Cost of Flood Insurance in Louisiana and How Coverage Works
Flood insurance in Louisiana costs an average of $826 per year for a policy from the National Flood Insurance Program (NFIP).
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The state of Louisiana doesn't require you to buy flood insurance. However, if you live in an area at high risk of flooding, such as along the bayou or the Mississippi River, you may need to buy flood insurance to get a mortgage.
You can buy flood insurance from the National Flood Insurance Program (NFIP) or a private company. Private flood insurance has higher coverage limits. But only the NFIP guarantees coverage to everyone.
How much is flood insurance in Louisiana?
The average price of a National Flood Insurance Program (NFIP) policy in Louisiana is $826 per year for a policy with around $283,000 of coverage.
Any company selling an NFIP flood policy will give you the same price. That's because the rates are set by the Federal Emergency Management Agency (FEMA).
The distance from your home to a body of water is the biggest factor in determining your flood insurance rates.
Louisiana flood insurance rates by city
City | Avg. annual cost |
|---|---|
| Abbeville | $1,075 |
| Abita Springs | $699 |
| Acadia Parish | $856 |
| Addis | $481 |
| Albany | $1,292 |
Rates are for a policy from the National Flood Insurance Program (NFIP).
The most expensive city in Louisiana for flood insurance is Homer, which is near Lake Claiborne. Flood insurance in Homer costs an average of $1,967 per year.
The cheapest city is Cheneyville, with an average price of $306 per year.
What affects flood insurance quotes in Louisiana?
Your home's elevation, how far it is from the water and any nearby levees all affect how much you'll pay for flood insurance. Rates also depend on how high the lowest level in your house is.
For example, if your house and your neighbor's house are at the same elevation but they have a basement and you don't, they will pay more for flood insurance.
Factors that affect flood insurance rates
- Elevation above sea or river level
- Height of your home's lowest floor
- Whether you have a basement
- Distance from body of water
- Whether you have flood vents
- Coverage levels and deductible
- Flood mitigation tools (e.g., levees)
Just like other types of insurance rates, your flood insurance rates depend on how much coverage you buy and your deductible. More coverage or a lower deductible results in higher rates.
Do you need flood insurance in Louisiana?
The state of Louisiana does not require homeowners to have flood insurance.
Homeowners who live in high-risk flood areas may need flood insurance to get a mortgage.
High-risk areas include coastal cities, like New Orleans, or low-lying areas, like bayous. Homes near a large body of water, like the Mississippi, Red and Atchafalaya rivers, can also have a high risk of flooding.
Even areas that are simply lower elevation than surrounding areas can be at risk. Southeastern Louisiana gets about 70 inches of rain per year. That's the most in the continental U.S.
Even if your mortgage company doesn't require flood insurance, it may still be worth it to buy coverage. That's because Louisiana homeowners and renters insurance policies do not cover flood damage.
People outside high-risk flood zones make 25% of flood insurance claims. And flood insurance claims are very common in Louisiana. It's routinely among the states with the most flood claims in the country.
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LA flood insurance coverage
Louisiana residents can buy flood insurance through the National Flood Insurance Program (NFIP) or a private insurance company.
The NFIP offers coverage limits of up to $250,000 for the structure of your home and $100,000 for your belongings. Private flood insurance policies may offer more coverage.
Not everything is covered by an NFIP flood insurance policy. Generally, it protects the structure, any permanent fixtures and any property that's inside your home. The rules are more complicated for anything in your basement or crawl space.
Items covered by NFIP flood insurance
- Standard home systems including your home's electrical wiring and plumbing, heating and air conditioning and gas.
- Flooring and installed features like wall-to-wall carpeting, shelves and built-in bookcases are all covered by flood insurance.
- Foundation, walls and support structures including staircases, as long as they are attached to your house.
- Detached garages are covered up to 10% of your total policy dwelling coverage.
- Portable appliances like your oven, refrigerator and washing machine are generally covered.
- Personal property including clothing, furniture, area rugs and electronics.
The NFIP will fix your home with brand new materials, regardless of any wear and tear before the flood damage. This is called replacement cost coverage. However, this only applies if you live in a single-family home and it's your primary residence.
If your personal belongings are damaged in a flood, the NFIP will pay you based on the condition of your things prior to any damage. That means you may only get enough money to buy used items. This is called actual cash value (ACV).
Example
If Hurricane Ida damaged some of your walls and furniture, you would get enough money to replace the walls with brand new ones. However, you'd only get enough money to buy furniture that was in the same condition as what you lost.
What's not covered by flood insurance in Louisiana?
Flood insurance doesn't cover everything. Your car, jewelry or gold and silver, as well as property outside your home like a pool or garden, are not covered. Flood insurance also doesn't cover damage from moisture, mildew, rot or anything damaged by earth movement, like a sinkhole.
NFIP Flood insurance does not reimburse you for a hotel if you can't stay in your home.
NFIP flood insurance does not cover lost business income. For example, if you operated a day care in your home, and you evacuated because of Hurricane Laura in 2020, you can claim damage to your property and supplies. But flood insurance won't reimburse you for any money you lost because your business was closed.
Items and expenses not covered:
- Things outside your home
- Cars and most other vehicles
- Currency and precious metals
- Living expenses or loss of use
- Loss of business revenue
- Any personal property in a basement
Causes of damage not covered:
- Moisture, mildew or mold that could have been avoided
- Damage caused by earth movement
If you need coverage for any of the above, you should consider private flood insurance.
How to get flood insurance in Louisiana
To buy flood insurance in Louisiana, you'll need to contact an insurance agent. An agent can help you decide on coverage levels and get you a quote. You may need to provide a document that shows how high above water your house is, called a proof of elevation.
While you should always collect multiple quotes for home, renters and auto insurance, you don't need to do so to get a policy from the National Flood Insurance Program (NFIP). That's because the NFIP is backed by the government, so an NFIP policy costs the same amount regardless of what company you buy it from.
There is almost always a 30-day waiting period for NFIP insurance.
If you're concerned about flooding during Louisiana's rainy summer and fall seasons, make sure to buy a plan ahead of time.
If you don't qualify for NFIP coverage, or the coverage doesn't meet your needs, you may want to get coverage from a private flood insurance company. Private flood insurance offers higher limits and may have better rates, especially for lower-risk homes.
Frequently asked questions
How much is flood insurance in New Orleans?
Flood insurance in New Orleans costs an average of $774 for a National Flood Insurance Program policy with around $297,000 of coverage. That's $52 per year less than the Louisiana state average.
What is flood zone X in Louisiana?
Flood zone X means your area is likely to have a major flooding event every 500 years. Homeowners in Zone X don't typically need to buy flood insurance to get a mortgage. However, you may still want to consider getting coverage because regular homeowners insurance doesn't pay for damage to your home or belongings caused by floodwater.
Methodology
ValuePenguin found average flood insurance rates in Louisiana by comparing total premiums, the number of policies in force and coverage amounts provided by the Federal Emergency Management Agency (FEMA).
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