Best homeowners insurance in New Orleans, LA (2024)

We looked at average costs, customer service ratings, and policy options from multiple top insurers to find the best and cheapest home insurance companies in New Orleans.

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By

Andrew HurstSenior Editor & Licensed Auto Insurance ExpertAndrew Hurst is a senior editor and a licensed auto insurance expert at Policygenius. His work has also been featured in The New York Times, The Wall Street Journal, Forbes, USA Today, NPR, Mic, Insurance Business Magazine, ValuePenguin, and Property Casualty 360.

Edited by

Pat HowardPat HowardManaging Editor & Licensed Home Insurance ExpertPat Howard is a licensed insurance expert and managing editor at Policygenius. Pat has written extensively about the home insurance industry and his insights as a subject matter expert have appeared in several top tier publications, including The New York Times, The Wall Street Journal, CNBC, and Reuters. Pat has a bachelor's degree in journalism from Michigan State University.
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Reviewed by

Pat HowardPat HowardManaging Editor & Licensed Home Insurance ExpertPat Howard is a licensed insurance expert and managing editor at Policygenius. Pat has written extensively about the home insurance industry and his insights as a subject matter expert have appeared in several top tier publications, including The New York Times, The Wall Street Journal, CNBC, and Reuters. Pat has a bachelor's degree in journalism from Michigan State University.

Updated|5 min read

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With hurricanes and tropical winds blowing through the city of New Orleans on a yearly basis, a quality home insurance policy is vitally important — and may be tough to find.

The average cost of homeowners insurance in New Orleans is $2,805 per year, but you may be able to find cheaper options by shopping around and comparing quotes before you buy.

Compare home insurance rates in New Orleans

Compare the best cheap homeowners insurance companies in New Orleans

Based on our analysis of companies offering home insurance in the Big Easy, the best homeowners insurance companies in New Orleans are State Farm, Allstate, and Farm Bureau.

To find the best cheap homeowners insurance in New Orleans, we rated over a dozen of the largest insurance companies in Louisiana across several categories, such as average policy cost, financial strength ratings with AM Best, customer and claims satisfaction scores with J.D. Power, available policy options, and more.

Company

Average monthly cost

Policygenius rating

State Farm

$136

4.8 out of 5

Compare quotes

Allstate

$176

4.4 out of 5

Compare quotes

Farm Bureau Insurance

$66

3.9 out of 5

Compare quotes

Methodology & why you can trust our rates

Policygenius has analyzed home insurance rates provided by Quadrant Information Services in March 2022 for ZIP codes in all 50 states plus Washington, D.C., for a 40-year-old female homeowner with no claim history, good credit, a $1,000 deductible, and the following coverage limits:

  • Dwelling: $300,000

  • Other structures: $30,000

  • Personal property: $150,000

  • Loss of use: $60,000

  • Liability: $300,000

  • Medical: $1,000

All rates based on the above coverage limits except where otherwise noted.

Some carriers may be represented by affiliates or subsidiaries. Rates provided are a sample of costs. Your actual quotes may differ.

Compare home insurance rates in New Orleans

Best overall home insurance in New Orleans: State Farm

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2024 Policygenius award winner

State Farm

State Farm logo

Policygenius rating 

Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.

Full orange starFull orange starFull orange starFull orange starHalf orange star

4.8

AM Best rating 

AM Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).

A++

Cost 

Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).

$

$

$

$

$

Bundle home & auto

Offers extended replacement cost

Offers flood insurance

Offers earthquake insurance

Wind/hail deductible

Offers wildfire insurance

Why we chose itchevron icon

State Farm is the best home insurance company in New Orleans thanks to its very affordable rates, large selection of policy options, high customer service marks, and industry-best financial stability ratings.

Pros and conschevron icon

Pros

  • Top-tier coverage add-ons, including extended replacement cost coverage

  • High customer satisfaction and financial strength ratings

  • Offers large discounts when you bundle your home and auto insurance

Cons

  • No discounts for first-time homebuyers

More detailschevron icon

Why we chose State Farm

Whether you're looking for affordability or dependability, State Farm is the best homeowners insurance company in New Orleans.

State Farm is one of a few companies in New Orleans that offers affordable home insurance. And while the State Farm doesn't have as many discounts as other insurers, you may get a large discount if you bundle home and auto insurance with State Farm.

Besides cheap rates, State Farm also offers homeowners replacement cost coverage for their homes, replacement cost coverage for their personal property, water backup protection, and more.

State Farm's customer service is highly rated, too. The company has received high ratings from policyholders, according to J.D. Power’s 2022 customer satisfaction, claims, and digital experience surveys. It has also received the highest rating possible from A.M. Best for financial strength and stability.

How do State Farm home insurance rates compare to the New Orleans average?

The average cost of home insurance from State Farm in New Orleans is $1,626 per year, which 42% cheaper than the citywide average.

How to get a quote

Online through State Farm or by contacting your local State Farm agent.

Best home insurance for coverage options: Allstate

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2024 Policygenius award winner

Allstate

Allstate logo

Policygenius rating 

Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.

Full orange starFull orange starFull orange starFull orange starHalf orange star

4.5

AM Best rating 

AM Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).

A+

Cost 

Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).

$

$

$

$

$

Bundle home & auto

Smart home discounts

Why we chose itchevron icon

If you're looking for a dependable company with highly rated customer service, Allstate might be the best home insurance company for you. The company also has a long list of discounts and a few useful add-ons.

Pros and conschevron icon

Pros

  • Receives few complaints compared to other insurers

  • Extensive list of discounts and policy features to lower your bill and out-of-pocket costs

  • Offers HostAdvantage — an excellent short-term rental coverage add-on that can be seamlessly added to any policy.

Cons

  • Beginning to pull back coverage in high-risk areas

  • Customer experience scores with J.D. Power are below the segment average

More detailschevron icon

Why we chose Allstate

Allstate is the best home insurance company in New Orleans for highly rated customer service and strong financial strength. According to the National Association of Insurance Commissioners, Allstate receives about half as many complaints as expected.

You can also add a few useful coverage offerings to a basic Allstate home insurance policy. These include water backup protection, scheduled personal property coverage, short-term rental insurance, the Claim RateGuard perk that keeps your rates the same after a claim, and more.

How do Allstate home insurance rates compare to the New Orleans average?

The average annual cost of an Allstate home insurance policy in New Orleans is $2,107 per year, which is about 25% cheaper than the citywide average.

How to get a quote

Online through Policygenius or Allstate, or by contacting a local Allstate agent.

Best home insurance for cheap coverage: Farm Bureau

award icon

2024 Policygenius award winner

Farm Bureau

Farm Bureau Financial Services logo

Policygenius rating 

Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.

Full orange starFull orange starFull orange starHalf orange starEmpty gray star

3.9

AM Best rating 

AM Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).

A

Cost 

Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).

$

$

$

$

$

Bundle home & auto

Why we chose itchevron icon

Louisiana Farm Bureau has the cheapest home insurance rates in New Orleans. The company also offers exceptional customer service and the option to bundle a slew of insurance policies on top of just home insurance to save more money on coverage.

Pros and conschevron icon

Pros

  • Excellent customer service score and receives few complaints

  • Excellent financial strength rating from A.M. Best, proving it likely has the funds to pay out claims in the wake of a natural disaster

  • Most affordable rates in New Orleans

Cons

  • Need to have a Farm Bureau membership to purchase insurance

More detailschevron icon

Why we chose Farm Bureau

Homeowners in New Orleans can get the best rates on home insurance from Farm Bureau. We found that the average cost of coverage in New Orleans from Louisiana Farm Bureau is just $788 per year — nearly three quarters cheaper than the citywide average.

While Farm Bureau's rates are cheap, there's not much room to customize a basic policy. That said, if you bundle your home insurance with another policy — including auto, life, commercial, and ranch insurance — you could receive a bundling discount.

How do Farm Bureau home insurance rates compare to the New Orleans average?

The average cost of Farm Bureau home insurance in New Orleans is $788 per year, which is about 72% cheaper than the average annual premium in the city.

How to get a quote

By contacting a local Farm Bureau agent

How much is homeowners insurance in New Orleans?

The average cost of homeowners insurance in New Orleans is $2,805 per year, or $234 a month, for an insurance policy with $300,000 in dwelling coverage. This means insurance in New Orleans is 49% cheaper than the national average.

New Orleans home insurance rates by ZIP code

The cost of homeowners insurance can depend in part on where in New Orleans you live. We found the average cost of home insurance in the city's most populated ZIP codes. Of these ZIP codes, 70126 has the cheapest rates and 70114 has the most expensive.

ZIP code

Average annual cost

Difference from state average (%)

70119

$2,820

15%

70122

$2,640

8%

70118

$2,797

14%

70115

$2,802

14%

70126

$2,639

8%

70131

$3,015

23%

70117

$2,850

16%

70127

$2,640

8%

70128

$2,644

8%

70114

$3,033

24%

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Cheapest ZIP codes for home insurance in New Orleans

We found that the cheapest home insurance in the entire city can be found in the 70126 ZIP code. The average cost of homeowners insurance here is $2,639 per year, still 8% higher than average in the state of Louisiana.

ZIP code

Average annual cost

Difference from state average (%)

70126

$2,639

8%

70122

$2,640

8%

70127

$2,640

8%

70128

$2,644

8%

70124

$2,646

8%

70129

$2,650

8%

70125

$2,787

14%

70118

$2,797

14%

70115

$2,802

14%

70130

$2,812

15%

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Most expensive areas for homeowners insurance in New Orleans

We found that the most expensive homeowners insurance in New Orleans can be found in the 70114 ZIP code. On average, the cost of homeowners insurance here is $3,033 per year, 24% higher than the statewide average.

ZIP code

Average annual cost

Difference from state average (%)

70114

$3,033

24%

70131

$3,015

23%

70148

$2,918

19%

70117

$2,850

16%

70116

$2,848

16%

70145

$2,843

16%

70146

$2,843

16%

70163

$2,843

16%

70170

$2,840

16%

70113

$2,835

16%

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Learn more >> Home insurance rates by ZIP code

New Orleans home insurance costs by coverage amount

Dwelling coverage is the section of your insurance policy that covers the cost to repair or rebuild your home after a covered loss. Your dwelling coverage limit should be equal to your home’s replacement cost, the amount it would take to rebuild your house from the ground up — not its market value or purchase price. 

As shown in the table below, more dwelling coverage means higher home insurance rates. In New Orleans, a policy with $100,000 in coverage has an average cost of $1,226 per year, while a policy with $500,000 in coverage has an average yearly cost of $4,513.

Dwelling coverage limit

Average annual cost

$100,000

$1,226

$200,000

$1,854

$300,000

$2,805

$400,000

$3,646

$500,000

$4,513

New Orleans home insurance costs by deductible amount

Your homeowners insurance deductible is the amount you pay on your claim before your insurance kicks in to cover the rest. It may seem like a cost-effective decision to opt for a low deductible to save money on claims, but keep in mind that your monthly or annual premium payment will be far higher.

As seen in the table below, New Orleans residents can save an average of $320 on home insurance by choosing a $2,000 deductible over the $500 option.

Deductible

Average annual cost

$500

$1,683

$1,000

$1,876

$2,000

$1,363

Cheapest homeowners insurance companies in New Orleans

We found that the absolute cheapest homeowners insurance companies in New Orleans are Farm Bureau, Armed Forces Insurance, Bankers Insurance, State Farm, and Allstate. The company with the cheapest rates for you depends on where you live and other factors to do with your home and insurance record.

Company

Average annual cost

Farm Bureau Insurance

$788

Armed Forces Insurance

$1,071

Bankers Insurance Group

$1,215

State Farm

$1,626

Allstate

$2,107

New Holdings Group

$2,297

Shelter Insurance

$2,844

The Hanover

$4,107

USAA

$4,583

Lighthouse Property Insurance

$5,571

Foremost

$5,934

Access Home Insurance

$6,893

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Wind mitigation discounts & incentives in Louisiana

Many home insurance companies offer wind mitigation discounts if your home is outfitted with features to withstand high winds and flooding caused by a hurricane or strong windstorm. In Louisiana, you can save between 20% and 52% on the wind portion of your home insurance policy by installing Fortified Roof and Fortified Home elements to your home.

Other incentives include:

  • Retrofit tax deduction: Deduct up to $5,000 or 50% of the cost of mitigating your homes to reduce wind or flood damage — whichever is less — off your state taxes

  • Louisiana Citizens Property Insurance rebate: Get a refundable income tax credit if you paid the LA Citizens assessments in addition to your home insurance premium

→ Learn more about wind mitigation discounts & how to qualify

Cheapest home insurance in New Orleans if you have poor credit

Your credit score can impact your home insurance rates. Homeowners with poor credit scores are viewed by insurance providers as higher risk, so they’ll often be charged expensive rates as a result.  

With an average rate of $788 per year, Farm Bureau has the cheapest home insurance rates in New Orleans for homeowners with poor credit.

Company

Average annual cost

Farm Bureau Insurance

$788

Armed Forces Insurance

$1,833

Bankers Insurance Group

$1,998

New Holdings Group

$2,297

State Farm

$2,766

Allstate

$3,530

Shelter Insurance

$3,549

The Hanover

$5,140

USAA

$6,008

Access Home Insurance

$6,893

Lighthouse Property Insurance

$7,754

Foremost

$11,398

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Cheapest home insurance in New Orleans if you have an older home

It can be costly to insure older homes since they're more prone to structural damage than newer homes. They're also often constructed with materials and features that would be more expensive to replace after a claim.

With an average annual premium of $788, Farm Bureau offers the cheapest home insurance rates for an older home in New Orleans.

Company

Average annual cost

Farm Bureau Insurance

$788

Armed Forces Insurance

$1,252

Bankers Insurance Group

$1,297

State Farm

$1,626

Allstate

$2,107

New Holdings Group

$2,452

Shelter Insurance

$2,844

The Hanover

$4,677

USAA

$5,634

Foremost

$6,032

Access Home Insurance

$6,893

Lighthouse Property Insurance

$7,939

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Cheapest homeowners insurance in New Orleans if you have a history of claims

Having a history of claims is one of the most likely reasons why your rates could be expensive. If you have multiple claims on your record, insurers will think you're more likely to file future claims than a homeowner without any past claims.

Farm Bureau offers the cheapest home insurance rates in New Orleans for a homeowner that's filed three claims within a five-year period.

Company

Average annual cost

Farm Bureau Insurance

$788

State Farm

$1,853

Armed Forces Insurance

$1,966

Bankers Insurance Group

$2,111

New Holdings Group

$2,297

Allstate

$3,458

FedNat

$3,568

Shelter Insurance

$4,253

The Hanover

$4,913

UPC Insurance

$5,221

USAA

$6,450

Access Home Insurance

$6,893

Foremost

$8,577

Lighthouse Property Insurance

$9,113

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Coverage options in New Orleans

When looking at how much each insurance company charges for different coverage levels and risks, you should also be aware of what your policy does and doesn’t cover.

Before you buy homeowners insurance in New Orleans, be sure you're protected against flooding and windstorms.

Flood insurance

New Orleans is a low-lying city that's vulnerable to flooding, but flooding damage isn't covered by normal home insurance policies. If your home is one of the properties in Orleans Parish that's in a flood hazard zone, you should consider flood insurance.

Some insurance companies offer flood endorsements or even separate policies. Homeowners can compare private flood insurance rates in New Orleans with Policygenius, or choose a policy through a government entity like the National Flood Insurance Program (NFIP).

Windstorm insurance

New Orleans, like the rest of Louisiana, may be affected by hurricanes and tornadoes. Although homeowners insurance usually covers wind damage from tornadoes and hurricanes, it can get more complicated where there are many windstorms.

Home insurance companies in Louisiana may charge a separate deductible after a windstorm damages your home — or may exclude coverage entirely. In this case, you would need to get a separate windstorm policy or find a company that covers wind damage.

How to get homeowners insurance quotes in New Orleans

Hurricanes, floods, and rising crime rates contribute to high insurance costs in New Orleans. By knowing what coverage you need, shopping around, and looking for discounts, you can save money on your policy. 

Here are a few steps to follow when shopping for insurance in New Orleans:

Steps to buying homeowners insurance in New Orleans, LA

  1. Reach out to a licensed Policygenius agent. The experts at Policygenius are here to answer your questions and take the stress out of shopping for insurance at no cost to you.

  2. Ask about Louisiana Citizens Property Insurance–Lousiana’s FAIR plan. The state’s FAIR plan can help New Orleans residents get insurance if they’ve been rejected by private insurers due to living in high-risk areas. 

  3. Consider purchasing flood insurance. While your home insurance will cover some storm damage to your house, a flooded basement is not covered. Flood insurance can be an important addition to your policy, given New Orleans’ history with hurricanes and flooding. 

  4. Figure out how much deductible you can afford. Given the high risk of hurricane damage, New Orleans residents in coastal communities may want to be careful not to choose too high of a deductible.

  5. Compare quotes from a Policygenius agent. A Policygenius agent can walk you through home insurance quotes from multiple insurers to help you determine which companies offer the best coverage at the best price. 

  6. Choose your policy, sign it, and pay your first premium. Once you have decided on the right policy, a Policygenius agent can prepare the paperwork for you to sign and instruct you on how to make your first payment. 

Compare home insurance rates in New Orleans

Frequently asked questions

How does a home insurance deductible work?

Your deductible is the amount you’re responsible for paying on each covered claim before your insurance kicks in to cover the rest of the loss. If you have a $2,000 deductible and file a $10,000 claim for damage to your roof, you will need to pay the first $2,000 before your insurer pays the remaining $8,000.

What is the average cost of home insurance in New Orleans?

The average cost of home insurance in New Orleans is $2,805 per year, which is higher than both the state and national averages due to high-risk factors in the city. To save money, bundle your home and auto policies with the same company and ask about any other discounts offered. You can also compare quotes to make sure you’re getting the best rate.

What is personal property insurance?

Personal property insurance covers your belongings inside your home if they are damaged in a covered loss. These items include everything you can move in and out of your house such as your furniture, electronics, clothes, and more.

Author

Andrew Hurst is a senior editor and a licensed auto insurance expert at Policygenius. His work has also been featured in The New York Times, The Wall Street Journal, Forbes, USA Today, NPR, Mic, Insurance Business Magazine, ValuePenguin, and Property Casualty 360.

Editor

Pat Howard is a licensed insurance expert and managing editor at Policygenius. Pat has written extensively about the home insurance industry and his insights as a subject matter expert have appeared in several top tier publications, including The New York Times, The Wall Street Journal, CNBC, and Reuters. Pat has a bachelor's degree in journalism from Michigan State University.

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