ZIP 70403 Insurance Data

Data Snapshot: ZIP 70403 (Hammond, LA)

ZIP 70403 (Hammond, LA) shows an average homeowners insurance premium of $2,435 per year as of 2022, based on U.S. Treasury FIO ZIP-level observations across approximately 233 reported policies. That is 37% above the national average of $1,776 per year, placing this ZIP in the 87th percentile nationally. Compared to the Louisiana state average of $2,539, this ZIP runs 4% below, reflecting neighborhood-level differences in catastrophe exposure, property age, and claims history.

The loss ratio for ZIP 70403 is 199.6%, 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 14.30%, and the average claim severity (amount paid per claim) is $33,985. Nonrenewal — insurers declining to extend coverage at policy expiration — occurs at 0.81% in this ZIP, a rise of 196.1% over the past five years; rising nonrenewal often signals insurer retreat from high-risk markets.

Across 5 years (2018–2022), premiums in ZIP 70403 have risen by 3.0%, ranging from $2,365 to $2,435 with a five-year average of $2,400 — an annualized rate of +0.7% 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.