As thousands of homeowners in New Orleans discovered after Katrina hit, you can lose everything you own if you don't have homeowners insurance. Here's how to get homeowners insurance in Louisiana at the best rate possible.
What Homeowners Insurance Covers
A homeowners insurance policy covers the following:
Your home - Homeowners insurance will pay to rebuild or repair your home after it's been damaged or destroyed by fire, hail, vandalism, plumbing leaks, or acts of nature.
Your possessions - Homeowners insurance will pay to replace any personal property (clothing, furniture, appliances, etc.) that's been stolen or damaged by fire, hail, vandalism, plumbing leaks, or acts of nature.
Additional Living Expenses - Homeowners insurance pays for your additional living expenses - hotel and restaurant bills - when your home is damaged or destroyed and you need to stay somewhere else while it's being repaired or rebuilt.
Personal Liability - Homeowners insurance pays your and your family's legal fees and court costs when you injure someone or damage their property.
What Homeowners Insurance Doesn't Cover
Many New Orleans residents discovered all too late that standard homeowners insurance policies do not cover damage to your home caused by floods. If you live in a flood zone you need to purchase flood insurance. For information on where to buy flood insurance, visit the National Flood Insurance Program website at: floodsmart.gov.
Some policies also place a limit on the amount of coverage they will provide for expensive items like jewelry, computers, antiques, etc., so check your policy and purchase additional coverage if you need it.
Where to Get Low Cost Louisiana Homeowners Insurance
To get the best price on homeowners insurance you need to do some comparison shopping. The easiest way to compare rates is to go to an insurance comparison website where you can get rates from a number of insurance companies.
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