Louisiana Home Insurance

More options for you will result in lower rates

At FM Agency Group we don’t work for any one insurance company

We obtain a contract to represent an insurance company and recommend that insurance company to our customers

But they have to meet certain criteria

 

HOW TO CHOOSE THE RIGHT HOME INSURANCE COMPANY

 

Claims

They must be able to respond to claims in a timely manner

Home insurance is just a piece of paper if the insurance company does not investigate and take care of covered claims in a timely manner

 

Rates

We represent companies that have great rates…now….but what about next year?

There is no company that is the cheapest home insurance in Louisiana on every home

If they were that company would be out of business in a few years

 

Risk Appetite

Each company has certain type of homes they want

One company wants newer construction and excellent credit score and if you meet their appetite they will give a very low rate

The problem is most homeowners don’t meet their appetite

 

HOW MUCH DOES HOME INSURANCE COST?

 

The underwriting factors used to deliver your rate are below, but not limited to

Age of Home

Credit Score (not all companies use credit)

Brick or Frame construction

Hip shape roof or Gable shape

Mature homeowner (over 55 years old)

Companion discount (car, flood, rental dwelling, boat)

Monitored Burglar alarm

Monitored Fire alarm

Claims history

 

HOW MUCH INSURANCE DO YOU NEED?

 

We don’t recommend anything under $100 per square foot to rebuild your home minus the land value

Only a home builder or contractor would know the current cost per square foot to rebuild a home

We are seeing replacement cost estimators range from $100 to $140 reconstruction cost per square foot

but only you know what materials were used to build your home

An in the event of a catastrophe like a Hurricane Katrina the cost of materials would increase

Here is a recent article about 5 home insurance endorsements you need but probably don’t have

You may like IS YOUR HOME INSURANCE POLICY WEAK?

 

HOW MUCH PERSONAL PROPERTY OR CONTENTS DO I NEED?

 

Over the last few years home insurance companies are now allowing you to finally choose the amount you want to purchase

For many years you had no choice

You were forced to buy 50% of your home insured value

so if you had a home insurance policy for $300,000 you would get $150,000

If you only had $75,000 of property inside your home

you paid for $150,000 of coverage but would never get a check for $150,000

You can now purchase as low as 10% of the insured value on your policy

 

Only buy the insurance protection for the value of your personal property inside your home

 

Personal Property Formula

Go through each room in your home and determine $5,000 or $10,000 for the room

Add up the rooms and that is your personal property value

Document value for furniture, clothes and appliances

Jewelry, computers, antiques, guns, collectibles and art are very limited on a home insurance policy so if any one item is valued over $1500 you may need to add the item as scheduled on your policy and pay an extra premium to get it properly covered

 

If you are ready for a professional review of your home insurance protection

Call me Tim D’Angelo at 504.348.3131 or book an appointment that is convenient for you

 


⚠️New Lower rates in these zip codes listed below

New Orleans

Metairie

Kenner 70065

Marrero 70072

Gretna 70056

Harvey 70058


 

other articles you may enjoy

If I raise my deductible how much can I save?

3 Ways to lower your home insurance rate

Louisiana non standard home insurance (active claim history)