There are over 3.4 millions licensed drivers in Louisiana, and Shreveport is the third largest city in the Bayou State. Drivers in Shreveport pay an average of $841 for minimum coverage and $2,436 annually for full coverage, according to Bankrate’s 2021 study of quoted annual premiums.
Bankrate reviewed several carriers and found not only cheap rates for Shreveport drivers, but a number of carriers offering strong customer service ratings, great financial strength, multiple coverage options and discounts.
Best car insurance companies in Shreveport
Bankrate’s 2021 auto insurance study finds several national carriers offering many benefits to customers throughout Louisiana, from financial strength to customizable policies. In addition to these great benefits, Geico, USAA, State Farm and Progressive offer highly competitive and cheap car insurance rates in Shreveport.
|Insurance company||J.D. Power score
|Average annual premium for minimum coverage||Average annual premium for full coverage|
*USAA is not eligible for official ranking with J.D. Power due to eligibility restrictions
Geico is the most affordable option for drivers in Shreveport, with the least expensive premiums among the carriers on the list. Not only does Geico impress with the lower premiums, but the higher ranking with J.D. Power speaks to the overall customer satisfaction. The discounts are plentiful too, with discounts including military, club affiliation, good student and multi-policy to name a few.
Learn more: Geico Insurance review
USAA has some of the lowest rates for premiums among the carriers in Shreveport. If you meet the eligibility criteria as a member of the military, veteran or immediate family member of a servicemember, you will find USAA offers both basic and customized auto insurance policies, and a wide number of discounts too.
Learn more: USAA Insurance review
State Farm is the largest provider of auto insurance in the country, and has a wide range of policy options and discounts available to drivers in Shreveport. Although it is considered the largest, State Farm scores below industry average with an 835 out of 1,000 points with J.D. Power, the lowest among the carriers included. However, the financial strength rating of A++ with AM Best and the competitive premiums may make it a top choice for consideration.
Learn more: State Farm Insurance review
Progressive is another top provider of insurance in the U.S. and offers some of the least expensive rates in Shreveport. While not as large as State Farm, Progressive does score higher with J.D. Power, earning an 848 out of 1,000 possible points for customer satisfaction. Progressive has numerous discounts available, including the Progressive Snapshot where your safe driving habits are monitored via telematics and you may be eligible for greater savings.
Learn more: Progressive Insurance review
Cheapest car insurance in Shreveport
Louisiana has the highest auto insurance rates in the country, according to the Insurance Information Institute. Bankrate found the same to be true when rates were examined across the states and found Louisiana drivers pay an average of $2,724 annually for full coverage. Rates in Shreveport are equally high, with drivers paying an average of $2,436 for full coverage.
The good news is there are numerous national carriers offering competitive rates for drivers in Shreveport. For instance, not only do Geico, USAA, State Farm, AAA and Progressive all offer cheaper premiums, each of these carriers receives at least an A rating from AM Best for financial strength. Each of these carriers also offers a number of discounts to help further reduce the cost.
|Insurance company||Average annual premium for minimum coverage||Average annual premium for full coverage|
Shreveport insurance requirements
Louisian requires drivers to carry a minimum amount of liability insurance, which must include 15/30/25 in liability limits.
- $15,000 bodily injury liability per person
- $30,000 bodily injury liability per accident
- $25,000 property damage liability per accident
However, purchasing only the minimum coverage in Louisiana is not recommended by insurance experts, since you would pay higher out of pocket costs when you have limited coverage. Another point to keep in mind is if you lease or finance a vehicle, the lender will likely require you to add comprehensive and collision coverage to your policy. Gap insurance is sometimes required by lenders too, which pays the difference between the depreciated value of a vehicle and what you owe on a loan, should your car be totaled from an at-fault accident.
Car insurance discounts in Shreveport
Since Louisiana residents pay some of the highest car insurance rates in the country, finding discounts is especially critical to help offset some of the cost to drive legally. Fortunately, there are a number of discounts available, including:
- Multi-policy: If you purchase auto insurance from the same carrier as your homeowners or renters insurance carrier, then you may be able to receive a bundling discount.
- Defensive driver: If you agree to take a Defensive Driving course, and one approved by the carrier, then you may earn a discount on premiums, in addition to learning valuable road safety tips.
- Pay-in-full: If you agree to pay your entire premiums up front, instead of broken up into monthly or quarterly installments, then you may receive a discount for paying in full.
- Good student: If you work hard to keep your grades up, you may receive extra rewards in the form of discounts on premiums.
These are only a handful of discounts available. If you are a member of the military or veteran, if you are considered a Senior Driver or any number of other special circumstances, then you may find additional discounts available. Remaining ticket and accident free is one of the best ways to pay the least amount, but discounts are highly beneficial.
Frequently asked questions
What is the best car insurance company?
The best car insurance company is the one that meets your exact needs while allowing you to still stay within budget. It is important to consider many factors, such as customer service ratings, financial strength and coverage options when determining the best for you. Bankrate has reviewed several and found USAA, Amica and Geico are all top contenders based on this same information.
How much does car insurance in Shreveport cost?
The average rate for car insurance in Shreveport is $841 for minimum coverage, and $2,436 annually for full coverage. But your exact car insurance rates are determined by factors specific to you, such as your age, vehicle, driving history, number of miles driven and credit score. Your rate may be higher or lower depending on these factors.
Bankrate utilizes Quadrant Information Services to analyze 2021 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on a 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:
- $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $50,000 property damage liability per accident
- $100,000 uninsured motorist bodily injury per person
- $300,000 uninsured motorist bodily injury per accident
- $500 collision deductible
- $500 comprehensive deductible
To determine minimum coverage limits, Bankrate used minimum coverages that meet each state’s requirements. Our base profile drivers own a 2019 Toyota Camry, commute five days a week and drive 12,000 miles annually.
These are sample rates and should only be used for comparative purposes.