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.
Compare the Cheapest Car Insurance Quotes in Lafayette
The Cheapest and Best Car Insurance in Lafayette
The Cheapest Car Insurance Companies in Lafayette
Among the best car insurance companies in Lafayette, MoneyGeek found the most affordable full coverage policies are offered by:
- Southern Farm Bureau: $1,320 per year
- USAA: $1,351 per year (only available to present and former military members and their families)
Car insurance costs in Lafayette vary between insurers. AAA offers a policy with similar coverage for an average annual rate of $4,034. That’s more than triple Southern Farm Bureau’s typical policy price.
These car insurance prices in Lafayette are for a full coverage policy for a 40-year-old driver with liability insurance to cover third-party costs and comprehensive and collision insurance to cover the driver’s own expenses.
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Average Cost of Car Insurance in Lafayette
The typical driver pays an average rate of $2,229 per year for car insurance in Lafayette. Compared to 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.
The Best Car Insurance Companies in Lafayette
Excellent carriers don’t just offer affordable rates — they also provide quality service. MoneyGeek evaluated several providers and found that the companies offering the best car insurance in Lafayette are:
- GEICO: MoneyGeek score of 85 out of 100
- State Farm: MoneyGeek score of 82.5 out of 100
USAA scored highest but is only available to current and former military members and their families. Overall scores depend on several factors such as affordability, user satisfaction from J.D. Power’s survey results and financial stability.
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 quotes regularly, you might find yourself eligible for discounts or rebates, resulting in a lower premium.
Shopping around for car insurance in Lafayette could save you $909, which is enough to buy:
Cheapest Car Insurance in Lafayette by Coverage Amount
The amount of coverage you purchase has the most impact on car insurance premiums in Lafayette. If you buy a policy only meeting Louisiana’s minimum insurance requirements, it will cost $1,057 annually on average. In comparison, purchasing a full coverage policy with coverage limits of 100/300/100 costs roughly $2,229 per year. The average price difference between the two policy types is $1,172.
Louisiana Minimum Liability Requirements
- 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.
If you’re looking for affordable car insurance in Lafayette, buying a liability-only policy is the cheapest option. You can purchase a liability-only policy with 50/100/50 coverage from Southern Farm Bureau for an annual rate of $931.
50/100/50 coverage means you have protection for damages from bodily injuries up to $100,000 per accident, subject to a $50,000 limit per person. Property damage up to $50,000 is also covered. If you want protection for your own car in an at-fault accident, a full coverage policy is better. For an additional $171, Southern Farm Bureau offers full coverage with the same liability limits for an average of $1,102 per year.
Average Car Insurance Premiums: Liability-Only vs. Full Coverage
- CompanyState Minimumper year50 / 100 / 50per year
- 1.Southern Farm Bureau$640$931
- Company50 / 100 / 50per year100 / 300 / 100per year
- 1.Southern Farm Bureau$1,102$1,320
Cheapest Car Insurance in Lafayette if You Have Driving Violations
Having a clean driving record allows you to access cheaper car insurance in Lafayette than a driver with violations on their record. For instance, a Southern Farm Bureau policyholder in this city pays an average of $1,320 for auto insurance, while a driver with a speeding ticket pays roughly $163 more. If you have an at-fault accident, you can add about $347, while a DUI adds an average of $396.
- CompanySpeeding Ticketper yearAt-Fault Accidentper yearDUIper year
- 1.Southern Farm Bureau$1,483$1,667$1,716
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, while those in ZIP code 70508 have premiums averaging $2,238. That’s only an $18 difference.
- Zip CodeState Minimumper year
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.
Methodology and Assumptions
MoneyGeek’s average premium rates for Lafayette are based on 100/300/100 comprehensive collision coverage with a $1,000 deductible for a 40-year-old male driver. The average driver profiled drives a 2010 Toyota Camry LE and has no tickets or accidents on their record. Additional premiums are added based on coverage type, location and driving record. Learn more about MoneyGeek’s data and methodology here.
About the Author
- Insurance Information Institute. "What Determines the Price of an Auto Insurance Policy?." Accessed May 21, 2021.