The vehicle needing coverage is probably the biggest factor that determines the availability of the lowest-priced auto insurance for active military. Vehicles with higher performance characteristics, a lack of modern safety features, or a history of substantial liability claims will cost significantly more to insure than safer, lower-performance models.
The next list presents coverage costs for the more affordable automobiles to insure.
| Vehicle Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Honda Accord EX 4-Dr Sedan | $2,168 |
| Honda CR-V LX 4WD | $2,374 |
| Ford Explorer XLT 4WD | $2,430 |
| Dodge Grand Caravan SE | $2,438 |
| Ford Edge Limited 2WD | $2,520 |
| Ford Escape Limited 4WD | $2,583 |
| Ford F-150 XLT Crew Cab 4WD | $2,619 |
| Toyota Prius | $2,636 |
| Honda Civic LX 4-Dr Sedan | $2,659 |
| Honda Odyssey LX | $2,699 |
| Toyota Corolla S | $2,709 |
| Kia Optima LX | $2,752 |
| Chevrolet Malibu LTZ | $2,759 |
| Toyota RAV4 Limited 2WD | $2,812 |
| Chevrolet Impala LS | $2,832 |
| Jeep Wrangler Unlimited Rubicon 4WD 4-Dr | $2,841 |
| Toyota Tacoma Double Cab TRD Sport Package 4WD | $2,865 |
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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 multi-policy, multi-vehicle, claim-free, homeowner, and safe-driver. Prices do not factor in specific location information which can increase or decrease auto insurance rates considerably.
Based upon these rates, we can presume that models like the Honda Accord, Honda CR-V, and Ford Explorer are going to be the most budget-friendly vehicles to insure for military personnel.
Deciphering which company quotes the lowest-priced auto insurance rates for active military will take a little more sweat in order to find coverage that fits your budget.
Every insurance company has a proprietary formula for determining prices, so we need to take a look at the overall cheapest auto insurance companies in New Orleans. It’s important to understand that New Orleans, LA auto insurance rates are based on many factors that will increase or decrease the policy premium. Improving your credit rating, buying a home instead of renting, or getting a ticket for careless driving may generate price changes resulting in some rates now being much cheaper than others.
Find Cheaper Auto Insurance for Military
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $1,642 |
| 2 | MetLife | $1,892 |
| 3 | GEICO | $1,965 |
| 4 | Progressive | $1,986 |
| 5 | Safeway | $2,132 |
| 6 | Southern Farm Bureau | $2,204 |
| 7 | California Casualty | $2,246 |
| 8 | State Farm | $2,455 |
| 9 | Safe Auto | $2,653 |
| 10 | Allstate | $3,065 |
| 11 | Encompass | $3,170 |
| 12 | Liberty Mutual | $3,645 |
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USAA generally has some of the best car insurance rates in New Orleans at around $1,642 each year. MetLife, GEICO, Progressive, and Safeway would also be considered some of the most economical New Orleans, LA auto insurance companies.
As depicted above, if you currently have a policy with MetLife and switched to USAA, you could earn savings of roughly $250. Policyholders with GEICO could save as much as $323 a year, and Progressive policyholders might reduce prices by as much as $344 a year.
To discover how much you can save, click here to start a quote or quote prices from the following companies.
These prices are averaged across all types of drivers and the different vehicles they drive and are not factoring in an exact zip code location for active military. So the auto insurance company that is most affordable for your situation may not even be in the top 12 companies shown above. That underscores the importance of why you need to get rate quotes using your own driver data and vehicle information.
The chart below illustrates how your deductible choice can affect insurance premiums when getting quotes for cheap insurance for active military. The rate quotes are based on a married female driver, full coverage, and no other discounts are factored in.
As shown above, a 50-year-old driver could lower their car insurance rates by $380 a year by increasing from a $100 deductible to a $500 deductible, or save $574 by changing to a $1,000 deductible. Even younger insureds, such as the 20-year-old example, can cut as much as $942 or more just by choosing higher deductibles.
When using a larger deductible, it is a good idea to have additional funds squirreled away to enable you to cover the extra out-of-pocket expense, which deters some drivers from choosing higher deductibles.
Liability only or full coverage
Saving money when shopping for auto insurance is probably important to the majority of people, and a good way to reduce the cost of insurance for active military is to not buy full coverage. The chart below shows the comparison of insurance premiums when comparing full coverage to liability only. The rates are based on no claims or driving citations, $100 deductibles, single status, and no discounts are factored in.
Averaged for all age groups, full coverage costs an extra $2,655 per year more than insuring for liability only. At some point, every insured wonders if paying for full coverage is a waste of money. There is no set guideline to stop buying physical damage coverage, but there is a guideline you can use. If the annual cost of comprehensive and collision coverage is more than about 10% of any settlement you would receive from your insurance company, then you may want to consider only buying liability coverage.
For example, let’s pretend your vehicle’s settlement value is $7,500 and you have $1,000 physical damage deductibles. If your vehicle is destroyed, the most you would receive is $6,500 after the policy deductible has been paid. If premium cost is more than $650 a year to have full coverage, then it could be time to drop full coverage.
Selecting a highly-rated company is difficult considering how many companies there are to choose from in New Orleans. The ranking data listed below could help you analyze which companies to look at when shopping insurance around for active military. These rankings include companies with a national presence, so companies that only write business in Louisiana or surrounding areas are not taken into consideration for these rankings.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| USAA | 83 | 99 | 100 | 91% | A++ | 94.1 |
| AAA Insurance | 91 | 95 | 92 | 90% | A | 93.3 |
| 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 |
| 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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Data Source: Insure.com Best Car Insurance Companies
If you have coverage questions and would like to get some help when shopping for cheaper insurance for military personnel, the agencies below can aid you in deciding which insurance coverage will be best for you.
To find a New Orleans insurance agency close to where you live, click the button link following the list or click here to compare price quotes now.
- Hartwig Moss Insurance Agency
2626 Canal St #3 – New Orleans, LA 70119 – (504) 525-9901 - Reggie Glass – State Farm Insurance Agent
3800 Elysian Fields Ave – New Orleans, LA 70122 – (504) 944-4444 - Chase Dardar – State Farm Insurance Agent
6301 S Claiborne Ave – New Orleans, LA 70125 – (504) 861-4529