bestauto insuranceLafayetteCompare the Cheapest Car Insurance Quotes in Lafayette, LA
The best car insurance companies in Lafayette provide quality service at affordable rates. MoneyGeek analyzed policies with varying coverage limits and different driving histories to help you find the best rates. On average, car insurance in Lafayette costs $2,229 annually, which is lower than Louisiana’s average by 26.7%. Southern Farm Bureau offers the cheapest average policy at $1,320 per year.
REVIEW AUTO INSURANCE RATES
Ensure you're getting the best rate for your auto insurance. Compare quotes from the top insurance companies.
Advertising & Editorial DisclosureLast Updated: 1/6/2023
Edited By |
Kathryn Schroeder
Written By |
Mark Fitzpatrick
If you’re looking for auto insurance in Lafayette, Southern Farm Bureau is the best, widely available option. The insurer offers the cheapest full coverage insurance overall, the cheapest state minimum policies and the most affordable insurance for drivers with a speeding ticket. USAA is another affordable choice, but it is exclusively for members of the military and their families. State Farm scored highest in MoneyGeek’s evaluation of insurers that balance affordability with customer service.
bestauto insuranceLafayetteThe Cheapest and Best Car Insurance in Lafayette
Cheapest Overall - Southern Farm Bureau
Cheapest State Minimum - Southern Farm Bureau
Cheapest With a Driving Violation - Southern Farm Bureau
Best Overall - State Farm
Methodology
MoneyGeek scored auto insurance companies in Lafayette by considering industry-leading evaluations from J.D. Power, AM Best and the National Association of Insurance Commissioners (NAIC) alongside collected average rates.
The Cheapest Car Insurance Companies in Lafayette
The companies that offer the cheapest full coverage insurance in Lafayette are:
- Southern Farm Bureau: $1,320 per year
- GEICO: $1,673 per year
If you have served or are currently serving in the armed forces, USAA is the second-cheapest option for you at $1,351 per year. AAA has the most expensive quote in the city that is 205% (or $2,714) more than Southern Farm Bureau.
Full coverage policies typically come with comprehensive and collision insurance. The liability coverage you choose will influence your premium.
Cheapest Car Insurance in Lafayette
Full Coverage 100/300/100
- Company100/300/100per year
- 1.Southern Farm Bureau$1,320
- 2.$1,351
- 3.$1,673
- 4.$1,698
- 5.$1,817
MoneyGeek’s research is based on collecting full coverage policy rates for a 40-year-old male driver in Lafayette, as explained in our methodology.
Full coverage policies are expensive because they include comprehensive and collision insurance, which provides additional protection in case your car is damaged.
- Comprehensive insurance: pays for damage to your vehicle even when it is not involved in an accident but those caused by events like hail storms, fallen trees, vandalism and fire
- Collision insurance: pays for damages to your car in all collision scenarios, such as colliding with another vehicle or a stationary object like a pole or fence
If you have financed or leased your vehicle, your lender may require that you purchase comprehensive and collision insurance. However, if your car is an older model, you may opt out of these coverages and instead choose a state minimum policy or liability-only insurance to save on premiums.
Compare Car Insurance Rates in Lafayette
Ensure you're getting the best rate for your car insurance. Compare quotes from the top insurance companies.
Cheapest Car Insurance in Lafayette for Minimum Coverage
By law, drivers in Louisiana must have minimum liability insurance coverage of 15/30/25, which happens to be the most affordable option available. The cheapest car insurance in Lafayette for state minimum insurance policies is as follows:
- Southern Farm Bureau: $640 per year
- GEICO: $769 per year
At $642 per year, USAA offers the second most affordable policies for drivers; however, it’s only available to veterans and current members of the military. AAA is the most expensive insurer in the city, with a state minimum policy at an average of $1,786 per year. This is $1,146 more than Southern Farm Bureau for the same coverage.
Minimum coverage policies don’t cost as much as full coverage. Still, because of their low liability limits, you risk ending up being responsible for paying large amounts in the event of an accident. See how much higher liability limits will affect your annual premium in the table below.
Cheapest Minimum Liability Car Insurance in Lafayette
State Minimum
- CompanyState Minimumper year
- 1.Southern Farm Bureau$640
- 2.$642
- 3.$769
- 4.$776
- 5.$836
State minimum policies offered by insurers are designed to meet the minimum requirements as per state laws. In Louisiana, drivers must have a minimum of $30,000 in coverage for all individuals injured in an accident, with a $15,000 limit per person and a $25,000 limit for property damage. Remember that although liability-only is the cheapest form of insurance, the costs you have to pay out of pocket after an accident may be very high.
For instance, if you are in an at-fault accident where the other driver’s medical bills are $25,000, your insurance payout will cover only $15,000. You will have to pay the remaining $10,000 yourself.
Louisiana Minimum Liability Requirements
- ItemDescription
- Bodily Injury and Property Damage$15,000 per person, $30,000 per accident and $25,000 for property damage. A more protective level is 100/300/100.
Cheapest Car Insurance in Lafayette if You Have Driving Violations
If you have traffic violations on your record, such as speeding tickets, at-fault accidents or DUIs, your annual premium will likely increase. The companies that offer the best cheap car insurance for drivers with prior violations in Lafayette are:
- Cheapest after a ticket: Southern Farm Bureau, $1,483 per year
- Cheapest after an at-fault accident: Southern Farm Bureau, $1,667 per year
- Cheapest after a DUI: Southern Farm Bureau, $1,716 per year
You may be able to reduce your premiums by improving your driving record over time. Meanwhile, you can explore options from multiple providers to get the best quote for drivers with bad records.
Cheapest Car Insurance in Lafayette With a Violation
Speeding Ticket
- CompanySpeeding Ticketper year
- 1.Southern Farm Bureau$1,483
- 2.$1,697
- 3.$1,945
- 4.$2,024
- 5.$2,178
Average Cost of Car Insurance in Lafayette
Lafayette$2,229
Louisiana$3,041
U.S.$1,424
The typical driver pays an average rate of $2,229 per year for car insurance in Lafayette. Compared with Louisiana's average, which costs $3,041 annually, it’s 26.7% lower. The national average is lower than both Lafayette’s and Louisiana’s rates. The average rate of car insurance in Lafayette is 56.5% higher than the national average, which is $1,424 per year.
Personalized Quotes to Get You the Cheapest Car Insurance in Lafayette
Car insurance premiums depend on several factors that change over time, such as your marital status, age, credit standing or how far you drive each year. If you compare personalized car insurance quotes regularly, you might find yourself eligible for discounts or rebates, resulting in a lower premium.
Compare Car Insurance Rates in Lafayette
Ensure you're getting the best rate for your car insurance. Compare quotes from the top insurance companies.
The Best Car Insurance Companies in Lafayette
MoneyGeek determined the best auto insurance companies in Lafayette by examining average rates, claims ratings and customer satisfaction. Based on our analysis, the top-rated car insurance providers in Lafayette are:
- State Farm: MoneyGeek score of 87 out of 100
- GEICO: MoneyGeek score of 85 out of 100
USAA received an overall score of 95 out of 100, making it the best car insurance company in Lafayette for military personnel. It was excluded from our overall rankings because it only gives policies to active and retired military and their families.
1
State Farm
Score:87
State Farm earned high scores for affordability, claims and customer satisfaction, making it the best auto insurance company in Lafayette. Its full coverage policy for a 40-year-old driver has an average cost of $1,817 per year. State Farm offers add-on rideshare insurance.
More About State Farm
With State Farm, you can add rideshare insurance to supplement your coverage in Lafayette if you work for a ridesharing company. This relatively unique endorsement ensures that the medical payments coverage, emergency roadside assistance and rental car reimbursement in your auto policy remain in effect while working.
Aside from that, you can purchase roadside assistance and rental car and/or travel reimbursement as standalone coverage add-ons from State Farm.
Read MoneyGeek's State Farm auto Insurance Review2
GEICO
Score:85
GEICO received high ratings for affordability, claims and customer satisfaction. A full coverage policy in Lafayette for a 40-year-old driver costs an average of $1,673 per year, and policyholders can get mechanical breakdown insurance (MBI) as an added coverage.
More About GEICO
Unlike most companies, GEICO offers mechanical breakdown insurance for new or leased cars that are less than 15 months old and have less than 15,000 miles. This unique add-on coverage protects parts and systems that may not be part of a typical dealer extended warranty at a much cheaper price.
Additionally, GEICO offers drivers in Lafayette common add-on coverages like accident forgiveness, roadside assistance and rental car reimbursement.
Read MoneyGeek's GEICO auto Insurance Review3
Allstate
Score:79
4
Southern Farm Bureau
Score:70
5
MetLife
Score:59
6
Progressive
Score:50
7
AAA
Score:23
Average Cost of Car Insurance by Postal Code
Postal codes allow insurers to determine how risky your neighborhood is. Car insurance in Lafayette for areas where auto thefts or car accidents often happen may be more expensive. The same goes for areas that have higher occurrences of vandalism. You can check how car insurance rates in Louisiana vary depending on ZIP codes.
In Lafayette, however, the price difference between ZIP codes is insubstantial. Those residing in the 70506 area pay an average of $2,220 per year, whereas those in ZIP code 70508 have premiums averaging $2,238. That’s only an $18 difference.
- Zip CodeState Minimumper year
- 70506$2,220
- 70508$2,238
Factors That Impact Insurance Costs in Lafayette
In addition to individual driver needs and history, location-specific factors like the percentage of uninsured motorists and the rate of car thefts also contribute to car insurance rates in Lafayette. How Lafayette ranks compared to the 300 most populous cities in the United States can have a significant impact on premium costs.
About the Author
sources
- Insurance Information Institute. "What Determines the Price of an Auto Insurance Policy?." Accessed May 21, 2021.