Though homeowners insurance rates are increasing across the country, Louisiana homeowners are feeling the sting of sharply growing rates. This is particularly true for those who live in coastal areas of Louisiana. Following consecutive years of destructive hurricanes on top of supply chain issues and high rebuilding costs, many homeowners are seeing renewal notices with high rate increases. Additionally, due to changes to the National Flood Insurance Program, homeowners will also see increases in their flood insurance premiums.

What Can Louisiana Homeowners Do?
While you may not be able to control the circumstances causing premiums to rise, there may be steps that you can take to reduce your specific premiums, including:

Update your home. Getting a new roof, specifically a hip roof with four sides versus a two-sided gable roof, upgrading your windows to hurricane windows, and updating HVAC, electrical or plumbing may help you lower your premiums. Be sure to save documentation of such upgrades and have an agent come out to assess your changes.

Increase your deductible. Generally speaking, the higher your deductible, or the amount you owe out-of-pocket before coverage kicks in, the lower your premium is. Be sure to weigh the pros and cons of this move, as it may help you save monthly or annually, but if you need to file a claim, you’ll end up paying more out-of-pocket before insurance steps in to help out.
Bundle your policies. If your policies are all through the same company, you may be able to receive a discount for bundling your policies. Talk to your agent to learn more.

How an Independent Insurance Agent Can Help
Shopping around for the best insurance rates can be time-consuming and complex. But, that’s where an independent insurance agent can help. Unlike captive agents, who represent one insurer, or insurance companies themselves, who only sell their products, independent agents have access to a variety of insurers’ policies and can work to find you the best policy at the best rate. When you use an independent agent, they can quote rates for multiple companies and recommend certain companies that may better meet your needs.

Let Us Help You
The team at Dave Millet Insurance Agency is here to help you navigate the rising costs of homeowners insurance in Louisiana. As an independent agency, we’ll go the extra mile to help you find the policies that are right for you. Give us a call today to get started.