Renters Insurance Louisiana 2021

Last modified: December 11, 2020

Renters insurance is a must-have no matter where you live. While renters insurance in Louisiana might only cost $1 a day on average, finding renters insurance in Louisiana can be a tough nut to crack. While the price is the main factor when choosing renters insurance, it should never be the only deciding factor. If you are searching for renters insurance in Louisiana, then you have come to the right place. Here, we have highlighted some of the best renters insurance options based on their ratings, customer support, value for money, and coverage options.

How to Choose the Best renters Insurance in Louisiana?

The good news is that you can easily go online to find the best options available for renters insurance in Louisiana. The smart choice is to find a reputable comparison website to compare various renters insurance quotes in Louisiana. You can also go on the insurance provider’s websites to generate quotes based on various factors such as:

  • Personal property coverage
  • Liability coverage
  • Additional living expenses coverage
  • Medical payment coverage
  • Deductibles and loss of use, and so on

When searching for renters insurance, an online search is, by far, one of the best options to find the cheapest renters insurance in Louisiana.

Best and Cheapest Companies for Renters Insurance in Louisiana

If you want to compare renters insurance in Louisiana, then here are some of the best options available:

State Farm

State Farm’s renters insurance coverage is designed for renters living in condos, apartments, and homes. It covers belongings in case of damage or loss due to theft or fire. While State Farm is the country’s largest auto insurer, it also offers reliable and affordable renters insurance coverage. Additional coverage options include waterbed liability coverage, additional insured coverage, sewer or drain backup coverage, incidental business coverage, nurses’ professional liability coverage, personal injury liability coverage, additional liability coverage, earthquake coverage, and additional business property coverage.

State Farm enjoys good ratings from the National Association of Insurance Commissioners (NAIC) and ranks amongst the highest in the best renters insurance companies for 2019, according to JD Power. The insurance provider also offers a mobile app and fast claim filing. The average renters policy cost around $12 a month, but cost more for additional benefits.

Pros

  • Includes coverage adjusted for inflation
  • Replacement cost coverage
  • Best in class customer service

Cons

  • Two discounts allowed

 

Safeco

Safeco has been in power since 1923 and serves 50 states in the US. Safeco offers some of the best renters insurance options in Louisiana. For just a few dollars a month, renters can get renters insurance coverage from Safeco. The standard policy will get you coverage for living expenses, liability coverage, and protection at home and in your car. Additional coverage options include identity recovery, valuable articles, and personal property replacement cost protection. Average renters insurance policies cost between $9 to $24 per month and depend on various factors.

The insurance provider has excellent financial strength, according to AM Best, and also has a good NAIC rating. According to JD Power, it has secured a score of 820/1000, which shows their level of commitment.

Pros

  • 24/7 file claims
  • 15% bundling discount
  • Savings by paying bills in full

Cons

  • No online policy approval
  • Low-quality customer service

USAA

You can get renters insurance from USAA for around $12 a month. But, this rate varies depending on several factors that must be considered. USAA is one of the insurance companies that enjoys a strong reputation and high ratings for customer satisfaction. The company has an A- rating from the BBB. It also has a JD Power score of 881/1000 and an A++ rating from AM Best, a testament to their quality of service.

Pros

  • Excellent customer service
  • Affordable costs
  • Plenty of options

Cons

  • Few discounts
  • Availability is limited

Encompass

Encompass is another reputable insurance provider in the US. The company offers great renters insurance coverage options for those looking to safeguard their belongings from a fire or theft. Encompass offers personal injury protection, computer, and data recovery coverage, jewelry and fur coverage, and water backup protection, which are covered under their renters insurance policy. The insurance provider has an AM Best rating of A+ that shows its superior quality service and affordable rates.

Pros

  • Plenty of coverage options
  • Few complaints
  • Fast claim processing

Cons

  • Available only in 39 states
  • Available exclusively through independent agents

 

 

American Strategic Insurance Group

American Strategic Insurance Company focuses on home insurance by providing renters insurance, condo insurance, and homeowners insurance policies to  Louisiana residents. The provider has an A+ rating from the BBB because of its excellent customer service. The renters insurance costs vary depending on various factors but are usually affordable.

Pros

  • Reliable renters insurance policy
  • High ratings

Cons

  • Lacks quality customer support

 

Allstate

Allstate offers renters insurance that costs around $15 per month, which is highly affordable. Allstate renters insurance helps cover damages due to theft at your rental property or damages caused by fires. It also covers losses in a hotel. Personal umbrella policy and flood insurance are also available. With a high AM Best rating of A, you can rest assured that you are in good hands with Allstate renters insurance in Louisiana.

Pros

  • Covers additional living expenses as well
  • Plenty of discounts available
  • Exceptional customer service

Cons

  • Standard policies do not cover damages caused by earthquakes or flooding
  • Replacement cost comes at a higher premium

Louisiana Farm Bureau

One of the benefits of their renters insurance policy is that if you also get your vehicle insured under the same policy, you only have to pay one deductible per accident. They also offer a mobile app to find an agent near you to get the best rates. The insurance provider has an A financial strength rating from AM Best for their fast processing. This insurance provider has a high customer approval rating because of their excellent customer service. The average cost of renters insurance is around $50 per month.

Pros

  • Affordable coverage options
  • Plenty of opportunity for discounts and savings
  • Excellent customer service

Cons

  • Rates tend to go higher

 

American Family

American Family has been offering renters insurance policies for renters in Louisiana for many years. The average cost of renters insurance is $15 a month, amongst the cheapest in Louisiana. The insurance provider also offers exceptional customer support and fast claims processing. The company has an AM Best financial strength rating of A, making it a reliable provider of renters insurance in Louisiana. A renters insurance policy offers coverage for damages, such as fire, storm, or theft. It also includes liability coverage for lawsuits and medical expenses.

Pros

  • Reliable coverage
  • Great customer service
  • Supports the mobile MyAmFam app
  • 24/7 customer support

Cons

  • Available only in 19 US states
  • Requires an underwriter for uncovered states

Liberty Mutual

Mutual has over 100 years of experience in the insurance sector. When it comes to renters insurance, Liberty Mutual ranks amongst the 9th top providers in the US, and with an “A” AM Best rating, it is easy to see why. You can secure renters insurance for just $5 per month, making it one of the lowest costing renters insurance in the state.

Pros

  • 100 years of experience in the insurance business
  • Great customer service
  • Reliable coverage

Cons

  • Limited coverage

 

List of Cities and Averages

City Average
New Orleans $238 per year
Baton Rouge $340 per year
Shreveport $235 per year
Metairie $230 per year
Lafayette $187 per year

 

Buyer’s Guide

Louisiana renters insurance protects renters from the loss or damage of their belongings. It may also include liability costs of property damage and bodily injuries caused by a third party. It also covers legal and defense costs. While renters insurance is not mandatory, it helps protect you from property damage or bodily injury. Renters insurance costs around $155 to $340 in Louisiana and is determined by several factors that vary depending on the insurance provider.

There are two ways in which renters insurance reimburses—actual cash value, which pays what the property was worth at the time of damage, and replacement cost, which pays the full cost of replacing the items with new ones. In Louisiana, renters insurance can cover:

  • Personal property coverage
  • Liability coverage
  • Additional living expenses coverage
  • Medical payment coverage
  • Deductibles and loss of use, and so on

It is important to note that renters insurance does not cover property damage for all perils, such as natural disasters or pests. This is why it is best to ask your insurance provider beforehand.

Renters insurance may include coverage for jewelry, watches, antiques, theft, and total dollar limit, amongst others, so it’s always best to contact your insurance provider and get all the details before you sign on the dotted line.

Pros & Cons

The Pros

The Cons

Final Verdict

FAQs

How much is renters insurance in Louisiana

Renters insurance costs between $130 and can go all the way up to $350, depending on a number of factors.

What are the renter insurance laws in Louisiana?

It is not mandatory to get renters insurance in Louisiana, but a landlord will require a renters insurance policy before they sign the rental agreement.

Is Flood damage and wind damage covered under renters insurance in Louisiana?

Yes. Some insurance providers do offer renters insurance that covers damages caused by wind or flood.

Does Louisiana renters insurance cover liability outside the house?

Renters insurance liability is tied to you as an insured person, but your renters insurance liability would cover you outside the apartment as well.

What is Home inventory and why do you need it?

A home inventory is simply a list of your personal possessions along with their estimated financial value. A renter will need it to make a claim to get compensated.