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By: Hemanth Ramesh July, 26, 2019

Homeowners insurance premium in Louisiana is the second highest in the country at $2,979 on an average per annum. This rate is $1,751 higher than the national average of $1,228. Venice reports the highest average insurance premium in the state at a staggeringly high $11,151 per annum.

The following graph presents the average homeowners premium rates for some of the largest cities in Louisiana, namely New Orleans, Baton Rouge, Lafayette, Lake Charles, Shreveport, and Monroe. According to the US Census Bureau, 79% of Louisiana’s population lives near the coastal areas.


According to the Louisiana Department of Insurance, Hurricane Katrina caused damages of $25 billion, which resulted in insurance claims worth $725,000. Thus, Louisiana is one of 19 states to have a hurricane deductible. NFIP incurred $13.1 billion in flood insurance losses as a result of Hurricane Katrina. The Louisiana Department of Insurance further states that hurricane deductibles generally range between 2% and 5%. If a property suffers damages worth $3,500, in the case of a $500 deductible, a homeowner would pay the first $500 before the insurance coverage kicks in for the rest of the $3,000.

Louisiana’s crime rate is higher than the national average. For every 1,000 homes, 7.40 homes have experienced burglaries. At the national level, an average 4.69 burglaries occur per 1,000 homes. Studies show that burglary rates increase during natural disasters. Burglar alarms, CCTV cameras, and other forms of safety can lower homeowners insurance premiums.

In New Orleans, homeowners pay an average premium of $4,894, which is $1,915 higher than the state average. Residents in the capital city of Baton Rouge pay an average homeowners premium of $2,402. In addition to Venice, localities in Boothville along the banks of the Mississippi River are some of the most expensive places to insure a property in Louisiana. These localities were nearly destroyed by Hurricane Katrina in 2005 and have undergone dramatic transformation since.


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Hemanth Ramesh

Hemanth Ramesh works as a writer for Gavop. He has previously written content for film promotions, start-ups, advertising agencies and event management firms. Hemanth Ramesh completed his MA in Journalism and Mass Communication from The English and Foreign Languages University. His other passion includes script writing.