What is the Cheapest Car Insurance in Louisiana?
Get a fast and free car insurance rate comparison
Are you a Bayou State resident looking for affordable insurance to cover your vehicle? Whether you’re looking to save on your current policy or you’re purchasing car insurance for the first time, there’s an insurer who can meet your needs.
There are many factors to consider in purchasing your insurance—from the quality of the coverage to the navigability of your insurer’s app.
But when it all comes down to it, there’s one question on your mind—where can you get cheap car insurance in Louisiana?
This short guide will go over the factors that can affect Louisiana car insurance rates. It will also cover the top insurers with low-cost policies.
Factors that Affect Your Car Insurance Premium
Essentially, insurers offer lower rates to individuals they think will consistently pay the monthly insurance rates and have the least chance of filing a claim—a claim that the insurance company would have to pay. Insurers use certain factors to “predict” whether you’ll be a reliable customer and whether you’ll wind up costing the insurance company money. \ \ There are a number of demographic factors that can affect your car insurance, and drivers with specific issues may want to seek out an insurer who specializes in covering people like you. For example, if you’re a young Louisiana driver with an at-fault crash on your record, you’ll likely pay more for your car insurance than an older motorer with a spotless record.
Other relevant factors are:
Age – Teenagers pay by far the most for car insurance. Why? Because of their lack of driving experience. Insurers consider new, inexperienced drivers higher risk. The good news is that by the time you’re twenty-five, your rates should drop considerably. As you continue driving throughout your lifetime, your rates will continue to slowly drop (or at least plateau), although senior citizens often see a slight uptick in their rates.
Area – When you apply for insurance, you’ll provide potential insurers your address. From there, insurers may look up the claims history in your area to calculate your rate. If your ZIP code sees more accidents, thefts, and claims, you’ll likely pay more than someone in a safer area. For example, insurance may be more expensive in busy NOLA than nearby Slidell, for example.
Credit score – Insurers want a guarantee that you’ll make all your policy payments on time. Your credit history is a good indicator of your past spending habits. People with lower credit scores tend to pay more for car insurance, although some insurers specialize in affordable policies for people with below-average credit.
Housing – Did you know that homeowners pay less in insurance than renters? That’s because they’re considered more financially stable and reliable. It’s also less likely they’ll move to another geographic area during their insurance term, guaranteeing consistent insurance rates for the insurance provider.
Driving history – If you have claims, at-fault accidents, or DUIs on your driving record, it indicates that you may be more likely to make a claim than another driver. People with poor driving histories can expect to pay more in auto insurance.
Vehicle – The car you drive is also a factor in your rate. If your car is considered more likely to be stolen, you might pay more. Likewise, if you have an antique or vintage car that could be costly to repair, you could see higher rates.
Current insurance status – The length of your insurance history plays a role in your rates. If you’ve been continuously insured for years, you’ll likely pay less than someone with a gap in insurance coverage.
Some of these factors affect just about every Louisiana resident. In fact, Louisiana drivers pay more than the national average for car insurance! Why?
13% of Louisiana drivers are uninsured
40% carry only minimum coverage
What does that mean? Insurers know that the Louisiana residents they do cover may get in a costly car accident with an uninsured driver who won’t be able to help cover the cost of repairs or injuries—at least not without a push in the form of legal action.
How Coverages Affect Rate
In addition to the factors listed above, the coverage you select will greatly impact your insurance rates.
Louisiana state minimum car insurance requirements are:
$15,000 in bodily injury liability per person – To cover the other driver’s and passengers’ injuries in the event you’re at fault in an accident.
$30,000 in bodily injury liability per accident – To cover multiple injured people in an accident.
$25,000 in property damage liability per accident – To coverage damage if you hit someone else’s vehicle or their other property (i.e. home or mailbox).
If you’re only taking out the bare minimum, you could save significantly.
However, you may also be left unprotected if you have an accident with an uninsured motorist (and, as discussed above, there are many). In addition, the minimum only covers damage to someone else’s vehicle and person. To protect your own car and health, you need collision coverage and comprehensive coverage.
To find the best policy for you, start by comparing rates for minimum coverage. Then, try out selecting the limits you want with the best 3-4 quotes to see how they compare.
Finding Cheap Auto Insurance
There are plenty of Assuming you’ve got a spotless driving history, you may be able to find an affordable policy with the following insurers:
Louisiana Farm Bureau – Sometimes, going with a local insurer helps you find the best rate. The Louisiana Farm Bureau offers car insurance protects, along with other kinds of insurance policies. If you bundle your auto insurance with your home insurance, renter’s insurance, or life insurance, you may see an additional overall savings. This insurance can also stay affordable after a car accident or an at-fault crash.
USAA – USAA insurance is only available to USAA members. If you’re a veteran or currently serving in the military, you may be able to join USAA to take advantage of their affordable auto insurance rates. The company also offers home and renter’s insurance policies, so you may be able to bundle and save.
Geico – Geico is one of the most popular cheap insurers nationwide—after all, you’ve probably heard the slogan that “15 minutes could save you 15% or more on car insurance.” Because they sell insurance online (rather than through local offices), they’re able to pass the savings on to you wherever you’re located.
Progressive – Similar to Geico in its business model, Progessive is another nationwide, low-cost insurance provider. This insurance can even be affordable for drivers with DUIs and other issues in their driving records.
Be sure to look at your individual rates so you can see the difference between Geico vs. Progessive vs. another insurer.
Other Insurers to Check Out
In some cases, a DUI, low credit score, or another issue with your risk profile may make your quotes more expensive. Get quotes from these other popular insurers to see if they can offer you a lower monthly premium:
Finding Discounts On Your Car Insurance
It’s possible to get discounts on your car insurance through the following programs:
Multi-car insurance – If you’re insuring multiple cars, you may pay a lower overall rate.
Bundles – You may pay a lower overall rate if you have multiple lines of insurance, i.e., auto insurance and homeowners’ insurance from the same company.
Veteran status – Inquire with your insurance company to see if you’re eligible for a special rate.
Good student discount – Families with teen drivers who maintain a B+ average may receive a slight discount.
Good driving discount – Some insurers may ask you to drive with a telemetric device for a short period of time. If the results show low mileage or safe driving, you could see a discount.
Maintaining Good Driving History
If your car insurance is still higher than you’d like it to be, try not to lose any sleep. If you need a little extra help to avoid accidents, you could even take a defensive driving course. Some insurers may give you a discount after recent attendance.
Finding the Cheapest Car Insurance in Louisiana with Online Auto Insurance
Geico vs Progressive? USAA vs State Farm? Louisiana Farm Bureau vs Allstate? No matter which company you’re considering, the key to finding the cheapest car insurance in Louisiana is shopping around for the policy that best suits your particular needs.
To find your perfect match:
Use Online Auto Insurance to get dozens of rates from individual insurers.
Input your specific information to see which insurers provide the best rates for you.
See how changing your insurance coverage limits affects your overall rates.
Get Louisiana car insurance quotes to compare and contrast.
When you’re satisfied with your coverage and your rate, purchase your new car insurance policy. Go ahead and print out your ID cards to keep right next to your Louisiana car registration in case an accident does happen.
Then, remember to keep an eye on your insurance rates at the end of your policy term. While sticking with one insurer often has its advantages, their competitors may offer you a better insurance rate to get your business the next time around!
The Balance. Car Insurance Rates by Age. https://www.thebalance.com/car-insurance-rates-by-age-4427974
WalletHub. 2020’s Best Car Insurance in Louisiana. https://wallethub.com/cheap-car-insurance/louisiana