Who Has Cheap Auto Insurance for Safe Drivers in Louisiana?

When shopping for the cheapest car insurance for good drivers, one of the many things that impact the price you pay for insurance is where your residence is. Urban areas that are densely populated like New Orleans, Marrero, and Central tend to have more expensive car insurance rates, whereas areas with less congestion have the enjoyment of a little cheaper coverage.

The illustration below ranks the most expensive cities in Louisiana for safe drivers to buy car insurance in.

Information shown are estimated as specific Louisiana zip code can impact premium rates noticeably.

The type of vehicle you are trying to insure is probably the biggest factor when quoting cheap auto insurance for safe drivers in Louisiana. Vehicles with average performance, excellent safety ratings, or a low likelihood of liability claims will cost much less to insure than higher performance models. The next table estimates insurance costs for a selection of the most budget-friendly automobiles to buy insurance for.

Table data represents single female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Louisiana minimum liability limits. Discounts applied include multi-policy, claim-free, safe-driver, multi-vehicle, and homeowner. Estimates do not factor in specific Louisiana garaging location which can alter premiums greatly.

Based upon the rates shown, we can conclude that cars like the Honda Accord, Honda CR-V, Chevrolet Traverse, Ford F-150, and Kia Forte are going to be the cheaper vehicles to insure for good drivers.

Full coverage rates compared to liability-only

Finding cheap auto insurance for safe drivers in Louisiana should be important to most drivers, and one common way to pay less for insurance is to only buy liability coverage. The illustration below shows the comparison of car insurance rates with full coverage compared to only the Louisiana minimum liability coverage. The prices are based on no claims or violations, $1,000 deductibles, marital status is single, and no discounts are applied to the premium.

google.charts.setOnLoadCallback(drawFclqcibChart);function drawFclqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘Full Coverage with $1,000 Deductibles’, ‘Liability Only’],[‘Age 20’, 3589,1399],[‘Age 30’, 1881,767],[‘Age 40’, 1839,711],[‘Age 50’, 1681,665],[‘Age 60’, 1629,653],[‘Age 70’, 2015,875]]);var options = {title: ‘Price Comparison of Full Coverage Versus Liability Only’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 500,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’},colors: [‘#6791b9′,’#98bee2’],hAxis: {title: ‘Annual Auto Insurance Cost for Average Vehicle in Louisiana’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);var chart = new google.visualization.BarChart(document.getElementById(‘qcibfcl’));chart.draw(data, options);}

As an overall average, physical damage coverage costs an additional $2,106 per year over and above liability coverage. Many of you may wonder if buying full coverage is a good investment. There is no written rule to eliminate physical damage coverage on your policy, but there is a general school of thought. If the yearly cost for physical damage coverage is more than about 10% of the replacement cost of your vehicle minus the policy deductible, then it might be time to consider dropping full coverage.

For example, let’s pretend your vehicle’s settlement value is $12,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, you would only receive $11,000 after paying your policy deductible. If you are paying more than $1,100 annually for physical damage coverage, the it may be a good time to stop paying for full coverage.

There are some scenarios where dropping full coverage is not advised. If you haven’t paid off your loan, you must maintain physical damage coverage to protect the lienholder’s interest. Also, if your finances do not allow you to purchase a different vehicle if your current one is totaled, you should maintain full coverage.

Safe drivers pay less for insurance

The obvious way to earn the cheapest insurance prices in Louisiana for good drivers is to be a safe driver and not get tickets or have accidents. The diagram below illustrates how traffic citations and at-fault collisions increase car insurance costs for different categories of driver ages. The rates are based on a single female driver, comp and collision included, $1,000 deductibles, and no discounts are factored in.

google.charts.setOnLoadCallback(drawVioqcibChart);function drawVioqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘No Violations or Accidents’, ‘Two Speeding Tickets and No Accidents’, ‘Two Speeding Tickets and Two Accidents’],[‘Age 20’, 2771,3385,5961],[‘Age 30’, 1869,2483,5057],[‘Age 40’, 1747,2365,4937],[‘Age 50’, 1529,2145,4717],[‘Age 60’, 1477,2095,4671],[‘Age 70’, 1747,2363,4939]]);var options = {title: ‘Effect of Violations and Accidents on Louisiana Auto Insurance Rates’,titleTextStyle: {color: ‘#333’, fontSize: 17, bold: true},width: ‘100%’,height: 600,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’,textStyle: {fontSize: 12}},colors:[‘#b2da64′,’#eed355′,’#e39e71’],hAxis: {title: ‘Annual Auto Insurance Cost for Average Vehicle in Louisiana’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);formatter.format(data,3);var chart = new google.visualization.BarChart(document.getElementById(‘qcibvio’));chart.draw(data, options);}

In the previous chart, the average cost of car insurance in Louisiana per year with no accidents or violations is $1,857. Get two speeding tickets and the average cost swells to $2,473, an increase of $616 each year. Then add two accidents along with the two speeding tickets and the yearly cost of insurance for safe drivers jumps again to an average of $5,047. That’s an increase of $3,190, or $266 per month, just for not driving responsibly!

Does Allstate, Geico, State Farm, or Progressive have the cheapest car insurance?

If you want reliable auto insurance for good drivers, some of the largest companies to start with are Allstate, Geico, State Farm, and Progressive. When added together, they insure almost half of the car insurance market in the United States. All of them offer liability and physical damage protection, but each on has a distinct set of features and optional coverages that buyers can select from. The following table points out some of the different features .