There is no short answer to this question, but there are statistics available online to give you an idea of how much homeowners spent, on average, in your state. According to this chart, homeowners in Louisiana spent an average of $1,722 annually in 2015. The best way to find out how much your homeowners will cost, or how much you can save, is by getting a quote from an independent agent.
Many factors affect the premium of your policy. Those factors include characteristics of your home, your choices for coverage, and characteristics of your insurance and claims history, as well as your credit history, in some cases.
Some characteristics that insurance companies assess are:
- The cost to rebuild your home. What is the replacement cost of your personal belongings and home?
- The type of material the structure of your home is made of. Is your home made of brick or wood?
- The distance from your home to a water source or fire department and the quality of your community’s fire protection services.
- The age and condition of your home.
- The claims history of your home and of homes in your area.
- Whether or not you have protection devices in your home. (Smoke detectors, burglar alarm, sprinkler systems, deadbolts on doors, security devices for windows.
- The types of pets you have. Some insurers won’t insure you if you own certain breeds of dogs.
- Whether or not you operate a business from your home.
- Whether your home has covered or screened porches or patios.
The choices you make, along with your history, can also affect your homeowners insurance premium:
- Optional endorsements.
- Level of coverage.
- Choosing your deductible.
- Insuring your home and autos with the same insurance company.
- Your history of filing claims for water damage, fire, theft or liability on homes you’ve owned.
- Your credit history can affect your final premium with many carriers.