Buying affordable auto insurance for a Nissan Versa is pretty easy for most people to do, but it depends on many rating factors such as the safety rating for your Versa, your credit history, and any past driving violations you may have had. Drivers in Louisiana pay approximately $1,223 a year for Versa insurance, but that is a projection based upon a 30-year-old married male driver with full comprehensive and collision coverage and $500 deductibles.
The problem with using this number is the good chance you’re not a 30-year-old male, single instead of married, or maybe you’re a renter instead of a homeowner. Even a minor difference in the factors used in pricing a policy can make a large difference in the price of a policy.
Each driver’s needs are different, and that demonstrates why the best method for finding the cheapest insurance price for your Nissan is to do a thorough rate comparison.
The specific trim level will most likely have an effect on the cost of insurance, so the price you pay to insure a Versa 1.6 SEDAN model will be $338 less expensive the cost to insure the more well-appointed Versa 1.8 SL SEDAN model, as shown in the table below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Versa 1.6 SEDAN||$216||$400||$464||$28||$140||$1,248||$104|
|Versa 1.8 S Hatchback||$254||$574||$464||$28||$140||$1,460||$122|
|Versa 1.8 S SEDAN||$254||$574||$464||$28||$140||$1,460||$122|
|Versa 1.8 SL Hatchback||$292||$662||$464||$28||$140||$1,586||$132|
|Versa 1.8 SL SEDAN||$292||$662||$464||$28||$140||$1,586||$132|
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Cost estimates assume married male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Louisiana minimum liability limits. Discounts applied include homeowner, safe-driver, claim-free, multi-vehicle, and multi-policy. Premium amounts do not factor in garaging location in New Orleans which can impact premium rates greatly.
Finding out which companies have the most affordable insurance rates for a Nissan Versa calls for a little more effort in order to find the best policy.
Each insurance company has their own process to determine premium rates, so let’s take a look at the most affordable insurance companies in Louisiana.
Best Car Insurance Prices for Your Versa
|Rank||Company||Cost Per Year|
|6||Southern Farm Bureau||$2,204|
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USAA offers some of the best car insurance rates in New Orleans at around $1,594 each year. This is $820 less than the average policy premium paid by Louisiana drivers of $2,414. MetLife, GEICO, Progressive, and Safeway would also be considered some of the cheapest New Orleans, LA insurance companies.
As the rates illustrate above, if you are a customer of MetLife and switched to USAA, you might achieve savings of around $242. Louisiana drivers with GEICO may save as much as $351 a year, and Progressive insureds might lower prices by $411 a year.
To discover how much you can save, click here or quote prices from the following companies.
Remember that these premium estimates are averaged for all types of insureds and vehicles and and are not calculated with an exact location for a Nissan Versa. So the company that has the lowest price for you may not even be in the list above. That helps illustrate why you need to quote rates from as many companies as possible using your own driver data and vehicle information.
Full coverage rates vs. liability-only in New Orleans
Buying cheaper insurance is probably important to most vehicle owners, and one of the quickest ways to pay less for insurance for a Nissan Versa is to only pay for liability coverage. The information below illustrates the difference between auto insurance rates with full physical damage coverage compared to only buying the minimum liability limits required in Louisiana. The rate quotes are based on no tickets, no at-fault accidents, $250 deductibles, single status, and no discounts are taken into consideration.
Averaged out for all age groups, comprehensive and collision coverage on your policy costs $2,569 per year over and above liability coverage. That may make you wonder when is it a good idea to stop buying full coverage. There is no set rule for dropping physical damage coverage on your policy, but there is a broad guideline. If the annual cost of your full coverage insurance is about 10% or more of the vehicle’s replacement cost less your deductible, then it might be time to consider dropping full coverage.
For example, let’s assume your vehicle’s settlement value is $9,000 and you have $1,000 deductibles. If your vehicle is destroyed, the most your company will settle for is $8,000 after paying the physical damage deductible. If it’s costing you more than $800 a year for full coverage, then you may need to consider dropping full coverage.
There are some situations where only buying liability is not advised. If you still have a loan on your vehicle, you have to maintain full coverage to protect the lienholder’s interest. Also, if your finances do not allow you to purchase a different vehicle if your current one is in an accident, you should not remove full coverage.
Drive safe and save
In a perfect world, the ideal way to maintain the most affordable insurance prices in Louisiana for a Versa is to be a safe driver and not have accidents or get tickets. The diagram below illustrates how speeding tickets and at-fault fender-benders drive up auto insurance costs for different age categories. The prices are based on a single female driver, comp and collision included, $100 deductibles, and no policy discounts are applied.
In the example above, the average cost of auto insurance per year with no violations or accidents is $3,424. Add in two speeding tickets and the average cost increases to $4,631, an increase of $1,207 each year. Now include two accidents along with the two speeding tickets and the yearly cost of insurance for a Nissan Versa goes up to an average of $8,736. That’s an increase of $5,313, or $443 per month, just for not keeping your driving record clean!
The diagram below shows how choosing a deductible can raise or lower insurance costs when trying to find cheap insurance for a Nissan Versa. The prices are based on a married female driver, comprehensive and collision coverage, and no discounts are applied.
A 30-year-old driver could lower their policy premium by $558 a year by changing their physical damage coverage from a $100 deductible up to a $500 deductible, or save $832 by changing to a $1,000 deductible. Even younger insureds, like the age 20 example, could shave as much as $1,180 or even more by using higher deductibles when buying full coverage. When choosing a higher deductible, it will be required to have enough spare savings to be able to pay the extra out-of-pocket expense, which is the main drawback of higher deductibles.