Average car insurance cost in New Orleans, Louisiana

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Based on our data, New Orleans drivers pay an average of $2,949 annually for car insurance. It’s $66 more than the Louisiana state average and $1,054 more than the national average.

Insurance rates can differ significantly depending on where you live. Factors like population density, accident rates and theft statistics all play a role in determining premiums. As a result, drivers in some ZIP codes pay higher premiums.

Understanding how car insurance rates in New Orleans stack up against state and national averages can help you make informed decisions. We’ll walk you through local trends, rate changes and how to save on your premiums.

Cheap car insurance companies in New Orleans

Southern Farm Bureau provides the lowest full coverage car insurance rate in New Orleans, with an annual premium of $3,083 for the liability limits of $100,000 per person, $300,000 per accident and $100,000 for property damage.

Farmers also offers cheap full coverage car insurance rates at an average annual cost of $3,562.

Every insurance company calculates premiums differently based on its unique underwriting guidelines. This means prices can vary widely, so getting quotes from multiple insurers is one of the best ways to find affordable coverage tailored to you.

The table below shows the average annual and monthly car insurance rates for various car insurance companies in New Orleans.

Read about the best car insurance companies.

Average car insurance cost in New Orleans by coverage limits

Here’s a breakdown of average car insurance rates in New Orleans by coverage type.

• State minimum coverage: $795 per year (limits are $25,000 bodily injury liability per person, $50,000 total bodily injury liability per accident and $25,000 property damage liability per accident).
• Liability only coverage: $1,480 per year (limits are $50,000 bodily injury liability per person, $100,000 total bodily injury liability per accident and $50,000 property damage liability per accident).
• Full coverage: $2,949 per year (limits are $100,000 bodily injury liability per person, $300,000 total bodily injury liability per accident and $100,000 property damage liability per accident).
• Non-owners coverage: $398 per year

Most states require drivers to carry a minimum amount of liability insurance to legally operate a vehicle, but the specific coverage limits vary by state. Liability insurance is designed to cover injuries or property damage you cause to others in an accident.

However, it’s important to understand that minimum coverage won’t pay for your own medical bills or repairs to your vehicle if you’re at fault. If you want protection for your own car, you’ll need to add collision and comprehensive coverage to your policy.

Average car insurance rates by gender in New Orleans

Female drivers in New Orleans pay about $2,909 per year for car insurance, while male drivers spend $2,984, which is $75 more than what females pay.

Gender is commonly used to calculate premiums in most states, but some states, including California, Hawaii, Massachusetts, Michigan, Montana, North Carolina and Pennsylvania, don’t allow insurers to use gender to calculate premiums.

According to the Insurance Information Institute, or Triple-I, women generally demonstrate safer driving habits and are less likely to be involved in severe accidents. Insurers account for this elevated risk, resulting in increased insurance premiums for male drivers.

Read more on how gender affects car insurance rates.

Average car insurance rates by age in New Orleans

Teen drivers in New Orleans face the highest car insurance rates, at $8,766 per year or $730 per month. According to the Insurance Information Institute, insurance costs are higher for teens aged 16 to 19 due to their increased risk of accidents and limited driving experience. On average, teen drivers pay $4,275 more for car insurance than young adults.

Car insurance premiums typically drop as teens age and gain more experience behind the wheel. On average, young adults (ages 20 to 24) pay $4,491 annually for coverage – that’s $4,275 less than what teens usually pay.

Adults between 25 and 55 and senior drivers between 60 and 75 in New Orleans pay an average of $3,052 and $3,167 per year for car insurance, respectively.

Read more on auto insurance for seniors.

The table below shows the average annual full coverage car insurance rates for drivers of different age groups.

Car insurance rate trends in New Orleans

Car insurance premiums in New Orleans showed a downward trend between 2022 and 2023, with average rates changing by 27% or about $1,071.

The graph below tracks insurance costs from 2016 to 2023, highlighting long-term trends that help explain today’s rate changes.

How drivers can save on insurance even with higher rates

Car insurance rates in New Orleans are higher than the Louisiana state average. To find affordable coverage, consider comparing quotes from at least three to five insurers. You can also save by taking advantage of discounts for safe driving, low annual mileage or bundling your policies.

Methodology

Insure.com commissioned car insurance rates in 2023 from Quadrant Information Services. To determine the average premiums, our team of data analysts and expert editors 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 rates may vary.

Shivani Gite

Contributing Writer

 

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Shivani Gite is a personal finance and insurance writer with a degree in journalism and mass communication. She is passionate about making insurance topics easy to understand for people and helping them make better financial decisions.