A recent survey discovered that the vast majority of auto insurance customers kept their policy with the same company for at least four years, and practically 40% of auto insurance customers have never compared auto insurance rates at all. The average driver in Louisiana could save themselves about 35% a year by just comparing rate quotes, but most undervalue the benefits if they changed companies.
The preferred way to find better pricing on Mercury Milan insurance is to make a habit of comparing prices annually from different companies in New Orleans.
- Step 1: Gain an understanding of individual coverages and the measures you can take to lower rates. Many factors that result in higher prices such as accidents, traffic tickets, and a less-than-favorable credit score can be remedied by improving your driving habits or financial responsibility. Keep reading for more information to help prevent costly coverage and get bigger discounts.
- Step 2: Quote rates from exclusive agents, independent agents, and direct providers. Direct companies and exclusive agencies can only give prices from one company like Progressive or State Farm, while independent agencies can provide rate quotes from many different companies.
- Step 3: Compare the new rate quotes to your current policy premium to see if a cheaper price is available in New Orleans. If you find a lower rate and make a switch, ensure there is no coverage lapse between policies.
- Step 4: Give proper notification to your current agent or company of your intent to cancel the current policy and submit payment along with a signed and completed policy application for the new coverage. As soon as you receive it, put the new proof of insurance paperwork somewhere easily accessible.
An important note is that you use the same deductibles and limits on each quote and and to analyze as many companies as possible. Doing this ensures a fair price comparison and a complete price analysis.
When shopping for inexpensive New Orleans auto insurance quotes, there are a couple of ways to compare rate quotes from many different Louisiana insurance companies. The fastest way to find the lowest Mercury Milan rates is to jump online and get quotes.
Doing price comparisons online is so simple that it makes it obsolete to spend your day driving to each insurance agency near you. The ability to buy insurance online makes this process obsolete unless you want the guidance that only a licensed agent can provide. Although, it is possible compare the best prices online but buy from a local insurance agent.
Just remember that making a lot of price comparisons provides better odds of finding more affordable insurance. Some regional insurers cannot provide online rate quotes, so you should also compare rates from those companies as well.
The following companies provide free rate quotes in Louisiana. If you wish to find the best car insurance in Louisiana, we recommend you visit several of them to find the cheapest car insurance rates.
Auto insurance data for a Mercury Milan
The price information shown next highlights a range of insurance costs for Mercury Milan models. Understanding more about how prices are formulated can be useful when making smart buying decisions.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Milan Premier AWD||$398||$820||$478||$28||$144||$1,868||$156|
|Get Your Own Custom Quote Go|
Table data represents single male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Louisiana minimum liability limits. Discounts applied include homeowner, claim-free, safe-driver, multi-vehicle, and multi-policy. Rates do not factor in specific zip code location which can alter coverage prices significantly.
Should you buy full coverage?
The illustration below illustrates the comparison of Mercury Milan annual premium costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The information is based on no tickets, no at-fault accidents, $100 deductibles, single marital status, and no additional discounts are factored in.
Guidelines for eliminating full coverage
There is no clear-cut rule of when to eliminate physical damage insurance, but there is a guideline you can consider. If the annual cost of your full coverage insurance is 10% or more of any settlement you would receive from your insurance company, then you might consider buying liability only.
For example, let’s say your Mercury Milan replacement cost is $6,000 and you have $1,000 physical damage deductibles. If your vehicle is damaged in an accident, the most you would receive is $5,000 after paying your deductible. If premium cost is more than $500 annually for your policy with full coverage, then you might want to think about dropping full coverage.
There are some circumstances where only buying liability is not financially feasible. If you have an outstanding loan on your vehicle, you have to maintain full coverage in order to prevent your loan from defaulting. Also, if your emergency fund is not enough to purchase a different vehicle in the event your current vehicle is totaled, you should not remove full coverage.
Why you need to buy auto insurance
Even though it’s not necessarily cheap to insure a Mercury in New Orleans, paying for auto insurance is required in Louisiana but it also protects you in many ways.
- The majority of states have mandatory insurance requirements which means you are required to carry a specific minimum amount of liability if you drive a vehicle. In Louisiana these limits are 15/30/25 which means you must have $15,000 of bodily injury coverage per person, $30,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
- If you took out a loan on your vehicle, it’s guaranteed your bank will make it a condition of the loan that you buy full coverage to guarantee loan repayment. If coverage lapses or is canceled, the bank or lender will purchase a policy for your Mercury at a significantly higher premium and require you to fork over the higher price.
- Auto insurance protects both your assets and your vehicle. It also can pay for hospital and medical expenses for yourself as well as anyone injured by you. Liability coverage also covers legal expenses if you are sued as the result of an accident. If damage is caused by hail or an accident, comprehensive (other-than-collision) and collision coverage will cover the repair costs.
The benefits of insuring your car more than cancel out the cost, especially with large liability claims. Unknowingly, the average driver is wasting up to $869 every year so it’s very important to do a rate comparison at least once a year to help ensure money is not being wasted.
How Insurers Calculate Mercury Milan Insurance Premiums
Smart consumers have a good feel for some of the elements that help calculate your premiums. If you have some idea of what controls the rates you pay, this enables informed choices that will entitle you to cheaper rates. Multiple criteria are part of the calculation when pricing auto insurance. Some are pretty understandable such as your driving record, although some other factors are less obvious such as your marital status or how safe your car is.
The list below includes some of the most common factors used by companies to determine prices.
- Eliminate incidental coverages – Policies have add-on coverages that can add up if you aren’t careful. Insurance for roadside assistance, towing coverage, and extra life insurance coverage are probably not needed. These may sound like a good investment when buying your policy, but if they’re wasting money eliminate the coverages to reduce your premium.
- Save money with good credit – Your credit score will be a significant factor in determining what you pay. Insureds with very good credit scores tend to file fewer claims and have better driving records as compared to drivers with lower ratings. So if your credit score can be improved, you could be paying less to insure your Mercury Milan by improving your rating.
- How much liability – Your policy’s liability coverage will afford coverage if ever a jury decides you are liable for causing personal injury or damage in an accident. This coverage provides legal defense coverage starting from day one. This coverage is relatively inexpensive compared to insuring for physical damage coverage, so do not skimp.
Traffic violations increase prices – Drivers with clean records get better prices as compared to careless drivers. Even a single speeding ticket or other violation could increase your next policy renewal by twenty percent. Drivers who have received dangerous violations like DUI or reckless driving may find they need to submit a SR-22 form with their state’s department of motor vehicles in order to prevent their license from being revoked.
The example below illustrates how speeding tickets and at-fault accidents can influence Mercury Milan auto insurance costs for each different age group. The costs are based on a married male driver, full physical damage coverage, $500 deductibles, and no additional discounts are factored in.
Teenagers are high risk – Beginning drivers in Louisiana are known to be easily distracted when at the wheel of a vehicle therefore auto insurance rates are much higher. Older, more experienced drivers have been proven to be more responsible, tend to file fewer claims, and are safer drivers.
The following data uses these assumptions: single driver, full coverage with $100 deductibles, and no discounts or violations.
- Increase coverage deductibles to save – Deductibles for physical damage define the amount you are willing to pay before a claim is paid by your company. Insurance for physical damage, commonly called comprehensive (or other-than-collision) and collision coverage, insures against damage to your car. Some examples of claims that would be covered could be colliding with a stationary object, damage from fire, or theft of your vehicle. The more money the insured has to pay upfront, the lower your rates will be.
- Lower rates for safer vehicles – Vehicles with good safety scores tend to be cheaper to insure. Safer cars protect occupants better and reduced instances of injuries translates directly to fewer claims and lower rates for you. If your Mercury Milan is rated at a minimum an “acceptable” rating on the Insurance Institute for Highway Safety website it may cost less to insure.
- Prevent coverage lapses – Driving your car without having proper coverage can get you a ticket and auto insurance companies will penalize you for letting your insurance coverage expire. In addition to paying higher premiums, failure to provide proof of insurance will get you a fine, jail time, or a revoked license. You could then be forced to submit proof of financial responsibility or a SR-22 with the Louisiana motor vehicle department.
You may qualify for discounts for Mercury Milan insurance in New Orleans
Buying car insurance is not cheap, but there are discounts available to cut the cost considerably. Some discounts apply automatically when you purchase, but some discounts are required to be specially asked for prior to receiving the credit.
- Discounts for Federal Employees – Being employed by or retired from a federal job can earn a discount up to 10% with some car insurance companies.
- Senior Citizen Rates – If you’re over the age of 55, you could receive a slight reduction on a New Orleans auto insurance quote.
- E-sign Discounts – A few larger online companies will give you a small discount for completing your application online.
- Seat Belts Save – Buckling up and requiring all passengers to use their safety belts can save a little on medical payment and PIP coverage.
- College Student Discount – Any of your kids who are enrolled in higher education away from home and do not have a car may be able to be covered for less.
Policy discounts save money, but some credits don’t apply to all coverage premiums. Some only apply to specific coverage prices like liability, collision or medical payments. Just because it seems like adding up those discounts means a free policy, you won’t be that lucky.
The diagram below visualizes the comparison of Mercury Milan annual premium costs with and without discounts applied to the premium. The rate quotes are based on a male driver, no accidents, no driving violations, Louisiana state minimum liability limits, full coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, marriage, multi-policy, claim-free, multi-car, and homeowner discounts applied.
Companies and a partial list of their discounts can be read below.
- Progressive offers discounts including multi-policy, continuous coverage, multi-vehicle, good student, and online signing.
- The Hartford may have discounts that include vehicle fuel type, driver training, defensive driver, bundle, good student, air bag, and anti-theft.
- Mercury Insurance policyholders can earn discounts including annual mileage, multi-policy, ease of repair, accident-free, type of vehicle, anti-theft, and good student.
- GEICO may include discounts for driver training, good student, multi-policy, membership and employees, five-year accident-free, seat belt use, and multi-vehicle.
- AAA offers premium reductions for good student, pay-in-full, good driver, anti-theft, education and occupation, multi-policy, and AAA membership discount.
- State Farm offers discounts for defensive driving training, accident-free, driver’s education, student away at school, anti-theft, and passive restraint.
When getting free New Orleans auto insurance quotes, it’s a good idea to every insurance company which discounts can lower your rates. All car insurance discounts may not be available in New Orleans.
Different people need different auto insurance coverages
Always remember that when buying a policy, there isn’t really a one-size-fits-all type of policy. Everyone’s situation is unique.
For instance, these questions can help discover if your insurance needs would benefit from professional advice.
- Do I need to file an SR-22 for a DUI in Louisiana?
- Does my medical payments coverage pay my health insurance deductible?
- When should I have rental car coverage?
- Do I need PIP coverage since I have good health insurance?
- Can my teen driver be rated on a liability-only vehicle?
- What is an umbrella policy?
- How do I buy GAP insurance?
- What does medical payments coverage do?
- When should I remove comp and collision on my Mercury Milan?
- Should I buy more coverage than the required Louisiana minimum liability coverage?
If you’re not sure about those questions but you know they apply to you then you might want to talk to a licensed agent. If you want to speak to an agent in your area, complete this form.
Get rate quotes but work with a local neighborhood New Orleans car insurance agent
Many people still prefer to get professional advice from a licensed agent and there is nothing wrong with that. One of the best bonuses of getting free rate quotes online is that drivers can save money and get the lowest rates and still choose a local agent. And buying from local insurance agents is important particularly in New Orleans.
After filling out this form (opens in new window), your information is submitted to local insurance agents in New Orleans who can give free rate quotes for your coverage. You never need to even leave your home due to the fact that quote results will go to you. Get lower rates without the usual hassles of price shopping. If for some reason you want to quote rates from a specific insurance company, don’t hesitate to navigate to their website and give them your coverage information.
If you prefer to buy insurance from a local New Orleans insurance agency, there are two different types of agencies that you can choose from. Insurance agents may be either independent agents or exclusive agents depending on their employer.
Independent Insurance Agents
Agents of this type do not sell for just one brand and that is an advantage because they can write policies with many different companies and find the cheapest insurance rates. If prices rise, your policy is moved internally and you stay with the same agent.
When comparison shopping, you absolutely need to get several quotes from independent agents to have the best price comparison.
Listed below is a short list of independent agencies in New Orleans who may provide free insurance quotes.
Exclusive Insurance Agents
Agents that elect to be exclusive generally can only insure with one company and some examples include State Farm or Allstate. They generally cannot compare rates from other companies so they have no alternatives for high prices. Exclusive agencies are usually quite knowledgeable in insurance sales which helps them sell insurance even at higher premiums.
Below is a short list of exclusive insurance agents in New Orleans that are able to give price quote information.
Choosing an insurance agency shouldn’t rely on just the bottom line cost. Here are some questions you should ask.
- If your car is totaled, how to they determine the replacement cost?
- Do they specialize in personal lines coverage in New Orleans?
- Can they give you a list of client referrals?
- How will an accident affect your rates?
- Do they prorate repair cost based on vehicle mileage?
- If independent agents, which companies do they recommend?
- What insurance company do they write the most business with?
If you feel you receive answers to your satisfaction to any questions you have and a low price estimate, you may have just found an insurance agent that is a good match to service your policy.
Don’t give up on cheap rates
A few companies do not offer rates over the internet and usually these smaller companies only sell coverage through independent insurance agents. Low-cost Mercury Milan insurance in New Orleans can be purchased both online and from local agencies, so you should be comparing quotes from both to have the best selection.
Drivers leave their current company for any number of reasons including questionable increases in premium, high prices, delays in paying claims and even poor customer service. Regardless of your reason, choosing a new company can be less work than you think.
As you shop your coverage around, make sure you don’t buy lower coverage limits just to save a few bucks. In too many instances, an insured dropped full coverage only to regret that their decision to reduce coverage ended up costing them more. The goal is to get the best coverage possible at an affordable rate, not the least amount of coverage.
Additional auto insurance information is available on the following sites:
- Things to Know Before you Cancel Insurance (Allstate)
- How Much is Auto Insurance for Infrequent Drivers in New Orleans? (FAQ)
- Distracted Driving Extends Beyond Texting (State Farm)
- Rearview cameras reduce backing crashes (Insurance Institute for Highway Safety)
- Electronic Stability Control FAQ (iihs.org)
- What if I Can’t Find Coverage? (Insurance Information Institute)