The Cheapest Car Insurance in Louisiana (April 2023)

The cheapest auto insurance provider in Louisiana for most drivers and those with a bad driving record, a speeding ticket or an at-fault accident is Louisiana Farm Bureau. State Farm is the cheapest for young adults, teens and drivers with sports cars. USAA are the cheapest for military members.

MoneyGeek also determined the best car insurance in Louisiana for affordability and service quality.

Our analysis of the cheapest car insurance policies that only meet the minimum state requirements indicates that the cheapest insurers in Louisiana are:

• Louisiana Farm Bureau: $478 per year
• State Farm: $496 per year

Allstate, which has an average annual cost of $1,160, is the priciest option for the minimum liability policy. Policies with the minimum state-required limits cover costs associated with third-party bodily injury and property damage.

The state minimum policy is the cheapest way to access car insurance in Louisiana, but it only covers injuries and property damage to third parties. If you wish to get coverage for your own car during an accident, comprehensive and collision (commonly known as full coverage) insurance may be more suitable.

In Louisiana, the cheapest providers of full coverage car insurance on average are:

• Louisiana Farm Bureau: $1,015 per year
• State Farm: $1,207 per year

If you are considering getting a policy from Allstate, know that it’s the most expensive, at an average of $3,443 per year.

Full coverage car insurance offers more protection in an accident than minimum coverage. Aside from standard liability insurance, you will get coverage for your vehicle and medical expenses, along with damage from theft, vandalism and other off-road accidents.

A full coverage policy offers higher limits but costs significantly more. For instance, a minimum state policy from Louisiana Farm Bureau will be $537 cheaper on average than comprehensive and collision coverage from the same provider.

MoneyGeek’s sample full coverage car insurance policy used in this study comprises liability protection with the following limits:

• $100,000 bodily injury liability per person
• $300,000 bodily injury liability per accident
• $100,000 property damage liability per accident

How much you pay for auto insurance will depend on how much car insurance you need. A policy with a lower limit, such as a minimum liability policy, will cost you less but provide limited protection. You may also save on costs by choosing an option with a higher deductible.

You can obtain a car insurance quote from most lenders online, and the process will typically take you a maximum of 15 minutes. Comparing quotes manually from multiple insurers can take a while, as you will need to provide personal details for each request.

Using MoneyGeek’s auto insurance calculator, you can quickly compare rates from various insurers across parameters that suit your profile. Such parameters include age, gender, driving history and the coverage amount.

MoneyGeek discovered that the cheapest car insurance companies in Louisiana for teens and their families are:

• State Farm: $4,750 per year for male teens and $3,847 per year for female teens
• GEICO: $5,417 per year for male teens and $5,032 per year for female teens

Allstate has the highest premium for teens and their families, costing $8,557 per year for families with male teens and $7,508 for those with female teens.

Due to the diminishing car insurance rates for teens as they age, there is a significant premium difference for 16- and 19-year-old drivers, with the latter paying the lowest. For 19-year-old male drivers in Louisiana, the car insurer offering the most affordable rate is State Farm ($3,656 per year).

Parents can save money on premiums by adding teens to their policies instead of purchasing separate individual policies. For example, an individual policy for a 16-year-old costs roughly $10,892 per year, whereas adding the same driver to the family’s policy costs an average of $6,125, showing a huge difference of around $4,767 per year.

Families with teen drivers can also reduce their premiums by leveraging discounts for young drivers. The cheapest insurers in Louisiana offer good student discounts, and most also provide distant student discounts. In addition, Allstate and State Farm have lower rates for young drivers who complete a driver education course.

Drivers in their 20s can find the cheapest auto insurance in Louisiana from the following carriers:

• State Farm: $1,535 per year
• Louisiana Farm Bureau: $1,554 per year

Allstate is the most costly insurance provider for young adults in Louisiana, with an average annual cost of $3,839. On average, drivers in their 20s pay $328 more for a State Farm auto insurance policy than middle-aged drivers pay for the same policy.

For seniors, you may consider the following companies for the cheapest full coverage car insurance in Louisiana:

• Louisiana Farm Bureau: $1,253 per year
• State Farm: $1,257 per year

The insurer with the highest full coverage policy cost is Allstate. Louisiana seniors will pay about $3,511 per year for a policy from this insurer.

Policy costs for senior drivers vary slightly from middle-aged drivers. In Louisiana, those in their 60s pay approximately $50 more per year than a 40-year-old for a full coverage policy from State Farm. Rates increase with age, and you are likely to pay higher premiums once you reach your 70s and 80s.

Some insurers in Louisiana offer discounts that can help senior drivers save on auto insurance. Specifically, GEICO and Allstate offer a senior driver discount, whereas State Farm and Progressive offer safe driving discounts. You may also secure the best rates by comparing quotes from multiple insurers.

Traffic violations like DUIs, at-fault accidents and speeding tickets may significantly increase your car insurance rates. You may consider taking a safe driver course or fixing errors on your record to keep your rates at a minimum.

Southern Farm Bureau has the cheapest coverage for drivers with speeding tickets and at-fault accidents. You will get the lowest rates from State Farm if you have a DUI.

The most affordable providers of full coverage auto insurance in Louisiana if you have a speeding ticket are:

• Louisiana Farm Bureau: $1,171 per year
• State Farm: $1,391 per year

Allstate provides the highest rates for drivers with speeding tickets at an average cost of $3,953 per year. Typically, rates spike after a speeding ticket, costing an average of $2,371 per year for a full coverage policy, $492 more than what drivers with a clean record pay for the same coverage.

MoneyGeek discovered that the lowest car insurance rates in Louisiana for drivers with at-fault accidents are from:

• Louisiana Farm Bureau: $1,312 per year
• State Farm: $1,511 per year

The most expensive insurer to consider for a policy if you have an at-fault accident is Allstate, costing about $4,321 per year. According to our findings, you pay an average of $928 more annually for a full coverage policy if you have an at-fault accident.

The cheapest full coverage car insurance companies in Louisiana if you have a DUI are:

• State Farm: $1,391 per year
• Louisiana Farm Bureau: $1,404 per year

Allstate is the most expensive insurer in the state for those with DUIs, with an average annual rate of $4,400. You will pay an average of $961 more than a driver with a clean record if you get a DUI.

The most affordable auto insurance providers in Louisiana for full coverage with a poor credit score are:

• Louisiana Farm Bureau: $1,820 per year
• GEICO: $2,565 per year

AAA has the highest coverage cost. Drivers with bad credit pay an average of $5,307 per year with this insurer. A good credit score, ideally above 750, can get you the lowest rates because insurers consider you a low-risk driver. A credit score below 580 can increase your full coverage car insurance rates by $1,527, on average, per year.

Most states, including Louisiana, allow insurance providers to determine auto insurance costs based on your credit score.

Insurers have determined that having a low credit score increases your probability of filing a claim. Therefore, they will charge higher premiums if you have poor credit.

You can reduce your premiums over time by improving your score. In the meantime, you can secure the cheapest car insurance policy by comparing quotes from different lenders and leveraging discounts that match your profile.

The top two companies offering the cheapest full coverage auto insurance in Louisiana for sports cars are:

• State Farm: $1,462 per year
• GEICO: $2,026 per year

With an average annual cost of $3,949, Allstate is the priciest.

Insurance rates for sports cars are typically higher than other cars due to the high cost of replacing a stolen or totaled vehicle. Louisiana’s full coverage car insurance costs an average of $541 more annually if you have a sports car.

MoneyGeek used a Ford Mustang to source sample quotes for sports cars from insurers in Louisiana. Depending on your car model, you will likely pay more or less than the cost estimates in this study. Electric, sports and luxury cars are usually more costly to insure than other models, although this is not true in all states. Several other factors also impact your rates.

For active duty and retired military veterans, MoneyGeek found that the cheapest auto insurance carrier in Louisiana is USAA. The insurer’s full coverage policies cost an average of $988 per year.

USAA’s policies are available in all states but are limited to military members and their families. The cheapest widely available insurer for Louisiana military drivers is Louisiana Farm Bureau.

Your auto insurance premium tends to vary depending on where you live. Drivers residing in areas with high theft, vandalism or accident rates are more likely to submit claims. Therefore, they usually pay higher premiums.

The city of Shreveport has the cheapest full coverage car insurance in Louisiana. The policy is from Louisiana Farm Bureau and costs approximately $1,438 annually.

New Orleans has the priciest policy, also from Louisiana Farm Bureau, costing $2,271 on average per year.

The following table compares rates across the cheapest insurers in Louisiana cities.

The state minimum car insurance policies in Louisiana comprise bodily injury liability and property damage liability. Insurers also offer medical payments coverage, uninsured/underinsured motorist coverage and personal injury protection, but these are not compulsory.

Louisiana’s car insurance policies must meet the minimum required limits by the state and include bodily injury liability and property damage liability protection. Purchasing the state minimum insurance policy is the most affordable option, but you will receive the least protection.

High-risk traffic violations, such as speeding tickets or DUIs, require you to get SR-22 insurance, which will be submitted to the state by your insurance provider. SR-22 insurance is more costly than standard insurance.

To ensure your policy meets your insurance needs adequately, we suggest at least $100,000 in bodily injury liability per person and $300,000 per accident, with $100,000 in property damage liability per accident.

If you finance your car, your lender may require comprehensive and collision insurance. You should also get full coverage if you have a valuable car, as this can save you a lot of repair and replacement costs in the event of an accident.

Comprehensive coverage usually covers the cost of damage from non-road accidents like vandalism and theft. Collision coverage pays for damage from hitting an object, such as another car or a building.

You need to carry a 15/30/25 minimum liability insurance policy in Louisiana. If you have the finances to compensate other drivers without relying on insurance, you can apply for a self-insurance certificate from the Office of Motor Vehicles.

The certificate serves in place of a standard policy, acting as proof of insurance. It is usually valid for a year, and you must reapply annually. If you purchase a new car, you can add it to your self-insurance certificate by providing proof of ownership.

Car insurance policy rates often vary significantly due to multiple factors. MoneyGeek answered the frequently asked questions about cheap auto insurance in Louisiana to ensure you choose the best coverage for your profile.