You have seen the captivating ads from companies like State Farm and Allstate that make promises of enormous savings. So you should just pick the company with the cutest commercial, right?
Unfortunately, it’s not that simple as there are many unknown factors such as what deductibles you want to use, the amount of liability insurance you need, whether you are married or single, and the vehicle you are insuring, that all factor into the price you pay. This article should teach you a little about the best ways to pay less and will hopefully give the reader a good beginning to your quest for cheaper car insurance.
Deciphering which companies offer the cheapest auto insurance rates for drivers with accidents will require a bit more work than just quoting one company’s rates. Each company has their own guidelines to establish rates, so we will examine the most budget-friendly auto insurance companies in New Orleans.
We do need to point out that New Orleans, LA auto insurance rates are impacted by many factors that can increase the cost of coverage. Simply getting older, having a teen driver, or having a fender bender can trigger price changes resulting in some rates now being much cheaper than others.
Find Cheaper Car Insurance for Accident Prone Drivers
USAA normally has some of the best car insurance rates in New Orleans at around $1,594 annually. This is $820 less than the average premium paid by Louisiana drivers of $2,414. MetLife, GEICO, Progressive, and Safeway would also make the list of some of the cheaper New Orleans, LA auto insurance companies.
As the example above demonstrates, if you are a customer of Progressive and switched to USAA, you might realize savings of upwards of $411. Drivers with Safeway might save as much as $538 a year, and Southern Farm Bureau insureds might see rate reductions of $654 a year.
To get a quick, customized rate comparison, click here to begin a quote or click through to the companies below.
It’s important to note that these estimates are averaged for all drivers and vehicles and and are not calculated with an exact location for drivers with accidents. So the insurer that fits your needs best may not even be in the list above. That illustrates why you need to compare as many prices as possible using your own specific driver information and vehicle.
The make and model of vehicle requiring insurance is probably the biggest factor that determines if you can find low-priced coverage for drivers with accidents. Vehicles with more horsepower, poor safety features, or a track record of large liability claims will cost significantly more to insure than more modest models. The information below estimates coverage premiums for some of the most economical vehicles to insure in Louisiana.
| Vehicle Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Honda Accord EX 4-Dr Sedan | $5,390 |
| Ford Escape XLS 2WD | $5,630 |
| Honda CR-V LX 4WD | $5,722 |
| Toyota Prius | $5,857 |
| Ford F-150 XLT Regular Cab 4WD | $6,050 |
| Dodge Grand Caravan CV | $6,057 |
| Ford Explorer XLT 4WD | $6,321 |
| Jeep Grand Cherokee Laredo 4WD | $6,386 |
| Toyota RAV4 Limited 4WD | $6,395 |
| Chevrolet Equinox LS 2WD | $6,386 |
| Volkswagen Jetta S 4-Dr Sedan | $6,391 |
| Toyota Tacoma Double Cab 4WD | $6,386 |
| Chevrolet Silverado LS Regular Cab 2WD | $6,504 |
| Ford Edge SEL AWD | $6,603 |
| Chevrolet Impala LT | $6,677 |
| Find Cheaper Rates Go | |
Prices above based on single male driver age 30, no speeding tickets, two at-fault accidents, $1,000 deductibles, and Louisiana minimum liability limits. Discounts applied include homeowner, multi-policy, and multi-vehicle. Price estimates do not factor in your specific New Orleans, LA location which can modify premium rates greatly.
Based upon these rates, we can presume that makes and models like the Honda Accord, Ford Escape, Honda CR-V, and Toyota Prius should be the most affordable vehicles to insure for drivers with at-fault accidents. Car insurance rates will be higher anyway just due to the fact that there is more exposure for drivers with accidents, but in general those particular models will most likely have the lowest insurance prices available.
For drivers with at-fault accidents, one of the largest criteria that help determine the price you pay for insurance is where your car is garaged. Areas with more people or more claims are more likely to pay higher prices, whereas areas with less congestion have the luxury of lower rates.
The following table sorts the highest-priced places in Louisiana for drivers with accidents to purchase a policy in. New Orleans shows up at #1 with an annual cost of $2,914 for coverage, which is about $243 monthly.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | New Orleans | $2,914 |
| 2 | Harvey | $2,513 |
| 3 | Marrero | $2,469 |
| 4 | Terrytown | $2,455 |
| 5 | Metairie | $2,232 |
| 6 | Prairieville | $2,169 |
| 7 | Kenner | $2,159 |
| 8 | Central | $2,157 |
| 9 | Baton Rouge | $2,143 |
| 10 | Shenandoah | $2,139 |
| 11 | Alexandria | $2,117 |
| 12 | Hammond | $2,044 |
| 13 | Laplace | $1,991 |
| 14 | Slidell | $1,957 |
| 15 | Lafayette | $1,936 |
| 16 | Monroe | $1,931 |
| 17 | New Iberia | $1,928 |
| 18 | Sulphur | $1,916 |
| 19 | Lake Charles | $1,915 |
| 20 | Bayou Cane | $1,836 |
| 21 | Shreveport | $1,820 |
| 22 | Houma | $1,810 |
| 23 | Bossier City | $1,780 |
| 24 | Natchitoches | $1,763 |
| 25 | Ruston | $1,703 |
| Find Cheaper Insurance Go | ||
Rates are comparative as specific location information can modify coverage rates substantially.
Illustration showing the impact of accidents and violations
A great way to score the cheapest auto insurance prices in Louisiana for drivers with at-fault accidents is to be a cautious driver and not get tickets or have accidents. The information below demonstrates how speeding tickets and at-fault fender-benders can raise insurance prices for different age groups. The premiums are based on a married male driver, comprehensive and collision coverage, $500 deductibles, and no other discounts are factored in.
In the prior example, the average cost of an auto insurance policy per year with no accidents and a clean driving record is $2,475. Add in one speeding ticket and the average cost hikes up to $2,850, an increase of $375 each year. Now get two accidents along with the one speeding ticket and the 12-month cost of auto insurance for drivers with accidents increases to an average of $6,227. That’s an increase of $3,752, or $313 per month, just for a couple of infractions!
Get discount New Orleans insurance rates
Car insurance companies that provide coverage for drivers with accidents may also provide premium discounts that could reduce prices by 35% or more if you can meet the requirements. A list of companies and a partial list of their discounts can be found below.
- State Farm offers discounts for multiple autos, passive restraint, good student, defensive driving training, anti-theft, and multiple policy.
- GEICO discounts include driver training, membership and employees, federal employee, multi-policy, five-year accident-free, defensive driver, and air bags.
- SAFECO policyholders can earn discounts including anti-theft, teen safe driver, teen safety rewards, bundle discounts, and multi-car.
- Farmers Insurance has savings for early shopping, electronic funds transfer, business and professional, multi-car, mature driver, pay in full, and good student.
- AAA includes discounts for anti-theft, education and occupation, good driver, AAA membership discount, and multi-car.
- USAA may offer discounts for loyalty savings, annual mileage, safe driver, family discount, new vehicle, and driver training.
The information below illustrates the difference between insurance rates with and without some available policy discounts. The information is based on a male driver, two accidents and no citations, Louisiana state minimum liability limits, comprehensive and collision coverage, and $100 deductibles.
The first bar for each age group shows the average rate with no discounts. The lower bar shows the rates with continuous coverage, anti-theft, paperless filing, passive restraint, paid-in-full, and multiple policy discounts applied. When taking advantage of discounts, theamount saved on auto insurance for drivers with accidents is 28% or $1,342.
Cost of full coverage in New Orleans
Paying a lower price for auto insurance is important to the majority of people, and a good way to find cheaper insurance for drivers with accidents is to buy only liability coverage. The chart below shows the comparison of insurance prices with full coverage and liability only. The costs are based on no driving violations, no at-fault accidents, $250 deductibles, drivers are not married, and no other discounts are factored in.
As an average for all age groups, comprehensive and collision coverage on your policy costs an extra $3,308 per year more than just buying liability insurance. Lot’s of drivers question if you should buy full coverage at all. There isn’t a written rule of when to eliminate full coverage, but there is a general guideline. If the yearly cost of full coverage is more than 10% of the vehicle’s replacement cost less your deductible, then it’s probably a good time to buy liability coverage only.
For example, let’s pretend your vehicle’s replacement value is $8,500 and you have $1,000 deductibles. If your vehicle is damaged in an accident, the most your company will settle for is $7,500 after paying your policy deductible. If you are paying in excess of $750 annually for comprehensive and collision coverage, then it might be time to consider dropping full coverage.
There are some conditions where removing full coverage is not recommended. If you still have a lienholder on your title, you have to carry full coverage as part of the loan conditions. Also, if you cannot afford to purchase a different vehicle if your current one is damaged, you should keep full coverage in place.