1. Know what kind of coverage you need.
The premium for your homeowners, renters and flood insurance will be based on the amount of insurance you purchase. While you want to be sure that you have enough coverage for your structure, too much coverage can result in a very high premium. You should also consider what amount of contents coverage is right for you. Flood coverage through the NFIP has maximum amounts, but private flood insurance may help cover you completely.
2. Shop around using the Shop Your Rates tool.
Consumers can use the Louisiana Department of Insurance’s online systems to compare automobile and homeowners insurance rates among companies. By selecting the profile for the home or driving record that best matches your situation, you can see estimates of insurance rates across the state. We have comparison tools for homeowners insurance and automobile insurance.
3. Check the complaints ratio for any companies you are considering.
You can use the Consumer Complaint Data tool on its own, or the Shop Your Rates tools with built in complaint data, to compare insurance companies. Purchasing an insurance policy is only half of the transaction. The other half is the service you receive if you have questions or need to file a claim. The complaint data offers another source of information for consumers to make informed decisions.
4. See if you are eligible for discounts.
Many insurers will offer discounts for good behavior while driving, good student discounts or multi-line discounts for having multiple policies with the same insurance company. As your agent if you are eligible for any discounts or how you can become eligible in the future and then follow up with them.
5. Make your home safer and more disaster-proof.
Storm mitigation incentives can help lower the cost of your premiums or qualify homeowners for a state tax deduction for voluntarily strengthening a home against storms and hurricanes in compliance with the Louisiana State Uniform Construction Code.
Burglar and fire alarms can help protect your home and lower your premiums as well. Be sure to ask your agent before any upgrades to alarms, locks or fire systems to find out what kind your insurer recommends.