Monroe, LA Homeowners Insurance

Monroe is the eighth-largest city in Louisiana, with a population of nearly 50,000 residents. The city’s population has been in decline over the last decade, but homeowners who remain need a responsive and reliable home insurance policy to protect their greatest asset. If you own a home in Monroe, your homeowners insurance helps you pay for damage and repairs when disaster strikes. An independent insurance agent in the area can help you compare quotes and find the best coverage and price for your needs. 

Average Cost of Homeowners Insurance in Monroe, LA

Louisiana is the 3rd most expensive state for home insurance in the US, and the cost of coverage in Monroe is even higher than the state average. 

• National average yearly premium: $1,211
• Louisiana average yearly premium: $1,968
• Monroe average yearly premium: $2,019

Homeowners insurance rates are definitely not one-size-fits-all. Insurance companies determine your rates by looking at your individual home, the risk factors for your neighborhood, and your specific coverage needs. If you live in a ZIP code that has a high crime rate or is highly susceptible to natural disasters, you can expect to pay more than someone living in a safer area. 

Home insurance rates in Louisiana are high for a variety of reasons, including the state’s susceptibility to hurricanes and, in some cities, a very high crime rate. Shopping around for the best rate for a Monroe home insurance policy is easy with the help of an independent insurance agent. Independent agents aren’t tied down to one carrier, so they can obtain multiple quotes and help you make an informed choice. 

Burglary Rate in Monroe, LA

Monroe, Louisiana has a very high home burglary rate. This probably contributes to the higher-than-average home insurance rates for local residents.

• Number of burglaries per 1,000 homes in the US: 3.76
• Number of burglaries per 1,000 homes in Louisiana: 6.68
• Number of burglaries per 1,000 homes in Monroe: 20.63

It’s important for Monroe residents to protect their homes from burglaries, break-ins, and vandalism. Be sure to install security lights and cameras, use deadbolt locks and leave your house lights on when you’re away from home. A home security system is one of the best ways to prevent break-ins. It can keep burglars away, alert you when break-ins are attempted, and may even help you get a discount on your home insurance.  

If you are the victim of a break-in or burglary, your homeowners insurance can help you make repairs and replace your stolen or damaged belongings. And your independent insurance agent will be there to relieve some of the burden by helping you through the claims process. 

Number of Disasters in Louisiana

• Number of recorded disasters in Louisiana: 90
• Number of tornadoes in Louisiana per year: 37
• Amount of property damage in Louisiana: $10,240,000
• 1 in 15 insured homes has a claim each year

A reliable homeowners insurance policy will enable you to make repairs to your home after a disaster. If you live in an area that is prone to floods, be sure to talk to your insurance agent about the importance of flood insurance. Flood damage is not covered by your homeowners insurance, even if it is caused by a severe storm or hurricane. Flood insurance is available from the National Flood Insurance Program (NFIP). 

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Liability Insurance for Monroe Homeowners

Homeowners may face claims of negligence at any time. If someone gets hurt on your property or your child or pet causes an injury or property damage, you may need to pay for the injured party’s property repairs or medical bills. What’s more, you could be sued and face extensive legal costs to defend yourself or settle the issue. Your home liability insurance covers the costs of these kinds of lawsuits. It pays for your court costs, attorney fees, and even any settlements or judgments that you are required to pay. It covers situations like:

• A guest getting injured on your property
• Your pet biting a passerby
• Your child damaging a neighbor’s home
• Accusations of slander or libel (e.g., you are accused of slander for something you posted online)

Some Monroe homeowners might want more liability coverage than their homeowners insurance allows. In these cases, a personal umbrella insurance policy offers supplemental liability coverage beyond the limits of your home insurance and car insurance. A local independent insurance agent can help you review your options and compare costs.

Second Home and Vacation Home Insurance

Second homes can be tricky when it comes to homeowners insurance. A house that is not your primary residence has additional risk factors. Your insurance company may require you to purchase different amounts and types of coverage than you would for your year-round home. Vacation homes are periodically unoccupied. Any home that is vacant for long periods is more susceptible to break-ins, vandalism, and water or ice damage. What’s more, you might not notice the damage for a while, causing it to worsen. Many vacation homes need vacant home insurance in order to be properly protected when something goes wrong. 

Owners of rental properties have a greater chance of being sued by tenants as well as additional liability risks. If you own a rental property, you might require increased liability coverage but less coverage for the contents of the property. Landlord insurance can help you properly cover your rental property. Your local independent insurance agent can help you obtain multiple quotes for your additional residential properties. You can choose the coverage that best fits your needs.

Why Work with an Independent Insurance Agent?

Independent insurance agents make comparison shopping for Monroe home insurance easy. Independent agents work with several different insurance companies, so they can help you find the right coverage for your needs and budget.

Contact a local agent for customized quotes now.