The cheapest auto insurance provider in Louisiana for most drivers is Louisiana Farm Bureau. GEICO is also great option, depending on the driver's profile.
MoneyGeek also determined the best car insurance in Louisiana for affordability and service quality.
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Cheapest Minimum Liability Car Insurance in Louisiana (October 2023)
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
- GEICO: $586 per year
Allstate, which has an average annual cost of $1,348, 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.
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Cheapest Full Coverage Car Insurance in Louisiana (October 2023)
In Louisiana, the cheapest providers of full coverage car insurance on average are:
- Louisiana Farm Bureau: $1,015 per year
- GEICO: $1,697 per year
If you are considering getting a policy from Allstate, know that it’s the most expensive, at an average of $4,005 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.
How to Compare Cheap Louisiana Car Insurance Quotes Online
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.
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Cheapest Car Insurance in Louisiana by Age (October 2023)
Age is one of the biggest factors affecting car insurance rates in Louisiana. MoneyGeek found that State Farm and Louisiana Farm Bureau offer the cheapest options, depending on what age group you and your family belong to.
Cheapest Car Insurance in Louisiana for Teens and Their Families (October 2023)
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.
On average, car insurance rates for male teens tend to be significantly more expensive than for female teens. This rate difference is not as notable when drivers reach their 20s and beyond.
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.
Cheapest Car Insurance in Louisiana for Young Adults (October 2023)
Drivers in their 20s can find the cheapest auto insurance in Louisiana from the following carriers:
- Louisiana Farm Bureau: $1,554 per year
- GEICO: $1,732 per year
Allstate is the most costly insurance provider for young adults in Louisiana, with an average annual cost of $4,468. On average, drivers in their 20s pay $539 more for a Louisiana Farm Bureau auto insurance policy than middle-aged drivers pay for the same policy.
Cheapest Car Insurance in Louisiana for Seniors (October 2023)
For seniors, you may consider the following companies for the cheapest full coverage car insurance in Louisiana:
- Louisiana Farm Bureau: $1,253 per year
- GEICO: $1,774 per year
The insurer with the highest full coverage policy cost is Allstate. Louisiana seniors will pay about $4,082 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 $238 more per year than a 40-year-old for a full coverage policy from Louisiana Farm Bureau. 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.
Cheapest Car Insurance for Higher Risk Drivers (October 2023)
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.
Louisiana Farm Bureau has the cheapest coverage for drivers with speeding tickets and at-fault accidents. You will get the lowest rates from Louisiana Farm Bureau if you have a DUI.
Cheapest after a ticket: Louisiana Farm Bureau ($1,171 per year)
Cheapest after an accident: Louisiana Farm Bureau ($1,312 per year)
Cheapest after a DUI: Louisiana Farm Bureau ($1,404 per year)
Cheapest for poor credit: Louisiana Farm Bureau ($1,820 per year)
Cheapest for sports cars: GEICO ($2,026 per year)
Cheapest Car Insurance in Louisiana After a Ticket
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: $2,218 per year
Allstate provides the highest rates for drivers with speeding tickets at an average cost of $4,599 per year. Typically, rates spike after a speeding ticket, costing an average of $2,575 per year for a full coverage policy, $540 more than what drivers with a clean record pay for the same coverage.
Cheapest Car Insurance in Louisiana After an Accident
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: $2,405 per year
The most expensive insurer to consider for a policy if you have an at-fault accident is Allstate, costing about $5,028 per year. According to our findings, you pay an average of $1,003 more annually for a full coverage policy if you have an at-fault accident.
Cheapest Car Insurance in Louisiana After a DUI
The cheapest full coverage car insurance companies in Louisiana if you have a DUI are:
- Louisiana Farm Bureau: $1,404 per year
- State Farm: $2,218 per year
Allstate is the most expensive insurer in the state for those with DUIs, with an average annual rate of $5,120. You will pay an average of $1,022 more than a driver with a clean record if you get a DUI.
Cheapest Car Insurance in Louisiana for Drivers With Poor Credit (October 2023)
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 $5,925 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 $1,777, 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.
Cheapest Car Insurance in Louisiana for Sports Cars (October 2023)
The top two companies offering the cheapest full coverage auto insurance in Louisiana for sports cars are:
- GEICO: $2,026 per year
- Progressive: $2,241 per year
With an average annual cost of $4,598, 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 $672 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.
Cheapest Car Insurance in Louisiana for Military Drivers (October 2023)
For active duty and retired military veterans, MoneyGeek found that the cheapest auto insurance carrier in Louisiana is Louisiana Farm Bureau. The insurer’s full coverage policies cost an average of $1,015 per year.
USAA is also available for military members at $1,354 per year. USAA is a company that specializes in providing services for veterans and active-duty military personnel and their families. It’s accessible in every state and provides quality customer service without sacrificing cost.
Louisiana Farm Bureau
- $1,015 per year
- Ranks first out of seven insurance companies for affordability for military customers
Louisiana Farm Bureau is the cheapest insurer in Louisiana for drivers who are military members. It offers roadside assistance and rental car and/or travel reimbursment.
Cheapest Car Insurance in Louisiana by City
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.
Car Insurance in Louisiana: What You Need to Know
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 Car Insurance Requirements
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.
Bodily Injury Liability
According to Louisiana law, your policy should have at least $15,000 liability coverage per person and $30,000 per accident. Bodily injury liability covers the costs associated with injuring a third-party individual if you are at fault in an accident. This coverage does not protect you, so if you get injured in an accident, you will pay for your medical expenses out of pocket. You may consider getting higher bodily injury limits for added protection. Otherwise, your policy may not cover all the costs if a serious injury occurs in an accident.
Property Damage Liability
This covers the cost of third-party property damage, and the required limit in Louisiana is $25,000 per accident. The expenses covered under property damage liability include repairs and replacement costs. Property damage liability does not cover these costs for your own vehicle. Although Louisiana only requires $25,000 coverage, you can increase your limits to avoid paying out of pocket if you cause more damage in an accident.
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.
Car Insurance Alternatives in Louisiana
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.
FAQs About Car Insurance in Louisiana
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.
Expert Advice on Finding Cheap Car Insurance in Louisiana
To help you find credible and accurate insight on car insurance in Louisiana, MoneyGeek received expert advice from trusted professionals. The perspectives and opinions expressed are those of the individual contributor.
- What steps can drivers in Louisiana take to find affordable car insurance?
Professor of Practice - Freeman School of Business at Tulane University
About Mark Fitzpatrick