7 Best Renters Insurance Companies in Louisiana of 2023
Everyone should consider purchasing renters insurance even though it is not required by law in the state of Louisiana.
Renters insurance is best known for covering damage to personal property and can include your clothing, furniture, and even your electronics.
It doesn’t matter if you live in a Northern Louisiana town like Minden or a highly populated parish like East Baton Rouge Parish, a renters insurance policy is a benefit in a catastrophic event.
For many, a loss of personal property in a fire, for example, is more than just a physical loss of property, but an emotional event.
So, even tenants living in a large city like New Orleans who purchase renters insurance will have peace of mind if a loss occurs with a renters policy.
Personal liability is routinely included in all renters insurance policies and can pay for damages incurred by others due to a fire that started in your apartment.
According to PropertyNest research, the average cost of basic renters insurance in Louisiana is $36.46 a month.
Compare the coverage and cost of the best renters insurance providers in Louisiana picked by PropertyNest expert editors:
Compare Renters Insurance in LA
The Best Renters Insurance Companies in Louisiana
- Allstate – Best for Mobile App Customer Service
- State Farm – Best for Competitive Rates
- Liberty Mutual – Best for Coverage Options
- Progressive – Best for Overall Discounts
- Travelers – Best for Multiple Customer Service Support Channels
- Farmers Insurance – Best for Non-Smokers
- Nationwide – Best for Basic Coverage
Allstate: Best for Mobile App Customer Service
Allstate has state-of-the-art technology today, and easy access to policy information on the mobile app makes customer service functions for consumers on the go easy and user-friendly.
Customers in any part of the state of Louisiana can access policy information, pay a bill or report a claim on the app.
The Allstate Digital Footprint section of the mobile app lets clients see the type of information companies may collect about you and how it is used.
The website is loaded with educational tools making information easily accessible.
Allstate Renters Insurance Discounts
- Multi-Policy Discount: If you are open to buying both your renters and car insurance from Allstate you could pay as little as $4 per month with the savings.
- Easy Pay Plan: A discount for making your monthly renters' insurance payments electronically from your bank or a credit card. Discounts may vary depending on whether you use a bank or credit card.
- 55 & Retired Discount: Consumers who are truly retired and not seeking any employment are eligible for up to 25% discount off their renters' premiums.
Read a full Allstate renters insurance review.
| J.D. Power (out of 1,000) | 837 |
|---|---|
| A.M. Best - Financial Strength Rating | A+ |
| NAIC Complaint Index | 2.05 |
| BBB | A- |
State Farm: Best for Competitive Rates
State Farm is a top insurance company with a firm market share in Louisana, which all Louisiana residents can verify through the insurance department.
Smaller rural communities like Broussard, Maurice, and Youngsville find State Farm, a competitive insurance company for renters' policies.
There are affordable coverage choices, limit options, and flexible endorsements to increase or restrict coverage for budget-conscious consumers.
Prospective renters who have a rare collection of items; or unique personal property like a vintage pair of sneakers still find State Farm affordable and competitive.
The competitive pricing edge is given to State Farm due to the flexible overall pricing their renters policy offers, as you may save up to 17% on your renters and car insurance bundle.
State Farm Renters Insurance Discounts
- Renters & Car Insurance Bundling: Combining car and renters insurance is common with most carriers, but the discounts can vary widely.
- Home Alert Protection Discount: If you have a smoke detector for fire or burglar alarm that alerts you someone may be breaking into your residence, there is a premium discount for renters.
- Deductible Choices: Deductibles may not be a true discount, however, with State Farm, they can positively impact the premium by choosing a higher deductible.
Read a full State Farm renters insurance review.
| J.D. Power (out of 1,000) | 836 |
|---|---|
| A.M. Best - Financial Strength Rating | A++ |
| BBB | A+ |
| NAIC Complaint Index | 1.77 |
Liberty Mutual: Best for Coverage Options
Liberty Mutual renters’ customers in cities like Baton Rouge, New Orleans, or Shreveport may be inclined to seek out Liberty Mutual due to a variety of coverage options.
Coverage options allow consumers to build the coverage protection they need and only pay for the coverage they choose.
For example, jewelry coverage can be purchased as a blanket jewelry coverage with a no deductible option or up-front appraisal, or you can choose insurance per piece of jewelry depending on the need.
Life events that occur over time can be managed with the Liberty Mutual online platform by making it easy for customers to review coverages and make changes on their own when necessary.
We choose Liberty Mutual for the best coverage options, even for small towns like Coushatta or Ruston, since you can choose to add or remove coverage options on your own or reach out to the company directly for help.
Liberty Mutual Renters Insurance Discounts
- Early Shopper: The farther out you get a quote before you need coverage, the better the discount will be up to approximately 30 days before purchase.
- Claims-free: A discount for renters who have not filed a claim in the recent past.
- Online purchase: Customers who complete the purchase of renters insurance online receive an additional discount.
- Multi-Policy: Liberty Mutual offers a discount if you insure your car or other policies with their company.
- Preferred Payment: This discount rewards the renter with an automatic monthly bank draft.
Read a full Liberty Mutual home insurance review.
| J.D. Power (out of 1,000) | 834 |
|---|---|
| A.M. Best - Financial Strength Rating | A |
| BBB | A+ |
| NAIC Complaint Index | 2.37 |
Progressive: Best for Overall Discounts
Progressive discounts reward you for being organized about your insurance portfolio.
Choosing to quote your insurance in advance or get a quote before moving into your new rental residence may give Louisiana residents in both Orleans Parish and small communities like Tallulah a substantial discount.
Convenience for the customer is the focus for Progressive as they offer a discount for receiving your policy information, including your ID card, via email.
Many companies offer a discount for a monthly bank draft, Progressive offers a pay-in-full discount for those organized accounts.
Progressive Renters Insurance Discounts
- Multi-Policy: Buy car insurance with Progressive, and you’ll receive a substantial discount on renters insurance.
- Quote in Advance: Smart shoppers who quote their insurance at least 30 days before expiration or change date get the best rate with Progressive.
- Policy documents sent by email: Choose to have all your documents delivered by email for a discount.
- Pay in Full: You'll receive a discount if you can budget annually for renters insurance.
- Secured or Gated Community: A security discount that reduces premiums as theft is less likely to occur in a gated community.
- Single Deductible Benefit: If you have both your car and renters insurance with Progressive and have a claim, you will only pay one deductible for both policy claims.
Read a full Progressive renters insurance review.
| A.M. Best - Financial Strength Rating | A+ |
|---|---|
| NAIC Complaint Index | 1.66 |
Travelers: Best for Multiple Customer Service Support Channels
Travelers have been a staple in the insurance industry since 1853.
After the sale of a policy, it is key also to have excellent service support, ease of access to file a claim, and a company that continuously updates technology tools.
Travelers does best in this category by offering multiple support channels for sales and service of all lines of insurance in Winnsboro or Arcadia.
The website offers an online quote process where you can also purchase your policy, review videos on YouTube about coverages, and secure coverage with an online purchase.
You can choose the online process and then request a local agent for future support.
An app can submit claims or by reaching out to your local agent.
Many companies offer mobile apps and online services, but Travelers leads our list for their ease of access and options for communication channels.
Travelers Renters Insurance Discounts
- Loss-Free: If you have not submitted any past claims for a specified time, you can receive a discount for being claims-free.
- Protective Devices: Smoke detectors and other theft-related security devices might land you an additional discount.
- Multi-policy: Choosing to purchase a second policy, like auto insurance, can reduce the renters premium.
- Deductible Choice: Choosing a higher deductible isn’t a discount, however, with Travelers, it can positively impact your premium.
| J.D. Power (out of 1,000) | 801 |
|---|---|
| A.M. Best - Financial Strength Rating | A++ |
| BBB | A |
| NAIC Complaint Index | 3.88 |
Farmers Insurance: Best for Non-Smokers
Every insurance company has discounts and unique feature that draws consumers to their product.
Farmers Insurance offers a non-smoking discount for renters who purchase an insurance policy.
Service and affordability are not far behind the discounts, so tenants in Lafayette or Lake Charles benefit even if they are a smoker.
In addition to the discount, there are plenty of coverage options to choose from in the Farmers Insurance renters policy.
Consumers can purchase a policy online, receive their documents via email, and request a local agent for ongoing service and claims support.
Farmers Insurance Renters Discounts
- Non-Smoker: Consumers that have not smoked for two consecutive years receive a special discount for a smoke-free home.
- Multiple policies: Discounts for adding your car insurance or any other Farmers' insurance policy.
- Security System or Fire Alarm: An approved electronic security system or fire alarm offers additional discounts.
| J.D. Power (out of 1,000) | 831 |
|---|---|
| A.M. Best - Financial Strength Rating | A |
| BBB | A- |
| NAIC Complaint Index | 0.56 |
Nationwide: Best for Basic Coverage
Nationwide has developed a market for tenants who might be first-time purchasers of renters insurance or have little personal property to cover.
Offering just a basic renters policy makes it more affordable to purchase a policy when you only have minimal coverage needs.
The senior market may find this company a match as retirement and downsizing become the focus.
Mult-policy discounts can play a factor as that is one of the top-priced discounts for Nationwide.
Nationwide Renters Insurance Discounts
- Multi-policy: Choose to buy your car or umbrella insurance or any other second line of insurance with Nationwide and likely secure a discount on renters.
- Protective Devices: Most commonly offered are discounts for a smoke detectors and fire or burglar alarms.
- Claims-Free: Each year you have not submitted any claims helps to reduce your annual renters premium.
| J.D. Power (out of 1,000) | 859 |
| A.M. Best - Financial Strength Rating | A+ |
| BBB | A+ |
| NAIC Complaint Index | 0.04 (Very Low) |
| Company | PropertyNest Rating | J.D. Power (out of 1,000) | A.M Best Rating | BBB Rating |
|---|---|---|---|---|
| Lemonade | 5.0 | 853 | Not Rated | B+ |
| Allstate | 5.0 | 837 | A+ | A- |
| Liberty Mutual | 4.5 | 834 | A | A+ |
| State Farm | 4.5 | 836 | A++ | A+ |
| USAA | 4.5 | 886 | A++ | A+ |
| Erie Insurance | 4.5 | 851* | A+ | A+ |
| Travelers | 4.0 | 801 | A++ | A |
| Amica | 4.0 | 854* | A+ | A+ |
| Nationwide | 4.0 | 859 | A+ | A+ |
| Jetty | 4.0 | Not Rated | A | A+ |
Is Renters Insurance Mandatory to Rent an Apartment in Louisiana?
Renters insurance is not mandatory by law to rent an apartment in Louisiana.
However, it is a smart choice for anyone who is renting because it provides coverage to protect your belongings should something happen that results in damages or losses.
Some landlords may require that you have renters insurance as a part of your lease agreement.
What is the Average Cost of Renters Insurance in Louisiana?
The average cost of basic renters insurance in Louisiana is around $36.46 per month, depending on the coverage and deductible selected.
Renters insurance premiums are generally affordable, and they can provide the peace of mind that comes with knowing your property is protected in case of loss or damage.
It’s important to ensure you understand what your policy covers and read the fine print.
You may find that you need additional coverage for certain items or incidents, and you should always review your policy periodically to make sure it meets your needs.
What Does Renters Insurance Cover in Louisiana?
Personal Property
Personal property is defined by insurance as clothing, furniture, kitchen items, and other personal belongings, like a bike, laptop, and jewelry.
Be diligent in asking questions if you have high-end valuables or unique items, as renters insurance may not provide adequate coverage in a basic insurance policy.
| Type | Items | Coverage |
|---|---|---|
| Cash or Other Forms of Currency | Bank notes, bullions, gold or silver (non-jewelry), coins, medals, smart cards, stored value cards. | Most renters insurance policies will only cover up to $200 in stolen cash. |
| Electronic Equipment | Phones (iPhones, Androids, etc.), computers, laptops, iPads, earbuds, smart watches, TV sets, gaming systems, Alexa or Google home devices, etc. | Standard renters insurance policies cover the loss or damage of electronic devices. |
| Clothing | Designer purse/handbags, shoes, jewelry, designer watches | Standard renters policies cover your personal clothing or designer handbags etc. |
| Power Tools | Drills & drivers, saws. | Covered under the personal property coverage. |
| Kitchen appliances | Refrigerators, microwaves, blenders, electric mixers, ice makers, coffee machines, and other appliances. | Renters insurance covers personal appliances if they are damaged, stolen, or destroyed by a covered peril. |
| Prescription drugs | Will not cover stolen prescription drugs. | |
| Personal information | Bank accounts, identity information stolen from documents, or stolen personal equipment. | Most companies do not include identity theft as a covered peril in a standard renters insurance policy. |
| Firearms | Pistols, rifles | Legal firearms are covered under personal property coverage. |
Liability Coverage
Liability coverage protects you against another person who sues you for bodily injury or property damage that they believe you or your family caused.
There are a variety of limits available, and we recommend choosing a high limit as the cost is relatively inexpensive to purchase, more than the minimum of $100,000 usually offered.
Medical Expenses
This expense category is meant to help if someone has an accident on your property and wants you to pay the hospital or bodily injury damages.
You don’t have to be found at fault in court to have this coverage paid to someone else for the accident.
Additional Living Expenses (Loss of Use)
This coverage is certainly beneficial as it provides additional expenses you incur when your home is uninhabitable for a period of time due to a covered loss, and you and your family must live somewhere else while the repairs are made.
What is Actual Cash Value vs. Replacement Cost?
Most basic policies include actual cash value as the determination for payment of damaged personal belongings in a loss.
Always make sure you request the replacement cost option for your personal property.
Replacement cost means that if your 10-year-old couch is damaged in a fire, the insurance company will pay the cost to replace it with a new one, not a comparable 10-year-old one.
You may pay a few dollars more over the year for this coverage, but it is well worth the extra premium.
Do You Need an Inspection for Renters Insurance?
In most cases, you are not required to have an inspection of your property to obtain a renters insurance policy.
However, it is a good idea to document any valuable items that you own with pictures or video in case you need to file a claim for damage or theft.
Also, if you have jewelry worth more than $1,500-$2,000 (depending on the company), you may need an appraisal, or else the insurance company will only cover up to that amount.
It is important to accurately list all of your items in the inventory of your renters insurance policy so you can get full replacement coverage if something happens to them. Talk to your insurance agent for more details.
Conclusion
The PropertyNest team encourages all tenants to purchase renters insurance and protect their personal property belonging in case a catastrophic event does occur. You have peace of mind there is an insurance company with integrity to navigate the loss and help you recover.
Consider getting several renters insurance quotes to compare pricing and coverage options. Remember, if you live in an area prone to flood, consider asking your insurance professional about flood insurance, too.
Methodology
We thoroughly researched the state's top renters’ insurance companies and narrowed the list down to those that operated in Louisiana. We rated them on criteria that included ease of use, ratings, financial strength, customer, and affordability. Read our full in-depth renters insurance methodology.
How We Selected the Best Renters Insurance Companies in Louisiana
Experts in the insurance field spend hours reviewing companies in Louisiana to find the top companies for renters insurance.
We review websites and talk to other professionals and customers when gathering details for you.
We include factors like pricing, coverage options, discounts available, and the customer service experience before we choose our best insurance companies for renters.
Pricing
Louisiana renters insurance is slightly higher than the national average so our choices for top companies offer affordable rates in all areas, including big cities like New Orleans or smaller communities like Mansfield.
Coverage options
Options are key to tenants in largely populated areas like Jefferson Parish and residents in small communities like Farmersville, so we chose companies with the broadest coverage options available.
Discounts
Not all discounts are created equal, so we choose companies that offer various discounts at all policy levels.
Customer Service Support
Technology, people, and claims support are necessary to provide service for a renters policy, so we focused on companies that highlight all factors of excellent service.
Locations
As the rates vary widely based on the location, we compared the average renters insurance rates in the major Louisiana major cities such as New Orleans, Baton Rouge, Shreveport, and Metairie.
