Full Auto Insurance Coverage In Louisiana: How Much?

The cost of full-coverage auto insurance in Louisiana varies depending on the source and the factors considered. According to ValuePenguin, the average cost of full-coverage car insurance in Louisiana is $227 per month or $2,719 per year. US News, on the other hand, reports that Louisiana drivers pay an average of $4,357 per year or $363 per month for full-coverage car insurance. MoneyGeek estimates the average cost to be $1,493 annually or $124 monthly. CarInsurance.com's data analysis from 2023 shows that the average cost of full-coverage car insurance in Louisiana is $2,487 per year or $207 per month. Lastly, Liberty Mutual states that the average cost of car insurance in Louisiana was $3,265 in 2021, according to thezebra.com.

Average cost of full-coverage car insurance in Louisiana

The average cost of full-coverage car insurance in Louisiana varies depending on the source and the factors considered. According to ValuePenguin, the average cost is $2,719 per year or $227 per month. MarketWatch, on the other hand, estimates the average cost to be $4,357 per year or $363 per month. MoneyGeek's estimate is significantly lower at $1,493 annually or $124 monthly. CarInsurance.com's estimate is closer to ValuePenguin's at $2,487 per year or $207 per month. Lastly, according to Liberty Mutual, the average cost of car insurance in Louisiana was $3,265 in 2021, which is 14% higher than the national average.

It is worth noting that the cost of car insurance in Louisiana can vary depending on various factors such as age, driving record, credit score, vehicle type, and location. For example, younger and teen drivers typically pay higher rates than more experienced drivers. Additionally, drivers with a history of speeding tickets, accidents, or DUI convictions will generally pay more for their insurance. The cost of car insurance also varies by city, with New Orleans being the most expensive city in the state for car insurance.

When comparing car insurance rates in Louisiana, it is important to consider the coverage limits and the specific factors that affect the cost. It is recommended to shop around and compare quotes from multiple insurance companies to find the best rate and coverage that meets your needs.

Cheapest car insurance companies in Louisiana

Southern Farm Bureau

Southern Farm Bureau offers the lowest car insurance rates for most drivers in Louisiana. For full coverage, Southern Farm Bureau's rates average $145 per month, or $1,751 per year. For minimum liability coverage, the rate is $56 per month, or $674 per year.

Southern Farm Bureau also has the cheapest rates for several specific categories of drivers, including young drivers, drivers with a history of speeding tickets or accidents, and drivers with poor credit.

USAA

USAA offers the cheapest rates for military members, veterans, and their families. For full coverage, USAA's rates average $144 per month, or $1,565 per year. For minimum liability coverage, the rate is $54 per month.

Geico

Geico is one of the most well-known and popular insurance companies. In Louisiana, it offers the cheapest rates for drivers with minimum coverage, at $74 per month, or $889 per year.

Progressive

Progressive is a good choice for traditionally high-risk drivers, such as teens or those with a recent speeding ticket or accident. In Louisiana, it offers the cheapest rates for minimum coverage, at $82 per month, or $983 per year.

Allstate

Allstate has the cheapest rates in Louisiana for drivers with poor credit. A full-coverage policy from Allstate costs around $243 per month, or $2,916 per year.

Average cost of car insurance in Louisiana by age

The average cost of car insurance in Louisiana varies depending on age, gender, driving history, credit score, and location.

For a 16-year-old driver, the average cost of car insurance in Louisiana is $11,617 per year, while for a driver aged 50 to 60, the average cost is $1,896 per year.

For a 17-year-old female driver, the average annual rate is $8,451, while for a 17-year-old male driver, it is $9,655.

For a 25-year-old single female, the average rate is $3,066 per year, while for a 25-year-old single male, it is $3,248 per year.

For a 35-year-old married woman, the average rate is $2,528 per year, while for a 35-year-old married man, it is $2,583 per year.

For a 60-year-old married female driver, the average rate is $2,421 per year, while for a 60-year-old married male driver, it is $2,561 per year.

Average Cost of Full Coverage Car Insurance in Louisiana

The average cost of full coverage car insurance in Louisiana is $3,606 per year, or $301 per month. This is significantly higher than the national average of $2,329 per year for full coverage.

Average Cost of Minimum Coverage Car Insurance in Louisiana

The average cost of minimum coverage car insurance in Louisiana is $940 per year, or $78 per month. This is also higher than the national average of $633 per year for minimum coverage.

Cheapest Car Insurance Companies in Louisiana

Southern Farm Bureau offers the cheapest car insurance rates in Louisiana, with an average annual rate of $1,478 or $1,751, depending on the source. USAA also offers competitive rates, but their policies are only available to military members, veterans, and their families.

Car insurance rates in Louisiana for high-risk drivers

Car insurance rates in Louisiana are already high compared to the national average, but for high-risk drivers, they can be even more expensive. The average cost of full coverage car insurance in Louisiana is $2,487 per year, or $207 per month, but for high-risk drivers, this can be much higher.

Who is a high-risk driver?

High-risk drivers are those who are deemed more likely to be involved in an accident and, therefore, more likely to make a claim. This includes drivers with a history of traffic violations, such as speeding tickets or DUIs, and those with a record of at-fault accidents. Drivers with poor credit scores are also considered high-risk, as are young or teen drivers, who lack experience behind the wheel.

The exact amount a high-risk driver will pay for car insurance in Louisiana will depend on their specific circumstances, but some sources suggest that an at-fault accident can increase insurance rates by 38%, while a DUI conviction can increase rates by 56%. A speeding ticket can also cause a significant increase of up to 38%.

Southern Farm Bureau and Geico are two companies that offer competitive rates for high-risk drivers in Louisiana. Southern Farm Bureau has the cheapest rates for minimum coverage, while Geico is the cheapest for full coverage. For drivers with a DUI, Southern Farm Bureau also has the cheapest rates, and for young drivers, both Southern Farm Bureau and Geico offer affordable options.

High-risk drivers can save money on their car insurance by shopping around and comparing quotes from different companies. They can also take steps to improve their driving record, such as by enrolling in a defensive driving class or joining a telematics program. Improving their credit score can also help lower their insurance rates. Finally, high-risk drivers can look into taking advantage of discounts offered by insurance companies, such as safe driver discounts, low-mileage discounts, and vehicle-based discounts for safety features.

Car insurance rates in Louisiana by city

Car insurance rates in Louisiana vary by city. The average cost of full coverage car insurance in the state is $227 per month, or $2,719 per year. However, rates can fluctuate by up to $170 per month between cities.

In Louisiana, the cheapest full coverage car insurance can be found in Hornbeck, a small town near the Texas border, where residents pay around $174 per month. On the other hand, New Orleans residents pay about double that, with a policy costing on average $344 per month, making it the most expensive city in the state for car insurance.

Other large cities in Louisiana also have relatively high car insurance rates. In Baton Rouge, the state's second-largest city, car insurance costs an average of $277 per month. In Shreveport, car insurance costs $256 per month, and in Lafayette, it costs $241 per month.

The high cost of car insurance in Louisiana is due to several factors, including the large percentage of uninsured drivers and the high number of auto-related lawsuits in the state. Additionally, Louisiana has a high frequency of natural disasters, and the cost of repairing vehicles after storms and floods can contribute to higher insurance rates.

Frequently asked questions