Really, the only way to get affordable car insurance rates is to annually compare prices from different companies in New Orleans.
Step 1: Try to comprehend what is in your policy and the steps you can take to prevent high rates. Many rating criteria that are responsible for high rates like high-risk driving behaviors and a bad credit score can be amended by making lifestyle changes or driving safer.
Step 2: Quote rates from direct carriers, independent agents, and exclusive agents. Exclusive and direct companies can provide rates from a single company like Progressive and State Farm, while independent agents can provide price quotes for a wide range of companies.
Step 3: Compare the price quotes to your existing coverage and see if there is a cheaper rate. If you find a lower rate, make sure there is no coverage gap between policies.
Step 4: Give notification to your current company to cancel your existing policy and submit the completed application along with a down payment for your new coverage. Make sure you safely store the certificate verifying proof of insurance with the vehicle registration.
A key point to remember is that you use similar limits and deductibles on every quote request and and to analyze every insurance company. This guarantees the most accurate price comparison and the best price quote selection.
Unbelievably, nearly 70% of drivers have purchased from the same company for a minimum of four years, and almost half have never compared rates from other carriers. Most drivers in New Orleans can save as much as 35% each year, but they just assume it takes a lot of time to do a rate comparison.
If you are insured now or just want a better rate, use these money-saving tips to buy cheaper auto insurance and still get good coverage. Choosing the best rates in New Orleans is not rocket science. Smart shoppers just need to know the most effective way to compare price quotes on the web.
The companies shown below have been selected to offer quotes in New Orleans, LA. To find cheap car insurance in New Orleans, we suggest you visit two to three different companies to get the most competitive price.
Three main reasons to buy auto insurance
Even though New Orleans SQ5 insurance rates can get expensive, maintaining insurance serves several important purposes.
- Most states have minimum mandated liability insurance limits which means state laws require a minimum amount of liability coverage if you want to drive legally. In Louisiana these limits are 15/30/25 which means you must have $15,000 of bodily injury coverage per person, $30,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
- If your vehicle has a lienholder, most lenders will make it mandatory that you have insurance to ensure the loan is repaid in case of a total loss. If you do not pay your insurance premiums, the bank may buy a policy for your Audi at a much higher premium rate and make you pay for it.
- Auto insurance preserves your car and your assets. It will also provide coverage for medical transport and hospital expenses that are the result of an accident. Liability insurance, one of your policy coverages, also covers all legal expenses up to the policy limit if you cause an accident and are sued. If your vehicle suffers damage from an accident or hail, collision and comprehensive (also known as other-than-collision) coverage will pay to repair the damage minus the deductible amount.
The benefits of carrying adequate insurance are definitely more than the cost, particularly for liability claims. According to a survey of 1,000 drivers, the average driver is overpaying more than $865 each year so we recommend shopping around each time the policy renews to help ensure money is not being wasted.
Insurance coverage specifics
Knowing the specifics of insurance aids in choosing which coverages you need and proper limits and deductibles. Insurance terms can be impossible to understand and reading a policy is terribly boring. Listed below are the normal coverages found on most insurance policies.
Liability coverages – This protects you from damage or injury you incur to other people or property that is your fault. Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. You commonly see liability limits of 15/30/25 which means a $15,000 limit per person for injuries, a total of $30,000 of bodily injury coverage per accident, and $25,000 of coverage for damaged property. Alternatively, you may have a combined limit which provides one coverage limit without having the split limit caps.
Liability coverage protects against things like attorney fees, pain and suffering, structural damage, funeral expenses and medical expenses. How much liability should you purchase? That is a decision to put some thought into, but consider buying as much as you can afford. Louisiana requires minimum liability limits of 15/30/25 but you should consider buying better liability coverage.
The chart below demonstrates why buying minimum limits may not be enough coverage.
Med pay and Personal Injury Protection (PIP) – Medical payments and Personal Injury Protection insurance provide coverage for short-term medical expenses like prosthetic devices, EMT expenses, pain medications, doctor visits and rehabilitation expenses. They can be used in conjunction with a health insurance policy or if you are not covered by health insurance. Coverage applies to both the driver and occupants and will also cover being hit by a car walking across the street. PIP is not an option in every state and gives slightly broader coverage than med pay
Collision coverage – This will pay to fix damage to your SQ5 caused by collision with another vehicle or an object, but not an animal. A deductible applies and then insurance will cover the remainder.
Collision insurance covers claims such as scraping a guard rail, backing into a parked car and hitting a parking meter. This coverage can be expensive, so consider removing coverage from lower value vehicles. You can also raise the deductible on your SQ5 in order to get cheaper collision rates.
Comprehensive insurance – This coverage will pay to fix damage that is not covered by collision coverage. A deductible will apply and then insurance will cover the rest of the damage.
Comprehensive can pay for claims like vandalism, falling objects and fire damage. The maximum amount you’ll receive from a claim is the market value of your vehicle, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.
Uninsured/Underinsured Motorist (UM/UIM) – This coverage provides protection from other motorists when they either have no liability insurance or not enough. This coverage pays for injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.
Because many people only purchase the least amount of liability that is required (which is 15/30/25), it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage should not be overlooked. Most of the time the UM/UIM limits are similar to your liability insurance amounts.
Cheaper car insurance premiums are out there
While you’re price shopping online, it’s very important that you do not sacrifice coverage to reduce premiums. Too many times, consumers will sacrifice uninsured motorist or liability limits and found out when filing a claim that their decision to reduce coverage ended up costing them more. Your objective should be to buy a smart amount of coverage at an affordable rate, but don’t skip important coverages to save money.
Budget-conscious Audi SQ5 insurance is definitely available online and from local agencies, so you need to quote New Orleans car insurance with both to have the best selection. There are still a few companies who don’t offer rate quotes online and these regional insurance providers work with local independent agents.
For more information, feel free to browse the articles below:
- How to Avoid Buying a Flooded Car (Insurance Information Institute)
- Who Has the Cheapest New Orleans Car Insurance Rates for State Employees? (FAQ)
- Who Has Affordable New Orleans Auto Insurance Quotes for a Chevrolet Silverado? (FAQ)
- Who Has the Cheapest New Orleans Auto Insurance Quotes for Business Use? (FAQ)
- Who Has the Cheapest New Orleans Car Insurance Rates for Government Employees? (FAQ)
- How Much is Car Insurance for a Nissan Versa in New Orleans? (FAQ)
- Teen Driver Statistics (Insurance Information Institute)
- Safety Features for Your New Car (State Farm)
- Hybrid vehicles cost insurers more (Insurance Institute for Highway Safety)