Homeowners

The Center is pleased to provide you with a variety of educational resources to help you become a more informed insurance consumer.

Tips for saving on your homeowners insurance

  1. Shop around…
    For most people, their home is their largest investment – so while you want the best price, you also want great service and piece of mind.  Make a few phone calls, check online, ask a friends and neighbors, contact the Louisiana Insurance Department – take a few minutes to compare price, service and financial ratings of the companies
  2. Increase your deductible…
    By increasing your deductible from $250 to $500 you can reduce your premium.  The amount of the reduction will vary based on your insurance company.  Talk with your agent or insurance company about your deductible.
  3. Seek out discounts…
    Insurance companies offer a variety of discounts.  You should ask the agent or company representative about the discounts that are available to you.  Discounts are often provided for smoke detectors and burglar alarms for example. 
  4. Consider buying multiple policies from one insurer…
    Many companies will provide you with a discount for insuring both your car and home.
  5. Improve your credit history…
    Studies have confirmed correlations between credit history and risk of loss. By considering credit information, along with other familiar factors such as driving experience, previous claims, and vehicle age, many insurers seek to develop a more complete picture of a consumer’s risk characteristics. Thus, people with better credit history may pay less for insurance. So, review your credit report and you may improve your premiums by improving your credit history
  6. Retrofitting and mitigation discounts…
    Under some circumstances consumers can receive insurance premium discounts if you build or retrofit your home to comply with the Louisiana State Uniform Construction Code, or install mitigation improvements demonstrated to reduce the amount of loss from a windstorm or hurricane. In addition, tax deductions and sale tax exemptions may also be available.

Six Steps for Storm Safety -

  1. The 7 Ways to Safety
  2. A Do It Yourself (DIY) Wind Inspection
  3. Three Ways in Three Days
  4. A Guide to Insurance Coverage
  5. Blowing Away the Myths
  6. Steps Before and After a Storm


Educational Resources on Homeowners Insurance
For more information about homeowners insurance visit the Insurance Information Institute whose mission is to improve public understanding of insurance—what it does and how it works.