Cheapest and Best Car Insurance in New Orleans, LA (July 2024)

New Orleans, Louisiana's most affordable car insurance varies by coverage and driver details. Louisiana Farm Bureau is the cheapest for minimum and full coverages. State Farm is the most cost-effective for families with teens, excels in customer service and is the best overall.

MoneyGeek found that Louisiana Farm Bureau offers New Orleans' cheapest car insurance.

• Louisiana Farm Bureau: $757 per year
• Progressive: $908 per year

Allstate offers the city's highest-priced minimum coverage policy at $1,996 annually. Choosing Louisiana Farm Bureau can save drivers $1,239 each year, so comparing quotes is crucial.

In New Orleans, the state law sets the minimum car insurance requirements:

• $15,000 bodily injury per person
  
• $30,000 bodily injury per accident
  
• $25,000 property damage per accident
  

For example, if your minimum coverage policy includes $15,000 for bodily injury per person, that's the most your insurer will pay for a person's claims in an accident. You'll need to cover any expenses beyond $15,000 out of pocket. Similarly, with a limit of $30,000 for bodily injury per accident, you'll also shoulder any costs exceeding this amount.

MoneyGeek found that Louisiana Farm Bureau is New Orleans' cheapest full coverage car insurance.

• Louisiana Farm Bureau: $1,526 per year
• GEICO: $2,886 per year

Allstate has the most expensive policy with an annual premium of $5,900 — $4,374 more than Louisiana Farm Bureau. This highlights the importance of comparing quotes. Full coverage is more costly than minimum coverage because it provides better protection.

A full coverage policy enhances protection with higher liability limits than minimum coverage: $100,000 for bodily injury per person, $300,000 for bodily injury per accident and $100,000 for property damage per accident.

Full coverage also includes these insurance types:

• Collision insurance covers vehicle repair costs after collisions, whether with another car or an object like a tree or light pole. It also covers rollover accidents and pothole damage.

• Comprehensive insurance provides financial protection from theft, weather damage, vandalism, fires, natural disasters and hitting animals like deer.

If you lease or finance a car, full coverage insurance is typically required. For new vehicles, full coverage provides financial protection for your investment. However, the additional protection may not justify higher be worth it for older vehicles. Finding the right amount of car insurance involves balancing coverage against premiums to prepare for unexpected expenses.

MoneyGeek found that Louisiana Farm Bureau offers the lowest rates in New Orleans across various driving offenses:

• Speeding Ticket: $1,766 per year
• At-Fault Accident: $1,979 per year
• DUI: $2,127 per year

After these offenses, the highest rates are from Allstate, with differences in annual premiums. For instance, there's a $361 cost difference between policies for speeding tickets and those for DUI violations, highlighting how offense severity impacts car insurance rates.

Insurance premiums with the severity of driving infractions because of their perceived higher risk. For instance, drivers with a speeding ticket face an average annual rate of $6,135, while those with a DUI offense see rates increase to an average of $7,157. With such large gaps, drivers with traffic violations should carefully compare quotes to find the most cost-efficient coverage.

MoneyGeek found that State Farm offers the cheapest car insurance for teens in New Orleans. Here are the lowest rates for families with two parents and a teenage driver:

• State Farm: $5,840 per year for female teens and $6,890 per year for male teens
• GEICO: $8,166 per year for female teens and $8,776 per year for male teens

Allstate charges the priciest teen family policies at $11,390 annually for females and $12,864 for males. Considering the higher risks associated with teenage drivers, the $5,550 difference between the cheapest and most expensive options highlights the need for comparison shopping.

Teens face the highest car insurance premiums of any age group due to their lack of driving experience and higher accident rates. Adding them to an existing family policy is much cheaper. On average, a teen driver in New Orleans pays about $17,273 per year for an individual policy compared to $9,323 when added to a family plan. Securing individual policies for teens is challenging due to their limited credit history and driving experience, leading to higher premiums or potential denial of coverage. Opting for joint coverage is financially wise for families, saving as much as $7,950 annually.

MoneyGeek found that Louisiana Farm Bureau offers the most affordable full coverage car insurance for military personnel in New Orleans.

• Louisiana Farm Bureau: $1,526 per year
• GEICO: $2,886 per year

USAA ranks second in affordability and offers specialized services tailored to the needs of active-duty military members.

Comparing rates helps you save on car insurance in New Orleans. However, it can take about 15 minutes per insurer and up to over an hour for three or more companies. MoneyGeek's car insurance calculator speeds up the process. Just enter your key details like age, driving history, credit rating and coverage preferences to get an estimate quickly.

Finding the right auto insurance depends on how you prioritize factors like service, cost and coverage. State Farm leads all categories with these MoneyGeek scores:

• Best overall: 79 out of 100
• Best for service: 77 out of 100
• Best cheap: 78 out of 100

State Farm is the top choice for overall value in New Orleans. Its reputation for service excellence and affordability makes it a preferred insurer for balanced service quality and competitive rates.

State Farm provides the best car insurance in New Orleans, according to MoneyGeek's analysis.

• State Farm: Score of 79 out of 100 ($3,064 per year)
• Progressive: Score of 67 out of 100 ($3,044 per year)

State Farm stands out due to its high satisfaction and affordability scores, which are the top contributors to its MoneyGeek score.

MoneyGeek found that State Farm is the best option in New Orleans for outstanding customer service in car insurance, regardless of cost.

• State Farm: MoneyGeek score of 77 out of 100 ($3,064 per year)
• Progressive: MoneyGeek score of 66 out of 100 ($3,044 per year)

State Farm leads with exceptional customer satisfaction and efficient claims handling, both key factors influencing its top MoneyGeek score. This makes it ideal for clients who value a responsive insurance provider.

MoneyGeek found that State Farm is the best option for affordable car insurance in New Orleans.

• State Farm: MoneyGeek score of 78 out of 100 ($1,213 per year)
• Progressive: MoneyGeek score of 77 out of 100 ($908 per year)

State Farm stands out due to its exceptional customer satisfaction and claims handling ratings. It balances cost effectiveness and quality service, offering policies that fit your budget and deliver satisfaction.

In New Orleans, car insurance costs average $3,407 annually, more expensive than the state average of $2,593 — a $814 difference. Louisiana's average exceeds the national average by $812.

Location largely affects insurance costs, with insurers factoring in claim frequency and risk. For instance, New Orleans' average annual premium is $1,328 more expensive than Shreveport's. Urban areas with higher traffic often face higher premiums, while less populated areas get lower rates due to lower traffic density.