Auto Insurance Rates for a Toyota Prius in New Orleans

Shockingly, the vast majority of drivers have been with the same company for a minimum of four years, and just short of a majority have never quoted car insurance rates at all. Many consumers in the U.S. could save up to $860 each year, but they don’t want to spend time to go online and compare rates.

The best way we recommend to find discount Toyota Prius insurance is to compare quotes annually from different companies in New Orleans. This can be done by following these guidelines.

1. Try to learn about individual coverages and the things you can control to prevent expensive coverage. Many things that result in higher rates such as high-risk driving behaviors and a less-than-favorable credit history can be amended by making small lifestyle or driving habit changes.
2. Request price quotes from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can only give rate quotes from one company like Progressive or State Farm, while independent agencies can provide price quotes from multiple sources.
3. Compare the new quotes to your current policy premium to see if a cheaper price is available in New Orleans. If you can save money and switch companies, make sure coverage is continuous and does not lapse.
4. Notify your company or agent to cancel the current policy. Submit a down payment and signed policy application to your new agent or company. Once the application is submitted, place the new proof of insurance paperwork with your registration paperwork.

A tip to remember is to make sure you’re comparing the same physical damage deductibles and liability limits on every quote and to quote with as many auto insurance providers as possible. Doing this enables a fair rate comparison and a thorough price selection.

To get inexpensive New Orleans car insurance quotes, there a variety of ways to compare rate quotes from different companies. One of the best ways to lower the rate you pay for Toyota Prius insurance is to jump online and get quotes.

Getting free quotes online is quite simple, and it makes it a waste of time to waste gas driving to and from local insurance agencies. Doing it all online eliminates this option unless you prefer the professional guidance that only an agent can give. It is possible to comparison shop online and still use a local agent.

When price shopping your coverage, having more price comparisons will enable you to find a lower rate than you’re paying now.

The companies shown below have been selected to offer quotes in Louisiana. To get cheap car insurance in LA, we recommend you compare several of them to find the most competitive auto insurance rates.

Lower-cost New Orleans insurance rates with discounts

Companies offering auto insurance don’t necessarily list all available discounts very clearly, so here is a list a few of the more well known and the more hidden insurance savings. If you’re not getting every credit you deserve, it’s possible you qualify for a lower rate.

• New Car Discount – Putting coverage on a new Prius can get you a discount compared to insuring an older model.
• Air Bags and Passive Restraints – Options like air bags or automatic seat belts may earn rate discounts of 20% or more.
• Smart Student Discounts – A discount for being a good student can earn a discount of 20% or more. You can use this discount normally up until you turn 25.
• New Orleans Homeowners Discount – Just owning your own home can save a few bucks because maintaining a house means you have a higher level of financial diligence.
• Early Payment Discounts – By paying your entire bill at once instead of making monthly payments you may have a lower total premium amount.
• Multiple Vehicles – Purchasing coverage when you have primary and secondary vehicles on one policy qualifies for this discount.
• Seat Belts Save more than Lives – Drivers who require all vehicle occupants to use their safety belts can save a little off the PIP or medical payment premium.
• Theft Deterrent System – Cars equipped with anti-theft or alarm systems have a lower chance of being stolen and qualify for as much as a 10% discount.
• Multi-line Discount – Larger insurance companies have better rates if you take out auto and life insurance together.

Discounts save money, but please remember that most of the big mark downs will not be given to the overall cost of the policy. Some only apply to the price of certain insurance coverages like liability and collision coverage. Even though it may seem like adding up those discounts means a free policy, it’s just not the way it works. Any amount of discount will lower the amount you pay for coverage.

The illustration below illustrates the difference between Toyota Prius insurance prices with and without policy discounts. The rates are based on a male driver, no claims, a clean driving record, Louisiana state minimum liability limits, comprehensive and collision coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, multi-policy, multi-car, claim-free, marriage, and homeowner discounts applied.

Companies and their offered discounts are shown below.

• Progressive has savings for continuous coverage, online quote discount, online signing, multi-policy, homeowner, and multi-vehicle.
• The Hartford may have discounts that include driver training, vehicle fuel type, good student, defensive driver, and anti-theft.
• Mercury Insurance offers discounts for type of vehicle, low natural disaster claims, accident-free, ease of repair, multi-car, professional/association, and multi-policy.
• GEICO has discounts for good student, defensive driver, anti-theft, multi-vehicle, seat belt use, and military active duty.
• AAA may include discounts for multi-policy, good student, pay-in-full, anti-theft, education and occupation, and multi-car.
• State Farm discounts include good student, safe vehicle, Steer Clear safe driver discount, multiple policy, accident-free, driver’s education, and good driver.

When comparing rates, check with every company to give you their best rates. Some discounts listed above may not apply to policies in every state. If you would like to choose from a list of insurance companies who offer cheap Toyota Prius insurance quotes in New Orleans, follow this link.

Insurance coverage analysis

The premium table displayed next covers detailed analysis of coverage prices for Toyota Prius models. Having insight into how insurance rates are determined is important for making informed coverage decisions.

Table data assumes single male driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Louisiana minimum liability limits. Discounts applied include homeowner, multi-policy, claim-free, multi-vehicle, and safe-driver. Information does not factor in New Orleans location which can change coverage rates considerably.

Rate comparison for different deductibles

One of the hardest decisions when shopping for auto insurance is which deductible level should you buy. The comparison tables below may aid in understanding the premium difference between high and low deductibles. The first rate table uses a $100 deductible for comp and collision and the second set of rates uses a $1,000 deductible.

Data variables include married male driver age 30, no speeding tickets, no at-fault accidents, and Louisiana minimum liability limits. Discounts applied include multi-policy, claim-free, safe-driver, homeowner, and multi-vehicle. Information does not factor in garaging location in New Orleans which can raise or lower coverage prices significantly.

Based on this data, using a $100 deductible will cost you roughly $48 more each month or $576 annually than requesting the higher $1,000 deductible. Due to the fact that you would have to pay $900 more if you turn in a claim with a $1,000 deductible as compared to a $100 deductible, if you go at a minimum 19 months between claim filings, you would come out ahead by going with a higher deductible. The illustration below shows an example of how you can come to your own conclusion.

The diagram below highlights how deductible selection and can raise or lower Toyota Prius insurance premiums for different ages of insureds. The rate quotes are based on a married male driver, comp and collision included, and no discounts are taken into consideration.

Toyota Prius full coverage rates compared to liability only

The diagram below compares Toyota Prius annual premium costs with full coverage compared to only the Louisiana minimum liability coverage. The premiums are based on no accidents or driving violations, $250 deductibles, single status, and no discounts are applied.

When to eliminate full coverage

There is no clear-cut formula to delete physical damage coverage, but there is a general guideline. If the yearly cost of full coverage is more than around 10% of the replacement cost minus the deductible, then it might be time to buy liability only.

For example, let’s assume your Toyota Prius replacement cost is $3,000 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, you would only receive $2,000 after you pay the deductible. If you are currently paying more than $200 a year for full coverage, then it might be time to buy liability only.

There are some circumstances where dropping physical damage coverage is not recommended. If you haven’t paid off your loan, you have to carry full coverage as part of the loan requirements. Also, if your finances do not allow you to purchase a different vehicle if your current one is damaged, you should not drop full coverage.