This would be a real easy article to write if we could just give you the name of the single best car insurance company that has the cheapest rates in Louisiana. It’s not that easy, however, as there are a whole bunch of unknown factors like where you live, what liability limits you need, the number of miles you drive each year, and your credit history. This article delves into some of these factors and will hopefully give you a good beginning to your quest for cheaper car insurance.
The vehicle you are buying coverage for is probably the biggest factor when shopping for low-priced auto insurance for uninsured drivers. Vehicles with limited speed and performance, good crash test ratings, or a positive history of liability claims will cost much less to insure than higher performance models.
The list below outlines auto insurance prices for a number of the most budget-friendly vehicles to buy insurance for.
| Vehicle Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V EX-L 4WD | $2,192 |
| Hyundai Elantra SE Touring Station Wagon | $2,325 |
| Ford Explorer XLT 4WD | $2,404 |
| Chevrolet Malibu LS | $2,537 |
| Jeep Wrangler Unlimited Sport 2WD 4-Dr | $2,570 |
| Dodge Grand Caravan Crew | $2,587 |
| Ford Escape XLS 4WD | $2,624 |
| Toyota Camry XLE | $2,667 |
| Ford Edge SE 2WD | $2,697 |
| Nissan Altima Hybrid 4-Dr Sedan | $2,717 |
| Honda Civic Hybrid 4-Dr Sedan | $2,725 |
| Chevrolet Silverado 2500HD LT Crew Cab 4WD | $2,717 |
| Ford F-350 Super Cab Lariat 2WD | $2,813 |
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Data assumes single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Louisiana minimum liability limits. Discounts applied include claim-free, multi-vehicle, safe-driver, multi-policy, and homeowner. Rates do not factor in vehicle garaging location which can impact price quotes significantly.
By looking at the data, we can presume that cars like the Honda CR-V, Hyundai Elantra, Ford Explorer, Chevrolet Malibu, and Jeep Wrangler are most likely to be some of the most affordable vehicles to insure for drivers with no prior coverage.
For drivers with no prior coverage, one of the largest things that are used to help calculate auto insurance rates is where your residence is. Regions with larger populations or more claims tend to have higher auto insurance costs, whereas areas that tend to be more rural get the luxury of paying less.
The information below ranks the highest-priced areas in Louisiana for uninsured drivers to purchase auto insurance in. New Orleans shows up at #1 with an annual cost of $2,827 for the average policyholder, which is about $236 each month.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | New Orleans | $2,827 |
| 2 | Harvey | $2,589 |
| 3 | Terrytown | $2,530 |
| 4 | Marrero | $2,494 |
| 5 | Metairie | $2,254 |
| 6 | Kenner | $2,247 |
| 7 | Shenandoah | $2,183 |
| 8 | Prairieville | $2,169 |
| 9 | Baton Rouge | $2,143 |
| 10 | Central | $2,135 |
| 11 | Hammond | $2,065 |
| 12 | Alexandria | $2,034 |
| 13 | Laplace | $1,991 |
| 14 | Slidell | $1,977 |
| 15 | Sulphur | $1,974 |
| 16 | Lake Charles | $1,934 |
| 17 | Lafayette | $1,917 |
| 18 | Monroe | $1,911 |
| 19 | New Iberia | $1,909 |
| 20 | Shreveport | $1,876 |
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Prices are estimated as the vehicle garaging location can alter rates noticeably.
Finding dependable, cheap car insurance is not most people’s favorite thing to do, and determining which company offers the lowest-priced auto insurance rates for uninsured drivers will involve even more work.
Every car insurance company has a unique formula to set policy rates, so let’s begin by taking a look at the auto insurance companies that tend to be cheaper in New Orleans, LA. It’s important to know that Louisiana auto insurance rates are based on many factors which can substantially change the cost of a policy. This is why New Orleans drivers need to shop around to find affordable insurance rates for uninsured drivers. Auto insurance prices can be altered by many things and can change without notice, so the cheapest rate the last time you compared rates may now cost much more than other companies.
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| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $1,594 |
| 2 | MetLife | $1,854 |
| 3 | Progressive | $1,946 |
| 4 | GEICO | $1,965 |
| 5 | Southern Farm Bureau | $2,181 |
| 6 | Safeway | $2,198 |
| 7 | California Casualty | $2,338 |
| 8 | State Farm | $2,383 |
| 9 | Safe Auto | $2,575 |
| 10 | Allstate | $2,945 |
| 11 | Encompass | $3,138 |
| 12 | Liberty Mutual | $3,608 |
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USAA may offer some of the best car insurance rates in New Orleans at around $1,594 per year. MetLife, Progressive, GEICO, and Southern Farm Bureau would also be considered some of the lowest-priced New Orleans, LA car insurance companies.
As the rates illustrate above, if you are a customer of MetLife and switched to USAA, you could see a yearly savings of in the neighborhood of $260. Policyholders with Progressive could save as much as $352 a year, and GEICO customers might realize rate reductions of up to $371 a year.
To see how much you can save, click here to start a quote or visit several of the following companies.
These premiums are averages for all insureds and vehicles and do not factor in an exact location for uninsured drivers. So the company that fits your needs best may not even be in the list above. That underscores the importance of why you need to quote rates from many companies using your own personalized driver profile and vehicle information.
Picking a high-quality auto insurance provider is hard considering how many different companies insure vehicles in Louisiana. The information displayed below could help you pick which car insurance companies you want to consider when buying insurance for uninsured drivers. These ratings are only comprised of the companies with a significant amount of written premium nationwide, so companies that may only write in Louisiana are not included in the list.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| USAA | 83 | 99 | 100 | 91% | A++ | 94.1 |
| AAA Insurance | 91 | 95 | 92 | 90% | A | 93.3 |
| Allstate | 77 | 100 | 97 | 88% | A+ | 90.7 |
| State Farm | 80 | 94 | 96 | 88% | A++ | 90.6 |
| The Hartford | 88 | 93 | 91 | 87% | A+ | 90.4 |
| Safeco Insurance | 91 | 95 | 85 | 88% | A | 90.2 |
| Progressive | 88 | 94 | 83 | 88% | A+ | 90.1 |
| American Family | 91 | 86 | 95 | 83% | A | 89.7 |
| Esurance | 86 | 90 | 94 | 90% | A+ | 89.5 |
| The General | 86 | 93 | 89 | 84% | A- | 88.2 |
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Data Source: Insure.com Best Car Insurance Companies
Full coverage rates compared to liability-only
Saving money on auto insurance should be important to most drivers, and one good way to pay less for insurance for uninsured drivers is to buy liability only. The example below illustrates the comparison of yearly insurance costs with and without physical damage coverage. The premium estimates are based on no violations or claims, $500 deductibles, marital status is single, and no other discounts are factored in.
As an overall average, physical damage coverage on your policy costs $2,182 per year over and above liability only. That raises the question if paying for full coverage is a waste of money. There is no clear-cut rule to exclude full coverage on your policy, but there is a general convention. If the yearly cost of full coverage is more than about 10% of the settlement you would receive from your company, then it could be time to drop full coverage.
The diagram below highlights how deductible selection can raise or lower insurance costs when getting quotes for cheap insurance for uninsured drivers. The costs are based on a married male driver, full coverage, and no discounts are applied to the premium.
The data above shows that a 40-year-old driver could lower rates by $388 a year by switching from a $100 deductible up to a $500 deductible, or save $586 by using a $1,000 deductible. Young drivers, such as the 20-year-old chart data, could lower their rates as much as $1,294 or more by choosing larger deductibles on their policy. When insureds make the decision to increase the deductibles on their policy, it will be important to have enough in a savings account to enable you to pay the extra out-of-pocket expense associated with higher deductibles.
Here’s why you should shop around
New Orleans auto insurance rates are calculated based on many things that can increase the policy price. Simply having another birthday, buying a home, or getting a reckless driving citation may cause policy rate changes resulting in some rates now being cheaper than competitors.
In addition to those changes, auto insurance companies change their prices as often as every quarter in order to protect their financial rating. Unexpectedly high claims can cause rate increases, while lower claim levels can produce cheaper New Orleans car insurance rates.
For instance, the data below shows which company has the cheapest car insurance in New Orleans, LA for a 40-year-old male driver with no violations or accidents, and good credit. Based on his current risk profile, USAA may have the best car insurance rates in New Orleans at $2,727 annually. This is $313 more than the average policy premium paid by Louisiana drivers of $2,414. MetLife, GEICO, Progressive, and Safeway are the remainder of the top five cheapest New Orleans, LA auto insurance companies.
In the next rate comparison, we’ll give the driver from the first example a claim surcharge, less-than-perfect credit, and a traffic citation. Since each company uses a different method to determining premium rates, getting updated rate quotes may now show a different ranking of cheap New Orleans auto insurance companies as shown below.
Southern Farm Bureau now has the cheapest car insurance in New Orleans with State Farm, MetLife, GEICO, and Safe Auto also being competitive. This demonstrates why New Orleans drivers need to compare many different companies when trying to get affordable auto insurance quotes for uninsured drivers.
Car insurance prices are made up of many different factors and change frequently, so the cheapest option when you last compared rates may now cost much more than other companies.