Best Rates for Kia Optima Insurance in New Orleans

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Insurance quote for Kia Optima in New OrleansThe preferred way to find low-cost prices for Kia Optima insurance is to compare prices once a year from different companies that insure vehicles in New Orleans.

First, take a little time to learn about what is in your policy and the factors you can control to prevent expensive coverage. Many things that drive up the price such as at-fault accidents and a less-than-favorable credit history can be remedied by making minor changes in your lifestyle.

Second, compare prices from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can only give rate quotes from one company like Progressive or Farmers Insurance, while independent agencies can provide price quotes from multiple companies.

Third, compare the price quotes to your existing rates to see if you can save by switching companies. If you find a lower rate quote and make a switch, ensure there is no coverage lapse between policies.

Fourth, provide written notification to your current company to cancel your current car insurance policy. Submit a down payment along with a completed application for the new policy. Don't forget to place your new proof of insurance certificate along with the vehicle's registration papers.

One key aspect when comparing rates is to use identical deductibles and limits on every quote request and and to analyze every insurance company. This ensures an accurate price comparison and the best rate selection.

A recent insurance study discovered that over 70% of consumers kept buying from the same company for more than four years, and approximately 40% of consumers have never shopped around. The average driver in Louisiana could pocket 35% a year by just shopping around, but they just don't understand how easy it is to shop their coverage around.

Companies offering Kia Optima insurance in Louisiana

The auto insurance companies shown below can provide price comparisons in New Orleans, LA. If you wish to find the cheapest auto insurance in New Orleans, LA, it's a good idea that you visit as many as you can to find the most competitive auto insurance rates.

Rates and statistics

The rate information displayed below covers detailed analysis of rate quotes for Kia Optima models. Being aware of how car insurance prices are determined can be valuable when making decisions when shopping your coverage around.

Kia Optima Insurance Rates in New Orleans, LA
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Optima LX $222 $380 $524 $32 $158 $1,316 $110
Optima EX $250 $448 $524 $32 $158 $1,412 $118
Optima SX $250 $448 $524 $32 $158 $1,412 $118
Get Your Own Custom Quote Go

Data based on married male driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Louisiana minimum liability limits. Discounts applied include multi-vehicle, claim-free, safe-driver, homeowner, and multi-policy. Rate information does not factor in vehicle garaging location which can raise or lower coverage prices greatly.

How high should deductibles be?

One of the more difficult decisions when buying car insurance is how high or low should comp and collision deductibles be. The data tables below show the differences in price when you choose different insurance deductibles. The first rate comparisons uses a $100 deductible for comp and collision and the second set of prices uses a $500 deductible.

Kia Optima insurance premium rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Optima LX $400 $722 $524 $32 $158 $1,861 $155
Optima EX $452 $850 $524 $32 $158 $2,041 $170
Optima SX $452 $850 $524 $32 $158 $2,041 $170
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Kia Optima insurance premium rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Optima LX $292 $488 $524 $32 $158 $1,494 $125
Optima EX $330 $574 $524 $32 $158 $1,618 $135
Optima SX $330 $574 $524 $32 $158 $1,618 $135
Get Your Own Custom Quote Go

Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and Louisiana minimum liability limits. Discounts applied include homeowner, safe-driver, multi-vehicle, multi-policy, and claim-free. Rate quotes do not factor in zip code location which can influence price quotes noticeably.

Based on this data, using a $100 deductible will cost you roughly $33 more each month or $396 each year averaged for all Optima models than requesting the higher $500 deductible. Since you would pay $400 more to file a claim with a $500 deductible as compared to a $100 deductible, if you normally average at least 12 months between claims, you would probably save some money if you elect the higher deductible.

Calculation for determining deductible levels

Average monthly premium for $100 deductibles: $165
Average monthly premium for $500 deductibles (subtract): - $132
Monthly savings from raising deductible: $33
Difference between deductibles ($500 - $100): $400
Divide difference by monthly savings: $400 / $33
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 12 months

One important caveat is that raising deductibles to save money means you will have to pay more when you have a comprehensive or collision claim. You must have enough money in the bank in the event you have to pay the deductible to have repairs made.

Kia Optima liability-only versus full coverage

The information below compares Kia Optima car insurance costs with full physical damage coverage and with liability coverage only. The data is based on no accidents or driving violations, $1,000 deductibles, drivers are single, and no discounts are applied to the premium.

When to stop buying comprehensive and collision coverage

There is no exact rule of when to stop paying for full coverage, but there is a general school of thought. 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 might consider buying liability only.

For example, let's say your Kia Optima replacement value is $4,000 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, the most you would get paid by your company is $3,000 after the policy deductible has been paid. If it's costing you more than $300 annually for comprehensive and collision coverage, then it may be the right time to buy liability only.

There are some conditions where eliminating full coverage is not advised. If you still have a lienholder on your title, you must maintain physical damage coverage as part of the loan conditions. Also, if you can't afford to buy a different vehicle in case of an accident, you should keep full coverage on your policy.

How do Insurance Providers Determine Kia Optima Insurance Premiums?

An important part of buying insurance is that you know the factors that come into play when calculating your insurance rates. When you know what positively or negatively influences your rates, this allows you to make educated decisions that could help you find lower rates.

  • Single drivers take more risk - Having a spouse may save some money compared to being single. Having a significant other means you're more mature than a single person and it's proven that drivers who are married are more cautious.
  • How your age affects premiums - More experienced drivers tend to be more responsible, file fewer claims, and get fewer tickets. Young drivers are proven to be inattentive when driving so insurance rates are higher.

    The data below assumes a single driver, full coverage with $1000 deductibles, and no discounts or violations.

  • Pay more if you have a long commute - Living in a rural area has it's advantages when it comes to insurance. Less people means fewer accidents as well as less vandalism and auto theft. People in densely populated areas regularly have much more traffic and much longer commute distances. Spending more time driving translates into higher accident risk.
  • Your job and insurance rates - Did you know your job can affect your rates? Careers such as fire fighters, business owners, and stock brokers have higher rates than the rest of us due to intense work-related stress and lots of time spent at work. On the other hand, jobs like scientists, engineers and performers pay lower than average rates.
  • Rates increase with driving citations - Your driving citation history has a big impact on rates. Attentive drivers receive lower rates than bad drivers. Even one ticket could increase your next policy renewal forty percent or more. Drivers who have gotten careless tickets like hit and run, DWI or reckless driving convictions might be required by their state to submit a SR-22 form with their state in order to keep their license.

    The information below highlights how traffic violations and at-fault collisions can impact Kia Optima insurance rates for each different age category. The data is based on a single male driver, comprehensive and collision coverage, $1,000 deductibles, and no other discounts are factored in.

  • Put fewer miles on your vehicle - The more you drive every year the more you will pay for insurance. Most insurance companies charge to insure your cars based upon how you use the vehicle. Autos that sit idle most of the time qualify for better rates than cars that get driven a lot. It's always a good idea to double check that your insurance declarations sheet is rated on the correct usage for each vehicle. Improper usage on your Optima is throwing money out the window.
  • Kia Optima claim statistics - Companies use statistical claims data as a tool for profitable underwriting. Vehicles that have a trend towards higher claim severity or frequency will have increased rates. The next table illustrates the actual insurance loss data for Kia Optima vehicles.

    For each policy coverage type, the claim probability for all vehicles, as a total average, is a value of 100. Values below 100 indicate better than average losses, while numbers above 100 show a trend for more claims or an increased chance of larger losses than average.

    Kia Optima Insurance Loss Statistics
    Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
    Kia Optima 115 101 107 133 142 120
    Kia Optima Hybrid 143 115 116 139 158 151
    BETTER
    AVERAGE
    WORSE

    Statistics from IIHS.org for 2013-2015 Model Years

Lower rates by qualifying for discounts

Insurance can cost an arm and a leg, but there are discounts available that can dramatically reduce your bill. Many of these discounts will be applied automatically when you complete an application, but a few must be specially asked for in order for you to get them.Save money with discounts

  • Active Military Service - Being on active deployment in the military could be rewarded with lower auto insurance rates.
  • Federal Employees - Having worked for a branch of the government could qualify for a slight premium decrease with some auto insurance companies.
  • College Student Discount - Any of your kids who are attending college and do not have a car may qualify for this discount.
  • Multi-Vehicle Discounts - Buying coverage for more than one vehicle with the same auto insurance company can get a discount on all vehicles.
  • Driver's Ed - Make teen driver coverage more affordable by requiring them to enroll in driver's education if it's offered in school.
  • Early Signing - A few auto insurance companies allow discounts for switching to them before your current Optima insurance policy expires. It could save around 10% when you buy New Orleans auto insurance online.
  • One Accident Forgiven - Not really a discount, but some insurance companies may permit one accident without getting socked with a rate hike with the catch being you have to be claim-free for a particular time prior to the accident.
  • Multiple Policy Discount - When you combine your home and auto insurance and place coverage with the same company you may save up to 20% off your total Optima insurance premium.

As a disclaimer on discounts, most discounts do not apply to the entire cost. The majority will only reduce specific coverage prices like liability and collision coverage. If you do the math and it seems like it's possible to get free car insurance, auto insurance companies aren't that generous.

The chart below illustrates the comparison of Kia Optima car insurance rates with and without discounts being applied to the rates. The data assumes a female driver, a clean driving record, no at-fault accidents, Louisiana state minimum liability limits, full coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, multi-car, multi-policy, homeowner, marriage, and safe-driver discounts applied.

Some of the insurance companies that possibly offer most of these discounts include:

If you need affordable Kia Optima insurance quotes, ask every company how many discounts you can get. All car insurance discounts might not be available to policyholders in New Orleans. To locate insurance companies that offer discounts in New Orleans, click this link.

Car insurance agents near you

Some consumers would prefer to talk to an insurance agent and there is nothing wrong with that. Most agents can help you choose the best coverages and help file insurance claims. A nice benefit of price shopping on the web is that you can obtain cheaper car insurance rates and still have a local agent.

Insurance agency in New OrleansOnce you complete this quick form, your insurance data is transmitted to insurance agents in New Orleans who want to provide quotes and help you find cheaper coverage. You won't even need to search for an agent as quotes are delivered to you. If you have a need to get a rate quote from a specific auto insurance provider, feel free to search and find their rate quote page to submit a rate quote request.

Picking the best insurer needs to be determined by more than just a cheap quote. The following questions are important to ask.

  • Does the company use OEM repair parts?
  • How much can you save by raising your physical damage deductibles?
  • Does the agency support the community they serve?
  • What is the agency's Better Business Bureau rating?
  • Will they make sure you get an adequate claim settlement?
  • Which family members are covered?

Quote. Compare. Save.

Budget-friendly auto insurance in New Orleans is attainable on the web in addition to local insurance agencies, so you should be comparing quotes from both to have the best rate selection. A few companies may not offer rate quotes online and most of the time these small, regional companies provide coverage only through independent insurance agents.

In this article, we covered some good ideas how you can get a better price on Kia Optima insurance in New Orleans. It's most important to understand that the more times you quote, the higher the chance of saving money. Consumers may even find the lowest premium rates are with a company that doesn't do a lot of advertising. They can often insure niche markets at a lower cost compared to the large companies like State Farm and Allstate.

When shopping online for auto insurance, make sure you don't reduce coverage to reduce premium. There are too many instances where an insured cut collision coverage only to discover later that the few dollars in savings costed them thousands. Your goal is to buy enough coverage at a price you can afford, but don't skip important coverages to save money.

More detailed auto insurance information can be read by following these links: