First-Time Homebuyer Insurance Guide
If this is your first home, the insurance side can feel like another language. We translate. Here's the short version:
- Your lender will require homeowners insurance in place before closing.
- In Louisiana, your lender will almost always also require flood insurance.
- Start the insurance conversation the day you go under contract — never the week of closing.
- We coordinate directly with your Realtor, lender, and title company so nothing slips.
Insurance Requirements Before Closing
Your closing day depends on three documents being in your lender's hands:
- Homeowners insurance binder showing the lender as mortgagee.
- Flood insurance binder (if your zone or lender requires it).
- Premium paid receipts for the first year.
We handle all three and send them where they need to go.
Homeowners Insurance, Explained
A Louisiana homeowners policy has six core coverages. The most important conversations are:
- Dwelling coverage — set to rebuild cost, not market value.
- Hurricane / wind & hail deductible — usually 2–5% of the dwelling amount in Louisiana.
- Personal property replacement cost — pays today's prices, not depreciated value.
- Loss of use — hotel and meals if your home becomes unlivable.
Flood Insurance, Explained
Standard homeowners policies do not cover flooding — not one dollar. In Louisiana, flood insurance is one of the most important policies a family can own. We cover this in detail on the flood insurance resource center.