New Orleans Homeowners Insurance
Find the right homeowners insurance policy for you.
Written by
Ann Herro has been writing about insurance and employee benefits for over 15 years. She has covered topics as easy as insuring a car, and as difficult as transparency in healthcare costs.
The "Big Easy" is world-famous for its cuisine, culture, music and historical significance. Artists, musicians, and writers have been drawn to this city for more than a hundred years. If you are one of the many people that call New Orleans home, you are likely supremely aware of the devastation that Mother Nature can inflict on this city. As a homeowner, you will want to be sure to protect your property and your finances with a suitable New Orleans, LA homeowners insurance policy.
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Cost of Homeowners Insurance in Louisiana
- National yearly premium average: $1,034
- Louisiana yearly premium average: $1,742
- 2nd most expensive premium in the US
Of course, the rates listed above are just averages. Rates for home insurance can vary significantly from one house to the next. Your particular rates will be determined based on a number of factors, including:
- The value and structural build of your home
- The amount of coverage purchased
- The risks inherent in your ZIP code
- Your claims history.
- The insurance company you choose
What Does New Orleans Homeowners Insurance Cover?
Homeowners insurance policies can vary a bit according to the company you choose and the coverage options you purchase. With most policies, however, you can expect to receive compensation for loss or damage to your personal property and to the structure of your home, including outlying structures such as sheds and detached garages. Your homeowners insurance will also provide personal liability coverage if someone is injured on your property or if you are sued for libel or slander.
If you own any very expensive items such as antiques, artwork, or family heirlooms, you may need to purchase additional riders, or endorsements, in order to ensure that they are fully covered. Some insurance companies may also require you to purchase additional riders for coverage against certain perils such as hail or wind damage.
Nobody needs to tell New Orleans residents about the risk of floods. As the city sits below sea level, this is a constantly looming threat. As most people learned post-Katrina, homeowners insurance does not cover any damage that results from flooding. For this, you will need to purchase a flood insurance policy through the NFIP. If you don’t already have one, a network representative can help you secure a New Orleans flood insurance policy to supplement your home insurance.
Number of Thefts in Louisiana:
- National average for burglaries: 37,814
- Louisiana number of burglaries: 41,184
The type of theft that most concerns homeowners is burglary, and New Orleans’ burglary rate is much higher than the national average. Given these high numbers, it is best to practice caution and keep your home locked and secure. In the event that your home is targeted by burglars, contact the police right away and be sure to get a copy of the police report. Afterward, contact your insurance agent or call your insurance company directly to report the crime. Your home insurance policy will provide compensation for your lost property as well as for any damage done to your home during the course of the robbery.
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Number of Catastrophes in Louisiana:
- National number of catastrophes: 19,033
- Number of catastrophes in Louisiana: 369
- National number of tornadoes: 1,233
- Number of tornadoes in Louisiana: 29
- National property damage from weather: $5,511,270,000
- Property damage from weather in Louisiana: $10,240,000
As residents of New Orleans know, weather can play a key role in causing the destruction of homes and possessions. The greatest risks faced by the people of New Orleans are:
- Hurricanes: New Orleans is a port city along the Gulf of Mexico. This makes it vulnerable to hurricanes and tropical storms. These storms do not always bring along the complete devastation that Katrina did, but their heavy winds frequently cause damage to homes and roofs.
- Floods: In a city that is below sea level, floods are a constant concern. Home insurance policies do not include coverage against floods so you will need to purchase a New Orleans flood insurance policy as well.
- Hail: Hailstorms in this area typically include hail that is less than 1 inch in diameter so damage is usually minimal. A hailstorm can damage your roof so it is a good idea to have your roof inspected following one of these storms.
- Tornadoes: Tornado activity in the New Orleans area is 86 percent higher than the national average. Tornadoes can rip roofs off homes and can cause complete destruction. Your home insurance policy should include coverage against the damage a twister can bring.
Comprehensive New Orleans home insurance coupled with an NFIP-backed flood insurance policy should be sufficient to shield you from the financial hardships that weather-related damage to your home can produce.
Get New Orleans Homeowners Insurance at a Great Rate
In many cases, you can save money on your homeowners insurance policy by taking preventive measures such as installing deadbolt locks on all outside doors and having burglar and smoke alarms that automatically notify authorities when they are activated. Some insurance companies also offer discounts for such things as having multiple policies with them or even for being a smoke-free residence. Always be sure to ask about any offered policy discounts.
When you are shopping for homeowners insurance policies, it is best to obtain a minimum of three policy quotes. That way, you can be sure that the coverage you are purchasing comes at a reasonable rate. You can save time by allowing an independent agent our network to do your comparison shopping for you. Member agents can use their relationship with several different insurance companies to provide you with a variety of customized and competitively priced New Orleans home insurance quotes.