Average homeowners insurance cost in New Orleans, LA

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As per Insure.com’s rate data analysis, the average cost of homeowners insurance in New Orleans is $4,983 per year (for the coverage level of $300,000 for dwelling, $100,000 for liability protection and $1000 deductible), It’s $2,479 more than the national average of $2,504.

Homeowners insurance rates differ significantly from one home to another. Home insurance rates in New Orleans depend on several factors, including:

Size of your home
Age of your home
Amount of coverage you need
Location
Your credit score

Progressive is the cheapest homeowners insurance company in New Orleans with an average annual premium of $4,983 per year.

This guide covers everything from available coverage options to companies with the cheapest homeowners insurance rates in New Orleans. Keep reading to learn about the monthly cost of homeowners insurance in New Orleans, the cost for different dwelling coverage levels, and discover which companies provide the most affordable home insurance in New Orleans.

Key takeaways

In New Orleans, homeowners insurance costs $4,983 annually.
Progressive offers the most affordable homeowners insurance in New Orleans with an average annual premium of $1,443.
If you increase your dwelling coverage from $200,000 to $300,000, your annual home insurance premium will be $1,060 higher.

Average homeowners insurance cost in New Orleans per month

According to our rate analysis, homeowners in New Orleans pay an average of $415 per month. It’s $117 more than the state average of $298 and $206 more than the national average for home insurance across the United States.

In New Orleans, the cost of your homeowners insurance policy depends on the value of your home, location, and the coverage options you select.

Average homeowners insurance cost for a $200,000 house in New Orleans

In New Orleans, LA, homeowners pay an average of $3,923 annually for a $200,000 house. The amount you pay for home insurance each year depends on factors such as – natural disasters or events within your locality.

Some regions are more at risk for natural disasters, like floods, hurricanes, or tornadoes, implying higher rebuilding rates in these areas are higher, resulting in higher insurance premiums. It’s essential to note that your insurance policy might not cover damages caused by floods or hurricanes. If you reside in an area prone to flooding, consider buying flood insurance.

Average homeowners insurance cost for a $300,000 house in New Orleans

Based on a rate analysis conducted by Insure.com, New Orleans residents pay an average of $4,983 per year to insure a home for coverage limits of $300,000 dwelling, $100,000 liability with a $1,000 deductible. If you plan to increase your dwelling coverage from $200,000 to $300,000, you must pay an additional $1,060 per year for home insurance.

Buying adequate insurance to cover the entire expense of rebuilding your home is best advisable. However, the amount of dwelling coverage you need may vary depending on your home’s size, amenities, and the cost of living in your area.

Average homeowners insurance cost in New Orleans by Company

Among the carriers analyzed, Progressive is the cheapest homeowners insurance company in New Orleans. It’s average annual rate for New Orleans homeowners is $1,443. State Farm ranks second and Farmers makes it to the third spot with an average annual home insurance rate of $4,934.

Before choosing a homeowners insurance policy, it is important to do some research on the company. Our experts have analyzed all the insurance companies across New Orleans and prepared a list of the cheapest home insurance providers. You can find below the New Orleans home insurance companies and their average annual premium.

Home Insurance Company	Annual rate
Progressive	$1,443
State Farm	$4,332
Farmers	$4,934
Allstate	$5,985
USAA*	$5,792

Methodology

Insure.com, with the help of Quadrant Information Services, gathered data for homeowners insurance rates in New Orleans for $300,000 dwelling coverage and $100,000 liability coverage with a $1,000 deductible. The data presented are those with a good credit tier alignment.