FOR IMMEDIATE RELEASE
November 17, 2016
Louisiana Families Encouraged to Compare Auto and Homeowner Insurance Rates for the Best Protection
Most would agree that their home and automobile are the two most expensive purchases they have ever made and protecting these assets is essential. Because making sure you have the right homeowners and auto policies at the best price is so important, the Louisiana Department of Insurance (LDI) releases updated Homeowners and Auto comparison guides each year.
“My hope is that these guides will assist policyholders in finding the best policies available to cover their homes and vehicles at the most affordable cost they can find,” said Insurance Commissioner Jim Donelon. “These guides are a good starting point and you can contact an agent to help you secure the right policy for you.”
The online comparison guides are available as both an interactive search tool called
Shop Your Rates and as a printable spreadsheet for easy comparison. Both formats allow you to compare rates submitted by carriers writing homeowners and auto insurance in Louisiana for a variety of scenarios. In the
Homeowners Rate Guide, the premium quotes are based on variables including the home’s location, price, size, age, construction type, as well as the owner’s claims history, credit score, and factors such as wind mitigation and multiline discounts.
In the
Auto Rate Guide, premiums are based on variables such as location, gender, age, marital status and accident history. Rates are displayed for liability only coverage which is the minimum required by law, and for full coverage which includes liability, collision and comprehensive coverage.
“As many found out in the recent flooding, the minimum liability coverage required by law does not cover events such as flood, fire or theft,” said Donelon. “I encourage every vehicle owner to shop auto rates and consider purchasing a full coverage policy to protect themselves more fully if they can afford to. It is especially important for families to explore their auto insurance options as finding affordable auto insurance has become a challenge nationwide.”
Keep in mind these examples are illustrative only and will rarely reflect all of your individual circumstances. When shopping for insurance, look for a company that has a history of good service. You can contact the LDI to find out if any complaints have been filed against the company you’re considering. You can ask your agent for the company’s rating which shows the financial strength of the company and its ability to meet obligations to policyholders.