The words “bargain” and “auto insurance” really don’t belong together, in particular when searching for the lowest insurance prices for high risk drivers. Because it’s not cheap, let’s lead off by showing you a few of the things that help determine auto insurance rates, and find out if you can cut the cost of the next policy you buy.
Finding dependable, low-priced auto insurance is difficult, and finding out which companies offer the best insurance rates for high risk drivers involves a bit more work. Every insurance provider has their own unique process for filing rates in each state, so we’ll go over the most affordable insurance companies in Louisiana.
Best Cheap Insurance Rates for Risky Drivers
|Rank||Company||Cost Per Year|
|6||Southern Farm Bureau||$2,181|
|View More Rates Go|
USAA offers some of the cheapest car insurance rates in New Orleans at around $1,626 per year. This is $788 less than the average rate paid by Louisiana drivers of $2,414. MetLife, Progressive, GEICO, and Safeway also are some of the lowest-priced New Orleans, LA insurance companies.
As shown in the table above, if you are insured with Safeway and switched to MetLife, you could realize an annual savings of around $300. Drivers with Southern Farm Bureau could save as much as $327 a year, and California Casualty policyholders might reduce prices by as much as $392 a year.
Understand that those policy rates are averaged across all ages of drivers and types of vehicles and and are not figured with a specific vehicle garaging location for high risk drivers. So the auto insurance company that is best suited for you may not even be in the top 12 companies in the list above. That point stresses why you need to get rate quotes from many companies using your own specific driver and vehicle information.
For high risk drivers, one of the big components that aid in calculating insurance cost is where you call home in New Orleans. Regions with larger populations or more claims tend to have more expensive car insurance rates, whereas areas with less crime or weather claims have the gratification of cheaper auto insurance rates.
The following table shows the most costly cities in Louisiana for high risk drivers to buy car insurance in. New Orleans is ranked #1 with an annual rate of $2,856 for the average insurance policy, which is about $238 each month.
|Rank||City||Average Per Year|
|Find Cheaper Rates Go|
Annual rates are comparative as the vehicle garaging location can raise or lower coverage rates noticeably.
The type of vehicle to be insured is one of the primary factors when shopping around for the lowest-priced insurance for high risk drivers. Vehicles with economical engines, advanced safety features, or a low likelihood of having liability claims will cost less to insure than high performance models.
The data below illustrates coverage rates for a number of the cheaper vehicles to insure.
|Make and Model||Estimated Cost for Full Coverage|
|Ford Escape XLT 4WD||$8,646|
|Honda CR-V EX-L 4WD||$8,915|
|Honda Odyssey LX||$9,568|
|Ford Explorer XLT 4WD||$9,666|
|Dodge Grand Caravan SE||$9,673|
|Jeep Wrangler Sport Islander Package 4WD 2-Dr||$9,844|
|Ford F-150 XL Regular Cab 4WD||$9,948|
|Toyota RAV4 4WD||$10,130|
|Toyota Tacoma Double Cab 4WD||$10,430|
|Hyundai Elantra Blue 4-Dr Sedan||$10,493|
|Chevrolet Impala LT||$10,539|
|Chevrolet Malibu LS||$10,548|
|Chevrolet Equinox LT 2WD||$10,539|
|Ford Edge Sport 2WD||$10,591|
|Volkswagen Jetta SEL 4-Dr Sedan||$10,689|
|Nissan Altima 3.5 SR 4-Dr Sedan||$10,697|
|Start Your Quote Go|
Above prices assume single male driver age 50, two speeding tickets, two at-fault accidents, $1,000 deductibles, and Louisiana minimum liability limits. Discounts applied include multi-vehicle, homeowner, and multi-policy. Price estimates do not factor in specific New Orleans, LA garaging location which can decrease or increase auto insurance rates noticeably.
Based upon the rates shown, vehicles like the Ford Escape, Honda CR-V, and Toyota Prius are likely to be the most economical vehicles to insure for high risk drivers. Prices will trend higher because there is more risk for high risk drivers, but in general those particular vehicles will have the lowest insurance prices possible.
Driving violations and accidents
The common sense way to find the best insurance premiums in New Orleans for high risk drivers is to drive safe and avoid tickets and accidents. The illustration below demonstrates how citations and at-fault claims influence premium costs for different ages of insureds. The costs are based on a single male driver, full coverage, $500 deductibles, and no other discounts are factored in.
In the chart above, the average cost of a car insurance policy in Louisiana per year with no violations or accidents is $2,182. Get one speeding ticket and the average cost surges to $2,460, an increase of $278 each year. Now get two accidents along with the one speeding ticket and the annual cost of insurance for high risk drivers jumps again to an average of $4,967. That’s an increase of $2,785, or $232 per month, just for not driving attentively!
The illustration below demonstrates how choosing different deductibles can influence annual premium costs when searching for cheap insurance for high risk drivers. The information is based on a married male driver, comp and collision included, and no discounts are factored in.
The data above shows that a 40-year-old driver could reduce rates by $440 a year by increasing from a $100 deductible up to a $500 deductible, or save $660 by using a $1,000 deductible. Even younger drivers, like the Age 20 category, could drop their prices up to $1,472 or more just by choosing higher deductibles. When using a larger deductible, it’s a good idea to have enough in a savings account to enable you to pay the extra out-of-pocket expense. That is the one drawback of using higher deductibles.
Here’s why you should compare rates often
Louisiana insurance rates are influenced by many factors which can substantially decrease or increase the cost of coverage. Simply turning a year older, becoming a homeowner, or getting a few speeding tickets can trigger price changes that can cause some rates to be cheaper than before.
In addition, auto insurance companies change premium rates as often as every quarter to help ensure profitability. An unexpected high level of claims can result in high rates, while a profitable period may produce cheaper New Orleans car insurance rates.
The graph below shows which companies have the cheapest car insurance in New Orleans, LA for a 30-year-old female driver with no accidents or violations, and a good credit rating. If we look at prices based on her current rating profile, USAA may offer the lowest car insurance rates in New Orleans at $2,839 per year. This is $425 more than the average premium paid by Louisiana drivers of $2,414. MetLife, GEICO, Progressive, and Safeway are also on the list of the most affordable New Orleans, LA auto insurance companies.
In this next rate comparison, we will give the driver in the first chart an accident surcharge, poor credit, and an imperfect driving record. Since each insurance company has a proprietary method to establish rates, analyzing rate quotes will most likely result in a completely different list of affordable New Orleans car insurance companies as shown below.
California Casualty now has the best car insurance rate in New Orleans, LA with State Farm, USAA, MetLife, and Safe Auto now rounding out the top five. This shows why New Orleans drivers need to compare as many rates as possible when trying to find the lowest insurance quotes for high risk drivers. Car insurance prices can be altered by many things and change substantially, so the best company the last time you shopped around may now cost much more than other companies.
How to find more affordable auto insurance for high risk drivers
The list below details many thrifty ideas that can help New Orleans drivers quote lower-cost car insurance.
- Drivers with good credit often pay less
- Drive safe vehicles
- Save money by obeying traffic laws and keeping a clean driving record
- Do not get into accidents
- Raise deductibles
- Comparison shop at least every other year
The last suggestion is extremely vital, as we noted in the prior article. Prices vary considerably, so don’t be afraid to switch carriers if a better rate can be found.
Many consumers stick with the same company and that’s fine, but is isn’t recommended if that devotion results in you overpaying several hundred dollars every year. It only take a few minutes to compare prices to find cheaper car insurance for high risk drivers in New Orleans.
The New Orleans, LA, insurance agents below can probably answer your questions and help you decide which coverage fits your budget, since many people would rather get some help when shopping for the best coverage for high risk drivers. It can be difficult to do it yourself, and a licensed agent can provide peace of mind knowing you have adequate protection in the event of a claim.
To locate a New Orleans car insurance agency using an interactive map, click the button after the list or click here to compare price quotes.
Reggie Glass – State Farm Insurance Agent
3800 Elysian Fields Ave – New Orleans, LA 70122 – (504) 944-4444
Allstate Insurance: Daniel Occhi
4006 Canal St – New Orleans, LA 70119 – (504) 517-9080
Allstate Insurance: Paul Scaffidi
720 Harrison Ave c – New Orleans, LA 70124 – (504) 822-8007
Garcia Insurance Services
3815 MacArthur Blvd – New Orleans, LA 70114 – (504) 875-4077