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UPDATED: Jan 10, 2019
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Other than the fact that every driver is required to have continuing Shreveport car insurance coverage when driving in Louisiana, the most basic car insurance requirement is that which dictates the minimum levels of liability that will satisfy state car insurance requirements.
New minimum levels of car insurance in the state of Louisiana went into effect as of January 1, 2010. After that date, Shreveport drivers and those throughout the state of Louisiana are required to carry insurance at least equal to 15/30/25 levels. Every driver must have ongoing coverage.
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Minimum Car Insurance Requirements
- $15,000 per-person liability
- $30,000 total liability per accident
- $25,000 property damage coverage per accident
These relatively low levels of Shreveport car insurance may be partly responsible for the high premiums in Louisiana. Per-person liability levels of only $15,000 cannot begin to cover the medical expenses of anyone seriously injured in an auto insurance accident.
If low liability requirements result in greater numbers of lawsuits for additional monetary awards, then it follows that Shreveport car insurance premiums would be higher where lawsuits are likely and more common.
Shreveport Car Insurance Laws
As is the case in other states, the car insurance laws that affect drivers in Shreveport are established at the state level.
Louisiana state law dictates minimum coverage levels, requirements for drivers to maintain proper documentation, and how individual coverage is reported to the state.
Car insurance companies in Louisiana are required by law to notify the state whenever an individual driver allows his car insurance to lapse.
Shreveport Car Insurance Companies
Every car insurance company licensed to do business in Louisiana may not choose to maintain a physical presence in Shreveport, or even within the Shreveport-Bossier City metropolitan statistical area.
Instead, there are some licensed Shreveport car insurance companies that maintain only contractor adjustors in Shreveport and the surrounding areas.
Shreveport car insurance companies that operate only online often use contracted adjusters rather than investing in a standalone office in these tough economic times. Some of the country’s largest car insurance companies do maintain a physical presence in Shreveport and the surrounding area.
There are at least 65 car insurance agencies in Shreveport and the neighboring Bossier City.
About half of those agencies are in Shreveport. Most of them are attached to a specific car insurance company, but others are not. Those agencies that are not attached to a specific Shreveport car insurance company are independent agents, meaning that they can offer the products of any insurance company licensed in the state of Louisiana.
An independent agent is not obligated to any specific car insurance company, so they are able to suggest service providers of their choice.
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Average Shreveport Car Insurance Rates
Louisiana has the dubious honor of having the second highest average car insurance rates in the country, second only to the District of Columbia. The average car insurance premium in the nation’s capital is $1,126. Given DC’s size and high crime rates, that higher premium is quite understandable.
When it comes to other states, North Dakota, for example, has the lowest car insurance rates out of all 50 states. However, the average annual car insurance premium in Louisiana is $1,105.
That premium is much more difficult to explain, however, at least in terms of the size of the local population and the rural characteristics of surrounding areas. But it is worth noting that the same level of coverage purchased for $1,105 in Louisiana costs only $503 in North Dakota.
Shreveport Driving and Car Insurance Statistics
The only data that is readily available regarding accidents in Shreveport is the number of traffic fatalities that occurred there in 2008.
Local officials reported to the Fatality Analysis Reporting System (FARS) that there were 34 traffic fatalities in Shreveport in 2008 and that the average speed of the involved vehicles was 35 miles per hour. Of those fatal crashes, 74.19 percent were caused by males.
Only 25.81 percent were caused by females. Thus, any Shreveport driver can expect the supposed gender bias to hold true in Shreveport and the surrounding areas. Men — and particularly young men — can expect to pay significantly higher premiums than women in Shreveport.
Compare Shreveport Car Insurance Quotes
One industry observer states that it is critical that individuals periodically review and compare car insurance rates in their local areas. Premium car insurance rates can vary widely, but there is always at least one constant, which is that insurance companies want to retain the customers they have.
It is costly to attract and retain new customers long enough to refer to them as established or long-term customers.
If the individual comparing Shreveport car insurance rates finds a lower quote from a competing company and takes it to his current car insurance company, chances are that the current company will choose to meet the competitor’s quote rather than lose the customer.
Car insurance quote comparison clearly benefits the individual driver, but it benefits the Shreveport car insurance company as well. Both customers and providers benefit from free market competition.
The driver is able to save some money, and the company is obliged to increase the quality of its internal management so that it can operate profitably with less revenue.
Generally, it is advisable for individuals to compare Shreveport car insurance premiums every year or two.
Even where external conditions remain rather constant, as is the case in Shreveport, changes in the industry across the country can and do affect local conditions and pricing.
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