How long have you put off shopping around for lower-priced auto insurance rates in New Orleans, LA? New Orleans buyers have options when searching for low-cost Land Rover LR2 insurance. They can either waste time struggling with agents getting price quotes or leverage the internet to compare rates.
There are more efficient ways to buy auto insurance so we’re going to tell you the best way to price shop coverage on a Land Rover and get the best price possible from both online companies and New Orleans agents.
Rates and detailed analysis
The rate information shown next outlines a range of insurance prices for Land Rover LR2 models. Having a better idea how rate quotes are determined can be useful when making smart choices when buying a policy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|LR2 HSE Luxury||$366||$574||$464||$28||$140||$1,572||$131|
|Get Your Own Custom Quote Go|
Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Louisiana minimum liability limits. Discounts applied include safe-driver, claim-free, multi-policy, multi-vehicle, and homeowner. Premium costs do not factor in New Orleans location which can affect price quotes noticeably.
Liability only or full coverage
The information below compares Land Rover LR2 yearly insurance costs with and without physical damage coverage. The information is based on a clean driving record, no claims, $1,000 deductibles, drivers are single, and no other discounts are factored in.
Should you buy full coverage or liability only?
There is no set rule that is best for determining when to drop full coverage on your policy, but there is a general guideline you can use. If the yearly cost of comp and collision coverage is about 10% or more of the replacement cost minus the deductible, then you may need to consider dropping full coverage.
For example, let’s pretend your Land Rover LR2 replacement value is $6,000 and you have $1,000 physical damage deductibles. If your vehicle is severely damaged, the most your company would pay you is $5,000 after paying your deductible. If you are paying more than $500 annually to have full coverage, then you may need to consider dropping full coverage.
There are some scenarios where dropping physical damage coverage is not a good idea. If you still owe a portion of the original loan, you are required to maintain full coverage to satisfy the loan requirements. Also, if you can’t afford to buy a different vehicle if your current one is totaled, you should maintain full coverage.
How to Lower Your Insurance Costs
An important part of buying insurance is that you know some of the factors that play a part in calculating the rates you pay for car insurance. If you have a feel for what influences your rates, this allows you to make educated decisions that could help you find lower premium levels. Lots of factors are considered when pricing auto insurance. Most are fairly basic such as your driving record, but others are more transparent such as your marital status or how safe your car is.
- Stress out and pay more – Jobs such as military generals, social workers, and accountants tend to pay the highest rates in part from intense work situations and long work days. On the other hand, careers such as professors, students and performers pay the least.
Older drivers are lower risk – More experienced drivers tend to be more responsible, are lower risk to insure, and usually have better credit. Drivers with little experience are statistically proven to be more careless when behind the wheel therefore car insurance rates are much higher.
The next chart is based on a single driver, full coverage with $1000 deductibles, and no discounts or violations.
- City traffic equals higher rates – Living in less populated areas can be a good thing when shopping for auto insurance. Fewer drivers and short commutes means less chance of accidents in addition to lower liability claims. Drivers who live in large Louisiana cities have to deal with more aggressive driving styles and much longer commute distances. More time behind the wheel means higher likelihood of an accident.
- High coverage deductibles reduce prices – Protection for physical damage, termed comprehensive and collision coverage on your policy, is used to repair damage to your Land Rover. Some examples of covered claims are colliding with a building, hitting a deer, and having your car stolen. Physical damage deductibles are how much you are required to pay before a claim is paid by your company. The more you choose to pay out-of-pocket, the lower your rates will be.
- Alarms and GPS tracking lowers premiums – Driving a car with anti-theft technology or alarm system can help bring down rates. Theft prevention features like vehicle immobilizer systems, OnStar, and tracking devices like LoJack all hinder car theft and help bring rates down.
Tickets drive up costs – Only having one citation can bump up the cost by as much as thirty percent. Attentive drivers pay lower auto insurance prices as compared to careless drivers. Drivers who have gotten careless violations like DUI or reckless driving may find they need to maintain a SR-22 to the state department of motor vehicles in order to legally drive.
The information below illustrates how speeding tickets and accident claims can affect Land Rover LR2 auto insurance costs for different age categories. The rates are based on a married male driver, comp and collision included, $1,000 deductibles, and no discounts are applied.
Land Rover LR2 statistical loss data – Insurance companies analyze claim trends for every vehicle to calculate a price that will offset any claims. Vehicles that historically have higher losses will cost more for coverage. The table below shows the compiled insurance loss statistics for Land Rover LR2 vehicles.
For each type of coverage, the statistical loss for all vehicles, regardless of make or model, is considered to be 100. Values that are 100 or less suggest losses that are better than average, while percentage values above 100 point to more frequent losses or a tendency for losses to be larger than average.
Land Rover LR2 Insurance Claim Statistics Vehicle Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Land Rover LR2 4dr 4WD 115 162 99BETTERAVERAGEWORSE
Empty fields indicate not enough data collected
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Don’t give up on affordable rates
You just learned a lot of ways to save on Land Rover LR2 insurance in New Orleans. The key concept to understand is the more price quotes you have, the better your comparison will be. You may even discover the lowest priced insurance comes from a small mutual company.
There are still a few companies who may not have rates over the internet and many times these smaller providers work with independent insurance agents. Budget-friendly insurance in New Orleans can be sourced online in addition to local insurance agencies, so you need to compare both to have the best selection.
Consumers switch companies for a number of reasons such as an unsatisfactory settlement offer, extreme rates for teen drivers, high prices or policy non-renewal. No matter why you want to switch, finding a great new company is not as difficult as it may seem.
Steps to buying lower priced Land Rover LR2 insurance in New Orleans
If you want to find the absolute lowest rates, then the best way to find cheaper Land Rover LR2 insurance in New Orleans is to regularly compare price quotes from insurance carriers who can sell car insurance in Louisiana.
Step 1: Get a basic knowledge of car insurance and the things you can control to prevent high rates. Many rating criteria that cause high rates such as traffic citations and a negative credit rating can be remedied by improving your driving habits or financial responsibility.
Step 2: Compare price quotes from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can give quotes from one company like GEICO or Farmers Insurance, while independent agencies can provide prices from multiple companies.
Step 3: Compare the new rate quotes to the price on your current policy and see if you can save money. If you find a better price and make a switch, make sure there is no coverage gap between policies.
The most important part of this process is to make sure you enter identical coverage information on each quote and and to get rate quotes from as many different companies as possible. This guarantees an apples-to-apples comparison and a thorough selection of prices.
Additional insurance information is located at these links:
- Teen Driver Licensing Information (iihs.org)
- Who Has Cheap New Orleans Car Insurance for a Ford Explorer? (FAQ)
- What Car Insurance is Cheapest for Drivers with a DUI in New Orleans? (FAQ)
- Who Has Affordable Car Insurance for Teenagers in New Orleans? (FAQ)
- How Much is Auto Insurance for Infrequent Drivers in New Orleans? (FAQ)
- How Much is Car Insurance for a Toyota Camry in New Orleans? (FAQ)
- Who Has Affordable New Orleans Auto Insurance for a Toyota 4Runner? (FAQ)
- Higher speed limits cause more fatalities (Insurance Institute for Highway Safety)
- Prom Night Tips for Teen Drivers (State Farm)