It might seem odd to spend so much money for homeowners insurance when nearly half of Louisianans are spending more than 30% of their income on rent and utilities. Yet, we must remember that a policy protects our most valuable asset - our homes! The best way to make sure you're financially secure in the event of a loss to your Louisiana home is to purchase the lowest homeowners insurance.
The Hanover
The Hanover is a large holding company that includes several Property and Casualty insurance companies. It is the country's largest insurance company and offers a wide range of insurance products. Customers have complained about the quality of customer service and claims, despite its financial strength. NerdWallet rates homeowners' insurance companies on their customer satisfaction levels and consumer complaints. Review a company if you have negative experiences with them.
USAA is the second-cheapest plan
If you're looking for the cheapest homeowners insurance plan in Louisiana, USAA is one of your options. The average USAA policy price is $1724, which makes it cheaper than the national median of $1796. USAA premiums tend to be slightly higher than the Allstate and State Farm policies. These costs assume that a homeowner is 40 years old and has a $300,000 deductible.
USAA is a FAIR Plan
FAIR Plans, which are government programs, provide insurance for homes located in high-risk regions. These areas can be high in crime and are prone to natural disasters. They could also have high numbers of claims or be in dire need of repairs. FAIR Plans may also require you to take extra steps to make your home more appealing. You may have to install an emergency alarm system or change the wiring in your home.
The Hanover offers service line coverage, water backup coverage and guaranteed replacement cost coverage
The Hanover has a wide range of homeowner coverage options. It offers homeowners insurance that includes deductible waivers and multiple insured items. The policy covers many types of damages. You can also file a claim online if you have to.