Louisiana Homeowners Insurance Guide

Ask anyone about Louisiana and the first thing that pops into their minds is Hurricane Katrina. Although the hurricane’s devastation occurred more than three years ago, the state is still trying to recover. Its destruction uprooted the lives of countless families, with thousands of houses still waiting to be rebuilt and home insurance rates higher than ever. Obviously, Hurricane Katrina’s effect on home insurance rates in the state has been a tough pill to swallow for residents. Today, Louisiana is the third most expensive state in the country to purchase home insurance. The average homeowner’s insurance premium is over $1,250, which makes owning a decent policy extremely difficult, especially when some people are still struggling to find a place to live. Just like everyone else who is rebuilding their life in Louisiana, it is important not to give up hope.

Getting a Good Rate in Louisiana

Despite the difficult conditions, many people have managed to secure affordable house insurance rates in Louisiana. It will take some more work on your part, but there are definitely policies to be had out there. Here are some helpful tips for still attaining a good home insurance rate in Louisiana:

• Your first step to getting home insurance in Louisiana should be to shop around. In order to get a good policy and a low rate, you’ll need to contact multiple providers. If you can afford it, hire an insurance agent who can help you search for the right policy and negotiate with insurers. Also, take advantage of the internet and the very affordable quotes you can get it from online providers.
• Is your community located in one of the state’s high risk areas? If you live anywhere along the cost in Louisiana, you’ll probably find purchasing any type of home insurance is outrageously expensive. However, there are government insurance programs for those who cannot attain a standard policy. Contact the National Flood Insurance Program for more information.
• When contacting an insurance company, make sure you ask them about any discounts the company provides. There are all kinds of discounts out there for home insurance, you just have to know how to get them. Some involve installing extra forms of security, while others are for owning multiple types of insurance policies with the same company.
• If you’re willing to take a bit of a risk, consider taking out a policy with a higher deductible. Having large deductible should help lower your monthly premiums, but you’ll end up paying more if you ever need to put your insurance policy to use.
• Talk to an insurance provider about flood coverage for your area, but don’t expect to get a positive response. Most insurance companies still will not provide flood coverage in many parts of the state and those that do usually charge an exorbitant amount for it. However, it’s always worth asking and as time goes on, flood coverage will become more readily available.