Cheapest New Orleans Homeowners Insurance Quotes (2025)

Encompass has the cheapest average homeowners insurance policy in New Orleans, with annual premiums starting at $2,624.

Updated

Save up to $1,025† by comparing quotes from the top 120+ insurance companies

Excellent
Secure. Free. Easy-to-use.
ProgressiveLiberty MutualAllstate
Why you can trust Insurify: Comparing accurate insurance quotes should never put you at risk of spam. We earn an agent commission only if you buy a policy based on our quotes. Our editorial team follows a rigorous set of editorial standards and operates independently from our insurance partners. Learn more.

The average yearly cost of New Orleans home insurance is $6,739 for a $300,000 policy with a $500 deductible, which is much higher than Louisiana’s average of $4,384. Encompass, State Farm, and Foremost have the cheapest average home insurance premiums in New Orleans.

New Orleans is one of the top five U.S. metropolitan areas at risk for storm surge and hurricane winds, which explains the higher rates.1 You’ll likely need to purchase homeowners insurance and separate flood insurance.

Here’s what you need to know about finding cheap home insurance in New Orleans, including how to compare quotes and what coverage offerings to look for.

Quick Facts

  • How much it costs to insure your home will depend on factors like your chosen coverage limits, the home’s construction year, your credit history, and more.

  • Standard homeowners insurance policies exclude flood damage.2 You can buy flood insurance from the National Flood Insurance Program (NFIP) or a private insurer.

  • The national average yearly cost of home insurance is $1,770 for a $300,000 policy with a $500 deductible.

Best home insurance companies in New Orleans

You have dozens of options for New Orleans homeowners insurance, whether you’re looking for a basic plan that covers roof damage or a policy with greater personal property coverage and personal liability coverage. The best home insurance company for you will offer the amount and type of coverage you need for a price that aligns with your budget.

Start your search with four of the best home insurance options in New Orleans: Encompass, State Farm, Foremost, and Centauri Insurance.

  • Our editorial team spent more than 350 hours developing the Insurify Quality (IQ) Score and scoring insurance companies. The IQ Score objectively analyzes and calculates a score for insurers using more than 15 crucial criteria. The team weighted criteria by importance to the consumer — factors such as customer reviews and affordability influence the score more than availability and third-party ratings.

    We rate each company on a 1 to 10 scale based on five categories: financial ratings, customer satisfaction, affordability, customer support and transparency, and availability. Insurify updates ratings once a year or as more recent information becomes available.

    • Third-party financial ratings: Insurify uses data from AM Best, S&P, Moody’s, and more to compare insurance companies’ credit and ability to pay out future claims.
    • Customer satisfaction: To calculate this score, Insurify analyzed more than 55,000 customer reviews across 155 car insurance companies. We also consider third-party ratings from J.D. Power, the National Association of Insurance Commissioners, and Trustpilot.
    • Affordability: Our data scientists analyzed more than 90 million real-time auto insurance rates from our partners across the U.S., as well as available discounts, to calculate an affordability score.
    • Customer support and transparency: This measures coverage options, ease of claims filing, and the insurer's transparency surrounding discounts, coverages, and claims process.
    • Availability and reach: Insurify scores availability and reach by identifying the number of states in which insurers offer coverage and company size by market share.

Cheapest rates: Encompass

Best insurer for bundling insurance products: State Farm

Best insurer for rebuilds and replacements: Foremost

Best insurer for storm experience: Centauri Insurance

Cheapest home insurance in New Orleans

Encompass is the cheapest home insurance company in New Orleans, with an average annual home insurance premium of $2,624. Keep in mind that the cheapest price doesn’t always mean it’s the best coverage for your needs. Always compare prices and coverage options when choosing a home insurance company.

Here are some of the cheapest New Orleans home insurance options.

Cost of homeowners insurance in New Orleans

The average cost of home insurance in New Orleans for a $300,000 residential dwelling coverage policy is $6,739. Homeowners in the area face high rates due to a high risk of damage from storm surges and hurricane winds. But insurance quotes for your property ultimately depend on a number of factors.

Insurance companies consider a number of unique factors when determining home insurance premiums, including:

  • Location

  • Home’s age

  • Construction of the home

  • Proximity to fire stations

  • Discounts

  • Deductible limit

  • Scope of insurance coverage

  • Coverage level

  • Crime rates in the area

  • Credit history

Cost of homeowners insurance by dwelling coverage amount

Dwelling coverage is insurance for the physical structure of your home. It can cover the cost of rebuilding or repairing it. The dwelling coverage amount you select for your policy will influence how much you pay for the coverage. Less coverage comes with a lower premium, and vice versa. The greater the covered amount, the greater your premiums will be.

Compare the annual cost of homeowners insurance in the U.S. by dwelling coverage limits below.

Cost of homeowners insurance by deductible

A home insurance deductible is how you and an insurance company share claims risk. When you file a claim, the insurance company will have you pay a deductible before it’ll cover the rest of the expense.

Most insurance companies will let you choose your deductible amount. A lower deductible increases premium rates, but a higher deductible can decrease monthly premiums because you’re electing to contribute more when you file a claim.

The following table shows how deductible amounts influence average annual premium rates for a $300,000 dwelling coverage policy in New Orleans.

How to get cheap homeowners insurance in New Orleans

Louisiana homeowners insurance costs can add up, especially when you consider that the state has a named storm deductible and a hurricane deductible that may increase your overall repair or replacement costs after a peril like tropical storms.5

Here are a few ways you can save on home insurance in New Orleans:

  • Understand what you’re paying for. The best way to ensure you’re paying for the right amount of coverage is to understand what your policy does and doesn’t cover. Review your policy with your agent and make adjustments if necessary.

  • Qualify for discounts. Discounts are a popular way to save on home insurance costs. Insurance companies may offer discounts for newer homes, certain construction materials, home security systems, bundling, and more.

  • Ask about storm-mitigation incentives. Proactively trying to protect your home from sudden and unexpected damages like storm surges can help you lower your overall costs. Storm-mitigation incentives are available to Louisiana homeowners. These incentives include insurance premium discounts through an insurance company, as well as state tax deductions extended through the government.

  • Review your policy limits and shop around. It’s always a good idea to review your policy and see if you have any potential savings available. If your personal possessions have decreased in value, you might not need the extent of coverage that you have. If you don’t believe you need to make any changes to your existing policy, you can shop around and compare rates to find the cheapest homeowners insurance policy available for that coverage level.

Louisiana homeowners insurance rates by city

Home insurance rates vary by state, city, and ZIP code, which is why your home in New Orleans and a home in Baton Rouge may have significantly different rates for the same size or value of property.

Louisiana homeowners face a risk of floods and wind damage from hurricanes, but severity can vary by location. New Orleans’ position of only a few feet above sea level adds to the threat of flooding. Crime rates can also influence rates, and New Orleans has high rates of property crime compared to other cities in the state.6

The table below highlights how average annual premiums for a $300,000 dwelling coverage policy with a $500 deductible vary by city in the Crescent State.

How much homeowners insurance do you need in New Orleans?

Louisiana state law doesn’t require property owners to purchase a homeowners insurance policy. But most homeowners with a mortgage in New Orleans have a homeowners insurance policy to meet the requirements of their lender.

Unless you purchase your home in cash, your mortgage lender will almost always require that you maintain a minimum amount of homeowners insurance on your home for the length of the mortgage term. Since most homes in New Orleans are under flood risk, you’ll likely need to take out a separate flood insurance plan on your mortgaged home as well.

Experts recommend that homeowners should purchase between $300,000 and $500,000 in liability coverage at least, but most homeowners policies start with a minimum of $100,000 in liability insurance.7

Important Information

It’s important to understand exactly what your homeowners insurance plan includes and excludes. Although you may choose a plan that meets your mortgage lender’s requirements, you might actually want a higher or more comprehensive level of coverage to protect your home, property, visitors, and possessions.

What are some of the biggest risks when owning a home in New Orleans?

Louisiana is under threat of multiple natural disasters, some of which have a higher predicted rate of affecting New Orleans. Tornadoes and winter weather, for example, have a lower instance of happening, whereas coastal erosion, tropical cyclones, and subsidence have an almost certain recurrence probability.

The following perils continue to affect homes in New Orleans on a regular basis:

New Orleans homeowners insurance FAQs

It’s important to have the right amount and types of homeowners insurance to protect your finances in the event of covered damage. The following information should help answer your remaining questions.

  • How much is home insurance in New Orleans?

    In New Orleans, the average annual cost of home insurance for a $300,000 dwelling coverage policy with a $500 deductible is $6,739. Because New Orleans is a high-risk area susceptible to storm surges and other hurricane-related damages, you’ll likely need to buy a separate flood insurance policy through a private insurer of the NFIP. This will come with an additional annual cost.

  • Which company has the cheapest homeowners insurance in New Orleans?

    With an average annual premium of $2,624, Encompass has the cheapest homeowners insurance in New Orleans. The best way to find the cheapest coverage for you is to compare quotes and coverage offerings from multiple insurers.

  • Does New Orleans require homeowners insurance?

    No. State law doesn’t mandate homeowners insurance, but your mortgage company will require you to purchase it.

    Even if you don’t have a mortgage, you should buy homeowners insurance. It can help you cover the cost of repairs or replacement following covered damages. And it’ll provide you with legal protection if someone incurs an injury on your property.

  • Why is homeowners insurance so expensive in Louisiana?

    Louisiana has a high risk of damage from hurricanes and tropical storms. Destructive storm surges and hurricane winds can cause a lot of property damage that leads to costly claims. Insurers increase premiums in high-risk areas to account for the added risk.

Nick Dauk
Nick Dauk

Nick Dauk is a freelance writer specializing in business, entrepreneurship, personal finance, and travel. His work has been featured in Fox Business, BBC, The Edge, Business Insider, and Bisnow. Nick is a first-generation college graduate, having majored in Interdisciplinary Studies at the University of Central Florida. His eclectic coursework, combined with previous managerial roles in the retail and broadcast television industries, have helped him develop an interdisciplinary approach to writing.

For nearly a decade, Nick has created content for mom-and-pop businesses and global corporations. As a travel writer, his global adventures have also been featured on Inside Hook, Houston Chronicle, Culture Trip, and Matador. When he's not traveling, Nick can be found in Orlando spending time with his wife and toddler.

Nick has been a contributor at Insurify since October 2022.

Learn More
linkedin