Auto Insurance In New Orleans: Who Offers The Cheapest?

Car insurance in New Orleans is more expensive than the national average. The average cost of a full-coverage car insurance policy in New Orleans is $3,940 a year, compared to the national average of $2,008. The cheapest companies for car insurance in New Orleans are Southern Farm Bureau, Louisiana Farm Bureau, USAA, State Farm, and Geico.

Minimum coverage insurance

In Louisiana, the minimum liability coverage extends to bodily injury and property damage with the following limits:

• $15,000 bodily injury liability per person
• $30,000 bodily injury liability per accident
• $25,000 property damage liability per accident

Your liability coverage will pay the medical bills for any injured drivers and passengers if you’re found to be at fault for an accident, but only up to the stated limits. For example, with bodily injury liability limits of $15,000 per person and $30,000 per accident, your insurer will pay up to $15,000 per injured person but not over $30,000 per incident, regardless of how many were injured. You will have to pay out of pocket for expenses that exceed these limits.

The cheapest car insurance companies for a minimum coverage policy in New Orleans are:

• Louisiana Farm Bureau: $772 per year
• State Farm: $836 per year
• Southern Farm Bureau: $759 per year
• USAA: $808 per year
• Geico: $856 per year

Allstate is the least affordable company for minimum coverage, with an average cost of $1,817 per year.

The average cost of car insurance for minimum coverage in New Orleans is $1,510 per year, which is about 142% more than the national average of $625 per year.

Full coverage insurance

The cost of full coverage insurance in New Orleans varies depending on the company and the driver's profile. The average cost of full coverage insurance in New Orleans is $386 per month or $4,627 per year, which is significantly higher than the national average. However, there are a few companies that offer more affordable rates.

Southern Farm Bureau offers the cheapest full coverage insurance in New Orleans, with an average rate of $1,608 per year. State Farm is also a good option, with an average rate of $2,011 per year. For military personnel, USAA offers excellent rates, with full coverage costing around $1,384 per year. GEICO is another option, with an average rate of $2,574 per year.

It's important to shop around and compare rates from multiple companies, as the cost of insurance can vary significantly depending on your age, driving history, credit score, and other factors. Additionally, ask about discounts, such as those for safe drivers or certain professions, to help lower your premium.

Car insurance for teens

USAA is the cheapest option for teen drivers in New Orleans, with minimum-coverage rates as low as $257 per month or $3,085 per year. State Farm, Southern Farm Bureau, and Geico also offer affordable premiums for teens. Adding a teen driver to a family policy is a more cost-effective alternative to an individual policy. For example, a 16-year-old male in New Orleans would pay $4,767 more for an individual policy compared to being on a family policy.

When shopping for car insurance for teens in New Orleans, it's important to compare rates from multiple companies and seek out discounts. The cost of insurance can vary significantly depending on the driver's profile, including age, gender, driving history, credit score, and location.

Southern Farm Bureau offers the cheapest minimum-coverage policies on average, while USAA is often the most affordable option for full coverage. The average cost of minimum-coverage insurance in New Orleans is $126 per month or $1,510 per year, and full-coverage insurance costs $386 per month or $4,627 per year on average.

Car insurance for drivers with a DUI

When it comes to car insurance, drivers with a DUI on their record are considered high-risk. As a result, insurance companies will typically increase rates significantly for these drivers. In some cases, your existing insurer may even choose not to renew your policy. However, there are insurance companies that cater to high-risk drivers.

In New Orleans, drivers with a DUI on their record pay an average of $326 per month for liability-only coverage. The cheapest liability-only insurance for these drivers is offered by Southern Farm Bureau, at $772 per year. State Farm is another good option, with rates starting at $836 per year.

For full coverage, the cheapest option in New Orleans is also Southern Farm Bureau, at $1,608 per year. State Farm is again a good alternative, with rates starting at $2,011 per year.

To find the cheapest insurance option for your circumstances, it is recommended that you shop around and compare quotes from multiple companies.

Car insurance for drivers with poor credit

When it comes to car insurance in New Orleans, Southern Farm Bureau offers the cheapest premiums for the typical insurance buyer. However, the cheapest company for you will depend on your specific needs and driver profile. Louisiana Farm Bureau is the most affordable insurer for full coverage, minimum coverage, and drivers with offences.

If you have poor credit, you may be wondering how this will impact your car insurance rates. Unfortunately, drivers with poor credit typically pay more for car insurance. This is because car insurance companies use a credit-based insurance score to calculate risk, and those with lower credit scores are seen as more likely to file insurance claims. In fact, in some states, drivers with poor credit can pay over twice as much as drivers with good credit for the same coverage.

However, there are still ways to find affordable car insurance if you have poor credit. Here are some tips to help you get the best rates:

• Compare quotes from multiple companies: Each insurer weighs credit history differently, so it's important to shop around to find the best rate for your situation.
• Look for companies that don't consider credit: In California, Hawaii, and Massachusetts, insurers are not allowed to use credit history to determine premiums. Some smaller local insurers may also offer no-credit-check policies.
• Improve your credit score: This may take time, but you can start by paying your bills on time, keeping your credit utilization low, and disputing any errors on your credit report.
• Take advantage of discounts: Many insurance companies offer a variety of discounts, such as bundling multiple policies or having safety features in your car.
• Pay your full annual premium at once: Some companies offer discounted rates if you pay your premium upfront rather than in installments.

According to MarketWatch, the cheapest car insurance companies for poor credit on a national level include USAA, Geico, Nationwide, and Progressive. MoneyGeek also recommends Nationwide and GEICO as the cheapest options for poor credit on average, with annual premiums of $1,374 and $1,775 respectively. However, the cheapest company for you will depend on your state and individual factors.

Frequently asked questions