Louisiana auto insurance affordability has recently seen a slight improvement, dropping to 2.67 percent of the median household income in 2022 from 2.93 percent in 2020.Despite this positive shift, Louisiana still holds the unfortunate distinction of being the least affordable state for auto insurance, according to experts from the Insurance Research Council.
Louisiana auto insurance affordability is a pressing concern for many residents, as the state consistently ranks as the least affordable among its Southern counterparts and across the United States.In 2022, the average annual premium for auto insurance in Louisiana soared to $1,588, a staggering 40% above the national average, making it difficult for families to manage their insurance costs.
When it comes to Louisiana auto insurance affordability, residents face unique challenges that stem from a combination of high costs and low median household income.In 2022, auto insurance expenses accounted for 2.67 percent of the median income, a slight improvement from 2.93 percent in 2020, yet Louisiana remains the least affordable state for auto coverage.
