By: Ishan Mukhopadhyay Jul. 19, 2018

A recent survey of car insurance policies in New Orleans, LA, demonstrated that the cheapest premium rate of $225 is offered by Pharmacists Mutual Insurance Corporation to 60-year-old married women with one at-fault accident in the last 18 months. The study shows that premium rates are influenced by a driver’s background and driving records. The cheapest premium rates were analyzed among all the driver cohorts and were found to range from $225 to $882. Pharmacists Mutual Insurance Corporation offers a premium of $882 for 18-year-old single men with one at-fault accident in the last 18 months.

The differences between the cheapest and median premiums vary between $2,572 and $416. Eighteen-year-old single men with one at-fault accident in the last 18 months can gain the highest savings by investing in the right company, since the price deviation between the median and cheapest premium rates is the greatest for this cohort, at $2,572. The median policy for this group of drivers is provided by Great Northern Insurance Corporation at $3,454. The most expensive premium is offered by Encompass Insurance Corporation of America, at $9,325.

For 18-year-old single women with one at-fault accident in the last 18 months, the most expensive premium is offered by Encompass Indemnity Corporation, at $6,839. Our study shows that this group of drivers has the second highest probability of being involved in an accident.

However, buyers can save up to $7,314 by choosing a company with rates below or equal to the median premium rate for this cohort of $2,911.

Our study shows that 3 of the 7 driver cohorts analyzed were offered the cheapest premiums by Pharmacists Mutual Insurance Corporation, while 2 were offered the second cheapest rates by this company. Encompass Insurance Corporation offers the most expensive premiums for 2 cohorts, while Amica Mutual Insurance Corporation offers the most expensive premiums for 2 others.

The following graph shows a comparison of premium rates across companies for New Orleans, LA.

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The following table compares the car insurance premiums for key companies in New Orleans, LA, along with the names of the companies and the differences between the median and cheapest or most expensive rates.

CohortCheapest Car Insurance Companies in New Orleans, LASecond Cheapest Car Insurance Companies in New Orleans, LAMedian Car Insurance Companies in New Orleans, LAMost Expensive Car Insurance Companies in New Orleans, LASecond Most Expensive Car Insurance Companies in New Orleans, LADifference b/w Cheapest and Median PricesDifference in Price from Most Expensive to Median Prices
18-year-old single men with one at-fault accident in the last 18 monthsPharmacists Mutual Ins. Co. ($882)Auto Club Family Ins Co ($920)Great Northern Ins. Co. ($3,454)Encompass Property & Casualty Co. ($11,560)Encompass Ins. Co. of America ($9,325)$2,572$8,106
60-year-old married women with one at-fault accident in the last 18 monthsPharmacists Mutual Ins. Co. ($225)USAA General Indemnity Co. ($277)Teachers Ins. Co. ($641)La. Auto Insurance Plan ($2,402)Amica Mutual Ins. Co. ($1,932)$416$1,761
48-year-old single women with no at-fault accident in the last 18 monthsAuto Club Family Ins Co ($507)Hartford Accident & Indemnity Co. ($620)Federal Ins. Co. ($1,619)Permanent General Assurance Corp. (Old Program) ($5,254)Amica Mutual Ins. Co. ($4,292)$1,112$3,635
30-year-old married men with no at-fault accident in the last 18 monthsAllstate Ins. Co. ($317)Pharmacists Mutual Ins. Co. ($345)Lyndon Southern Ins. Co. (Program 3.0) ($741)La. Auto Insurance Plan ($2,937)Encompass Ins. Co. of America ($2,296)$424$2,196
21-year-old single men with two at-fault accident in the last 18 monthsPharmacists Mutual Ins. Co. ($732)Auto Club Family Ins Co ($828)Property & Casualty Ins. Co. of Hartford ($2,551)La. Auto Insurance Plan ($9,878)Encompass Property & Casualty Co. ($8,854)$1,819$7,327
21-year-old single women with two at-fault accidents in the last 18 monthsAuto Club Family Ins Co ($666)Pharmacists Mutual Ins. Co. ($851)21st Century Centennial Ins. Co. (New Program) ($2,311)Encompass Property & Casualty Co. ($8,873)Imperial Fire & Casualty Ins. Co. (Classic Program) ($6,156)$1,645$6,562
18-year-old single women with one at-fault accident in the last 18 monthsAuto Club Family Ins Co ($673)Pharmacists Mutual Ins. Co. ($820)GoAuto Ins. Co. (New Program) ($2,911)Encompass Property & Casualty Co. ($10,225)Encompass Indemnity Co. ($6,839)$2,238$7,314


ABOUT THE AUTHOR

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Ishan Mukhopadhyay

Ishan has over 5 years of experience as a freelance journalist and a content writer. He graduated from The English and Foreign Languages University and holds a Masters degree from the University of Hyderabad. Apart from the English language, Ishan's other passion is data driven journalism.

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