By: Ishan Mukhopadhyay Sept. 03, 2018

Raltin’s analysis of the top four car insurance companies by market share showed that for all seven of the driver cohorts analyzed USAA Casualty Insurance Company offers cheaper than median premium prices, in the city.  For this analysis, Raltin picked the top five auto insurance companies based on the 2016 NAIC report: State Farm Mutual Automobile Insurance Company, Allstate Fire and Casualty Insurance Company, Progressive Paloverde Insurance Company, and USAA Casualty Insurance Company.

A comparative study of their policies disclosed that the cheapest premium rate compared to the median is offered by USAA Casualty Insurance Company. For 60-year-old married women with a driving record of one at-fault accident in the past 18 months, the deviation from the median is as much as $958. Second is State Farm Mutual Automobile Insurance Company, which offers 18-year-old single women with one at-fault accident in the past 18 months a premium that differs by $480 from the median. Raltin’s study considered the bodily injury per person limit, bodily injury per accident limit, and property damage per accident limit as $15,000, $30,000, and $30,000, respectively. In addition, the uninsured motorist liability was $15,000 and uninsured motorist liability per accident limit was taken to be $ 30,000. In addition, the analysis focuses on the 2011, 2014, and 2017 models of the Toyota Camry.

The following table lists the seven driver cohorts, median premium rate for each cohort, and premiums charged by companies with the highest market share in Shreveport, LA.

CohortMedianState Farm Mutual Automobile Insurance CompanyAllstate Fire and Casualty Insurance CompanyProgressive Paloverde Insurance CompanyUSAA Casualty Insurance Company
21-year-old single women with two at-fault accidents in the past 18 months$524$40$123$72$240
60-year-old married women with one at-fault accident in the past 18 months$2294$324$196$114$958
30-year-old married men with no at-fault accident in the past 18 months$1,884$361$133$165$706
18-year-old single women with one at-fault accident in the past 18 months$1,498$480$252$195$602
18-year-old single males with one at-fault accident in the past 18 months$463$73$209$18$199
48-year-old single women with no at-fault accident in the past 18 months$1,720$487$30$38$705
21-year-old single men with two at-fault accidents in the past 18 months$1,071$94$208$22$158

*In the above table, the boxes in light red represent values greater than the median. The boxes in light green represent values lesser than the median.

State Farm Mutual Automobile Insurance Company offers premium insurance rates that are less than the median for six out of the seven driver cohorts. The cheapest it offers is for the 48-year-old female drivers’ cohort, whereas the most expensive premium is for 21-year-old single men with two at-fault accidents in the past 18 months, which is $94 greater than the median.

Allstate Fire and Casualty Insurance Company offers premiums that are higher than the median. Its most expensive premium is for 18-year-old single women with one at-fault accident in the past 18 months, which is $252 greater than the median.

Progressive Paloverde Insurance Company offers the cheapest premium rate for 60-year-old married women with one at-fault accident in the past 18 months, which is $114 less than the median. Its most expensive premium rate is $195 greater than its median rate offered for 18-year-old single women with one at-fault accident in the past 18 months.

Finally, USAA Casualty Insurance Company offers the cheapest car insurance premiums. Among the driver cohorts, 30-year-old married men with no at-fault accident in the past 18 months are offered the cheapest premium rates, followed by 60-year-old women. The premium rate for the former segment is $706 less than the median.

The following chart compares the car insurance premium rates of the four companies with the highest market share in Shreveport, Louisiana.

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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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