Cheapest and Best Car Insurance in Lafayette, LA (2024)

In Lafayette, Louisiana, the best and cheapest car insurance depends on coverage and driver details. Louisiana Farm Bureau is the least expensive for minimum and full coverages. State Farm is the best overall, being the most affordable for families with teens, excelling in customer service and balancing price and service.

Louisiana Farm Bureau offers the cheapest car insurance in Lafayette.

• Louisiana Farm Bureau: $577 per year
• GEICO: $681 per year

Allstate has the highest annual premium of $1,485, which is $908 more expensive than the cheapest option. This emphasizes the importance of comparing rates to save on car insurance.

The state law mandates the following limits on minimum coverage in Lafayette:

• $15,000 bodily injury per person
  
• $30,000 bodily injury per accident
  
• $25,000 property damage per accident
  

If you’re insured for these minimums and involved in an accident, your policy covers up to $15,000 per person's injuries and up to $30,000 for multiple people’s injuries per accident. You must cover the difference out of pocket if the costs exceed these amounts. Consider getting higher limits for better financial protection.

Louisiana Farm Bureau offers the cheapest full coverage car insurance in Lafayette.

• Louisiana Farm Bureau: $1,113 per year
• GEICO: $1,799 per year

Allstate offers the most expensive policy, with an annual premium of $4,134. The difference between the least and the most expensive is $3,021, illustrating why it's crucial to compare rates. Full coverage policies offer more protection and are priced higher than minimum coverage.

A full coverage policy enhances protection with higher liability limits than minimum coverage: $100,000 for bodily injury per person, $300,000 for bodily injury per accident and $100,000 for property damage per accident.

Full coverage also includes these insurance types:

• Collision insurance covers vehicle repair costs after collisions, whether with another car or an object like a tree or light pole. It also covers rollover accidents and pothole damage.
• Comprehensive insurance provides financial protection from theft, weather damage, vandalism, fires, natural disasters and hitting animals like deer.

Full coverage insurance is typically required if you lease or finance a car. For new vehicles, full coverage provides financial protection for your investment. However, the additional protection may not justify higher be worth it for older vehicles. Finding the right amount of car insurance involves balancing coverage against premiums to prepare for unexpected expenses.

Louisiana Farm Bureau is the cheapest company for drivers with a poor driving record in Lafayette. The lowest rates vary by driving infraction:

• Speeding ticket: $1,295 per year
• At-fault accident: $1,451 per year
• DUI: $1,564 per year

Allstate charges the highest premiums for all violations, with significant differences from the cheapest options. For example, after a speeding ticket, Allstate's rate of $4,779 per year is much higher than Louisiana Farm Bureau by $3,484.

In Lafayette, car insurance rates are often higher for drivers with severe infractions due to their increased risk. For instance, drivers with speeding tickets face an average annual premium of $4,299, whereas a DUI increases the rate to around $5,014. Drivers with offenses must compare insurance policies carefully to find the most cost-effective coverage.

State Farm offers the cheapest car insurance for teens in Lafayette. Here are the lowest rates for family policies combining two parents and a teen driver:

• State Farm: $4,644 per year for female teens and $5,781 per year for male teens
• GEICO: $6,695 per year for female teens and $7,208 per year for male teens

Allstate has the highest annual premium for female teens, $8,022, which is $3,378 more than State Farm. The hefty price gap emphasizes the need to compare rates when adding high-risk teen drivers to family policies for maximum savings.

Teen drivers face much higher auto insurance costs for individual policies than family plans. An individual teen policy averages $11,485 annually, while adding a teen to a family policy averages $7,414. Insurers deem teens high-risk drivers, explaining the substantial difference. It's also challenging for teens to secure individual policies, as insurers mitigate risk with higher rates and may reject young drivers without an established driving record.

Louisiana Farm Bureau offers the cheapest car insurance for military backgrounds in Lafayette. Here are the lowest annual premiums for veterans and service members:

• Louisiana Farm Bureau: $1,113 per year
• USAA: $1,677 per year

USAA ranks second in affordability and provides specialized services to active-duty military members.

Comparing rates helps you save on car insurance in Lafayette. However, it can take about 15 minutes per insurer and up to over an hour for three or more companies. Use MoneyGeek's car insurance calculator to save time and get an estimate quickly. Just enter your key details like age, driving history, credit rating and coverage preferences.

Choosing the right auto insurance depends on how you prioritize factors like service, cost and coverage. State Farm is the best insurer in Lafayette across various categories with the following MoneyGeek scores:

• Best overall: 80 out of 100
• Best for customer service: 77 out of 100
• Best cheap: 80 out of 100

State Farm stands out for its overall value, service quality, and affordability. Its top score reflects a strong combination of excellent service and cost effectiveness. For superior service, State Farm leads with the highest score. For budget-conscious consumers, it maintains quality service at an affordable price.

State Farm offers the best car insurance in Lafayette.

• State Farm: MoneyGeek score of 80 out of 100 ($1,954 per year)
• Progressive: MoneyGeek score of 67 out of 100 ($2,099 per year)

State Farm achieves high satisfaction and affordability scores, contributing significantly to its overall MoneyGeek score and reflecting its high-quality service and reliable insurance coverage.

State Farm is the top choice in Lafayette for exceptional customer service in car insurance, regardless of cost.

• State Farm: MoneyGeek score of 77 out of 100 ($1,954 per year)
• Progressive: MoneyGeek score of 66 out of 100 ($2,099 per year)

State Farm stands out due to its exceptional customer satisfaction and efficient claims handling, both key factors influencing its top MoneyGeek score. This makes it ideal for clients who value a responsive insurance provider, especially during critical situations.

State Farm is Lafayette's best affordable car insurance provider. It strikes a balance between cost efficiency and reliable service.

• State Farm: MoneyGeek score of 80 out of 100 ($857 per year)
• Progressive: MoneyGeek score of 76 out of 100 ($716 per year)

State Farm also excels in claims handling and customer satisfaction. Its high MoneyGeek score proves its ability to provide cost-effective minimum coverage policies while focusing on customer service, ideal for budget-conscious drivers seeking quality service.

Lafayette's average annual car insurance cost is $2,369, more expensive than the state average of $2,593 — a $224 difference. Louisiana's average exceeds the national average by $812.

Location impacts insurance costs, with insurers factoring in claim frequency and risk. For instance, New Orleans' average annual premium is $1,328 more expensive than Shreveport's. Urban areas with higher traffic often face higher premiums, while less populated areas get lower rates due to lower traffic density.