Average homeowners insurance cost in Lafayette, LA

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In Lafayette, homeowners pay an average annual rate of $3,458 for a coverage level that includes $300,000 for dwelling, $100,000 for liability protection, and a $1,000 deductible, according to Insure.com’s rate analysis. This is $954 more than the national average of $2,504.

Homeowners insurance premiums can vary significantly from one property to another. In Lafayette, the cost of home insurance is influenced by several factors, including:

Size of your home
Age of your home
Amount of coverage required
Location
Your credit score

It’s crucial to compare quotes from multiple insurers to ensure you get the best homeowners insurance policy. This allows you to find the coverage that meets your specific needs.

Read this guide to discover the monthly homeowners insurance cost in Lafayette, explore the insurance costs for different dwelling coverage, and find out which companies offer affordable home insurance in Lafayette.

Key takeaways

The average cost of homeowners insurance in Lafayette is $3,458 per year.
Progressive is the cheapest homeowners insurance company in Lafayette with an average annual premium of $1,315.
If you increase your dwelling coverage from $200,000 to $300,000, you will just have to pay $312 more a year for home insurance.

Average homeowners insurance cost in Lafayette per month

Lafayette homeowners pay an average of $288 a month, based on our rate analysis. It’s $10 less than the state average of $298 and $79 more than the national average for home insurance across the United States. The price of your homeowners insurance policy in Lafayette may vary depending on where you live, the value of your home, and the coverage you choose.

Average homeowners insurance cost for a $200,000 house in Lafayette

The average cost of homeowners insurance in Lafayette, LA is $3,146 annually for the dwelling coverage of $200,000 and the liability protection of $100,000. The amount you pay for home insurance each year depends on many different things. The types of natural disasters or events that take place in your area affect how much you pay for coverage in your city.

Some areas are more at risk for natural disasters, like flood, hurricanes, or tornadoes. This means that if something happens, the cost of rebuilding would be higher in those areas, thereby leading to higher insurance premiums. Your insurance policy might not cover damage caused by floods or hurricanes. So, if you live in a flood-prone area, consider buying flood insurance coverage.

Average homeowners insurance cost for a $300,000 house in Lafayette

As per rate analysis by Insure.com, homeowners residing in Lafayette typically pay an average of $3,458 annually to insure a home for coverage limits of $300,000 dwelling, $100,000 liability protection with a $1,000 deductible.

Your home insurance rates will be increased by $312 if you increase your dwelling coverage from $200,000 to $300,000. It is advisable to buy enough insurance sufficient insurance to cover the entire cost of rebuilding your home. However, the amount of dwelling coverage you need may vary depending on the size of your home, the features in your home, and the cost of living in your area.

Average homeowners insurance cost in Lafayette by company

Among the carriers analyzed, Progressive is the most affordable homeowners insurance company in Lafayette. It’s average annual rate for homeowners in Lafayette is $1,315.

Allstate, ranks second and State Farm makes it to the third spot with an average annual home insurance rate of $4,072.

Research on the company is essential before selecting a homeowners insurance policy. Insure.com has thoroughly examined all insurance companies operating in Lafayette and compiled a list of the most affordable home insurance companies.

Below are details of Lafayette home insurance companies and their average annual premiums.

Home Insurance Company	Annual rate
Progressive	$1,315
Allstate	$3,316
State Farm	$4,072
Farmers	$6,121
USAA*	$2,544

Methodology

Insure.com, with the help of Quadrant Information Services, gathered data for homeowners insurance rates in Lafayette for $300,000 dwelling coverage, $100,000 liability coverage with a $1,000 deductible. The data presented are those with a good credit tier alignment.