How Much Is Car Insurance in Louisiana? (October 2024)
Updated: October 3, 2024
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In Louisiana, the average annual cost of full coverage car insurance is $2,189, while the average cost of minimum coverage is $778.
To determine your car insurance cost, insurance providers consider various factors like age, coverage level, where you live, your driving record and your credit history. Remember that having good credit and a clean driving record can lead to more affordable rates.
LouisianaCar InsuranceCostsWhy Trust MoneyGeek? We analyzed data and quotes from Quadrant Information Services and the Louisiana Department of Insurance to get the most precise average costs for a variety of Louisiana drivers.
These rates reflect the average cost of car insurance in Louisiana as of October 2024.
The average cost of full coverage car insurance in Louisiana is $2,189 per year, or approximately $182 monthly. When comparing car insurance quotes, understanding the average costs can help you better assess whether you're receiving a fair deal from your insurer.
Below is a summary of Louisiana's average car insurance rates for full or minimum coverage policies.
| 100/300/100 Full Cov. w/$1,000 Ded. | $2,189 | $182 |
| 100/300/100 Liability Only | $1,325 | $110 |
| State Minimum Liability Only | $778 | $65 |
The cost of full coverage car insurance in Louisiana is around $2,189 per year, which is more expensive than the national average cost of $1,337 per year. Factors contributing to Louisiana's higher costs include its legal system allowing more lawsuits following car accidents, the high number of uninsured drivers, the frequency and cost of claims and severe weather conditions, which lead to more claims and higher costs for insurers.
Car insurance premiums can vary significantly from one company to another, even within the same state. In Louisiana, Louisiana Farm Bureau offers the cheapest full coverage option at $980 per year, while Allstate has the priciest average premium at $4,112 per year. Comparing quotes can help you find the cheapest car insurance in Louisiana, which can lead to savings on insurance costs.
| Louisiana Farm Bureau | $980 | $82 |
| GEICO | $1,804 | $150 |
| State Farm | $1,928 | $161 |
| Progressive | $1,977 | $165 |
| AAA | $2,337 | $195 |
| Allstate | $4,112 | $343 |
The cost of car insurance in Louisiana is also influenced by the level of coverage you select. While the monthly cost for minimum coverage stands at roughly $65, opting for full coverage with a $1,000 deductible can amount to about $182 monthly. Despite this higher cost, it's recommended to obtain a full coverage insurance for more comprehensive financial protection in the event of an accident.
Adding comprehensive and collision coverages to your policy will understandably increase your monthly premiums. However, selecting higher deductibles can offset this increase to an extent. It's important to remember that the deductible you choose applies to each comprehensive and collision claim individually.
| State Minimum Liability Only | $778 | $65 |
| 100/300/100 Liability Only | $1,325 | $110 |
| State Minimum Liability w/ Full Cov. w/$1,500 Ded. | $1,547 | $129 |
| State Minimum Liability w/ Full Cov. w/$1,000 Ded. | $1,643 | $137 |
| 300/500/300 Liability Only | $1,647 | $137 |
| State Minimum Liability w/ Full Cov. w/$500 Ded. | $1,808 | $151 |
| 100/300/100 Full Cov. w/$1,500 Ded. | $2,094 | $174 |
| 100/300/100 Full Cov. w/$1,000 Ded. | $2,189 | $182 |
| 100/300/1000,000 - 500 comp_coll | $2,355 | $196 |
| 300/500/300 Full Cov. w/$1,500 Ded. | $2,416 | $201 |
| 300/500/300 Full Cov. w/$1,000 Ded | $2,512 | $209 |
| 300/500/300 Full Cov. w/$500 Ded. | $2,677 | $223 |
In Louisiana, the minimum car insurance requirements include $15,000 for bodily injury per person, $30,000 for bodily injury per accident and $25,000 for property damage per accident.
$15,000 for bodily injury liability per person
In Louisiana, you are required to have at least $15,000 for bodily injury liability per person to cover expenses for injuries to others in an accident where you are at fault.
$30,000 for bodily injury liability per accident
Louisiana state minimum car insurance requires $30,000 for bodily injury liability per accident, providing coverage for all persons injured in one accident.
$25,000 for property damage liability per accident
Louisiana law mandates that drivers carry a minimum of $25,000 for property damage liability per accident to pay for damages to another person's property.
Your car insurance premiums are affected by which Louisiana city you live in. Full coverage in Shreveport costs around $1,450 per year, while it costs approximately $2,328 per year in New Orleans.
Car insurance rates in Louisiana vary due to factors like local traffic conditions, the probability of theft and weather risks in the area. Other key determinants include the driver's history and the city's legal insurance requirements.
| Baton Rouge | $1,958 | $852 |
| Lafayette | $1,645 | $725 |
| Metairie | $1,915 | $824 |
| New Orleans | $2,328 | $952 |
| Shreveport | $1,450 | $592 |
Age significantly influences car insurance costs in Louisiana. Young drivers, particularly those aged 22 to 29, can expect to pay the highest premiums, often averaging $2,650 annually or $221 monthly. As drivers age, premiums generally decrease, reaching more affordable rates for mature drivers in the 30 to 59 age group, with an average of $2,189 yearly or $182 per month. However, car insurance premiums increase again slightly for drivers 60 and over, to $2,359 annually or $197 monthly.
| 22-29 | $2,650 | $221 |
| 30-59 | $2,189 | $182 |
| 60 + | $2,359 | $197 |
Age and gender significantly impact car insurance rates in Louisiana, with 16-year-old male drivers experiencing the highest premiums. On average, adding a 16-year-old male to a family policy costs $7,393 per year, while opting for an individual policy raises the premium to $12,523. Teenagers under 18 cannot legally purchase car insurance without a guardian.
The average annual cost for full coverage car insurance for a 2012 model is $1,970, while the same coverage skyrockets to $2,368 for a 2022 model. This increase is due to the higher actual cash value of newer models, costlier repairs and the greater risk of theft associated with them.
Drivers with newer models should consider comprehensive and collision coverage. These coverages offer financial protection against various incidents, including accidents, theft and natural disasters.
| 2012 Vehicle | $1,970 | $164 |
| 2022 Vehicle | $2,368 | $197 |
Your vehicle's actual cash value (ACV) is the baseline insurers use to determine payout amounts for comprehensive or collision claims. The ACV represents your vehicle's market value, factoring in depreciation at the time of the damage or loss. If the cost to repair your vehicle exceeds the ACV, your insurer may deem it a total loss and compensate you based on the determined ACV, minus any deductible.
The average cost of car insurance in Louisiana can vary widely depending on your driving record. Here's what you might expect to pay for a full coverage policy:
Your driving violation can significantly affect the price of your car insurance. In Louisiana, the more serious the violation, the more you'll pay; this higher cost stays with you as long as the violation is on your record. For example, a DWI can remain on your driving record in Louisiana for up to ten years, potentially impacting your insurance rates, and minor violations like speeding tickets might not affect your premiums for as long.
You can look through the table below by coverage and age group to find out the average cost of car insurance in Louisiana for different driving histories.
| Clean | $2,189 | $182 |
| Ticket | $2,745 | $229 |
| At-fault Accident | $3,225 | $269 |
| DUI | $3,252 | $271 |
Louisiana drivers can expect their car insurance premiums to vary significantly based on their credit score, with average annual costs ranging from $1,597 for excellent credit to $2,993 for poor credit.
A good credit score is usually from 670 to 739. Higher scores indicate better credit decisions and can lead to more affordable insurance rates, while lower scores may result in higher premiums.
| Excellent | $1,597 | $133 |
| Good | $1,864 | $155 |
| Fair | $2,242 | $187 |
| Below Fair | $2,535 | $211 |
| Poor | $2,993 | $249 |
Driving in Louisiana can come with various insurance costs. Here are some factors that influence the average cost of car insurance in the Pelican State:
Remember, shopping around and comparing quotes can help you find the most affordable plan that meets your needs.
To secure affordable car insurance in Louisiana, compare quotes from multiple insurers, opt for a higher deductible and use all eligible discounts.
Shop Around
Comparing rates from different insurers can lead to finding the most affordable car insurance in Louisiana.
Maintain a Clean Driving Record
A clean driving record can significantly lower insurance costs. Avoid traffic violations and accidents to benefit from lower premiums.
Increase Deductibles
Opting for higher deductibles can reduce your monthly premiums. However, ensure you can afford the deductible in case of a claim.
Bundle Policies
Bundling car insurance with other policies like homeowners insurance can unlock discounts. Insurers often reward customers for purchasing multiple policies.
Seek Out Discounts
Insurance companies offer various discounts that can make coverage more affordable. Look for discounts such as multi-car, good student or safe driver.
Choose a Car That's Cheaper to Insure
Driving a car that's less expensive to insure can lead to savings. Research which vehicles have lower insurance costs in Louisiana.
Consider Usage-Based Insurance
If you're a low-mileage driver, usage-based insurance could offer significant savings. These programs base premiums on actual driving habits.
Understanding the average cost of car insurance in Louisiana is important for budgeting and financial planning. Get informed on the financial considerations of insuring your vehicle in the Pelican State.
The minimum car insurance requirements in Louisiana include bodily injury liability coverage of $15,000 per person and $30,000 per accident, plus property damage liability coverage of $25,000 per accident. These mandatory coverages help ensure that drivers can pay for damages or injuries they may cause to others in a vehicle accident.
In Louisiana, the average annual cost for full coverage car insurance is $2,189 or $182 per month. The annual cost for minimum coverage is around $778 or $65 per month.
The average cost of minimum coverage car insurance for a 22-year-old in Louisiana is $933 per year ($78 per month). A 100/300/100 liability-only policy costs around $1,578 per year ($132 per month). The average annual premium for full coverage with a $1,000 deductible is $2,650 ($221 per month).
Louisiana Farm Bureau and Progressive are the cheapest car insurance companies in Louisiana, offering the most affordable insurance in Louisiana. Their policies cost an average of $471 and $606 per year, respectively. for minimum coverage.
About Mark Fitzpatrick
Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.
Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.
