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How to find affordable homeowners insurance in New Orleans

Home insurance is an important part of owning a home. Home insurance policies provide coverage against fire, wind damage, and theft for your home and the contents inside it. Given the relatively frequent occurrence of these incidents and the substantial cost of replacing a home, having a home insurance policy is a solid investment. The average homeowners policy costs $300 per month in New Orleans, Louisiana. This is more than double the national average monthly cost of home insurance.

 

The cost of homeowners insurance coverage is dependent on a number of factors. These include your dwelling's value, the value of your personal belongings, and the cost of the materials used to build your home. Your home's location can also impact how much you pay, as some locations are more prone to destructive hazards. If your area is at risk of being affected by hail, strong winds, fire, frozen pipes, or volcanic activity, then your premiums could be substantially higher than average. Discover more info about what a home insurance policy covers.

Finding affordable home insurance in New Orleans starts with shopping around and comparing policies. Have a look at the summary below comparing average home insurance premiums in New Orleans to help you get as much information as possible when you start your search for homeowners insurance. It's important to remember that the cost of your homeowners insurance is often based on the coverage limits you choose as well as a variety of other factors.

 
Table of contents:
  1. Rates by insurer
  2. Rates by coverage amount
  3. Rates by ZIP code
  4. Rates by deductible amount
  5. Policy bundling savings

 

New Orleans home insurance by company

What you pay for homeowners insurance in New Orleans will depend on the insurance company you get your policy through. The most affordable home insurance in New Orleans is State Farm offering average annual rates at just $1,220 per year. This is considerably cheaper than the city’s average homeowners premium of $3,603.

Have a look at the cheapest home insurers in New Orleans, Louisiana to find the right homeowners policy for you. You can also see our list of which home insurance carriers ranked best for customer satisfaction

 
AFFORDABLE HOME INSURERS IN NEW ORLEANS
Company Average Annual Rate
State Farm $1,220
Centauri Specialty $1,323
Gulfstream $2,064
Shelter $2,300
Allstate $3,137

 

New Orleans homeowners insurance prices by coverage level

Your chosen level of homeowners coverage determines the insurance premiums you pay. In New Orleans, carrying $200K dwelling coverage costs an average of $2,578, while carrying additional coverage up to $400K costs $5,124 per year.

 
POPULAR COVERAGE LIMITS IN NEW ORLEANS
Coverage Level Average Annual Rate
$100,000 Dwelling $1,599
$200,000 Dwelling $2,578
$250,000 Dwelling $3,423
$400,000 Dwelling $5,124

 

New Orleans home insurance rates by ZIP code

Not every area of New Orleans has equal home insurance premiums. Policies are often priced on local variables such as the number of claims filed in the immediate area, meaning the neighborhood in which you live could have a major impact on how much you pay to insure your home.

If you're looking for the cheapest homeowners coverage in New Orleans, take a look at the 70139 ZIP code. In the 70139 area, homeowners coverage usually costs just $3,407 per year, which is a full $195 less than the New Orleans average. The below table shows the best places to live in New Orleans if you’re looking for affordable homeowners insurance.

 
AFFORDABLE HOME INSURANCE AREAS IN NEW ORLEANS
ZIP Code Average Annual Home Insurance Rate
70139 $3,407
70125 $3,471
70131 $3,494

On the other hand, some areas of New Orleans face higher homeowners insurance costs, on average. Crime rates, fire risk, and even your proximity to emergency services could lead insurance companies to see certain neighborhoods as higher risk, which could drive up area rates. One of the costliest ZIP codes for home insurance in New Orleans is 70128, with an annual average rate of $3,892.

 
EXPENSIVE HOME INSURANCE AREAS IN NEW ORLEANS
ZIP Code Average Annual Home Insurance Rate
70128 $3,892
70127 $3,823
70126 $3,822

 

New Orleans homeowners insurance deductibles

Among the many options faced by homeowners when purchasing an insurance policy is how high to set the deductible. A homeowners deductible is how much your insurance requires you to pay out of pocket toward a claim. Where you set your deductible can be a large factor in the cost of your insurance coverage.

In general, choosing a low deductible means that your insurance premiums will be higher. This means that those seeking lower rates will want to think about getting a higher deductible. Remember that your deductible should only be as high as you can reasonably pay if you suffer a loss.

The table below outlines the typical premium costs affiliated with deductibles offered by most home insurers.

 
HOME INSURANCE PREMIUMS BY DEDUCTIBLE LEVEL IN NEW ORLEANS
Deductible Level Average Annual Homeowners Insurance Rate
$500 $3,614
$1,000 $3,423
$1,500 $3,349
$2,000 $3,204
$5,000 $2,941

 

Home and auto insurance bundling in New Orleans

To save a little money, you might think about bundling your homeowners and auto insurance policies through the same company. Bundling homeowners and auto insurance can be a good money-saving option. In fact, bundling policies in New Orleans leads to average annual savings of 9%.

 
CHEAPEST CAR INSURANCE RATES WITH HOME BUNDLE IN NEW ORLEANS
Company Avg. Annual Auto Insurance Rate (With Bundle)
Southern Farm Bureau $2,492
GEICO $2,620
Progressive $3,345
Allstate $3,729
State Farm $3,780

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Ross Martin photo
Ross MartinManager, Content Quality

Ross joined The Zebra as a writer and researcher in 2019. As a licensed insurance agent, he specializes in writing insurance content to help shoppers make informed decisions.

Ross holds a master's degree from Royal Holloway, University of London and has a background in copywriting and education. As a former teacher, he applies his educational skills to explain insurance concepts in ways that consumers can understand.

Ross's work has been cited by The New York Times, AxiosInvestopedia, The Simple DollarThe BalanceCar and Driver and Fox Business. He has been quoted by CNET, I Drive Safely and Kin Insurance

About The Zebra

The Zebra is not an insurance company. We publish data-backed, expert-reviewed resources to help consumers make more informed insurance decisions.