The car, truck, or SUV on the policy is a large factor that determines if you can find the best auto insurance for low mileage drivers. Vehicles with lower acceleration and performance, advanced safety features, or a positive history of liability claims will cost quite a bit less to insure than fast, unsafe models.
The table below shows insurance costs for a number of the more affordable vehicles to buy coverage for.
|Vehicle||Estimated Cost for Full Coverage|
|Hyundai Elantra GLS Touring Station Wagon||$2,256|
|Honda CR-V LX 2WD||$2,551|
|Toyota Tacoma 2WD||$2,625|
|Ford Edge SEL AWD||$2,632|
|Jeep Grand Cherokee Laredo 2WD||$2,676|
|Volkswagen Jetta LE 4-Dr Sedan||$2,681|
|Ford Escape Limited 4WD||$2,690|
|Jeep Wrangler Sahara 4WD 2-Dr||$2,876|
|Ford F-150 STX Regular Cab 4WD||$2,883|
|Ford Explorer Eddie Bauer 2WD||$2,876|
|Ford F-350 XL Crew Cab 2WD||$2,920|
|Dodge Grand Caravan Hero||$2,930|
|Hyundai Sonata SE 4-Dr Sedan||$3,005|
|GMC Sierra 2500HD SLT Extended Cab 4WD||$3,015|
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Premium data assumes single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Louisiana minimum liability limits. Discounts applied include multi-policy, homeowner, claim-free, safe-driver, and multi-vehicle. Premium amounts do not factor in vehicle location which can decrease or increase coverage rates noticeably.
Based upon the rates shown, you can see that vehicles like the Hyundai Elantra, Toyota Prius, Honda CR-V, and Toyota Tacoma should be a few of the cheaper vehicles to insure for infrequent drivers.
Deciphering which companies quote the cheapest insurance rates for low mileage drivers will take a little more sweat than just getting one or two price quotes. Each auto insurance company has a different formula to establish rates, so we’ll go over the insurance companies that tend to be cheaper in New Orleans, LA.
Find Cheaper Car Insurance in Louisiana
|Rank||Company||Cost Per Year|
|6||Southern Farm Bureau||$2,271|
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USAA generally has some of the lowest car insurance rates in New Orleans at around $1,642 a year. MetLife, GEICO, Progressive, and Safeway would also be considered some of the lowest-priced New Orleans, LA car insurance companies.
In this example, if you currently have coverage with Progressive and switched to USAA, you could see yearly savings of in the neighborhood of $304. Drivers with Safeway could save as much as $490 a year, and Southern Farm Bureau insureds might reduce rates by $629 a year.
To compare your rates to other Louisiana insurance companies, click here to get quotes or visit any of the low-priced companies below.
These premiums are averaged across all types of drivers and the different vehicles they drive and are not factoring in an exact zip code location for low mileage drivers. So the company that has the cheapest price for you may not even be in the list above. That illustrates why you need to get quotes using your own specific driver and vehicle information.
Illustration showing the impact of accidents and violations
In a perfect world, the ideal way to obtain good insurance prices in Louisiana for infrequent drivers is to drive cautiously and avoid tickets and accidents. The information below illustrates how traffic citations and fender-benders can impact car insurance rates for different ages of insureds. The costs are based on a married female driver, comp and collision included, $500 deductibles, and no discounts are applied.
In the example above, the average cost of car insurance per year with no accidents and a clean driving record is $2,270. Get one speeding ticket and the average cost swells to $2,649, an increase of $379 each year. Now add two accidents along with the one speeding ticket and the yearly cost of insurance for low mileage drivers goes up to an average of $6,039. That’s an increase of $3,769, or $314 per month, just for not driving safely!
Does it make sense to buy full coverage?
Finding cheaper insurance is probably important to most drivers, and one of the easiest ways to lower the cost of insurance for low mileage drivers is to not buy comprehensive and collision coverage. The illustration below compares auto insurance rates with liability coverage only compared to full coverage. Data assumes no claims or driving violations, $500 deductibles, single status, and no policy discounts are applied.
Averaged out for all age groups, comprehensive and collision coverage on your policy costs an extra $2,912 per year more than just buying liability insurance. Many of you may wonder if physical damage coverage is worth the money. There isn’t a written rule to delete physical damage insurance, but there is a guideline you can consider. If the annual cost of having full coverage is more than about 10% of the replacement cost minus the deductible, then you may need to consider dropping full coverage.
For example, let’s assume your vehicle’s settlement value is $6,000 and you have $1,000 policy deductibles. If your vehicle is damaged in an accident, the most you would receive is $5,000 after paying your policy deductible. If you are paying more than $500 annually for full coverage, then you might want to think about dropping full coverage.
How to find cheaper insurance for low mileage drivers
It is possible to find better rates, and here are some of the recommended thrifty solutions that can help New Orleans drivers get cheap car insurance.
- Drive safely
- Clean up your credit
- Buy safe vehicles
- Being accident-free can lower rates significantly
- Higher physical damage deductibles lower rates
- Compare price quotes at least once a year
The last idea is very necessary, as was discussed in the prior article. Prices vary greatly, so don’t hesitate to buy a policy from a new company if a more affordable price is available. Loyalty to a specific company is fine, but we do not recommend it if that devotion results in you overpaying hundreds of dollars year after year. In less than five minutes you could shop around and find cheaper car insurance for low mileage drivers in New Orleans.
The New Orleans car insurance agencies listed below are a good start to help you decide which coverage fits your budget, as some people prefer to get some help when comparing insurance rates for low mileage drivers. It’s not always simple to find the cheapest rates, so agents can give satisfaction knowing you have adequate protection in the event of a claim. To locate a New Orleans auto insurance agent nearest to you, click the button link following the list or click here to compare price quotes.
Ed Buckley – State Farm Insurance Agent
4822 Prytania St – New Orleans, LA 70115 – (504) 891-2886
Allstate Insurance: Aaron Gable
2073 Caton St – New Orleans, LA 70122 – (504) 283-0034
Martin Insurance Agency, Inc
4700 Orleans Ave – New Orleans, LA 70119 – (504) 486-6133
Whitney Insurance Agency
650 Poydras St Suite 1500 – New Orleans, LA 70130 – (504) 581-5353
Mid-City Auto Title and Insurance
3328 Bienville St # A – New Orleans, LA 70119 – (504) 827-1845