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New Orleans, LA Homeowners Insurance Quotes (2023)
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Written by
Jackie Cohen
Editorial Manager
Jackie Cohen is an editorial manager at Insurify specializing in property & casualty insurance educational content. She has years of experience analyzing insurance trends and helping consumers better understand their insurance coverage to make informed decisions about their finances.Jackie's work has been cited in USA Today, The Balance, and The Washington Times.
Edited by
John Leach
Insurance Content Editor at Insurify
John Leach is an insurance content editor who has worked in print and online. He has years of experience in car and home insurance and strives to make these topics easy to understand for everyone. He has a linguistics degree from UC Santa Barbara.
Updated February 28, 2022
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New Orleans, LA Homeowners Insurance
People from all over the world come to New Orleans to enjoy its world-famous cuisine, take part in its vibrant Mardi Gras festivals and parades, and stroll along historic Bourbon Street, nestled in the heart of the French Quarter. People who come to New Orleans fall in love with its historic charm and atmosphere, and they never want to leave. If you visit New Orleans, don’t be surprised if you end up wanting to make it your new home!
New Orleans homeowners love to party, but they also know life in the Big Easy does not come without its challenges. No one here will ever forget the loss and devastation experienced in 2005 after the landfall of Hurricane Katrina. The failure of the city’s levee system resulted in flooding and damage that ultimately claimed 1,200 lives and cost more than $108 billion in property damage.
Homeowners in New Orleans understand the urgent need to protect their homes and properties with homeowners insurance. Insurify makes it a simple task to find the best home insurance and the cheapest home insurance rates.
You can easily find affordable Louisiana homeowners insurance with Insurify’s side-by-side homeowners insurance comparison tools in just minutes.
Cheapest Home Insurance Companies in New Orleans
For homeowners in New Orleans, it's important that you evaluate all of your potential insurance options to ensure you are finding the best rate. Comparing the right insurance companies will allow you to get the best possible insurance rate for your home.
To simplify comparing companies, Insurify has analyzed rates from top insurance providers in New Orleans. The following are the best insurance rates from carriers that offer homeowners insurance in New Orleans.
| Cheapest Companies | Quotes The car insurance quotes, statistics, and data visualizations on this page are derived from Insurify’s proprietary database of over 4 million car insurance applications from ZIP codes across the United States. Insurify’s data science team performs a comprehensive analysis of the various factors car insurance providers take into account while setting rates to provide readers insight into how car insurance quotes are priced. |
|---|---|
| Progressive | $2,333 |
| USAA | $2,486 |
| AIG | $2,615 |
| Metropolitan | $3,065 |
| Encompass | $3,073 |
How to Find Cheap Home Insurance in New Orleans
Buying a home may be one of the largest financial investments of your lifetime. Culturally diverse New Orleans has many beautiful properties to invest in, which would all make wonderful family homes. With investment, inevitably, comes risk. However, there are steps New Orleans homeowners can take to minimize risk and protect their investments.
The first step to protecting your property is homeowners insurance. Though not required by law, home insurance provides financial liability for your property and belongings from natural disasters or theft. Different coverage levels are available for different property types, locations, and other factors. One easy way to save on the cost of homeowners insurance is with home and auto insurance bundles.
Use Insurify to compare home insurance quotes, and find cheap homeowners insurance today!
Keep reading for a full guide on New Orleans home insurance.
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Cheapest Home Insurance in New Orleans by Company
Homeowners insurance rates aren’t always designed with savings in mind. That’s where Insurify comes in. Our free home insurance comparison tool allows you to find the best policy for the best rate fast. And your information stays private and protected.
As of 2021, the average home insurance premium in New Orleans costs $4,092 annually, and the median home value is $240,091.
New Orleans homeowners are cost-savvy and know a good value when they see it! Here are some of the average annual insurance premiums for Louisiana home insurance listed by company.
| Average Home Cost in New Orleans The car insurance quotes, statistics, and data visualizations on this page are derived from Insurify’s proprietary database of over 4 million car insurance applications from ZIP codes across the United States. Insurify’s data science team performs a comprehensive analysis of the various factors car insurance providers take into account while setting rates to provide readers insight into how car insurance quotes are priced. | Average Annual Insurance Premium in New Orleans The car insurance quotes, statistics, and data visualizations on this page are derived from Insurify’s proprietary database of over 4 million car insurance applications from ZIP codes across the United States. Insurify’s data science team performs a comprehensive analysis of the various factors car insurance providers take into account while setting rates to provide readers insight into how car insurance quotes are priced. |
|---|---|
| $240,091 | $4,092 |
Average Annual Home Insurance Premium in New Orleans by Company
Average prices for standard homeowners insurance for a 7-15 year old home, $200,000 in coverage
Progressive$2,333
USAA$2,486
AIG$2,615
Metropolitan$3,065
Encompass$3,073
Liberty Mutual$3,584
State Farm$3,766
Stillwater$3,855
Travelers$5,693
Shelter$7,102
Cheapest ZIP Codes in New Orleans for Home Insurance
New Orleans has faced its fair share of natural disasters, but taking steps to minimize risk factors can go a long way in protecting homes and belongings against loss.
Like property costs, home insurance varies in price from city to city. Pricing is determined by ZIP code–specific variables, such as the volume of claims filed nearby, crime rates, and property costs, and risk variables, such as natural disaster frequency. Even your specific neighborhood may determine if you pay more or less on our annual premiums.
Rates in New Orleans can be relatively high or low compared to the national average; it all depends on which area you live in.
Home Insurance Coverage Types in New Orleans
There are several types of home insurance. Specific terms of insurance policies may vary by city, but in general, the standard policy types are as follows:
The simplest and least comprehensive type of homeowners insurance
Provides coverage for a handful of potential problems, including
- Dwelling coverage for damages from some natural disasters (storms, fires, wind, lightning, volcanic eruption),
- explosions,
- theft,
- damage from vehicles,
- or civil commotion.
Broad form homeowners insurance policies include all basic form coverage, plus protection from:
- falling objects,
- damage from the weight of ice, snow, or sleet,
- freezing of household systems including HVAC and pipes,
- sudden and accidental damage to pipes and other household systems from artificially generated electrical current,
- accidental discharge or overflow of water or steam,
- sudden and accidental damage.
HO-2 policies typically cover both dwelling protection and personal property.
In some cases, broad form coverage may also include liability coverage. However, it still only covers the specific damages listed in the policy.
The most common form of homeowners insurance is known as a “special form” policy.
While HO-1 and HO-2 policies are “named peril” policies (meaning they only cover dangers that are specifically listed in the policy), HO-3 policies are “open peril” policies meaning they’ll cover all dangers except those specifically excluded in the policy documents.
HO-4 policies, also known as renters insurance, are for people who lease rather than own their homes.
Tenant’s form policies typically cover all the same dangers as HO-2 policies.
These policies include personal property coverage and liability coverage but don’t cover the physical structure of the house.
Some HO-4 policies may also include loss of use coverage for the tenants.
Comprehensive form policies are usually the broadest and provide the highest level of coverage; not surprisingly, they also tend to be the most expensive type of homeowners insurance policy.
The biggest difference between HO-3 and HO-5 policies is that most HO-3 policies are “actual cash value” policies, whereas typically HO-5 policies are “ replacement cost value” policies.
An actual cash value policy will only reimburse you for the actual value of a damaged or destroyed item, while a replacement cost value policy will reimburse you for however much it would cost to completely replace or repair the damaged or destroyed item (up to the coverage limits on the policy).
HO-5 policies also provide personal property coverage against a wider range of dangers than the typical HO-3 policy. Many HO-5 policies also have extra coverage for high-value personal property, such as jewelry and artwork.
Not surprisingly, condo form insurance is for condominium owners. HO-6 policies generally protect against the same types of dangers as HO-3 policies.
They provide dwelling protection coverage with a twist: HO-6 policies cover the walls, floors, and ceiling of the condo unit but not the rest of the building.
These policies also include personal property and liability coverage and may include loss of use coverage.
If you own a mobile home or manufactured home, you likely have an HO-7 policy.
Mobile home form policies are typically identical to HO-3 policies, except they’re designed specifically for mobile and manufactured homes.
Like HO-3 policies, they provide dwelling protection coverage, other structures coverage, personal property coverage, liability coverage, and possibly loss of use coverage as well.
HO-7 policies generally only protect the home when it’s stationary; if you plan to move your mobile or manufactured home, you’ll need to get a special policy to cover it while it’s in transit.
Older homes have generally been built to less stringent code standards than recently built homes, and so insurers have designed a specialized type of homeowners insurance policy for them.
HO-8 policies often only cover the basic perils listed in HO-1 policies and generally apply to homes that are registered landmarks or otherwise deemed historic homes.
Owners of registered landmarks are typically forbidden from making the updates to HVAC, electrical, and other parts of the home that would enable them to qualify for a standard HO-3 policy, so an HO-8 policy is often the only option for them.
For more detailed Louisiana city level guides, check out these below.
Flood Insurance Policies in New Orleans
After the devastation of Hurricane Katrina, every New Orleans resident is extremely aware of the damage to homes and properties flooding can cause. Flooding is a common occurrence for New Orleans and surrounding areas, including Kenner and Metairie. But flooding happens not only during hurricanes in New Orleans. Streets can quickly become flooded by rain, entering homes after a simple thunderstorm and causing extensive damage.
Flood insurance is essential coverage for homes in New Orleans. It can pay for flood damage to homes and properties, giving New Orleans homeowners peace of mind. Homeowners can purchase a flood insurance policy through the National Flood Insurance Program (NFIP). Your local insurance agent can give you more details about the amount of coverage you may need.
Protecting New Orleans Homes from Vandalism
Property crimes, such as vandalism and theft, leave homeowners feeling shaken and at a loss. It is disheartening to discover you’ve become the victim of vandalism. Large cities in Louisiana, such as New Orleans, Shreveport, or Baton Rouge, commonly experience property damage crimes such as vandalism. Vandalism can cover many acts, such as spray-painting graffiti on a garage or wall, smashing in mailboxes, breaking windows, or destroying landscaping. Homeowners coverage can offer some protection against vandalism. If someone else intentionally damages your property, it is considered vandalism, and the property damage you suffer is covered, subject to your deductible amount.
How to Find the Cheapest Home Insurance in New Orleans
Finding the best homeowners insurance for your New Orleans property doesn’t have to be complicated. Tell us a little about yourself, and you can have a homeowners quote with the best coverage available in only minutes!
Use Insurify to find the best home insurance comparison sites for your property in New Orleans.
Frequently Asked Questions
Louisiana homeowners face frequent threats from wind damage during hurricane season. Your homeowners policy provides some protection against wind damage; however, in some cases, insurance companies can exclude coverage for wind damage. If your policy does cover damage from windstorms, it can help pay for wind damage to your home’s structure and your personal belongings. It is best to read your homeowners policy thoroughly and ask your insurance agent any questions if you are unsure of what is covered by your policy.
If you have expensive personal belongings, such as furs, jewelry, or computer equipment, you want to make sure they are properly protected against risks such as theft and fire. While homeowners policies do provide a certain amount of protection for your contents, it may not be adequate for expensive items. These items can be scheduled on your homeowners policy through a policy endorsement, a.k.a. A policy rider, for an additional premium.
USAA is a well-known insurance provider, providing home, auto, and other types of insurance coverage to active and retired military personnel, their dependents, and family members. USAA offers homeowners coverage in Louisiana. In addition to its record of excellence in customer service, USAA also offers attractive discounts to homeowners, including a protective device discount, continuous coverage discount, and bundling discount. USAA also rewards its members for staying claims-free with a 10 percent discount on your homeowners policy if you’ve had no claims for five years or more.
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