Insurance 101: Understanding homeowners insurance in 2022

Published 1:17 am Saturday, January 15, 2022

The start of a new year is the perfect time to contact your agent or insurance company to review your policies and confirm you have adequate coverage. Your home may be the most expensive item you will ever purchase and your most valuable investment. Homeowners insurance covers the structure of your home and property as well as liability for injuries to others while they’re on your property. The price of a policy depends on several factors including: the cost to rebuild your home, its age and condition, the coverage and deductible, etc. A higher deductible may save money on your insurance premium. Some companies offer multi-policy discounts if you bundle your insurance policies. Also, keep in mind a homeowners policy does not cover floods; you must buy a separate policy to cover flooding.

Shop Your Rates

The Louisiana Department of Insurance encourages policyholders to shop their insurance rates to ensure your coverage fits your budget. Our online system can help you compare automobile and homeowners insurance rates among companies statewide. The guides will not give you an exact estimate of the cost of your insurance but will show you sample rates and how they vary among companies.

Medicare Advantage Open Enrollment

The Medicare Advantage Open Enrollment period runs January 1 through March 31, 2022. Medicare beneficiaries have an opportunity to change to a different advantage plan, switch to original Medicare or join a separate Medicare drug plan.  Our senior health staff wants to remind beneficiaries you can only make one change during this open enrollment period. Also, any changes you make to your coverage will take effect the first month after the plan receives your request. If you have questions or need assistance, call us at 800-259-5300.

Stay Connected with the LDI

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The Louisiana Department of Insurance works to improve competition in the state’s insurance market while assisting individuals and businesses with the information and resources they need to be informed consumers of insurance. As a regulator, the LDI enforces the laws that provide a fair and stable marketplace and makes certain that insurers comply with the laws in place to protect policyholders. You can contact the LDI by calling 1-800-259-5300 or visiting