Car Insurance Companies In Louisiana

Car Insurance Companies In Louisiana – Home » Best Auto Insurance » Best Auto Insurance by State » Louisiana Auto Insurance (Coverage, Corporate, and More)

Louisiana auto insurance premiums (coverage, corporate, and more) are among the most expensive in the United States, and Louisiana auto insurance rates can be higher if you’re a new or high-risk driver. Read this guide for tips on keeping your Louisiana car insurance costs as low as possible and enter your zip code below to find Louisiana car insurance quotes near you.

Car Insurance Companies In Louisiana

Car Insurance Companies In Louisiana

Rachel Brennan has been in the insurance industry since 2006 when she began working as a licensed insurance representative for 21st Century Insurance, during which time she held her property and casualty licenses in all 50 states. Several years later, she expanded her expertise into the insurance field, earning licenses in health insurance and AD&D insurance as well. I worked for a small health insurance…

Driving Without Insurance In Louisiana

Chris Harrigan holds an economics degree from Limestone College and an MBA from Clemson University. He previously managed auto insurance claims for Enterprise Rent-A-Car. Currently, he uses his business and insurance expertise to provide insurance data analysis and visualizations to enhance the user experience.

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Auto Insurance Climbing 5% In 2022. Where It’s Most, Least Expensive

It’s a fact: Louisiana is one of the hardest states when it comes to finding affordable auto insurance. While Louisiana providers and lawmakers work together to try to keep rates reasonable for the average resident, if you want to remain covered by the state, you’re still expected to make the transition to a reasonable percentage of your disposable income.

Environmental factors, primarily, are what make car insurance so expensive in the Pelican State. Your zip code, demographics, and more can make or break the quoted rate, depending on which auto insurance company you choose to work with.

Don’t feel like you face this challenge alone, though. We are here to help.

Car Insurance Companies In Louisiana

You can use this guide to auto insurance in Louisiana to better understand the loopholes you need to get the coverage you need. We’ll discuss available discounts, state laws, and the types of insurance you can choose from.

Facts + Statistics: Auto Insurance

Want to start comparing prices? You can enter your zip code into our free online tool to get a better idea of ​​what premiums are available in your area.

Car insurance premiums in Louisiana are among the most expensive in the United States. This fact is also true when considering the discounts and programs that the state offers to its residents.

We will explore the reasons for these high costs later in this guide. For now, let’s take a look at coverage and pricing in Louisiana to see what you have to work with.

All Louisiana residents are required to carry at least the state’s minimum liability coverage, which provides you with basic coverage in the event of an accident.

Taking On Multiple Insurance Companies If Involved In A Louisiana Truck Accident

You’ll need this insurance on your end if you get into an accident, because Louisiana is a no-fault state. This means that a driver will be blamed for the accident after the fact. This driver, in turn, will be liable for their damages and the damages of the other party.

If you are not protected and are “accidentally” found in an accident, it can cost you a lot of money.

It is often claimed that men pay more for car insurance because they are more reckless drivers, although some people say it is the other way around because women pay more. As you can see below, no claim is always true.

In fact, age has a big impact on how much you pay for car insurance. Teenagers, regardless of their gender, pay more for their coverage than middle-aged adults.

Average Car Insurance Costs For 20 Year Old Drivers

It’s not just age and gender that can affect the insurance premium you’re offered. Your zip code can also have a significant impact on your starting price, as you can see in the following table, which lists the 25 Louisiana zip codes with the lowest prices:

If you want to avoid paying high auto insurance rates, try staying outside of these 25 zip codes:

As you might expect, urban zip codes host higher premiums than rural zip codes. However, this is a statewide display of high premiums for car insurance in Louisiana.

The price of insurance offered on the car will also vary depending on the city where you live. Here’s what people pay in Louisiana cities.

Who Has The Cheapest Car Insurance Quotes In Louisiana? (2023)

As is the case with zip codes, urban centers like Baton Rouge host higher premiums than their metropolitan counterparts.

In addition to minimum (or better) liability coverage, you should carry financial liability forms with you when you drive. These forms prove to any law enforcement officers who may pull you over that you have the insurance required to legally drive on the road.

But Louisiana is taking this policy a step further. The Louisiana Bureau of Motor Vehicles refuses to allow drivers to register their vehicles unless they provide financial responsibility forms, known as proof of insurance.

Car Insurance Companies In Louisiana

Louisiana residents earn an average of $37,787 annually. This is the average annual per capita income of the state. A percentage of your income goes toward utilities, groceries, entertainment, etc. However, another part needs to go towards securing your car.

What To Do If Your Car Is Stolen

In Louisiana, residents pay $1,364 annually for their car insurance. That means they will pay an average of $125 per month to stay insured.

The percentage of their annual salary devoted to auto insurance—3.6 percent—is the highest in the United States, with Michigan coming in second.

In short, if you’re thinking about moving to Louisiana, make sure your per capita disposable income will cover your car insurance without forcing you to sacrifice other needs.

Don’t think that minimum liability coverage is your only option when it comes to auto insurance in Louisiana. You’ll be able to choose from a variety of plans, including plans detailed by the National Association of Insurance Commissioners:

You Really Can Lower Your Car Insurance Cost

Note that the national average for full coverage comes in at $1,009.38. As you can see, the average annual cost for full coverage in Louisiana blows that number out of the water at less than $400.

So you may be wondering: If auto insurance in Louisiana is so expensive, why should I invest in a plan that exceeds the state’s minimum liability requirements?

Remember, Louisiana is the wrong country. If you are in an accident that is your fault, you could end up paying a lot of money for expensive repairs and medical costs. That’s why additional liability coverage, such as the options listed below, can be beneficial.

Car Insurance Companies In Louisiana

The table above details MedPay’s loss ratio and uninsured/underinsured coverage. Loss ratios tell us how often different auto insurance providers pay their drivers’ claims.

Keith D. Peterson Insurance: Local Independent Insurance Agency

The higher the loss percentage, the more likely the company will pay your claim. However, a very high loss ratio (any number close to 100) indicates that the company is paying on too many claims, and that financial instability may be imminent.

On the flip side, an auto insurance company with a low loss ratio (or some form of coverage) indicates that companies are reluctant to pay claims, which can be a problem for you if you have to file one.

In most cases, you’ll want to work with a provider with a loss ratio between 60 and 70 percent (and choose the type of coverage).

When you start your car insurance research, you will have a good idea of ​​the companies you are considering. Let’s break down the data from the top 10 auto insurance providers operating in Louisiana so you can look at your options in more detail.

Largest Auto Insurance Companies In The U.s. (2022)

A.M. Let’s lay the groundwork by looking at the financial ratings of companies issued by the best. You can see the range of classifications in the table below:

But what do the drivers think? Let’s dive into one of JD’s reports. Power to see how the top 10 companies performed in terms of customer service:

Customer complaints are also worth considering. Although complaints don’t always determine a company’s value, they can reveal weaknesses in an auto insurance company. With that in mind, take a look at the table below:

GoAuto has the highest complaint index in Louisiana. This means that the number of complaints they receive is much higher than you would expect based on the company’s market share. Received State Farm

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