Lake Charles, LA Home Insurance Quotes!
Within the Calcasieu County region, Lake Charles, LA has a total population size of 71,993. Homeowners looking for home insurance quotes in this area have found very affordable rates with GetHomeInsuranceQuotes.com saving some in upwards of 55% with rates as low as $1,243 per year. There are over 91,420 homes in Lake Charles that are currently owned and occupied. Our services allow us to shop and compare up to 12 rates and coverage options. Our online home insurance quoting system allows us to easily do the shopping for you at no cost, that's right, it's free. You can easily get multiple quotes today by entering your zip code and compare the most competitive Louisiana rates available or give us a call now at 1-855-976-2656.
Lake Charles, LA Housing & City Data
| Source | Value |
|---|---|
| Location: | Lake Charles, LA (CALCASIEU County) |
| Population: | 71,993 |
| Occupied Residents: | 91,420 |
| Average Real Estate Value Per Zip Code: | $161,878 |
Average Lake Charles Home Insurance Rate Quotes
A common question that many Lake Charles homeowners are asking, is "What's the average annual rate for homeowners in Lake Charles, LA?" In other words, what is my neighbor paying for insurance and how can I save more money on my home insurance cost every month. The answer is easy, for homeowners living in Lake Charles, we see an overall average of $1,493 per year. Now based on this "average", your rates could be 40% lower if we compare with multiple carriers and apply all the discounts and package options available to you. We have seen rates as low as $1,243 per year. At GetHomeInsuranceQuotes.com, we save you time and money by shopping all these rates for you. When comparing rates, it's also important to know that the average premium paid by homeowners within the United States is $1,311 paid annually.
In order to gain an understanding of how your rate will be compiled, we have listed a few helpful resources to help you understand replacement cost value, home insurance credits and home features that help discount your premium.
Top 5 Helpful Saving Resources
- This home insurance calculator will calculate your dwelling coverage for your home in Lake Charles, LA so you know what type of home insurance coverage you need to cover your replacement cost.
- Here are the top five homeowners insurance discounts that you may not be aware of in Louisiana
- Installing smoke detectors, a security system and getting the same home and auto policy with the same carrier is a good start but to really kick-start your home insurance savings you have to dig a bit deeper. Here are the top 3 home insurance credits available to homeowners.
- FAQ: What is a Lake Charles, LA Homeowners Insurance Policy?
- FAQ: What does a replacement cost coverage and actual cash value mean for my home in Lake Charles, LA?
Compare Homeowners Insurance Rates in Lake Charles, LA!
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Average Rates Nearby Lake Charles
Are you looking for homeowners insurance in a city near Lake Charles? Review coverage options and average rates in your area by clicking your city below. We can help you shop home insurance rates!
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Home Insurance Rates by Zipcode in Lake Charles, LA
Easily review average rates and get multiple homeowners insurance quotes by clicking your zip code below located in Lake Charles.
Lake Charles, LA Home Insurance Average Premiums
$1243 /yr.
For the city of Lake Charles, homeowners insurance rates may vary on deductible, coverage amount and property details. Below is a list of the averages based on the cost of an annual home insurance premium.
| Coverage Amount: | Annual Premium |
|---|---|
| 1800 sq. ft. or below (discounts applied) | $1243 /yr. |
| Average Coverage: | $1493 /yr. |
| 2600 sq. ft. or higher (all discounts applied) | $1793 /yr. |
What is the average home insurance cost for a home in Lake Charles, LA?
- • The average homeowners insurance premium paid annually for a home in Lake Charles is around $1493 per year.
What does it cost on average per month for home insurance in Lake Charles, LA?
- • Homeowners in Lake Charles pay an average cost per month around $124.00 for insurance coverage.
Lake Charles, LA Coastal Wind, Hail & Flood Information
Lake Charles is located in a coastal county which greatly increases the risk of hurricanes and windstorms. Our quoting process will include wind and hail coverage options to give you the best protection you need against high winds and storm damage.
Flood Zone Notice: The beautiful coastal city of Lake Charles is know for it's beautiful beaches and waterways. Because Calcasieu Parish (FIPS: 22019) has a shoreline and is in a coastal area it is important to purchase flood insurance. The risk is very high in this area and we will work with you to provide the best flood insurance coverage you need for your home in Lake Charles, LA.
Lake Charles, LA - 2023 Housing Information
| Month | Current Home Value (2023) | Last Year Home Value (2022) |
|---|---|---|
| January | $182,860 | $179,099 |
| February | $182,332 | $179,512 |
| March | $182,543 | $180,376 |
| April | $181,955 | $181,440 |
Homeowners insurance will help cover the cost to repair or replace your Lake Charles home if it is damaged or destroyed by a covered peril, up to your coverage limits. A homeowners policy is made up of a few different coverages. Here are the most common coverages:
- Dwelling: This coverage will pay to repair or replace the structure of your home if it is damaged or destroyed. Review and Calculate Replacement Cost Coverage in Lake Charles
- Liability: This coverage will help cover medical and legal bills if someone is injured in your home, slipping on an icy sidewalk for example. It also offers protection if you damage another person’s property, your child hitting a baseball through a neighbor’s window for example.
- Contents: This covers the cost to replace your personal possessions that are destroyed by a covered peril. Furniture, electronics, clothing and household goods are excellent examples. Contents coverage is often capped at 50% to 70% of your dwelling coverage.
- Other Structures: This coverage protects other structures on your property such as detached garages, outbuildings, barns, and sheds.
- Loss of use: This covers everyday costs that you incur if you cannot live in your home while it is being repaired due to a claim. It will pay hotel and restaurant bills and even the cost of dry cleaning.
Get up to 12 competitive Lake Charles, LA homeowners insurance rates all in one place! |
Saving Money Tips on Lake Charles Home Insurance
A great way to save money on Lake Charles homeowners insurance is to make sure you are getting all the discounts you are qualified to receive. Here are just a few of the most common discount’s insurers offer:
- Bundling: If you purchase your home and auto (or any other insurance coverage) from the same insurer, you should get a bundling discount. Expect to save 20%-25%.
- Secure your home: Adding a monitored security system, water leak sensors, deadbolts, and smoke detectors should result in a discount.
- Impact resistant roof: If you are replacing your roof, consider impact resistant roofing materials which help prevent hail and impact damage as well as resulting in a significant discount.
- Stay claim free: If you have been claim free for a number of years (five is a common requirement) your insurer should offer a claim free discount.
Are you shopping for the best rate near or wihin the Lake Charles area? Check out what homeowners are paying on average for Louisiana homeowners insurance.
Elevation Review for Coastal Wind or Flooding Risk
| Elevation | Details | Homeowners Tips |
|---|---|---|
| 12 ft. | This is the average home elevation in Lake Charles, LA | » Elevation is crucial to a homeowners insurance policy because it determines the risk of your home being in a flood zone which is particularly important in a coastal state such as Lake Charles, Louisiana. A standard homeowners policy does not cover flood damage. If you live in a flood prone area, you will need to purchase a separate flood to fully protect your home. Flood insurance can be purchased via the National Flood Insurance Program (NFIP) or in the private market. NFIP policies come with coverage caps and other restrictions so you may need to supplement your flood insurance coverage with a private market policy. It's important to remember that flooding occurs in low and moderate risk areas as well. According to FEMA data, almost 25% of all flood claims come from low to moderate-risk areas. |
To get online quotes on your home and compare rates on home insurance premiums in Lake Charles, enter your zip code above and easily complete our online quoting application. Remember, it's important to speak with us about additional home insurance discounts so you can get the best rate for your home in Calcasieu County.
Louisiana Homeowners Insurance News & Information
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$4.5B Estimated In Insured Losses After 2024 Florida Hurricanes Posted on Wednesday 13th November, 2024
According to the Florida Office of Insurance Regulation, the three hurricanes that made landfall this year have caused more than $4.5 billion in estimated insured losses. Hurricane Debby, Helene and Milton all hit the state within two months of each other Helene and Milton struck just two weeks apart. State data show that over 269,000 […]
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I can’t afford my home insurance, what do I do? Posted on Saturday 9th November, 2024
According to data from the National Association of Realtors (NAR), the average U.S. insurance rate is $2,377 a year. The data also suggest that homeowners could see a 6% rise in rates by the end of the year which is in addition to the 20% increase over the two previous years. As climate change pushes […]
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How to Get the Best Homeowners Insurance Policy for Your Needs Posted on Wednesday 6th November, 2024
Having the proper insurance coverages in place is a critical part of owning a home, it protects your investment and finances in the event your home is destroyed by an unexpected disaster such as a fire, flood or severe storm. Understanding the different coverages that are available to homeowners is key to making sure you […]
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Homeowners Shopping Rates Due to Rise in Premiums Posted on Monday 23rd September, 2024
According to the recently released J.D. Power 2024 U.S. Home Insurance Study a nationwide rise in premiums has driven many customers to shop for new policies as their rates are now too high. “’The average shopping rate among home insurance customers has climbed to a record high of 6.8% through the second quarter of 2024, […]
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Where is it cheaper to rent than to buy a home in the United States? Posted on Thursday 5th September, 2024
According to a new study from Clever Real Estate, a St. Louis-based real estate company, monthly rent costs are actually cheaper than a monthly mortgage payment in 48 of the 50 most populous cities in the United States. Their analysis looked at mortgage principals, interest, taxes as well as homeowners insurance and they found that […]
Lake Charles, LA Dwelling Coverage Estimate
It is important to calculate your dwelling coverage for your home in Lake Charles so you know what type of homeowners insurance coverage you need to cover your replacement cost. It is recommended to have enough dwelling coverage to rebuild your home if it was destroyed by a covered peril.
Please remember that replacement cost coverage does not include the cost of the land, only the price to rebuild your home, which is why we like to help customers by answering a few questions that you may have.
What is the average replacement cost coverage in Lake Charles, LA?
- The average square footage in Lake Charles is around 1,327 Sq. Ft. which would cost you around $161,878 to replace the home if you base the home on the price to build per square foot of $122.
Minimum Replacement Cost Total: $161,878
Location: Lake Charles, Louisiana (Calcasieu County)
Average Building Cost Per Square Foot in Lake Charles: $122 (low end)
Average Square Footage in Lake Charles: 1,327 Sq. Ft.
| Home Improvement Status | Price per Sq. Ft. | Dwelling Coverage |
|---|---|---|
| None or Very Minor Improvements | $122 | $161,878 |
| Some Additional Upgrades | $153 | $202,347 |
| Major Home Updates or Advancements | $183 | $242,817 |
The dwelling coverage is calculated by the average cost per square foot ($122) in Lake Charles, Louisiana times your heated square footage. Which would equal the cost to rebuild your home minus the cost of the property or land. Some homes will have a higher replacement cost due to home improvements like updated kitchens and bathrooms. Other upgrades may include: granite countertops, hardwood floors and stainless steel appliances. The national square foot average to build a brand new home is around 2500 square feet. So if you are looking to build, and your square footage of your new home is 2500, you are looking at a dwelling coverage premium of around $381,250 (Media price to build of $153 x 2500 sq. ft.) to cover the cost to rebuild your new home.
What is the difference between actual cash value and replacement cost value?
Homeowners insurance is available in both actual cash value (ACV) and replacement cost value (RCV). Knowing the difference is important:
Actual cash value: When valuing your personal possessions, an actual cash value policy will take depreciation into account. This means that your 10-year-old TV will be basically worthless according to your insurance company. While an ACV policy tends to be cheaper, if you have to make a claim you may be disappointed in your claim payout.
Replacement cost value: A RCV policy will replace your possessions with brand new items of similar quality regardless of how old they were at the time they were destroyed. While RCV policies are slightly more expensive, they are well worth the cost if you have to make a claim.