Auto insurance rates in Louisiana are relatively high; in 2011 annual rates are $1,773, compared to a national average of $1440.
Annual Changes
While auto insurance premiums in Louisiana remain well above the national average, annual premiums did fall 18% between the beginning of 2010 and the same period in 2011. This follows a 12% reduction in premiums between 2009 and 2010. It is not possible to predict future trends so that monitoring rates and obtaining frequent quotes through this site is the best way for drivers to ensure that they are paying the lowest possible rates for auto insurance in Louisiana. The state does not fix or control auto insurance rates in Louisiana so that each insurer is free to set its own rates using its own formulas.
Seasonal Changes
Rates fluctuated quite a bit at different times throughout 2010. The average annual premium in Louisiana hit a record high of $2,242 in April of that year before falling to $2,002 in May, climbing slightly in June and July, and then falling quite substantially to a low of $1,627 in October which remained the same in November before climbing above the $2,000 mark again in December – and plummeting to $1,773 in January 2011. This volatile pattern illustrates how monitoring prices and requesting multiple quotes helps Louisiana drivers find the best insurance rates.
Insurance Requirements
The minimum insurance requirements in Louisiana include personal liability coverage of $15,000 per person and a $30,000 limit per accident, and the minimum property damage liability coverage is $25,000. Under the tort system in Louisiana, one party is judged responsible for all damages that result from an accident so that higher coverage limits are highly recommended to preserve assets in the event of a lawsuit. Uninsured and underinsured motorist coverage is available and recommended, although it is not mandatory in Louisiana.
Advice for Getting the Best Deals
Both regional and national insurance companies provide auto insurance coverage in Louisiana. Since each company sets its own rates for different drivers and cars, it is not possible to determine which company offers the lowest rates. Obtaining multiple quotes from reliable insurance companies that are rated A or higher by A. M. Best is highly recommended. In addition, checking the J. D. Power consumer satisfaction ratings for each company is advisable.
The easiest way to get the lowest rates for car insurance in Louisiana is by obtaining multiple quotes and monitoring prices through this site at regular intervals.
