Home Insurance in Monroe, LA
Discover information and options for home insurance in Monroe.
Located in northeastern Louisiana, Monroe enjoys natural scenic beauty and easy access to the Ouachita River and Bayou DeSiard. Named for the James Monroe steamboat, the settlement began as an outpost and grew into a bustling city due to extensive trade. With its rich history and local culture, Monroe is home to diverse population and economic opportunity.
The U.S. Census Bureau estimated Monroe's population at 46,820 in 2022. The Monroe metropolitan area includes Ouachita. Union and Morehouse parishes, with 202,869 people as of 2022. The median age of Monroe residents is 37.5. reflecting a more middle-aged population.
Monroe's median home value is $182,695. Single-family homes comprise 72% of area dwellings, and 59% of Monroe locals own their primary residences. Indemnity protection is a must to preserve homeowners' financial futures. VIU by HUB simplifies shopping for insurance to cover your home in Monroe.
What are your home insurance needs? Many factors affect what you'll pay, but knowing coverage types and risks can help you choose wisely.
Monroe homeowners pay an average yearly home insurance premium of $2,230. which equals $186 per month. While this is lower than the state average, it exceeds the national average of $1,820 per year. Critical aspects impacting premiums include a home's value, age, and location, along with a homeowner's previous claims history and credit score. Other considerations include environmental risks such as flooding and hurricanes.
Risk Factor states that the city has a moderate risk for flooding. Around 34% of area properties have a 26% or greater risk of being affected by severe flooding. Monroe also has a severe wind risk, with 64% of its homes potentially impacted by wind damage. While tornadoes have occurred in the region, primary wind risks come from hurricanes.
A standard home insurance policy protects against financial losses to your residence and its content. Covered losses include events such as fires, storms, hail, severe winds, falling objects, vandalism, theft, mischief, and civil unrest. Your policy should contain four key components:
Mortgage companies may also require homeowners to carry flood insurance, especially in higher-risk areas like Ouachita Parish. Flood insurance is not included with most policies and must be purchased separately. High-value items such as jewelry and heirlooms may also need additional protection. You can purchase these add-ons when shopping for a home insurance policy through VIU by HUB.
Your home is yours. It's unlike anyone else's in Ouachita Parish. That's why personalized home insurance in Monroe is vital to protecting your residence, family, and future. Shop for insurance with VIU by HUB, where you can compare quotes, examine coverage options, and buy your policy directly from your carrier of choice.
This information is intended for general informational purposes only and is not intended to constitute legal advice.
Insurance Information Institute
