Best car insurance in Louisiana for 2023

Best car insurance companies in Louisiana

Our extensive research found Geico, USAA, State Farm, Progressive and Allstate to be the best car insurance companies in Louisiana. To make those determinations, we analyzed average annual car insurance premiums from Quadrant Information Services, reviewed customer satisfaction scores from the 2022 J.D. Power U.S. Auto Insurance Study, and factored in AM Best financial strength ratings. Geico, USAA and State Farm have annual premiums below the Louisiana full coverage average of $2,909 per year and the minimum coverage average of $805 per year.

How Bankrate chose the best car insurance companies in Louisiana

Bankrate’s insurance editorial team reviewed the largest Louisiana car insurance companies by market share. We first analyzed average quoted premiums obtained from Quadrant Information Services and then extensively reviewed each company’s coverages, discounts, policy features and third-party financial rankings from AM Best and S&P. We also looked at customer satisfaction scores from third-party rating agency J.D. Power.

How much is car insurance in Louisiana?

The average cost of car insurance in Louisiana is $2,909 per year on average for full coverage, nearly $1,000 more than the national average of $2,014 per year. The cost of car insurance in Louisiana is much higher than in surrounding states. For instance, the average cost of car insurance in Mississippi is $1,771 per year for full coverage, and the average cost of car insurance in Texas is $2,019 per year for full coverage.

The high cost of coverage in Louisiana could be due to the economic strain that auto accidents put on Louisiana’s economy. Other possible reasons for the high cost could be the cost of parts and labor for damages, the cost of medical care for injuries, the state’s frequent natural disasters and the likelihood of getting into an auto accident in the state.

How to find the best car insurance in Louisiana

The best car insurance in Louisiana will depend on your individual needs and preferences. It can be helpful to be aware of requirements from your state and lender. Then, you may want to factor in individual preferences such as whether or not you’ll want roadside service. Finally, to find the best auto insurance in Louisiana, you may want to get car insurance quotes and compare car insurance discounts from the top providers to help keep your insurance costs in line with your budget.

Consider minimum insurance requirements in Louisiana

Louisiana requires that every driver carry at least minimum limits of bodily injury liability and property damage liability. To find Louisiana’s specific requirements, you can reference the Louisiana Department of Insurance’s “Consumer’s Guide to Auto Insurance” or Bankrate’s guide to Louisiana’s insurance laws. Most agents recommend that you purchase higher levels of liability for greater financial protection.

Consider lender requirements

Are you leasing or financing your vehicle? If so, your lender or lienholder will likely require you to have full coverage so that they know damages will be covered in the event of an accident. Gap insurance may be a smart optional choice for newer financed vehicles. Gap insurance is designed to pay the difference between what you owe on your new car and what it’s worth if it is stolen or totaled in a covered accident.

Consider your individual needs

When shopping for auto insurance in Louisiana, certain personal factors can affect which car insurance policy you choose. Events like adding a teen driver to your car insurance can increase your car insurance rate. If you’re insuring a young driver, you may want to look for companies that offer competitive student discounts. Or, if you’ve had a DUI conviction in Louisiana, you might want to look for a company that offers insurance to high-risk drivers. A driver with a clean driving record might have different considerations than a driver with an at-fault accident on their record, for example.