The words “low-priced” and “insurance” probably shouldn’t be used in the same sentence, specifically when you are trying to find the lowest insurance prices for young drivers. Because it’s so expensive, let’s familiarize you with some of the things that have an effect on insurance premiums, and find out if you can take a little off the next policy you buy.
Trying to buy reasonably-priced car insurance is not easy, and finding out which company has the best auto insurance rates for young drivers takes a bit more work. Every insurance company uses a little different formula to determine rates, so we need to take a look at the most competitive auto insurance companies in New Orleans.
It’s important that readers know that New Orleans, LA auto insurance rates are impacted by many things which can significantly increase or decrease the cost of coverage. This price variability is why it is so important to take the time to shop around when trying to get the cheapest auto insurance quotes for young drivers. Insurance prices can be determined by many risk factors and can decrease or increase without notice, so the most economical option when you last compared rates may now be one of the more expensive options.
Find the Cheapest Car Insurance for Teens
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $1,578 |
| 2 | MetLife | $1,836 |
| 3 | GEICO | $1,945 |
| 4 | Progressive | $2,005 |
| 5 | Safeway | $2,220 |
| 6 | California Casualty | $2,246 |
| 7 | Southern Farm Bureau | $2,271 |
| 8 | State Farm | $2,359 |
| 9 | Safe Auto | $2,575 |
| 10 | Allstate | $2,975 |
| 11 | Encompass | $3,266 |
| 12 | Liberty Mutual | $3,608 |
| Find Your Rate Go | ||
USAA quotes some of the lowest car insurance rates in New Orleans at around $1,578 each year. This is $836 less than the average premium paid by Louisiana drivers of $2,414. MetLife, GEICO, Progressive, and Safeway are also some of the most economical New Orleans, LA car insurance companies.
As the rates illustrate above, if you have coverage with Progressive and switched to MetLife, you could realize a yearly savings of around $169. Drivers with Safeway might save as much as $384 a year, and California Casualty policyholders might reduce rates by $410 a year.
It’s important to note that these premium estimates are averaged for all drivers and vehicles in Louisiana and and are not figured with an exact zip code location for young drivers. So the company that can offer you the best rate may not even be in the top 12 companies in the list above. That point stresses why you need to get car insurance quotes using your own individual information.
The vehicle needing coverage is probably the most important factor when shopping for the most affordable car insurance for young drivers. Vehicles with economical engines, advanced safety features, or a low likelihood of having liability claims will cost quite a bit less to insure than higher performance models. The next list showcases coverage prices for some of the cheapest automobiles to insure in Louisiana.
| Vehicle Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLT 4WD | $2,277 |
| Ford F-150 STX Super Cab 2WD | $2,450 |
| Dodge Grand Caravan CV | $2,501 |
| Jeep Wrangler Sahara 4WD 2-Dr | $2,507 |
| Chevrolet Equinox LS AWD | $2,636 |
| Honda CR-V LX 2WD | $2,731 |
| Honda Accord LX 4-Dr Sedan | $2,737 |
| Hyundai Elantra SE 4-Dr Sedan | $2,775 |
| Toyota Corolla LE | $2,783 |
| Ford Fusion SE 4-Dr Sedan | $2,826 |
| Toyota Prius | $2,833 |
| Toyota Tacoma 4WD | $2,863 |
| Hyundai Sonata SE 4-Dr Sedan | $2,965 |
| Chevrolet Impala LS | $2,974 |
| Ford Focus SE 2-Dr Coupe | $2,965 |
| Toyota Camry Hybrid | $3,016 |
| Toyota RAV4 2WD | $3,022 |
| GMC Sierra SL Extended Cab 2WD | $3,030 |
| GMC Sierra 3500HD SLT Crew Cab 2WD | $3,063 |
| Honda Odyssey EX W/Rear Entertainment | $3,168 |
| Ford Edge SE AWD | $3,177 |
| Toyota Camry XLE | $3,182 |
| Volkswagen Jetta LE 4-Dr Sedan | $3,233 |
| Compare Cheap Rates Go | |
Table data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Louisiana minimum liability limits. Discounts applied include multi-policy, multi-vehicle, safe-driver, homeowner, and claim-free. Price estimates do not factor in New Orleans, LA location which can increase or decrease premiums greatly.
Based upon the rates shown, you can conclude that models like the Ford Escape, Ford F-150, Dodge Grand Caravan, Jeep Wrangler, and Chevrolet Equinox will be the most affordable vehicles to insure for youthful drivers.
Ending up with the right car insurance provider can be difficult considering how many choices you have in Louisiana. The company information in the lists below may help you choose which auto insurance companies to look at shopping your coverage with.
These ratings are only made up of large nationwide companies, so companies with more of a regional focus are not included in these rankings. To view rates and find the cheapest rates for young drivers, just click here.
Top 10 Major Car Insurance Companies in New Orleans Ranked by Customer Service
- USAA
- Safeco Insurance
- AAA Insurance
- State Farm
- Progressive
- The Hartford
- The General
- Esurance
- GEICO
- Liberty Mutual
Types of discounts on New Orleans insurance
Car insurance companies that offer coverage for young drivers may have policy discounts that could potentially reduce rates by as much as 40% or more if you can meet the requirements. A list of companies and a selection of discounts include:
- AAA offers discounts for good student, education and occupation, AAA membership discount, good driver, multi-policy, and pay-in-full.
- Progressive has discounts for good student, online signing, online quote discount, continuous coverage, and multi-policy.
- State Farm offers discounts including multiple policy, anti-theft, accident-free, driver’s education, and Drive Safe & Save.
- Esurance discounts include online quote, multi-policy, anti-lock brakes, Switch & Save, online shopper, and renters.
- Nationwide may offer discounts for easy pay, defensive driving, anti-theft, good student, business or organization, Farm Bureau membership, and multi-policy.
The example below visualizes the comparison of insurance costs with and without discounts applied to the premium. The rate quotes are based on a female driver, no tickets, no at-fault accidents, Louisiana state minimum liability limits, full physical damage coverage, and $500 deductibles. The first bar for each age group shows insurance cost with no discounts. The second shows the rates with marriage, homeowner, defensive driving course, passive restraint, claim-free, and accident-free discounts applied. When discounts are factored in, the average savings per year on auto insurance for young drivers is 28% or $776.
Reckless driving habits raise auto insurance rates
In a perfect world, the ideal way to score cheap auto insurance rates in Louisiana for youthful drivers is to be a careful driver and avoid accidents and traffic citations. The illustration below shows how violations and at-fault fender-benders can influence insurance prices for different age groups of insureds. The rate quotes are based on a single male driver, comprehensive and collision coverage, $250 deductibles, and no discounts are applied.
In the previous chart, the average cost of an auto insurance policy in New Orleans per year with no violations or accidents is $3,251. Add in one speeding ticket and the average cost increases to $3,666, an increase of $415 each year. Then add two accidents along with the one speeding ticket and the annual cost of auto insurance for young drivers goes up to an average of $7,268. That’s an increase of $4,017, or $335 per month, just for not driving carefully!
How to find the cheapest insurance for young drivers
Lowering your rates is not difficult, and here are some of the recommended money-saving solutions that can help drivers locate more affordable auto insurance.
- Save money by insuring older vehicles for liability only
- Vehicles with good safety ratings have lower liability rates
- Accidents can significantly increase rates
- Higher credit ratings may save you money
- Save money by observing traffic laws and speed limits
- Increase the comprehensive and collision deductibles on your policy
- Compare rates often to find the best deal
That last tip is remarkably important, as was discussed in the article above. Coverage prices in New Orleans can change considerably in a year, so don’t be tentative to switch companies if you find a better deal.
Many drivers have brand loyalty and that’s fine, but it’s not recommended if that inflexibility results in costing you hundreds of dollars year after year. If you have a few minutes, now is a great time to compare prices and find cheaper car insurance for young drivers.