Are you drained from sacrificing other expenses to pay high insurance rates every month? You are no different than many other Louisiana drivers.
Amazingly, a recent NerdWallet.com study showed that the vast majority of drivers kept their coverage with the same insurance company for at least four years, and about 40% of consumers have never even compared rates from other companies. Many drivers in Louisiana could pocket roughly 35% a year, but they don’t know the amount of savings they would get if they bought a different policy.
People have so many insurance companies to insure vehicles with, and though it is a good thing to have a selection, it makes it harder to compare rates and cut insurance costs.
Pricing the lowest cost insurance in New Orleans is not as difficult as people think. Practically every person who is overpaying for insurance will get a lower-priced policy. Although Louisiana car owners need to learn how the larger insurance companies calculate your policy premium and apply this information to your search.
Auto insurance coverages and their meanings
Understanding the coverages of your auto insurance policy can be of help when determining the right coverages and the correct deductibles and limits. The coverage terms in a policy can be ambiguous and nobody wants to actually read their policy. Shown next are the normal coverages offered by auto insurance companies.
Medical payments coverage and PIP
Medical payments and Personal Injury Protection insurance reimburse you for expenses such as rehabilitation expenses, nursing services, hospital visits and funeral costs. They are utilized in addition to your health insurance policy or if you do not have health coverage. Coverage applies to not only the driver but also the vehicle occupants as well as if you are hit as a while walking down the street. Personal Injury Protection is not an option in every state and gives slightly broader coverage than med pay
Uninsured/Underinsured Motorist coverage
Your UM/UIM coverage gives you protection when the “other guys” either have no liability insurance or not enough. It can pay for medical payments for you and your occupants and also any damage incurred to your Land Rover Range Rover.
Due to the fact that many Louisiana drivers have only the minimum liability required by law (Louisiana limits are 15/30/25), their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage is very important. Normally the UM/UIM limits do not exceed the liability coverage limits.
Liability car insurance
Liability insurance will cover damage or injury you incur to other’s property or people. Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. You might see values of 15/30/25 which stand for a $15,000 limit per person for injuries, a limit of $30,000 in injury protection per accident, and a total limit of $25,000 for damage to vehicles and property. Alternatively, you may have a combined single limit or CSL which limits claims to one amount and claims can be made without the split limit restrictions.
Liability insurance covers claims like bail bonds, court costs and medical expenses. How much coverage you buy is a decision to put some thought into, but buy as much as you can afford. Louisiana state law requires minimum liability limits of 15/30/25 but drivers should carry more liability than the minimum.
The next chart shows why buying low liability limits may not be high enough to cover claims.
This coverage will pay to fix damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive can pay for things such as falling objects, a tree branch falling on your vehicle and damage from getting keyed. The most you’ll receive from a claim is the actual cash value, so if the vehicle’s value is low it’s not worth carrying full coverage.
Coverage for collisions
Collision coverage pays for damage to your Range Rover resulting from a collision with a stationary object or other vehicle. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.
Collision insurance covers claims like rolling your car, scraping a guard rail, hitting a parking meter and colliding with another moving vehicle. This coverage can be expensive, so consider removing coverage from vehicles that are 8 years or older. You can also increase the deductible on your Range Rover to get cheaper collision coverage.
Compare but don’t skimp
A few companies may not provide the ability to get quotes online and these small, regional companies provide coverage only through local independent agencies. Affordable Land Rover Range Rover insurance in New Orleans can be found both online and with local New Orleans insurance agents, and you need to comparison shop both to have the best rate selection.
As you go through the steps to switch your coverage, it’s not a good idea to reduce needed coverages to save money. In too many instances, an insured dropped physical damage coverage only to discover later that saving that couple of dollars actually costed them tens of thousands. Your focus should be to purchase plenty of coverage for the lowest cost and still be able to protect your assets.
How to find affordable Land Rover Range Rover insurance in New Orleans
It takes a little time, but the best way to get cheaper Land Rover Range Rover insurance is to compare prices once a year from different companies who sell auto insurance in New Orleans. Price quotes can be compared by following these steps.
Step 1: Read about coverages and the things you can change to keep rates down. Many rating criteria that are responsible for high rates such as inattentive driving and a negative credit score can be improved by improving your driving habits or financial responsibility.
Step 2: Compare price quotes from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can give quotes from a single company like Progressive or Farmers Insurance, while agents who are independent can provide price quotes from multiple insurance companies.
Step 3: Compare the price quotes to the price on your current policy and determine if cheaper Range Rover coverage is available. If you find a lower rate quote and decide to switch, verify that coverage does not lapse between policies.
Step 4: Give proper notification to your current agent or company to cancel your current coverage. Submit payment and a signed application to the new company. Immediately upon receiving it, keep your new certificate of insurance with your registration paperwork.
A good piece of advice is to make sure you enter the same amount of coverage on each quote request and and to get quotes from as many companies as possible. Doing this helps ensure a fair rate comparison and the best rate selection.
More detailed insurance information is available in these articles:
- Side Impact Crash Tests (iihs.org)
- How Much are Auto Insurance Quotes for a Ford F-150 in New Orleans? (FAQ)
- Higher speed limits cause more fatalities (Insurance Institute for Highway Safety)
- Prom Night Tips for Teen Drivers (State Farm)