For realtors, one of the largest things that are used to help calculate car insurance rates is the neighborhood you call home in New Orleans. More densely populated places tend to have more expensive auto insurance rates, whereas areas with less congestion can boast about having cheaper rates.
The next table rates the most expensive places in Louisiana for real estate agents to purchase car insurance in. New Orleans comes in at #1 with an annual rate of $2,914 for car insurance, which is approximately $243 monthly.
| Rank | City | Average Per Year |
|---|---|---|
| 1 | New Orleans | $2,914 |
| 2 | Harvey | $2,589 |
| 3 | Marrero | $2,494 |
| 4 | Terrytown | $2,480 |
| 5 | Baton Rouge | $2,231 |
| 6 | Central | $2,223 |
| 7 | Shenandoah | $2,204 |
| 8 | Metairie | $2,188 |
| 9 | Kenner | $2,159 |
| 10 | Hammond | $2,107 |
| 11 | Prairieville | $2,105 |
| 12 | Alexandria | $2,034 |
| 13 | Laplace | $1,991 |
| 14 | Lake Charles | $1,974 |
| 15 | Monroe | $1,931 |
| 16 | Lafayette | $1,917 |
| 17 | Sulphur | $1,916 |
| 18 | New Iberia | $1,909 |
| 19 | Slidell | $1,899 |
| 20 | Shreveport | $1,820 |
| Compare Rates Now Go | ||
Information shown are approximated as the vehicle garaging location can increase or decrease premiums substantially.
Finding good, reasonably-priced car insurance is challenging, and determining which company offers the cheapest car insurance rates for real estate agents will require even more shopping around. Each auto insurer uses their own calculation for determining rates in each state, so let’s take a look at the most competitive car insurance companies in Louisiana.
Best Car Insurance Prices for Realtors
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $1,578 |
| 2 | MetLife | $1,836 |
| 3 | Progressive | $1,946 |
| 4 | GEICO | $1,965 |
| 5 | Safeway | $2,154 |
| 6 | Southern Farm Bureau | $2,181 |
| 7 | California Casualty | $2,338 |
| 8 | State Farm | $2,359 |
| 9 | Safe Auto | $2,575 |
| 10 | Allstate | $2,975 |
| 11 | Encompass | $3,234 |
| 12 | Liberty Mutual | $3,645 |
| Quote Your Rates Go | ||
USAA may offer some of the best car insurance rates in New Orleans at around $1,578 a year. MetLife, Progressive, GEICO, and Safeway also qualify as some of the most economical New Orleans, LA car insurance companies.
In the rate table above, if you currently have coverage with GEICO and switched to MetLife, you may realize an annual premium reduction of in the vicinity of $129. Drivers with Safeway might save as much as $318 a year, and Southern Farm Bureau insureds might lower prices by up to $345 a year.
These rates are averaged across all insureds and vehicles and do not factor in a vehicle location for real estate agents. So the company that fits you best may not even be in the top 12 companies in the list above. That points out the importance of why you need to quote rates from as many companies as possible using your own driver information and specific vehicle type.
The type of vehicle you are buying coverage for is one of the biggest factors that determines whether or not you find the most economical coverage for real estate agents. Vehicles with lots of speed or power, poor safety features, or high incidents of liability claims will cost quite a bit more to insure than safer, lower-performance models. The next table estimates car insurance premiums for the most affordable automobiles to insure in Louisiana.
| Vehicle Insured | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V EX-L 2WD | $2,504 |
| Ford Escape Limited 4WD | $2,920 |
| Toyota Prius | $2,984 |
| Honda Accord EX-L 4-Dr Sedan | $2,991 |
| Jeep Wrangler Unlimited Sport 4WD 4-Dr | $2,987 |
| Toyota Tacoma X-Runner 2WD | $3,058 |
| Ford Edge Limited AWD | $3,066 |
| Toyota Corolla LE | $3,058 |
| Chevrolet Silverado LTZ Crew Cab 4WD | $3,114 |
| GMC Sierra 2500HD SLE Crew Cab 4WD | $3,122 |
| Toyota RAV4 Limited 4WD | $3,178 |
| Chevrolet Malibu LS | $3,187 |
| Jeep Grand Cherokee Laredo 2WD | $3,178 |
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Data variables include single male driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Louisiana minimum liability limits. Discounts applied include homeowner, claim-free, multi-vehicle, safe-driver, and multi-policy. Rate quotes do not factor in specific garaging location which can modify premium rates significantly.
Based upon the rates shown, we can presume that vehicles like the Honda CR-V, Ford Escape, Toyota Prius, and Honda Accord should be the less-costly vehicles to insure for realtors.
The illustration below illustrates how your deductible choice can impact yearly insurance costs when searching for cheap insurance for real estate agents. The costs are based on a single male driver, comp and collision included, and no discounts are taken into consideration.
A 50-year-old driver could lower their car insurance rates by $518 a year by switching the physical damage coverage from a $100 deductible to a $500 deductible, or save $776 by switching to a $1,000 deductible. Even younger drivers, such as the Age 20 example, could shave as much as $1,724 annually just by using higher deductibles.
When using a larger deductible, it is essential to have enough spare savings to pay the extra out-of-pocket expense, which is the one shortcoming of high deductibles.
Full coverage rates vs. liability-only in New Orleans
Paying less for car insurance is the goal of most people, and one common way to buy cheaper insurance for real estate agents is to not pay for full coverage. The information below illustrates the comparison of car insurance costs when comparing full coverage to liability only. The data is based on no accidents, no driving violations, $100 deductibles, drivers are not married, and no policy discounts are applied.
As an average, physical damage coverage on your policy costs an additional $2,655 per year more than buying just liability insurance. Lot’s of drivers question if physical damage coverage is worth the money. There is no set rule to exclude physical damage coverage on your policy, but there is a general guideline. If the annual cost of having full coverage is more than about 10% of the vehicle’s replacement cost less your deductible, then you may want to consider only buying liability coverage.
Get discount New Orleans auto insurance
Insurance providers that provide coverage for real estate agents may also provide discounts that could reduce prices by 40% or more if you can meet the requirements. A list of car insurance companies and a partial list of their discounts can be found below.
- GEICO has savings for five-year accident-free, good student, military active duty, anti-theft, emergency military deployment, and air bags.
- Travelers may include discounts for hybrid/electric vehicle, early quote, new car, save driver, continuous insurance, IntelliDrive, and good student.
- Farm Bureau may have discounts that include multi-policy, driver training, renewal discount, safe driver, good student, and multi-vehicle.
- Liberty Mutual offers discounts including new vehicle discount, good student, multi-policy, safety features, exclusive group savings, new move discount, and newly retired.
- American Family may offer discounts for bundled insurance, TimeAway discount, multi-vehicle, Steer into Savings, defensive driver, and early bird.
- Progressive policyholders can earn discounts including homeowner, multi-vehicle, good student, multi-policy, continuous coverage, online quote discount, and online signing.
The illustration below shows the comparison of insurance costs with and without discounts being applied to the rates. The price estimates are based on a male driver, no violations or claims, Louisiana state minimum liability limits, full physical damage coverage, and $500 deductibles.
The first bar for each age group shows insurance cost with no discounts. The second bar shows the rates with anti-theft, homeowner, safe-driver, multiple vehicle, accident-free, and marriage discounts applied. When drivers take advantage of discounts, theaverage yearly reduction on car insurance for real estate agents is 28% or $815.