars every month.
Personal Property
Everything you own, except for your primary residence, is protected by your personal property coverage. That can include clothing, electronics, furniture and other personal possessions.
Use the calculator below to discover how much personal property insurance you need. It can help guarantee that you have adequate coverage for your needs.
Credit Score
Insurance companies in Louisiana will consider your credit score as one factor among many when determining the cost of your monthly premium for homeowners insurance.
Homeowners with lower credit ratings may be more likely to file a claim, so insurers consider them higher-risk clients. In Louisiana, the cost of homeowners insurance will be greater if you have poor credit.
Personal Property Coverage Calculator
When figuring out how much renters insurance you need, experts recommend the standard $100,000 in liability insurance and enough personal property protection to cover your possessions. Use MoneyGeek's calculator to estimate the value of your possessions so you know how much personal property coverage to buy.
clothing & accessories
Clothes, shoes, bags, belts, hats, gloves, etc.
Average Cost of Home Insurance in Louisiana
Louisiana ranks among the most expensive states for homeowners insurance. The average annual cost of homeowners insurance in Louisiana for $250K of dwelling coverage is $4,552. Homeowners in the state could expect to pay around 88% more than the national average.
The following table provides a breakdown by dwelling coverage amount of the average cost of homeowners insurance in Louisiana. Review it if you want a higher or lower amount than $250K.
Average Annual Premium in Louisiana for Homeowners Insurance
| $100,000 | $2,198 |
| $250,000 | $4,552 |
| $500,000 | $9,628 |
| $750,000 | $15,066 |
| $1,000,000 | $20,174 |
| $2,000,000 | $40,794 |
| $3,000,000 | $61,493 |
MONEYGEEK EXPERT TIP
It is imperative to have sufficient dwelling coverage to cover the expense of rebuilding your home. However, before you go ahead and purchase homeowners insurance, it is essential to give some thought to the level of dwelling coverage you require.
The ultimate cost to replace your home is determined by a number of factors, some of which include the dimensions (height, square footage, etc.) of the home and labor costs. An appraiser can help you estimate reconstruction expenses.
Remember that an inaccurate home insurance estimate in Louisiana could result in significant additional expenses if you need to rebuild your home. For added protection, you can purchase extended replacement coverage or inflation guard coverage.
Average Cost of Home Insurance in Louisiana Cities
The cost of homeowners insurance may vary substantially based on your location. The following MoneyGeek table displays the average premium for several cities in Louisiana, revealing how much rates can vary from city to city.
Average Annual Premium in Louisiana Cities for Homeowners Insurance
| Baton Rouge | $1,552 | $3,285 |
| Metairie | $2,784 | $6,263 |
| New Orleans | $2,229 | $4,500 |
MONEYGEEK EXPERT TIP
If you are not concerned about pricing, MoneyGeek recommends purchasing homeowners insurance from Allstate because it is the best nationwide provider. To assist you in selecting the finest company for your needs, we have hand-selected the leading homeowners insurance companies for distinct profiles.
Frequently Asked Questions About Home Insurance in Louisiana
Your homeowners insurance premium in Louisiana can vary depending on your personal profile, residence and carrier. MoneyGeek has compiled answers to the most commonly asked questions regarding homeowners insurance in Louisiana to assist you.
How much does homeowners insurance cost in Louisiana?
The average cost of homeowners insurance in Louisiana is $4,552 for $250K of dwelling coverage. The cost is around 88% more than the national average, making Louisiana the second most expensive state for home insurance.
How do I know how much dwelling coverage to get?
Louisiana has an average dwelling coverage of $100,000, but the coverage you require could be less or more, depending on your house. The age, size, shape and other characteristics of your home influence the coverage needed. You can either consult your insurance provider or employ a qualified assessor to determine the dwelling coverage your home needs.
Insurance
Methodology
To determine the average cost of homeowners insurance in Louisiana, MoneyGeek sourced pricing data from Quadrant Information Services.
MoneyGeek chose a standard home profile to provide the most reliable and relevant data for developing a thorough analysis of homeowners insurance.
This standard home profile consists of the following attributes:
- Construction year: 2000
- Construction type: Frame
- Composition roof
- Three-mile radius of a fire department
- Assumed value of other structures on the property: 10% of the dwelling coverage
- Personal property coverage: 40% of the dwelling coverage
- Liability limit: $100,000
- Deductible: $1,000
About Mark Fitzpatrick
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.