New Orleans drivers pay over $400 a year more for car insurance as compared to the U.S. average, but the real problem lies in the fact that consumers do not proactively shop their coverage around enough to find cheaper rates.
A recent study showed that on average drivers overpay almost $900 a year because they fail to find and switch to the lowest-cost car insurance. If you could spend a few minutes comparing rates and save up to $900 would you?
The cost of New Orleans car insurance depends on many variables, and one of the primary components is the type of car or truck you own. The rate information below details insurance cost for the top-selling vehicles insured in New Orleans.
| Make, Model, and Trim Level | Annual Cost | Semi-Annual Cost | Monthly Cost |
|---|---|---|---|
| Chevrolet Equinox LTZ 2WD | $1,326 | $663 | $111 |
| Chevrolet Silverado Crew Cab Hybrid 2WD | $1,392 | $696 | $116 |
| Dodge Grand Caravan Hero | $1,232 | $616 | $103 |
| Dodge Ram Crew Cab TRX 2WD | $1,342 | $671 | $112 |
| Ford Escape XLS 2WD | $1,040 | $520 | $87 |
| Ford F-150 SVT Raptor Super Cab 4WD | $1,258 | $629 | $105 |
| Ford Focus SEL 4-Dr Sedan | $1,272 | $636 | $106 |
| Honda Accord LX 4-Dr Sedan | $1,040 | $520 | $87 |
| Honda CR-V LX 4WD | $1,040 | $520 | $87 |
| Honda Civic EX-L 2-Dr Coupe | $1,528 | $764 | $127 |
| Honda Odyssey LX | $1,138 | $569 | $95 |
| Kia Optima LX | $1,316 | $658 | $110 |
| Nissan Altima 3.5 SR 2-Dr Coupe | $1,476 | $738 | $123 |
| Nissan Rogue S 2WD | $1,316 | $658 | $110 |
| Toyota Camry XLE | $1,300 | $650 | $108 |
| Toyota Corolla XLE | $1,300 | $650 | $108 |
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Data based on married female driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Louisiana minimum liability limits. Discounts applied include safe-driver, homeowner, multi-vehicle, multi-policy, and claim-free. Table data does not factor in vehicle garaging location which can increase or decrease rates considerably.
The diagram below demonstrates how deductibles and can affect yearly insurance costs for different age groups. The data is based on a married male driver, comp and collision included, and no discounts are applied.
How to find cheaper New Orleans car insurance rates
The steps below demonstrate how to compare rates and find cheaper prices on auto insurance.
Step 1: Gain an understanding of how companies set rates and the things you can change to prevent high rates. Many rating criteria that result in higher prices such as at-fault accidents, speeding tickets, and a not-so-good credit rating can be rectified by paying attention to minor details.
Step 2: Compare price quotes from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can only quote rates from one company like Progressive, State Farm, or Farmers Insurance, while agents who are independent can give you price quotes for a wide range of insurance providers.
Step 3: Compare the price quotes to your existing policy and determine if cheaper coverage is available in New Orleans. If you find a lower rate quote and decide to switch, make sure coverage is continuous and does not lapse.
Step 4: Notify your current company to cancel the current policy and submit a down payment and signed policy application to your new carrier. Once coverage is bound, keep your new certificate of insurance along with your vehicle registration.
One tip to remember is to use identical deductibles and limits on every quote and and to get rates from as many companies as you can. This enables a fair rate comparison and a complete price analysis.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| Travelers | 93 | 98 | 99 | 88% | A++ | 95.1 |
| USAA | 83 | 99 | 100 | 91% | A++ | 94.1 |
| Mercury Insurance | 97 | 96 | 88 | 89% | A+ | 93.4 |
| AAA Insurance | 91 | 95 | 92 | 90% | A | 93.3 |
| Nationwide | 85 | 95 | 97 | 89% | A+ | 92.4 |
| Allstate | 77 | 100 | 97 | 88% | A+ | 90.7 |
| State Farm | 80 | 94 | 96 | 88% | A++ | 90.6 |
| The Hartford | 88 | 93 | 91 | 87% | A+ | 90.4 |
| Safeco Insurance | 91 | 95 | 85 | 88% | A | 90.2 |
| Progressive | 88 | 94 | 83 | 88% | A+ | 90.1 |
| American Family | 91 | 86 | 95 | 83% | A | 89.7 |
| Esurance | 86 | 90 | 94 | 90% | A+ | 89.5 |
| The General | 86 | 93 | 89 | 84% | A- | 88.2 |
| GEICO | 79 | 89 | 95 | 87% | A++ | 87.8 |
| Titan Insurance | 86 | 82 | 92 | 86% | A+ | 86.5 |
| 21st Century | 86 | 82 | 90 | 84% | A | 86.4 |
| Liberty Mutual | 79 | 87 | 95 | 78% | A | 85.3 |
| Farmers Insurance | 77 | 80 | 80 | 84% | A | 80.3 |
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Decisions you make can lower your premiums
A large part of saving on auto insurance is knowing some of the things that play a part in calculating auto insurance rates. If you have some idea of what influences your rates, this enables informed choices that can earn you lower premium levels.
The items below are some of the most rate-impacting factors companies use to determine prices.
- Rates may be higher where you live – Having an address in small towns and rural areas can be a good thing when trying to find low car insurance rates. Urban drivers have to deal with more auto accidents and more severe claims. Less people living in that area means fewer accidents in addition to fewer liability claims.
- Can a thief steal your car? – Choosing to buy a car with anti-theft technology or alarm system can save you some money. Systems that thwart thieves like vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems all help stop auto theft.
- Eliminate incidental coverages – There are quite a few additional extra coverages that may not really be needed but may not be useful. Insurance for personal injury protection, accidental death, and term life insurance are examples of these. The coverages may be enticing when talking to your agent, but if you don’t need them think about removing them and cutting costs.
- Cheaper rates after marriage – Walking down the aisle may cut your premiums on your auto insurance bill. Having a significant other translates into being more responsible and statistics show being married results in fewer claims.
- Compare rates if you consolidate your policies – Most larger auto insurance companies allow lower prices to clients that have more than one policy, otherwise known as a multi-policy discount. Discounts can be five, ten or even twenty percent. Even with this discount, consumers should still compare other rates to make sure you are getting the best deal. It’s possible to still find a better deal by buying from different companies
- Better rates on vehicles with better crash test results – Cars with high safety ratings tend to be cheaper to insure. Safe vehicles protect occupants better and fewer serious injuries means less claims paid and thus lower rates. If your car or truck has at least four stars on Safercar.gov or an “acceptable” rating on iihs.org you may be receiving a better rate.
- Liability – The liability section of your policy will provide protection when a court rules you are at fault for damages caused by your negligence. It will provide legal defense coverage starting from day one. Carrying liability coverage is mandatory and cheap as compared to coverage for physical damage, so insureds should have plenty of protection for their assets.
- Teenage driver insurance costs – Older people tend to be more responsible, cause fewer claims and accidents, and are generally more financially stable. Teenage drivers are proven to be less responsible when driving so auto insurance rates are higher.