Renters Insurance Louisiana
The average estimated cost of a rental insurance policy in Louisiana was $183 a year in 2013. Renters insurance is cheaper than most people realize; average homeowners insurance is $1300 a year in Louisiana
Comparing Renters and Owners Insurance in 2013 in Louisiana
The landlord's policy does not cover renter's damages like burglary. There were 42140 burglaries reported in Louisiana in 2012. So, to protect one from events like fire, burglary or other disasters renters insurance is required.
Renters Insurance Coverage Types:
Actual cash value policy:
The Actual cash value policy covers the depreciated value of loss. An example of this is – a $4910 Camera might be worth only $2460 in six months and that is the amount the insurance pays for.
Replacement Coverage Policy in Louisiana:
- Quoting the same example, the insurance essentially may not pay for the Camera but one will get adequate amount to buy another laptop same as the lost/damaged one. The replacement cost insurance in Louisiana costs around $45.75 more than the actual cash value policy.
- Taking into account the median rent in Louisiana as $1100, the average renters insurance of $20 per month is 1.82% of median monthly rent.
Estimated Renters Insurance for Different House Types in Louisiana
|House Type||Median Rent||Estimated Renters Insurance|
Deductibles in Louisiana:
An average of $20.13 can be saved on the insurance premium by choosing a $500 deductible over a $250 deductible.