Cheapest Car Insurance for Low Credit Scores in Louisiana

Cheapest Car Insurance for Low Credit Scores in Louisiana

When buying insurance for bad credit, one of the key things that is used to calculate the cost of insurance is where you normally keep your vehicle in Louisiana. Areas that are more densely populated like New Orleans, Harvey, and Metairie tend to pay slightly more, whereas areas with less congestion have the benefit of cheaper auto insurance prices.

The table below lists the most expensive areas in Louisiana for low credit scores to purchase a policy in.

Most expensive Louisiana cities for auto insurance
Rank City Annual Premium
1 New Orleans $2,827
2 Marrero $2,569
3 Harvey $2,563
4 Terrytown $2,455
5 Metairie $2,232
6 Kenner $2,225
7 Shenandoah $2,204
8 Central $2,201
9 Prairieville $2,169
10 Baton Rouge $2,143
11 Alexandria $2,117
12 Hammond $2,107
13 Laplace $2,031
14 Lafayette $1,995
15 Slidell $1,977
16 Sulphur $1,974
17 Monroe $1,931
18 Lake Charles $1,915
19 Shreveport $1,894
20 New Iberia $1,871
21 Houma $1,846
22 Bayou Cane $1,782
23 Bossier City $1,780
24 Natchitoches $1,763
25 Ruston $1,703
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Rates are approximated as specific Louisiana zip code can modify prices greatly.

Buying cost effective car insurance is not the easiest thing to do, and finding out which companies quote the best insurance rates for low credit scores requires a bit more work.

Each company has their own guidelines to establish rates, so we need to take a look at the overall cheapest insurance companies in Louisiana.

Cheapest Insurance Rates in Louisiana

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Cheapest Louisiana car insurance ranked by price
Rank Company Cost Per Year
1 USAA $1,594
2 MetLife $1,836
3 GEICO $1,907
4 Progressive $1,986
5 Safeway $2,220
6 Southern Farm Bureau $2,248
7 California Casualty $2,338
8 State Farm $2,455
9 Safe Auto $2,575
10 Allstate $2,975
11 Encompass $3,266
12 Liberty Mutual $3,608
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USAA may offer some of the most affordable car insurance rates in Louisiana at around $1,594 annually. MetLife, GEICO, Progressive, and Safeway would also be considered some of the best Louisiana auto insurance companies.

As shown in the rates above, if you are insured with Progressive and switched to MetLife, you may realize an annual savings of about $150. Customers with Safeway might save as much as $384 a year, and Southern Farm Bureau policyholders might reduce rates by $412 a year.

Bear in mind that those rates are averages for all types of insureds and vehicles and do not factor in a price discount for low credit scores. So the auto insurance company that fits your age and vehicle best may not even be featured in the rate chart shown above. That is why you need to compare rates from as many companies as possible using your own driver and vehicle profiles.

The vehicle model on the policy is probably the largest consideration when shopping around for low-priced coverage for low credit scores. Vehicles with lower acceleration and performance, advanced safety features, or a positive history of liability claims will cost quite a bit less to insure than high performance models.

The information below showcases insurance costs for the most affordable vehicles to buy insurance for.

Insurance Rates for Popular Cars in Louisiana
Make, Model, and Trim Level Annual Cost Semi-Annual Cost Monthly Cost
Ford Focus SES 4-Dr Sedan $1,272 $636 $106
Ford Fusion SE 4-Dr Sedan $1,326 $663 $111
Honda Civic GX 4-Dr Sedan $1,366 $683 $114
Hyundai Elantra Blue 4-Dr Sedan $1,272 $636 $106
Kia Optima EX $1,410 $705 $118
Nissan Altima 3.5 SR 2-Dr Coupe $1,476 $738 $123
Toyota Camry SE $1,300 $650 $108
Toyota Corolla XRS $1,326 $663 $111
Volkswagen Jetta 2.0T Station Wagon $1,228 $614 $102
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Data based on married female driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Louisiana minimum liability limits. Discounts applied include safe-driver, multi-policy, multi-vehicle, homeowner, and claim-free. Rate information does not factor in specific location information which can decrease or increase rates greatly.

Auto Insurance Rates for Popular SUVs and Crossovers in Louisiana
Make, Model, and Trim Level Annual Cost Semi-Annual Cost Monthly Cost
Acura MDX Advance/Entertainment 4WD $1,354 $677 $113
BMW X5 3.5D AWD $1,448 $724 $121
Chevrolet Traverse LTZ 2WD $1,160 $580 $97
Ford Escape XLT 4WD $1,068 $534 $89
Ford Explorer XLT 4WD $1,166 $583 $97
GMC Acadia SLE AWD $1,232 $616 $103
Honda CR-V EX-L 2WD $1,068 $534 $89
Honda Pilot EX-L 2WD $1,258 $629 $105
Jeep Grand Cherokee Limited 4WD $1,326 $663 $111
Kia Sportage LX 2WD 4-Dr $1,138 $569 $95
Nissan Pathfinder S 4WD $1,166 $583 $97
Toyota Highlander Hybrid Limited 4WD $1,354 $677 $113
Toyota RAV4 Sport 4WD $1,232 $616 $103
Volvo XC90 3.2 2WD $1,326 $663 $111
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Above prices assume married female driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Louisiana minimum liability limits. Discounts applied include multi-policy, multi-vehicle, safe-driver, claim-free, and homeowner. Prices do not factor in zip code location which can alter insurance rates substantially.

Insurance Rates for Popular Pickup Trucks in Louisiana
Make, Model, and Trim Level Annual Cost Semi-Annual Cost Monthly Cost
Chevrolet Silverado 2500HD LTZ Crew Cab 2WD $1,504 $752 $125
Chevrolet Silverado 3500HD LT Crew Cab Diesel 2WD $1,448 $724 $121
Chevrolet Silverado LT Regular Cab $1,316 $658 $110
Dodge Ram 2500 Crew Cab ST 2WD $1,410 $705 $118
Dodge Ram Crew Cab SLT 2WD $1,342 $671 $112
Ford F-150 Lariat Super Cab 2WD $1,258 $629 $105
Ford F-250 XLT Crew Cab 2WD $1,476 $738 $123
GMC Canyon SLE Ext Cab 2WD $1,204 $602 $100
GMC Sierra SLE Crew Cab 4WD $1,326 $663 $111
Toyota Tundra SR/5 Crew Max 2WD $1,316 $658 $110
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Price data assumes married female driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Louisiana minimum liability limits. Discounts applied include multi-vehicle, multi-policy, claim-free, safe-driver, and homeowner. Price information does not factor in zip code location which can affect premiums noticeably.

Should you buy full coverage?

Finding the cheapest auto insurance for low credit scores in Louisiana should be important to most drivers, and one of the fastest ways to lower the cost of insurance is to not insure for full coverage. The chart below illustrates the comparison of car insurance rates with and without full coverage. The premiums are based on no accidents, no driving violations, $100 deductibles, single status, and no discounts are taken into consideration.

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If averaged out across all ages, physical damage coverage costs $2,655 per year over liability only. That is a large expense which might make you wonder if physical damage coverage is worth the money. There is no set guideline that works best for making the decision to drop physical damage coverage, but there is a general guideline you can use. If the annual cost of comprehensive and collision coverage is more than about 10% of the vehicle’s replacement cost less your deductible, then you may need to consider dropping full coverage.

For example, let’s say your vehicle’s replacement cost is $11,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled in an accident, the most you would get paid by your company is $10,000 after paying your policy deductible. If it’s costing you more than $1,000 a year for physical damage coverage, then it may be the right time to buy liability only.

Best insurance in Louisiana

Selecting a good quality car insurance provider is difficult considering how many choices you have in Louisiana. The information shown next can help you pick which companies you want to consider comparing prices from. These ratings are for major nationwide insurance companies, so companies that may only write in Louisiana are not factored into these rankings.

Top 10 Major Auto Insurers Overall in Louisiana

  1. USAA
  2. AAA Insurance
  3. Allstate
  4. State Farm
  5. The Hartford
  6. Safeco Insurance
  7. Progressive
  8. American Family
  9. Esurance
  10. The General

Best cheap insurance quotes for bad credit

There are a variety of different ways to comparison shop for insurance in Louisiana, but the most popular are through a non-exclusive or independent agent, a captive (or exclusive) agent like Auto-Owners or State Farm, or direct either online or via phone. All three ways can provide insurance quotes, but each is slightly different in how they provide rate quotes.

Independent insurance agents have contracts with many companies and can do rate comparisons with every one. Agents of this type possess the freedom to provide you with more rate quotes, which can give you the best idea of how your rates compare. If they find a cheaper price, your agent can switch companies and you don’t have to switch agencies.

An exclusive agent is able to place business with one company, two examples being Allstate and Liberty Mutual agents. These guys and gals cannot provide other companys’ prices, so they really need to provide good service.

Buying insurance direct means you do not use local insurance agents and buy direct from companies such as Progressive or Esurance. Shopping for insurance direct is a good choice for families who do not need advice for asset protection and know more than average about the limitations of insurance.

So out of those three methods, which one works best to buy the cheapest auto insurance for low credit scores in Louisiana? The majority of people assume that shopping direct yields the cheapest rates because there are no middleman commissions, but that does not always hold true. A good argument could also be made that an independent agency is the best way since they have more companies to choose from, but again, that’s not accurate. In many cases, exclusive agencies have coverage prices that are impossible to beat.

Due to the fact that insurance rates vary so much, really the best method to ensure you are not overpaying for insurance is to do a thorough rate comparison. If time allows, get rate quotes from independent agents, exclusive agents, and direct companies to give yourself the best selection. For a list of companies with cheap rates in Louisiana, click here to view.