ZIP 70374 Insurance Data

Data Snapshot: ZIP 70374 (Lockport, LA)

ZIP 70374 (Lockport, LA) shows an average homeowners insurance premium of $3,238 per year as of 2022, based on U.S. Treasury FIO ZIP-level observations across approximately 55 reported policies. That is 82% above the national average of $1,776 per year, placing this ZIP in the 96th percentile nationally. Compared to the Louisiana state average of $2,539, this ZIP runs 28% above, reflecting neighborhood-level differences in catastrophe exposure, property age, and claims history.

The loss ratio for ZIP 70374 is 360.2%, meaning insurers paid out more in claims than they collected — a signal that premiums may rise or carriers may exit. Claim frequency — the share of policies with at least one claim — is 42.35%, and the average claim severity (amount paid per claim) is $27,543. Nonrenewal — insurers declining to extend coverage at policy expiration — occurs at 0.49% in this ZIP; rising nonrenewal often signals insurer retreat from high-risk markets.

Across 5 years (2018–2022), premiums in ZIP 70374 have risen by 30.4%, ranging from $2,482 to $3,238 with a five-year average of $2,718 — an annualized rate of +6.9% per year. FIO data aggregates voluntary reporting from the 40 largest homeowners insurers, covering roughly 80% of the U.S. market, so figures represent market averages rather than individual policy quotes; your own premium will vary with dwelling value, deductible, coverage limits, construction type, and insurer-specific underwriting. This page is educational research only and is not insurance advice — homeowners should request quotes from multiple licensed carriers or an independent agent before purchasing or renewing coverage.