For Metairie and Greater New Orleans Area
Most often homeowners in Metairie and the Greater New Orleans area do not know what their homeowners insurance policy covers until tragedy strikes. Since cost is a consideration, working with a Landeche Insurance Agent who is familiar with the needs of local residents can help you find the right coverage. For homeowners insurance in Metairie and the Greater New Orleans area, we offer a variety of policies to suit your needs:
This is the “basic” policy for homeowners. It covers the cost of replacement of the house, its contents, and any outbuildings. The HO1 policy only protects you from 10 specific perils. If something else happens to your home not included in the list below, this policy will not cover the damage. The 10 specific perils include:
- Fire and lightning
- Windstorm or hail
- Riot or civil commotion
- Vandalism or malicious mischief
- Theft (may have limits)
- Volcanic eruption
This is a more comprehensive policy in terms of coverage. In addition to the basic causes of damage or destruction covered in an HO1 policy, HO2 also covers:
- Falling objects
- Weight of ice, snow, or sleet
- Accidental discharge or overflow of water or steam
- Sudden and accidental tearing apart, racking, burning, or bulging
- Sudden and accidental damage from artificially generated electric current
- All 10 perils listed within the H01 policy
This policy covers almost anything else that can happen to your home, unless the policy specifically excludes it. This policy covers the contents of your home at market value for the same 16 perils included in the H01 and HO2 policies. For an extra charge, you could get replacement cost for your contents. HO3 also covers the home at replacement cost as long as you insure the home between 80% and 90% of the replacement cost of the structure.
This is a renter’s insurance policy. This policy only covers your personal property, liability, and medical payments to others. It covers the same perils in the H01 and H02 policy. Most noteworthy, all contents are covered at replacement cost. This is good because the insurance company will not depreciate your contents.
First of all, this is a very comprehensive policy. As a result, this policy covers almost anything that can happen to your home unless the policy specifically excludes it. Most of all, it covers all contents of the home at market value for their replacement cost, even clothing and appliances. The main difference is that this policy covers contents the same as the dwelling, not just the 16 perils like the H03 policy. However, the HO5 policy is only available to newer homes built within the past 30 years or a home completely renovated within the past 40 years.
This policy is the standard home insurance policy for people who own condominiums. It works similarly to a renter’s insurance policy, and it also covers the structure and contents of the condo unit in the same way as an HO2 policy. The building manager’s own policy will cover the rest of the building. Most HO6 policies also cover living expenses if you are forced to temporarily vacate the building due to damage of some kind, and it will also cover you if someone is injured in your condo unit.
This policy is for very old homes that are too old to get regular home insurance coverage. Because old houses in New Orleans and even Old Metairie are very common, some clients might find this homeowners insurance policy to be the perfect fit. The HO8 policy covers the home itself and the contents under the same perils as the HO1. It is generally used on historic homes that have not been renovated. However, it only covers the structure for actual cash value, and not the standard replacement value that most policies offer.
A wind mitigation survey surveys your house to see how it was built and its exposure to wind born debris. Insurance companies are now offering this to their customers to save them money. The average cost for a survey is $200.00 – $250.00. For more information click here
It’s a good idea to talk to an insurance agent located in Metairie or the Greater New Orleans area before you purchase one of the above policies because the plans do have many parts to them. You may have questions about what the policy covers or what it doesn’t cover, or how much the policy will cover in case of loss. We can explain all the details of each policy, as well as advise you on how to deal with specific situations.
For example, you may have within your contents jewelry, watches, and other precious possessions. The basic homeowners insurance policy only covers $1,500 of those types of possessions. But what if they were worth a lot more than that? You would experience quite a loss that we could easily help you avoid. If you declare these items on the policy, it would cover their entire value. This is just one example of how we can help you protect your valuables.
Ready to get started?
A lot of people think they are covered until they experience a loss and then realize they are not. We at Landeche Insurance Agency can help you get homeowners insurance quotes for your Metairie, Louisiana, residence. Give us a call today!
And remember, it’s important to know your stuff. If you have a homeowners insurance claim, the insurance company will need to know what you own. It is a good idea to make a home inventory list. Here is a free home insurance inventory website.