Louisiana has more than 3.4 million licensed drivers. Shreveport, Louisiana is the third-largest city in Louisiana. According to Bankrate’s 2021 study on annual premiums, drivers in Shreveport spend an average $841 annually for minimum coverage and $2436 annually for complete coverage.
Bankrate compared several carriers and found that Shreveport drivers could get low rates. There are also many carriers with strong customer service ratings and great financial strength.
Shreveport’s best car insurance companies
Bankrate’s 2021 automobile insurance study found that several national carriers offer many benefits to customers in Louisiana. These include financial strength and customizable policies. These great benefits are not only available to customers, but Geico, USAA State Farm, Progressive and Progressive also offer very competitive and affordable car insurance rates in Shreveport.
Geico is the most affordable option available to drivers in Shreveport. It also has the lowest premiums of all the carriers. Geico’s lower premiums and higher ranking with J.D. are two reasons why it is so popular. The overall customer satisfaction speaks volumes. There are many discounts available, including those for military, club affiliation, students, and multi-policy.
USAA offers the lowest premium rates among all the Shreveport carriers. USAA provides auto insurance policies that are both basic and customized for those who meet the criteria of military veterans, service members, or their immediate families. There are also many discounts.
State Farm is the biggest provider auto insurance in the nation. It offers a wide variety of policies and discounts to Shreveport drivers. State Farm is the largest but scores below the industry average with an 835 point score with J.D. The lowest of all the carriers. Its financial strength rating of with AM Best, and competitive premiums might make it an attractive choice.
Progressive is another leading provider insurance in the U.S.A and offers the lowest rates in Shreveport. Progressive is not as big as State Farm but it does have a higher score with J.D. Progressive received an 848 point score out of 1000 for customer satisfaction. Progressive offers many discounts, including the Progressive Snapchat which monitors your safe driving habits via telematics. You may also be eligible for higher savings.
Shreveport has the lowest car insurance
According to the Insurance Information Institute, Louisiana has one of the highestautoinsurance rates in the nation. When rates were compared across states, Bankrate found that Louisiana drivers paid an average of $2724 per year for full coverage. Shreveport rates are similar, with full coverage costing drivers an average $2,436.
There are many national carriers that offer competitive rates to drivers in Shreveport. Geico, AAA, State Farm and Progressive offer lower premiums. Additionally, all of these carriers have at least an A rating by AM Best for financial strength. You can also get discounts from each of these carriers to further lower the cost.
Insurance requirements for Shreveport
Louisian requires that drivers carry a minimum level of liability insurance. This must include 15/30/25 liability limits.
- $15,000 bodily injury liability per individual
- $30,000 bodily injury liability per incident
- $25,000 per accident property damage liability
Insurance experts do not recommend purchasing the minimum coverage for Louisiana. This is because you will pay more out-of-pocket costs if you only have limited coverage. Keep in mind that if you lease or finance your vehicle, lenders will likely require you add collision and comprehensive coverage to your policy. Lenders may also require gap insurance. This covers the difference between the vehicle’s depreciated value and the loan amount, in the event that your car is totaled due to an at-fault collision.
Shreveport car insurance discounts
Louisiana residents have some of highest car insurance rates in America, so it is crucial to find discounts to offset some of the costs of driving legally. There are many discounts that you can avail, such as:
- Multi-policy: You may be eligible for a discount if you buy auto insurance from the same company as your homeowners and renters insurance carriers.
- Defensive driver: By agreeing to take a Defensive Driving Course, which is approved by the carrier and completing it, you could get a discount on your premiums. You will also learn valuable road safety tips.
- You may be eligible for a discount if you pay in full and agree to pay all premiums upfront, rather than breaking them up into quarterly or monthly installments.
- You can get discounts on premiums if you are a good student.
These are just a few of the discounts that are available. Additional discounts may be available for veterans and military personnel. While it is the best way to pay the lowest amount, it can be very beneficial to avoid getting in an accident or ticket.
Questions frequently asked
Which is the best auto insurance company?
The best car insurance company will meet your needs and still keep within your budget. When deciding which company is best for you, it is important to take into account many factors such as customer service ratings and financial strength. Based on the same information, Bankrate reviewed many and concluded that USAA and Amica are top contenders.
What is the cost of car insurance in Shreveport?
Shreveport’s average car insurance rate is $841 annually for minimum coverage and $2,436 per year for full coverage. Your exact car insurance rate will depend on your driving record, credit score, age and vehicle. These factors can affect the rate of your car insurance.