On average, Louisiana drivers pay more for auto insurance than drivers from any other state in the United States. According to Bankrate’s 2021 study of annual quoted premiums, the average cost for full coverage car insurance is $2,724 annually in Louisiana.
The stress caused by auto insurance accidents in Louisiana could explain the high premium. In 2019, more than 740,000 injuries were caused by motor vehicle accidents in Louisiana, which resulted in $8.8 billion in damage. The best Louisiana car insurance can protect you from the financial consequences of an accident.
Louisiana’s best car insurance companies
Louisiana drivers need to consider more than price when looking for car insurance. The largest Louisiana car insurance companies were ranked by market share by Bankrate’s editorial team. First, we analyzed the average premiums from Quadrant Information Services. Then, we thoroughly reviewed each company’s policies, discounts, and third-party rankings.
Each company was assigned a Bankrate score. The Scores are a measure of how well each company ranks in each category on a scale from 0.0 to 5. The Score is a measure of how highly a company ranks in each category.
These companies could be a good place to start if you’re looking for the best Louisiana auto insurance.
USAA
USAA is a good choice for Louisiana drivers who are looking for excellent customer service. Although the company scored the highest in claims satisfaction, it does not have the official ranking because it only sells coverage to eligible military personnel and their families. You are eligible for USAA and have the lowest Louisiana full coverage rates.
Geico
Geico may be an option if you have a tight budget for car insurance but are not eligible for USAA. Geico’s low average premium could be due to its generous discounts that include savings for military personnel, federal employees, and safe drivers. Geico was also ranked highest in the 2021 J.D. The service category was also included in the Power U.S. Insurance Digital Experience Study. Geico’s highly-rated platforms are a good choice if you want to manage your insurance via a mobile app, website or mobile app.
State Farm
State Farm’s premium average is more expensive than Louisiana’s, but it may appeal to you if the company has a good reputation. State Farm holds almost 30% market share and is Louisiana’s largest personal auto insurer. There are many ways you can save on your State Farm Louisiana premium, including bundling your policies or enrolling in either the Drive Safe & Save or Steer Clear programs (depending on age), owning a vehicle with certain safety features, or being accident-free.
Progressive
The average premium for Progressive is higher than Louisiana’s. However, this could be due to the many optional coverages the company offers. Your policy can be tailored to meet your specific needs by including ridesharing coverage, loan/lease gaps coverage, custom parts, and equipment coverage. You may also have the option to add a deductible savings account. You might also be able lower your premium by purchasing a policy online and getting a quote.
Allstate
Although Allstate’s premium is the most expensive on our list of options, it is important to remember that cost is only one factor when looking for car insurance. Allstate offers a variety of optional coverages that can be customized to your policy. These include sound system coverage or ridesharing coverage. There are also discounts available, such as savings on new cars, smart students, and safety devices. Signing up for automatic payments or paying in full could save you money.
Louisiana average cost for car insurance
According to Bankrate, Louisiana is one of the most expensive states. Louisiana drivers pay an average of $2,724 annually for full-coverage. This is more than $1,000 less than the national average, $1,674.
Louisiana’s high insurance costs could be due to the economic stress that auto accidents have placed on Louisiana’s economy. The high cost of insurance in Louisiana could also be due to the high cost of parts and labor, healthcare costs for injuries and the possibility of being involved in an accident.
Louisiana’s minimum insurance requirements
Louisiana requires that all drivers have minimum coverage and limits for their car insurance. Louisiana’s minimum insurance requirements are property damage and bodily injury liability. Louisiana’s minimum liability insurance includes:
- $15,000 per person for bodily injury
- $30,000 per accident for bodily injury
- $25,000 for property damage to others
Experts in insurance recommend that you purchase more coverage than the minimum required by law to protect your finances. The minimum liability coverage covers only the injuries and property of others. It does not protect you from your injuries or damages to your car. You are responsible for any excess costs incurred by you if you cause an accident that results in more damage than your insurance covers.
full coverage is required if you require coverage for vehicle damage. This adds comprehensive and collision. Your lender may require that you carry full coverage if you have a vehicle loan or lease.
How to find the best Louisiana car insurance
Your personal needs, wants and circumstances will determine the best Louisiana car insurance. You may be able to find the best Louisiana auto insurance by:
- Assess your needs individually: Every situation is different. Are you responsible for a teenage driver? Are you a convicted of DUI or a ticket? Are you on a tight budget? Knowing your rating factors can help you choose the right company for you. You might be able to get lower premiums from companies that offer car coverage discounts.
- Pay attention to state factors. In addition to Louisiana’s minimum car coverage limits, there are other factors that can affect the limits and coverages you may want. To better protect your finances in the event of a collision with another motorist, it might be a good idea to have higher liability coverage if you live near pedestrians, cyclists, or other motorists.
When you’re choosing coverages, it may be helpful to speak with an insurance agent licensed in Louisiana. An insurance agent in Louisiana may be familiar with your needs and can help you select the right protections.
Louisiana offers car insurance discounts
Louisiana car insurance is costly, but there are many ways to save. The following are some of the best deals on Louisiana car insurance:
- You may qualify for reduced car insurance if you are an active military member based in Louisiana.
- Multi-policy discount: Many insurance companies offer a discount on bundle policies. The discount is typically for bundling your car insurance with your condo, home, or renters insurance. However, some companies may offer a discount for purchasing other types of insurance such as life or pet insurance.
- Safe driver: You might be eligible for a discount if you don’t have any convictions or tickets in the past few years.
- Telematics discounts: There are many companies that offer telematics programs. These programs track your driving habits via a plug-in device, or mobile app. Based on your data, you may be eligible for a customized discount.
Each company has its own set of discounts. While you can review discounts online, it is not always the best way of finding savings opportunities.
Questions frequently asked
What are the requirements to obtain car insurance in Louisiana
You will need to know the name, birth date, and driver’s license numbers for each driver in your household as well as anyone who drives your cars regularly in Louisiana in order to get car insurance. The vehicle identification number (VIN), of every vehicle you wish to insure, is also required. It is helpful to know what coverages you are looking for when getting quotes. However, an agent can help you select the right protections.
Do I require more coverage than the minimum?
Louisiana’s minimum coverage is what is legally required for driving. You can choose to buy only minimum coverage if you own your vehicle. You will need full coverage if your car is financed. Insurance professionals recommend you buy higher liability limits, regardless of vehicle ownership. Higher liability coverage provides greater financial protection and better financial security.
Is liability insurance available for my vehicle?
Louisiana’s minimum liability insurance does not cover damages to vehicles if you are involved in an accident. You cannot purchase collision and comprehensive coverages if your liability limits are higher.
What happens to my car if it is damaged by flooding?
Louisiana is prone to flooding and hurricanes. Your car won’t be covered against flooding if you purchase only liability coverage. To protect your car from weather-related events, you will need comprehensive car insurance.
What happens if my car is not insured in Louisiana?
Louisiana law requires that you have at least the minimum level of insurance coverage if you own a vehicle. Without proof of insurance, you will not be allowed to register your car. Driving without insurance could result in severe penalties, including fines and suspension of your license. You will be responsible for any damages incurred if you cause an accident that is not covered by insurance. This can cause financial stress and you may be sued if you cannot pay. Although car insurance can be expensive in Louisiana, driving without insurance is much more costly.
