Top 10 Ways to Save Money on Auto Insurance in Shreveport

Paying for high-priced auto insurance can drain your checking account and force you to prioritize other expenses. Doing a price comparison is a great way to cut your insurance bill.

Numerous insurance companies battle for your hard-earned dollar, so it can be very hard to choose a insurance company and get the best coverage at the lowest rate possible.

If you currently have a car insurance policy, you stand a good chance to be able to lower your premiums substantially using this information. Finding the best rates in Shreveport is easy if you know what you’re doing. But Louisiana drivers must learn the methods companies use to market insurance on the web.

Discounts are basically free money

Companies that sell car insurance do not list all their discounts very well, so we break down both well-publicized and the harder-to-find auto insurance savings.

• Anti-theft System – Vehicles with anti-theft systems help deter theft and qualify for as much as a 10% discount.
• Drivers Ed for Students – Make teen driver coverage more affordable by requiring them to enroll in driver’s education if offered at their school.
• Multi-policy Discount – When you have multiple policies with the same company you will save 10% to 20% off each policy.
• Memberships – Affiliation with a qualifying organization is a good way to get lower rates on your policy.
• 55 and Retired – Older drivers may be able to get reduced rates.
• No Accidents – Good drivers with no accidents can earn big discounts when compared with bad drivers.
• Anti-lock Brake Discount – Anti-lock brake equipped vehicles are safer to drive and earn discounts up to 10%.
• Seat Belts Save more than Lives – Using a seat belt and requiring all passengers to use their safety belts can save up to 15% off the personal injury premium cost.
• Auto/Life Discount – Some companies give better rates if you take out a life insurance policy as well.
• Payment Method – If you pay your bill all at once instead of monthly or quarterly installments you may reduce your total bill.

A little note about advertised discounts, most discount credits are not given to all coverage premiums. Most only cut individual premiums such as liability and collision coverage. Even though it may seem like you can get free auto insurance, it just doesn’t work that way.

To see a list of providers with discount auto insurance rates in Louisiana, click here to view.

Auto insurance coverage information

Knowing the specifics of your auto insurance policy can help you determine the best coverages and proper limits and deductibles. The terms used in a policy can be confusing and reading a policy is terribly boring. Shown next are typical coverages available from auto insurance companies.

Medical expense insurance – Personal Injury Protection (PIP) and medical payments coverage pay for immediate expenses for EMT expenses, doctor visits and chiropractic care. They can be used to fill the gap from your health insurance policy or if there is no health insurance coverage. Coverage applies to all vehicle occupants and also covers being hit by a car walking across the street. Personal Injury Protection is not universally available and may carry a deductible

Comprehensive (Other than Collision) – Comprehensive insurance coverage covers damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first then your comprehensive coverage will pay.

Comprehensive coverage pays for things such as hitting a bird, fire damage and vandalism. The highest amount you can receive from a comprehensive claim is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.

Protection from uninsured/underinsured drivers – Your UM/UIM coverage protects you and your vehicle when other motorists either have no liability insurance or not enough. Covered claims include hospital bills for your injuries and also any damage incurred to your vehicle.

Because many people have only the minimum liability required by law (15/30/25), it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage is a good idea.

Liability auto insurance – This will cover damage that occurs to a person or their property that is your fault. Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see liability limits of 25/50/25 that translate to $25,000 in coverage for each person’s injuries, a total of $50,000 of bodily injury coverage per accident, and a total limit of $25,000 for damage to vehicles and property.

Liability can pay for things like structural damage, medical services, court costs, funeral expenses and medical expenses. The amount of liability coverage you purchase is a personal decision, but buy as high a limit as you can afford. Louisiana state minimum liability requirements are 15,000/30,000/25,000 but drivers should carry more liability than the minimum.

Collision coverages – Collision insurance covers damage to your vehicle resulting from a collision with an object or car. A deductible applies and the rest of the damage will be paid by collision coverage.

Collision coverage protects against things like hitting a mailbox, backing into a parked car, driving through your garage door and sideswiping another vehicle. Collision is rather expensive coverage, so consider removing coverage from lower value vehicles. Drivers also have the option to increase the deductible to save money on collision insurance.

To learn even more about auto insurance

More detailed Louisiana auto insurance information can be read at the Louisiana Department of Insurance website. Louisiana consumers can view agent and company licensing information, find out industry alerts, and read state legal mandates and laws.

Additional helpful sites include this site for Louisiana auto insurance information and this page for help finding agents in Shreveport, LA.

A little work can save a LOT of money

As you prepare to switch companies, you should never skimp on coverage in order to save money. There are many occasions where an insured cut uninsured motorist or liability limits and found out when filing a claim that their decision to reduce coverage ended up costing them more. Your focus should be to purchase plenty of coverage at a price you can afford while not skimping on critical coverages.

You just read some good ideas how to save on auto insurance. The key concept to understand is the more price quotes you have, the more likely it is that you will get a better rate. You may even discover the lowest premiums are with a company that doesn’t do a lot of advertising. These smaller insurers may cover specific market segments cheaper than their larger competitors like Allstate or State Farm.

Lower-priced auto insurance can be found online and also from your neighborhood Shreveport agents, and you should compare price quotes from both in order to have the best price selection to choose from. Some auto insurance companies may not provide the ability to get a quote online and many times these small insurance companies only sell through independent insurance agents.