Average car insurance cost in New Orleans, LA

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Based on an analysis by Insure.com, the typical car insurance expense in New Orleans, Louisiana is $2,949 annually. Furthermore, car insurance premiums in New Orleans are $66 more than compared to the state average in Louisiana and $1,054 more than the national average.

Car insurance premiums differ widely depending on the location, city demographics, population density, average resident age, accident rates, and theft and vandalism.

This article looks at the most affordable car insurance companies in New Orleans, the average car insurance rates by age and gender, and the costs in New Orleans based on coverage limits.

Whether you’re a new or experienced driver, this article will guide you in finding the most affordable car insurance in New Orleans. Keep reading to learn more.

Cheap car insurance companies in New Orleans

Southern Farm Bureau offers the cheapest car insurance in New Orleans, at an average of $3,083 per year with full coverage limits of 100/300/100.

The second cheapest company in New Orleans is Farmers, offering car insurance rates at $3,562 per year.

As mentioned earlier, car insurance rates vary from one company to another because the factors used to calculate rates vary by insurer. Therefore, comparing quotes from multiple insurers is recommended to find cheap car insurance rates in New Orleans before deciding on the policy that matches your requirements.

The table below lists the average annual and monthly costs for the various car insurance companies providing coverage in New Orleans, Louisiana:

Read about the best car insurance companies.

Average car insurance cost in New Orleans by coverage limits

In New Orleans, the average car insurance rates the coverage levels are as follows:

• State minimum coverage: $795 per year (limits are 25/50/25)
• Liability only coverage: $1,480 per year (limits are 50/100/50)
• Full coverage: $2,949 per year (limits are 100/300/100)
• Non-owners coverage: $398 per year

In most states, drivers are required to have state minimum coverage to drive legally, although these requirements vary by state. However, it’s important to note that state minimum coverage does not provide coverage for any vehicles listed on your policy in the event of an at-fault accident.

To prevent compromising on coverage and out-of-pocket expenses, it’s advisable to opt for full coverage or non-owner coverage if you frequently borrow or rent a car but do not own one.

Average car insurance rates by gender in New Orleans

The average car insurance rate for a female driver in New Orleans, Louisiana, is $2,909 per year.

While the rate for a male driver is $2,984 per year, which is $75 more than what female drivers pay, according to a rate analysis by Insure.com.

Women are considered to be safer drivers than men, and statistics have proved this, according to the Insurance Information Institute. They often pay less for auto insurance because of their lower rate of severe accidents than men.

Read more on how gender affects car insurance rates.

Average car insurance rates by age in New Orleans

In New Orleans, car insurance rates are the highest for teens, at $8,766 per year or $730 per month. The rates are higher for teenagers (16- to 19-year-olds) as they are more prone to road accidents due to their lack of experience on the road, according to the Insurance Information Institute. There are driving laws for teens to help them drive better. Also, teen insurance rates can be lowered by adding teens to a parent’s auto insurance policy.

Car insurance rates are bound to decrease as teens grow older and earn a good driving record. Young adults pay $4,491 per year for their car insurance which is $4,275 less than what the teens pay for their insurance policy.

The car insurance rates in New Orleans for adult and senior drivers are $3,052 and $3,167 per year respectively.

The car insurance rates for adults and seniors are lower than those for teens and young adults. “This is because they are more likely to obey the speed limits and follow the rules of the road,” says the Insurance Information Institute.

Read more on auto insurance for seniors.

The table below depicts the average annual rates for drivers of different age groups:

Car insurance rate trends in New Orleans

Examining the trends in car insurance rates in New Orleans, Louisiana, there was an downward trend from 2022 to 2023. Between 2022 and 2023, rates decrease overall by 27% or $1,071.

The table below illustrates the trend over the three years:

Conclusion

In conclusion, the insurance rates in New Orleans, are higher than the average insurance cost in Louisiana. Shopping around and taking advantage of available discounts, drivers in New Orleans can find affordable car insurance options. Many car insurance companies offer discounts for customers who purchase multiple policies through the same company.

Sources

• Insurance Information Institute. “What determines the price of my auto insurance policy,” Accessed September 2024.
• Insurance Information Institute. “Auto insurance for teen drivers,” Accessed September 2024.
• Insurance Information Institute. “Senior driving safety and tips,” Accessed September 2024.

Methodology

Insure.com team worked with Quadrant Information Service to get car insurance data. To determine the average premiums, our team of data analysts and expert editors have analyzed 53,409,632 insurance quotes from 170 insurance companies across 34,588 ZIP codes.

The insurance rates are based on a sample profile of a 40-year-old male and female driver with a clean driving record and a good insurance score. Quotes premiums are for a full coverage policy with limits:

• $100,000 bodily injury per person
• $300,000 bodily injury per accident
• $100,000 property damage per accident
• $500 comprehensive and collision deductible

The quoted insurance rates are for comparison purposes, and your individual rates may vary.

Prachi Singh

Contributing Researcher

 

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Prachi is an insurance writer with a master’s degree in business administration. Through her writing, she hopes to help readers make smart and informed decisions about their finances. She loves to travel and write poetry.