Due to the high number of accidents-related lawsuits, Louisiana’s average car insurance rates are higher than anywhere else in the country. Louisiana’s average car insurance cost is $975 for basic coverage, and $2724 for full coverage. This breaks down to approximately $80 or $227 per monthly.
You can save money on Louisiana auto insurance rates. This could help you to keep your budget intact. Bankrate’s analysis of how Louisiana car insurance rates differ based on specific factors may shed some light on the things you should look out for when looking for vehicle coverage.
What is the cost of car insurance in Louisiana?
The average annual cost of U.S. car insurance is $565 per year for minimum coverage, and $1,674 per year for full coverage. Louisiana’s average car insurance rates are almost twice that. Despite the fact that these numbers seem disconcerting, they are still average. Louisiana auto insurance rates may change depending on your age, carrier, driving record, and level of coverage. Bankrate’s study showed that coverage with selected carriers is far less than the average.
Louisiana car insurance rates by company
According to our research, Geico and Southern Farm Bureau are some of the most affordable car insurance companies in Louisiana. Geico rates are $575 for minimum coverage, $2,211 for complete, and Southern Farm Bureau’s premiums are $607, and $1,871, for respectively. It is a good idea to request quotes from a few top insurers each year. To get lower rates, it may be worth switching car insurance companies .
Louisiana auto insurance rates by city
Based on the location of your city, rates in Louisiana may be higher or lower than the average. New Orleans is the most expensive state for vehicle insurance, with rates averaging 55 per cent higher than the state average. This is how the 20 largest cities in terms of population compare.
Louisiana car insurance rates based on age
Insurance companies consider younger drivers to be more at-risk because of their inexperience behind the wheel. Motor vehicle accidents are the leading cause death among teens. Young adults will pay more for a crash than an older driver of 30 or 40 years.
Louisiana auto insurance rates by driving record
Young drivers and teens pay more for car insurance, as they are less experienced and may cause more accidents. This can be costly for insurance companies. High-risk drivers are those who have been cited for speeding, driving while impaired or causing an accident. A single speeding ticket can increase your premiums by almost 20%, while a DUI could add up to 50%. These increases could cause financial problems, especially considering the high Louisiana auto insurance rates.
Louisiana: How to Save on Car Insurance
Discounts from your carrier are a great way to reduce high insurance premiums. These are some of the most common savings:
- Bundling: Combining car, home, or rental insurance can get you a substantial discount from many carriers. Sometimes as high as 25%
- Telematics: Your insurance company could track your driving electronically, which could help you save a lot on your car insurance. You only need an app to drive safely. If you have safe driving habits, your insurance company will reduce your premiums.
- Maintaining good grades is key: Students who are still in college or school could be eligible for a student discount.
Questions frequently asked
What is the cost of car insurance in Louisiana
Louisiana has the highest cost for car insurance, with an average of $975 for minimum coverage, and $2724 for full coverage. This makes Louisiana one of the most expensive states in the country.
How can I get car insurance at a lower price?
Start by looking at quotes from several car insurance companies to find the best rates. You can also take advantage of discounts such as good driver discounts, safety equipment and student discounts, which could help lower your premiums.
Which is the best car insurance policy in Louisiana?
Bankrate discovered that Geico provides some of the lowest minimum insurance coverage in Louisiana at $575 per annum. Southern Farm Bureau had the lowest rates for full-coverage car insurance at $1.871 per year. These rates are just averages. It is best to get quotes tailored to your specific circumstances and shop around.