Louisiana Car Insurance

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Key takeaways...
  • Louisiana is the State with the highest car insurance premiums in the country  over 80 percent higher than the national average
  • Make sure you shop around to get the best rate for the coverage you need
  • Consider having more than the minimum required insurance to make sure you are covered should you need it

The Louisiana car insurance industry is regulated by the Louisiana Department of Insurance although car insurance laws are administered by the Louisiana Department of Motor Vehicles for most consumers.

Louisiana is the State with the highest car insurance premiums in the country  over 80 percent higher than the national average.

Louisiana drivers pay almost double the national average and many critics blame the state’s court system which allows a jury trial for any claim in excess of $50,000.

While this may not seem like a big deal on the surface it really is as Louisiana insurance companies often settle lawsuits just under $50,000 simply to avoid the cost of going to trail and the risk associated with a jury trial after all, what jury likes an insurance company.

The risk of choosing to settle or face a jury trial for car accident claims of this relatively low amount is a big risk factor added to car insurance premiums in the State of Louisiana and drivers pay for it.

According to a study published by Insure.com in 2010 average car insurance premiums in Louisiana were $2,510.87  20 percent higher than the second most expensive state, Michigan, and over 80 percent higher than the national average of $1,429.26.

Even with a healthy car insurance industry, all Louisiana drivers need to shop around for car insurance and try to take advantage of as many car insurance discounts as possible.

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Louisiana Car Insurance Requirements

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Louisiana has some of the lowest minimum car insurance requirements in the nation.

According to the annual “Consumers Guide to Auto Insurance” publication issued by the Louisiana Department of Insurance in 2010, all vehicles must have at least the following minimum liability insurance coverage:

  • $15,000 in coverage for bodily injury to one person
  • $30,000 for bodily injury to more than one person in a single accident
  • $25,000 property damage insurance coverage

These limits are commonly referred to as 15/30/25 liability insurance.

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Louisiana Car Insurance Companies

Louisiana has well over 75 licensed companies authorized to offer car insurance coverage and is home to a very competitive market simply due to the high cost of auto insurance.

Saving $500 a year may seem to be a challenging task in less expensive states but in Louisiana car insurance quotes can vastly differ depending on what car insurance company you discuss policy coverage with.

Purchasing Louisiana car insurance is a big decision and you need a company which will be there as litigation is quite popular so in addition to comparing policy limits and premiums spend extra time researching the reputation of any potential car insurance company.

Need Louisiana car insurance rates? Get FREE Louisiana car insurance quotes online! 

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