Louisiana Renters Insurance

Whether you a renting a small apartment in Baton Rouge or a Creole cottage in the Big Easy, it's a good idea to protect yourself from financial losses by purchasing renters insurance. Regrettably, too many renters in Louisiana don't realize the value of having this insurance until it's too late.

If you are among the many Louisiana residents who rent their homes, you may want to discuss your insurance options with a local independent agent. These agents are free to shop around to find the renters coverage you want at a price you can afford. Contact an insurance agent near you to get more information.

Louisiana Rental Statistics

How Much Does Renters Insurance Cost in Louisiana?

Although you probably don’t want to add more to your housing costs, once you see how affordable renters insurance can be, you may decide that it is well worth the investment.

The average renters insurance policy in Louisiana costs just $235 a year, which is about $20 a month. Twenty dollars is less than you might pay for a couple bowls of crawfish étouffée. That’s a small price to pay for the peace of mind a good policy can give you.

Some of the factors that can influence your renters insurance rates include:

• The value of your personal property
• The crime rate and weather risks where your home is located
• The size of your deductible
• Whether you are bundling your renters insurance with another policy like car insurance

By taking the time to compare quotes from a few different insurance companies, you can be sure that the policy you are buying is being offered at a good price. Independent agents make comparison shopping easy.

What Does Louisiana Renters Insurance Cover?

Renters insurance is designed to protect you in a few different ways. A typical policy will provide:

• Property coverage: Referred to as "contents coverage," this can cover repair or replacement costs if your personal property is lost or damaged by a covered event. Covered events include:
  • Fires
  • Property crimes, like burglary and vandalism
  • Severe weather events, like hurricanes, tropical storms, tornadoes, windstorms, and lightning
• Liability coverage: Referred to as “renters liability insurance,” this can cover your legal bills and financial obligations if you unintentionally cause injuries, property damage, or financial harm to others.
• Displacement coverage: Referred to as “loss of use insurance,” this can cover your various living expenses if a covered event like a hurricane leaves your rental home uninhabitable and you must stay in a hotel or other temporary accommodations while repairs are made.

You will want to be sure that your property insurance coverage limits are high enough to enable you to fully replace all of your personal belongings if you experience a total loss in a disaster.

What about Coverage against Floods in Louisiana?

Although renters insurance can cover against hurricanes and tropical storms, it does not cover against the floods that often accompany these hazards. This is a significant concern for residents of Louisiana, many parts of which are below sea level and protected by levees.

Your landlord will be responsible for covering flood damage to the structure of your home, but you are responsible for covering damage to your personal property.

If there is any chance that your rental home may experience flooding, you can benefit from supplementing your renters insurance with flood insurance.

Affordable policies are available through the National Flood Insurance Program (NFIP), a program that is run by FEMA. Renters can purchase contents-only policies starting at less than $10 a month.

How Can an Independent Insurance Agent in Louisiana Help?

When you are looking for the right renters insurance policy, you can turn to a local independent agent for assistance. These agents can explain your various options, help you decide on sufficient coverage limits, and find you a suitable policy at a great price.

Best of all, consulting an independent insurance agent is free.

There are more than 400 independent agents in Louisiana who are available to help you with all of your insurance coverage needs. Arrange an obligation-free consultation with an insurance agent near you to get started.