Best Cheap Auto Insurance Quotes for Drivers Under 21 in Louisiana

Locating budget car insurance is confusing at best, and finding out which companies have the cheapest auto insurance rates for drivers under 21 takes more quotes for comparison. Premiums will more than likely be significantly greater than the average rate in Louisiana, with the increase attributed to the potentially higher risk associated with offering insurance for minors, but affordable coverage may be available if you shop around. Each insurer has their own guidelines for determining prices, so let’s begin by taking a look at the lowest cost auto insurance companies in Louisiana.

It’s important that readers know that Louisiana auto insurance rates are based on many factors that will increase or decrease the cost of a policy. Events such as a birthday, buying a home, or getting a ticket for careless driving can cause premium changes that can make some companies way too expensive in comparison to the competition.

Cheap Insurance Rates for Minors

Get a Free Quote and Save

USAA has some of the most affordable car insurance rates in Louisiana at around $1,594 each year. GEICO, MetLife, Progressive, and Safeway also make the cut as some of the best Louisiana auto insurance companies.

In this example, if you are insured with MetLife and switched to USAA, you might realize an annual savings of upwards of $316. Policyholders with Progressive may save as much as $392 a year, and Safeway customers might see rate reductions of $560 a year.

Remember that these prices are averages across all types of drivers and the different vehicles they drive and and are not figured with a rate surcharge for drivers under 21. So the auto insurance company that fits your needs best may not even be featured in the list of companies above. That points out the importance of why you need to get quotes using your own individual information.

The make and model of vehicle you are buying coverage for is a large consideration when shopping around for the best cheap car insurance for drivers under 21. Vehicles with lots of speed or power, poor safety features, or a history of substantial liability claims will cost much more to insure than more economical and safe models. The table below illustrates car insurance prices for a handful of the most affordable automobiles to insure in Louisiana.

Table data represents single male driver age 20, no speeding tickets, no at-fault accidents, $500 deductibles, and Louisiana minimum liability limits. Discounts applied include safe-driver, and claim-free. Estimates do not factor in the specific area where the vehicle is garaged which can lower or raise premiums significantly.

Looking at the rates, you can see that makes and models like the Chevrolet Traverse, Ford Escape, Honda CR-V, Honda Accord, and Dodge Grand Caravan are most likely going to be a few of the most budget-friendly vehicles to insure for minors. The cost of auto insurance will be more expensive just because there is more exposure for drivers under 21, but overall those specific models will probably have the cheapest car insurance rates available.

Cost comparison with and without full coverage

Finding the best cheap car insurance for drivers under 21 in Louisiana is probably important to the majority of drivers, and one easy way to lower the cost of insurance is to only buy liability coverage. The example below illustrates the difference between insurance costs with full coverage compared to only the Louisiana minimum liability coverage. The premiums are based on no claims or violations, $100 deductibles, single marital status, and no additional discounts are factored in.

google.charts.setOnLoadCallback(drawFclqcibChart);function drawFclqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘Full Coverage with $100 Deductibles’, ‘Liability Only’],[‘Age 20’, 4553,1399],[‘Age 30’, 2363,767],[‘Age 40’, 2339,711],[‘Age 50’, 2127,665],[‘Age 60’, 2055,653],[‘Age 70’, 2491,875]]);var options = {title: ‘Full Coverage Rates Compared to Liability Only Rates’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 500,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’},colors: [‘#6791b9′,’#98bee2’],hAxis: {title: ‘Annual Auto Insurance Cost for Average Vehicle in Louisiana’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);var chart = new google.visualization.BarChart(document.getElementById(‘qcibfcl’));chart.draw(data, options);}

If we average the cost for ages 20 through 70, comprehensive and collision coverage on your policy costs an extra $2,655 per year more than just insuring for liability. At some point, about every driver wonders when is the right time to remove full coverage. There isn’t a written rule for phasing out full coverage on your policy, but there is a guideline you can use. If the annual cost of your full coverage insurance is more than about 10% of the settlement you would receive from your company, then you might want to consider buying only liability coverage.

There are some circumstances where dropping full coverage is not advised. If you still owe a portion of the original loan, you must maintain physical damage coverage to protect the lienholder’s interest in the vehicle. Also, if you cannot afford to purchase a different vehicle in the even your car is totaled, you should not drop full coverage.