New Orleans


Homeowners insurance can be expensive.

Its doesn’t matter if you are in Metairie, Kenner, New Orleans or in Marrero on the Westbank.

We all pay more for homeowners insurance than our neighbors in other areas of Louisiana.

It is not just Hurricanes starting every June.

We have been hit with hail storms too.

Even a minor hail storm could result in massive roof claims for the insurance industry.

When everyone gets a new roof our rates go up at renewal.

The good news.

We now have options.

Don’t like your insurance agent or agency?

Don’t like they way your claim was handled by the company?

Homeowners insurance rates are going up at renewal?

Now could be the time to see if the home insurance rate your received when you first purchased your policy is still competitive.

How much does New Orleans Homeowners Insurance Cost?

This depends are many underwriting factors, but not limited to

  • Year built of your house
  • Square feet determines insured value (replacement cost)
  • credit score (some companies don’t use credit scoring)
  • claims history (weather claims are ok)
  • hip roof vs gable roof
  • update credits (roof, plumbing, electrical, heating a/c)
  • zip code (rates can be different per zip code)
  • brick or frame construction

Recent Customer helped


With more homeowners insurance companies entering the New Orleans market, we are seeing some aggressive pricing from a few companies.

Rates that were very high after Katrina are now falling.

Due to the current pricing, you should review your home insurance policy every three years.

We recently received a call from a home owner in New Orleans and she asked if we could provide her a more competitive quote on her insurance.


NEED:  Customer called recently and needed a home insurance quote because she didn’t understand why her premium has gone up every year with no claims.


PROBLEM: Renewal offer received and the premium was now over $8,000


NEEDS ANALYSIS:  We were able to review the current renewal offer with the customer, determine proper transfer of risk assessment of deductibles and present a more affordable option.



1)  On a 450,000 insured value of the house, paying over $8,000 was excessive and was not what we have been seeing in the current market.


2) The Liability limit was only 100,000.


Due to the value of the house, we recommended 500,000 of liability for a minimal increase in premium to properly protect our client.  By getting a 500,000 limit (you only need 300,000), we were able to offer her an Umbrella policy.


a) You can qualify for a 1,000,000 umbrella policy for a minimal annual cost and with litigation expenses on the rise every year,  100,000 is not enough to protect your assets.

b) The cost of increasing your liability from 100,000 to 500,000 was an increase in premium of $46.


3) Customer wanted a lower deductible for all other perils/claims not a hurricane.

She had a $5,000 all other perils deductible and we were able to get her a $1,000 all other perils deductible.

So any claim that is not hurricane related,  would be subject to a 1,000 deduction on a future claim check.

Although we recommended her to keep her 5,000 deductible due to the value of her house and clean claim history,  she said she was more comfortable at this time with a lower deductible.




1) Reduced premium from $8,138 to $5,527 without lowering the insured value of the home at 461,000.


Savings of $2,611 annually


2) Provide more liability protection of $500,000.


3) Lowered her 5,000 all other perils deductible to 1,000


Buying homeowners insurance can be an easy process as long as you understand what you are buying.

If you just set your home insurance renewal on auto pilot to have your mortgage company pay your renewal,  you may be paying way too much in premium because you failed to review your policy.

What may have been a very competitive premium years ago,  may not be competitive in our current market.

You can be fully protected at an affordable premium when you are able to speak with someone that understands the New Orleans homeowners insurance market.

You may be giving more money to the insurance company than you need to.

Keep more of your money instead of giving it away to an insurance company.

What endorsements should I have on my home insurance policy?


It is often believed that when you buy a homeowners insurance policy,

everything is covered.

If this were the case, you would only receive a receipt not a policy.

The policy is filled with complicated wording basically explaining what is not covered.

Endorsements available to you

  • Water Backup (usual limits up to $25,000)
  • Personal Injury (libel or slander or sharing your opinion on facebook)
  • Replacement Cost Contents (some agents remove this to get the price down)
  • Special Personal Property (added covered perils such as power surge)

What type of Homeowners policy do I need?


In New Orleans the standard policy is the HO-3 Special Form.

You should ask for an HO-3 policy when you are looking for homeowners insurance.

Some agents will try to sell you an owner-occupied Dwelling Three (DWG-3)

Either they don’t know the difference or they are trying to lower the premium to be more competitive.

HO-3 Special Form vs Dwelling Three DWG-3

You lose three things when you buy an owner occupied dwelling policy instead of a homeowners policy.

Three things you lose

  • No theft coverage of your contents
  • No water backup coverage
  • No Replacement Cost on your contents (personal property)

Are all my contents covered under my policy?


Every homeowners policy has limitations for certain items such as

  • jewelry
  • cash
  • collectibles
  • guns
  • computer equipment


If you want the full replacement value of any of the items above you need to schedule the items on your homeowners policy and pay an additional premium.

If any of the above items are stolen,

you will only receive

  • $2500 Jewelry (not per item but all of it)
  • $1500 Guns and all related equipment (max payout)
  • $1000 Collectibles (posters, baseball cards, wine, stamps, etc)


Also Lost or Mysterious Disappearance is not covered on your Homeowners policy for the items listed above.

Two things you need to do if you want full value coverage for your special items


You can schedule each item on your policy and pay an additional premium


You can purchase a stand alone property policy that will cover your

  • jewelry
  • guns
  • art collections
  • collectibles


A stand alone policy will provide much more extensive coverage.

You will get

  • worldwide coverage
  • lost or mysterious disappearance
  • full replacement value 


Here are some common reasons customers reach out to us.


  • you received another homeowners renewal increase
  • you don’t like your agent or insurance company
  • you think you might be paying too much
  • you were canceled by your existing company
  • you can’t get in touch with your current agency or agent
  • you still have a 5% Hurricane deductible


If any of these apply to you, you may have an Insurance problem.

Now is the time to review your homeowners insurance.  All of the major national insurance companies are either no longer writing new policies or they don’t offer wind coverage. They make you purchase a “split policy” and force you to get wind coverage from Louisiana Citizens Fair Plan.

There are better options available to you. Companies are offering lowering hurricane deductibles now.

If you are buying a new house or just trying to lower your renewal premium, we can help.

At FM Agency Group we represent more than one homeowners insurance company and no one insurance company is competitive on every house.

Some insurance companies are very competitive in Kenner. Some have low rates in Metairie while others low rates on the Westbank including Marrero and Harvey.


Although we can write homeowners insurance in all of Louisiana, we are most competitive in South Louisiana where historically insurance premiums are very high.  


Hail storms and Hurricanes in South Louisiana are no stranger to homeowners insurance claims. It is difficult for most insurance companies to make a profit in our area but with each quiet hurricane season, more insurance companies consider entering the insurance market.

More companies equal lower rates due to increased competition. We are seeing some companies writing low flat deductibles including hurricane deductibles as low as $1000. Some might say in our area that is just irresponsible underwriting but maybe if the insurance companies are offering these type of deductibles, you should consider them.

The only issue and one you should concern yourself with is when the next hurricane hits our area, and it will, which insurance company is still going to be around?

Which one has the financial strength and steady rate stability to pay claims and keep writing new business when disaster strikes again.

If you are ready to have a conversation about your New Orleans homeowners insurance needs, give us a call or complete our quick form to get started.