The words “low-cost” and “auto insurance” really should not be used together, especially when shopping around for the lowest insurance rates for young drivers. In an attempt to save some money, let’s take a look at some situations that significantly impact car insurance rates, and figure out some ways to take the bite out of the next policy you buy.
For youthful drivers, one of the largest criteria that aid in calculating the amount you pay for auto insurance is where you call home in New Orleans. Larger areas tend to pay more, whereas areas with fewer weather claims and lower vehicle theft rates have the luxury of lower rates.
The information below shows the highest-priced places in Louisiana for young drivers in which to buy car insurance. New Orleans is listed at #1 costing $2,827 for coverage, which is about $236 per month.
|Compare Rates Now Go|
Table data uses comparative as specific New Orleans garaging address can lower or raise premiums considerably.
The vehicle model requiring insurance is a significant factor in finding the cheapest insurance for young drivers. Vehicles with average performance, excellent safety ratings, or a low likelihood of having liability claims will cost significantly less to insure than fast, unsafe models. The next list showcases auto insurance rates for a selection of the more affordable automobiles to buy insurance for.
|Vehicle Insured||Estimated Cost for Full Coverage|
|Honda Accord LX-P 4-Dr Sedan||$9,791|
|Honda CR-V LX 2WD||$9,799|
|Ford Escape XLT 4WD||$9,880|
|Chevrolet Impala LS||$11,526|
|Ford Focus SE 4-Dr Sedan||$11,531|
|Ford Fusion S 4-Dr Sedan||$11,615|
|Chevrolet Malibu LS||$11,621|
|Toyota Camry LE||$11,615|
|Toyota RAV4 Limited 4WD||$11,624|
|Volkswagen Jetta LE 4-Dr Sedan||$11,615|
|Jeep Grand Cherokee Laredo 4WD||$11,624|
|Ford F-150 Lariat Crew Cab 2WD||$11,704|
|Get a Custom Quote Go|
Data assumes single female driver age 16, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Louisiana minimum liability limits. Discounts applied include safe-driver, and claim-free. Information does not factor in zip code location which can change premium rates substantially.
Looking at the data, makes and models like the Honda Accord, Honda CR-V, Ford Escape, and Toyota Prius are likely to be a few of the less-costly vehicles to insure for youthful drivers. The price for car insurance will be more costly just due to the fact that there is more claim exposure for young drivers, but overall those models will probably have the best insurance prices compared to other types of vehicles.
Get discounts on New Orleans auto insurance rates
Insurance providers that offer quotes for young drivers may have price discounts that could lower prices by as much as 35% or more if you meet specific eligibility requirements. A list of companies and their offered discounts are detailed below.
- Farm Bureau includes discounts for multi-vehicle, youthful driver, good student, multi-policy, and renewal discount.
- State Farm may have discounts that include multiple policy, passive restraint, Steer Clear safe driver discount, defensive driving training, and student away at school.
- Progressive offers premium reductions for multi-policy, good student, online quote discount, continuous coverage, and multi-vehicle.
- Allstate may offer discounts for senior citizen, farm vehicle, good payer, good student, 55 and retired, and passive restraint.
- Nationwide has discounts for accident-free, anti-theft, Farm Bureau membership, multi-policy, and good student.
- MetLife policyholders can earn discounts including claim-free, good student, defensive driver, good driver, and multi-policy.
The chart below illustrates the difference between yearly insurance costs with and without discounts applied to the premium. The rate quotes are based on a female driver, no violations or accidents, Louisiana state minimum liability limits, full coverage, and $250 deductibles.
The first bar for each age group shows insurance cost with no discounts. The second shows the rates with good student, passive restraint, vehicle safety, anti-theft, paid-in-full, and paperless filing discounts applied. When drivers take advantage of discounts, theaverage yearly reduction on auto insurance for young drivers is 28% or $1,126.
The diagram below highlights how deductible selection can increase or decrease insurance costs when searching for cheap insurance for young drivers. The premiums assume a married female driver, full physical damage coverage, and no discounts are factored in.
The chart above illustrates that a 40-year-old driver could cut expenses by $316 a year by switching the physical damage coverage from a $100 deductible to a $500 deductible, or save $478 by switching to a $1,000 deductible. Youthful drivers, such as the 20-year-old chart data, could reduce their rates $788 each year by selecting a higher deductible. When raising deductibles, it will be important to have enough savings set aside to be able to cover the extra out-of-pocket expense, which is the main disadvantage of using high deductibles.
How to find the cheapest auto insurance for young drivers
It’s not impossible to find cheaper rates, and here are some thrifty solutions that can help drivers find lower-cost coverage.
- Higher deductibles save money
- Save money by staying claim-free
- Safe vehicles generally have lower rates
- Don’t waste money on full coverage for older vehicles
- Improve your credit
- Insure your home and auto with the same company
- Compare rate quotes often
That final tip is very critical, as we stressed in this piece. Prices charged by car insurance companies adjust frequently, so don’t be afraid to buy from a different company if you find a better deal. We understand brand loyalty, but it isn’t a good idea if that loyalty results in overpaying a fortune every year. Take a couple minutes and shop around to find cheaper insurance for young drivers in New Orleans.
The agents below can help you decide which insurance coverage will be best for you, as some drivers aren’t sure which coverage they need and prefer to have professional advice when trying to find the best insurance rates for youthful drivers. It’s not always simple to find the cheapest auto insurance company, and using a licensed agent can provide comfort knowing you have adequate protection.
To find an auto insurance agency by location nearest to you, click the link after the list or click here to get price quotes now.
Nick Pontiff – State Farm Insurance Agent
229 N Genois St – New Orleans, LA 70119 – (504) 309-8773
Derek Morel – State Farm Insurance Agent
5555 Bullard Ave #104 – New Orleans, LA 70128 – (504) 247-9241
Murphy Insurance LLC
2107 Soniat St – New Orleans, LA 70115 – (504) 899-8010