The small town of Golden Meadow is home to about 2,000 people. If you have purchased a house in this low-crime, community-centric coastal town, a solid homeowners insurance policy can cover you against the hazards that are common in Louisiana.
Local independent agents can help you find the best and most affordable policy to cover your Golden Meadow home. Contact an insurance agent near you to get answers to your insurance-related questions and to start comparing a variety of customized homeowners insurance quotes.
How Much Does Homeowners Insurance Cost in Golden Meadow, LA?
Because of the severe weather risks in Louisiana, the average cost of homeowners insurance in this state is higher than the national average.
- National average yearly premium: $1,211
- Louisiana average yearly premium: $1,968
Your actual costs will be influenced by factors such as the following.
- The age, value, and size of your house
- The type of home you are insuring (e.g., single-family detached house, mobile home, rental property, etc.)
- The number of stories in your house
- The crime rate and weather risks in your ZIP code
- Your claims history and credit score
- The size of your deductible
- Whether you are bundling your coverage with other policies like car insurance or boat insurance
Every insurance company has its own way of calculating rates. Comparing a few different quotes lets you choose the policy that offers the coverage you want at the most affordable price.
What Hazards Are Covered by Golden Meadow Home Insurance?
Home insurance policies are designed to pay to repair or replace your property if it is lost or damaged by a covered event. Dwelling insurance covers the structure of your house while contents insurance covers your personal property.
Golden Meadow residents are most at risk for loss or damage caused by these events.
- Tropical storms
- Accidental fires
With the exception of floods, each of these hazards is covered by most home insurance policies. This can prove very beneficial in the Pelican State. In fact, Louisiana homeowners collected more than $700 million in insurance claims alone in one recent year.
What about Coverage against Floods?
Homeowners insurance does not cover flood damage. Unfortunately, with its proximity to the Gulf of Mexico, Golden Meadow has a serious risk of flooding.
FloodFactor.com has determined that 99% of all properties in this town have a significant risk of sustaining flood damage.
In fact, Golden Meadow residents experience an average of $912,600 worth of flood damage a year, and this number is expected to increase to $3.7 million a year by 2050. That is why having flood insurance is so important.
Affordable flood insurance policies are available through the National Flood Insurance Program (NFIP), which is managed by FEMA. These insurance policies take 30 days to go into effect so you should not wait until a hurricane is headed toward the Gulf to purchase coverage.
Save on Home Insurance
Our independent agents shop around to find you the best coverage.
What Is Loss of Use Insurance?
Loss of use insurance is included in most homeowners insurance policies. It is designed to cover related expenses if your home is rendered uninhabitable following a covered event.
For instance, if your house burns to the ground or is severely damaged in a windstorm, loss of use insurance can cover expenses like the following.
- Temporary accommodations in a hotel or rental unit while repairs are made or while you search for a new home
- Boarding costs for pets
- Moving expenses
- A meal allowance if your temporary accommodations do not include a kitchen
It is a good idea to review what the loss of use coverage provided by your insurance policy does and does not cover before a disaster strikes so that there are no surprises when you need to use it.
Why Is Liability Insurance Important for Golden Meadow Homeowners?
Liability insurance is included in every home insurance policy. It is designed to cover court costs, legal fees, settlements, judgements, and other related expenses if you or someone in your household is responsible for unintentional injuries, financial losses, or property damage to others.
Here are some examples of times your homeowners liability coverage may prove beneficial.
- A guest in your home is badly injured in an accident that can be attributed to negligence on your part.
- You unintentionally injury someone while away from home such as while playing softball at Oak Ridge Community Park.
- Your dog gets loose and bites someone.
- Someone accuses you or a member of your household of libel or slander.
Most insurance companies offer between $100,000 and $300,000 in homeowners liability coverage. If you want even more liability protection than your policy can provide, you can boost your coverage by purchasing an affordable umbrella insurance policy.
Does Golden Meadow Homeowners Insurance Cover against Burglaries?
The burglary rate in Golden Meadow is higher than the national rate but lower than the state rate. In one recent year, residents of this town reported eight burglaries.
- Number of burglaries per 1,000 homes in the US: 3.76
- Number of burglaries per 1,000 homes in Louisiana: 6.68
- Number of burglaries per 1,000 homes in Golden Meadow: 4.03
It is worth noting that one year was an outlier as there were zero reported burglaries in the four years preceding it. In fact, this town has been named by Neighborhood Scout as having one of the lowest property crime rates in the county.
Whatever the risk, you may find it reassuring to know that if someone breaks into your house and steals your valuable property, your homeowners insurance can reimburse you for your losses and can cover any damage the thief may have done to your home.
Why Work with an Independent Insurance Agent?
The easiest way to find the best and most affordable coverage for your Golden Meadow home is by working with a local independent agent. These agents work for you, not for a specific insurance company, so they are free to shop around to find you reliable coverage at the most competitive price.
Are you are ready to start comparing customized homeowners insurance quotes? If so, arrange an obligation-free consultation with an independent insurance agent near you.
©2021, Consumer Agent Portal, LLC. All rights reserved.