Cheapest and Best Car Insurance Companies in Shreveport, LA
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By, Content Director
Drivers in Shreveport will find the most cost-effective rates for both full and minimum coverage car insurance with Louisiana Farm Bureau. This insurer also provides the most budget-friendly rates for drivers with speeding tickets and at-fault accidents. State Farm is the most affordable for drivers with DUIs and teen drivers, while USAA is the cheapest for military families.
MoneyGeek ranks State Farm as the best overall insurer in Shreveport and the best for customer service, while GEICO ranks as the best cheap car insurance company.
Cheapest and Best Car Insurance in Shreveport, LA
Cheapest Minimum Liability Car Insurance in Shreveport
The most affordable auto insurance companies for minimum coverage policies in Shreveport are:
- Louisiana Farm Bureau: $513 per year
- GEICO: $517 per year
Allstate has the most costly car insurance policies, with an average of $1,130 per year for minimum coverage.
On a statewide basis, Louisiana Farm Bureau is also the cheapest insurer in Louisiana, with annual premiums of $478 as of October 2022. This makes Shreveport more expensive than the state as a whole when it comes to car insurance.
In Louisiana, state law requires minimum coverage insurance to cover both bodily injury and personal property damage liability. The coverage amounts are as follows:
- $15,000 bodily injury liability per person
- $30,000 bodily injury liability per accident
- $25,000 property damage liability per accident
If you are responsible for an accident and have liability-only coverage of $15,000 per person and $30,000 per accident for bodily injuries, your insurance company will only cover medical costs up to these limits. This means that any additional costs for third-party injuries will come out of your pocket.
Cheapest Full Coverage Car Insurance in Shreveport
The least expensive auto insurance companies for full coverage insurance plans in Shreveport are:
- Louisiana Farm Bureau: $1,084 per year
- State Farm: $1,234 per year
In Shreveport, Allstate is the priciest provider of full coverage insurance, charging $3,266 per year.
Zooming out, the most affordable option for full coverage car insurance in Louisiana is Louisiana Farm Bureau, which averages a rate of $1,015 annually as of October 2022. Buying full coverage insurance from Louisiana Farm Bureau is slightly more costly in Shreveport than in other parts of the state.
A policy that provides full coverage increases liability-only insurance limits and includes comprehensive and collision insurance.
- Collision Insurance: Covers damage to your car from colliding with another vehicle or object, such as a tree or guardrail.
- Comprehensive Insurance: Covers damage to your car from non-collision incidents, such as vandalism, theft, fire, flooding, hail or falling objects.
A full coverage policy may not be cost-effective for older vehicles, as the extra expense isn’t worth it for low-value cars.
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Cheapest Car Insurance in Shreveport After a Driving Offense
Drivers with violations can find the most affordable policies with the following insurers:
- Speeding ticket: Louisiana Farm Bureau ($1,262 per year)
- At-fault accident: Louisiana Farm Bureau ($1,416 per year)
- DUI: State Farm ($1,406 per year)
After a speeding ticket, accident or DUI, Allstate's annual rates ($3,635, $3,978 and $4,050, respectively) are likely to be the highest. Violations can cause car insurance premiums to increase, so even the cheapest rates will likely be much more expensive after an offense.
Be prepared for premiums to increase depending on the severity of your driving violation. For instance, Shreveport drivers with a DUI will pay around $144 more for the cheapest car insurance than those with speeding tickets. Nonetheless, it is possible to get cheap car insurance with a bad driving record if you shop around and compare rates.
Cheapest Car Insurance in Shreveport for Teens and Their Families
The cheapest auto insurers for 16-year-old teenage drivers on a family policy are:
- State Farm: $5,210 per year for teen boys; $4,185 per year for teen girls
- GEICO: $6,327 per year for teen boys; $5,876 per year for teen girls
Allstate is the most expensive car insurance company for teens, with families paying an annual rate of $8,717 for boys and $7,671 for girls. Insurers typically consider teen boys to be higher-risk drivers and charge them higher rates. For instance, State Farm charges teen boys $1,027 per year more than teen girls.
Adding a teen to an existing family auto insurance policy is an economical choice, as car insurance rates for teens are substantially higher if they purchase their own policy. In Shreveport, a teen boy buying an individual policy would pay an extra $4,767 annually compared to a family policy. Families can save a great deal of money by shopping around to find the most affordable auto insurance for teens.
Cheapest Car Insurance in Shreveport for Military Drivers
For military personnel, veterans and their families in Shreveport, the cheapest auto insurance providers are:
- USAA: $969 per year
- Southern Farm Bureau: $1,084 per year
The rates above are for full coverage auto insurance policies. At $437 per year for minimum coverage, USAA also offers the cheapest car insurance for military drivers, while Southern Farm Bureau offers the second-cheapest rate at $513 per year.
How to Compare Cheap Shreveport Car Insurance Quotes Online
Comparing car insurance quotes online can be a time-consuming task, requiring you to provide personal information and spend up to 15 minutes getting a quote from a single company. Fortunately, MoneyGeek's car insurance calculator can quickly give you estimates on your rates with different companies based on your age, vehicle type, driving record and the level of coverage you want.
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See how the Average Annual Auto Insurance Rates vary with the options chosen.
Best Car Insurance in Shreveport: Summary
MoneyGeek has identified the best car insurance companies in Shreveport, Louisiana, based on the value you place on service, affordability, coverage and other factors.
- Best overall: State Farm (MoneyGeek score 75 out of 100)
- Best for service: State Farm (MoneyGeek score 58 out of 100)
- Best cheap: GEICO (MoneyGeek score 77 out of 100)
MoneyGeek scores for each company can vary from category to category, depending on how different factors are weighted.
State Farm is the top car insurance provider in Shreveport and statewide. USAA is the best option for military personnel in Shreveport looking for car insurance, as it received a MoneyGeek score of 85 out of 100.
Best Overall Car Insurance in Shreveport
MoneyGeek data shows that the following companies offer the best car insurance in Shreveport
- State Farm: MoneyGeek score 74 out of 100 ($1,234 per year)
- GEICO: MoneyGeek score 70 out of 100 ($1,428 per year)
State Farm earned the highest overall MoneyGeek score for its combination of affordability and customer satisfaction. If you are a member of a military family, USAA is an excellent choice for auto insurance, as it earned a MoneyGeek score of 85 out of 100 and has an average annual premium of $969.
How was this MoneyGeek score calculated?
Excellent satisfaction score
Affordable full coverage policies averaging $1,234
Mediocre claims management reputation
Very few add-on coverages available
In Shreveport, State Farm is an excellent choice for auto insurance. Its premiums are affordable, its customer service is exceptional and there are many discounts available. Although the company offers limited coverage options, the ones they provide are beneficial to a wide variety of Shreveport drivers.
For instance, adding roadside assistance coverage includes towing, mechanical labor, delivery of items (such as a battery, fuel, tire or oil) and locksmith labor for up to one hour. This coverage can be highly valuable if your vehicle is stranded on the road.
State Farm also offers rental car and travel reimbursement coverage. This add-on pays for car rentals up to your chosen limits, travel expenses up to $500 and deductible repayment of up to $500 if you cause an accident in your rental car.
Best Car Insurance in Shreveport for Customer Service
Without taking cost into consideration, the top car insurance companies in Shreveport for customer service are:
- State Farm: MoneyGeek score 58 out of 100 ($1,234 per year)
- GEICO: MoneyGeek score 57 out of 100 ($1,428 per year)
State Farm earned high scores for customer satisfaction, making it a great choice for drivers seeking outstanding service. In addition, State Farm has relatively cheap premiums, so you don’t need to pay a high price for the best service.
How was this MoneyGeek score calculated?
Excellent customer service
Offers many discounts
Limited coverage options
Unimpressive claims management reputation
State Farm is highly rated for its customer service, based on J.D. Power studies and the National Association of Insurance Commissioners (NAIC) customer complaint index. Also, even though we excluded affordability from this part of our analysis, State Farm offers some of the cheapest policies in Shreveport.
However, State Farm does have a couple of shortcomings that hold it back a bit. First off, it lacks many common coverages provided by other insurers, like accident forgiveness, deductible modification, gap insurance and new car replacement coverage.
Additionally, a few insurers have better claims management reputations than State Farm, including Progressive and GEICO. Still, considering its outstanding customer service, we still think State Farm earns the top spot in this category.
Best Cheap Car Insurance in Shreveport
Based on our analysis of affordability and quality of service for policies that fulfill Louisiana's minimum coverage standards, the best insurers in Shreveport are:
- GEICO: MoneyGeek score 77 out of 100 ($517 per year)
- State Farm: MoneyGeek score 77 out of 100 ($524 per year)
Minimum coverage policies may have the lowest premiums, but they provide very limited protection against liability costs and no coverage for any damage to your car after an accident.
How was this MoneyGeek score calculated?
Ranks #2 for affordability
Offers discounts for bundling, airbags and seatbelt use
Solid customer satisfaction score
No pay-in-full or paperless discounts
GEICO stands out by offering competitively priced premiums and a variety of discounts that help customers save money on their policies.
These discounts include emergency deployment coverage for military personnel on emergency assignments, good student discounts for high-achieving students and senior driver discounts for those aged 50 and above.
You can also get discounts for active or retired federal employees and safety feature discounts for those who install specific security systems in their vehicles. The insurer even offers affinity-based discounts for teachers and members of certain alum, fraternity/sorority or professional organizations.
GEICO's numerous discounts make it the go-to insurer for the best affordable auto insurance, even if it doesn’t have the absolute lowest rates for car insurance in Shreveport, Louisiana.
Average Cost of Car Insurance in Shreveport
Our data shows that the average cost of car insurance in Shreveport is $1,450 per year, which is $359 less than the average cost of car insurance in Louisiana ($1,809) and $185 more than the national average car insurance premium ($1,265) as of October 2022.
As this rate reflects full coverage with bodily injury liability of $100,000 per person and $300,000 per accident and property damage liability of $100,000 per accident, we can conclude that Louisiana has higher car insurance premiums than many other states. Insurers consider location as one of the factors when determining your quotes, but there are other factors that can affect the cost of auto insurance.
About Mark Fitzpatrick