Cheapest Car Insurance Quotes in Banks Springs

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Banks Springs Car Insurance

^$ 36

/mo

Written by Sara Sam

Edited by Renee Martin

Why you can trust Way?

The auto insurance rates published in this guide are based on the results of research completed by Way’s data team. Using a mix of public and internal data, we analyzed millions of rate averages across U.S. ZIP codes. These rates were publicly sourced from insurer filings and should be used for comparative purposes only — your own quotes will differ. Given this, it’s important to go through our insurance steps form to find how much you can save with Way.

Table of Contents

How Much Is Car Insurance in Banks Springs

The car insurance rate in Banks Springs is $1402 for a six-month policy, which is $105 lower than the higher than the state average. Root Insurance Company offers the lowest rates in the city at $453, making it a popular choice for budget-conscious drivers. Rates in Banks Springs can vary depending on your age, driving record, and coverage level, so not every driver will pay the same amount. Choosing a higher deductible, maintaining a clean driving history, and comparing quotes from multiple insurers can help you find better deals and save money over time.

Avg. Car Insurance in Banks Springs

$1402

Avg. Car Insurance in Louisiana

$1507

National Average

$1140

Cheapest Car Insurance Companies in Banks Springs

1st place: Louisiana Farm Bureau

At $453 for a six month policy, Louisiana Farm Bureau offers the cheapest auto insurance rates in the city.

2nd place: Farm Bureau

Farm Bureau offers auto insurance rates at $989 for a six-month policy, making it one of the cheapest to insure with.

3rd place: Southern Farm Bureau

Southern Farm Bureau offers auto insurance rates at $1028 for six months, making it the third cheapest auto insurance company in Banks Springs.

Banks Springs Car Insurance Rates by Company

Based on our research, the cheapest car insurance company in Banks Springs, LA is Louisiana Farm Bureau, offering policies at just $453 for a six-month term. This is followed by Farm Bureau, which has an average six-month premium of $989.

At the higher end of the spectrum, Allstate is the most expensive, with rates reaching $2000 for a six-month policy. Rates can vary widely by driver, but comparing quotes from multiple companies can help Banks Springs drivers find the best deals.

Cheap Car Insurance Companies in Banks Springs, LA

Company	Avg. 6 Mo. Premium	Avg. Monthly Premium
Louisiana Farm Bureau	$453	$75
Farm Bureau	$989	$166
Southern Farm Bureau	$1028	$171
USAA	$1336	$225
Progressive	$1469	$247
State Farm	$1558	$262
Safeway	$1635	$275
SafeAuto	$1757	$299
Encompass	$1796	$299
Allstate	$2000	$337

Key Takeaways

Way's key takeaways about car insurance in Banks Springs

The auto insurance costs in Banks Springs fall around $453 for six months.
The cheapest auto insurance company in Banks Springs is Louisiana Farm Bureau.
Teen drivers pay the highest rate in Banks Springs at $116 per month.

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Cheapest Minimum Liability Car Insurance in Banks Springs

Since car insurance is a critical requirement for owning a car, you must have minimum liability car insurance. The cheapest car insurance companies for minimum coverage in Banks Springs are given below.

Louisiana Farm Bureau provides the cheapest minimum car insurance coverage in Banks Springs. Their Average 6 Month Premium is $216. AAA is the most expensive at $447 for the same period.

Cheapest Liability Coverage in Banks Springs, LA

Company	Avg. 6 Mo. Premium	Avg. Monthly Premium
Louisiana Farm Bureau	$216	$36
Farm Bureau	$337	$57
Southern Farm Bureau	$359	$60
State Farm	$442	$74
USAA	$442	$74
Progressive	$464	$78
Allstate	$602	$101
SafeAuto	$630	$107
Safeway	$663	$112
AAA	$447	$74

Cheapest Full Coverage Car Insurance in Banks Springs

One might think that minimum coverage is only required when insuring your car insurance. However, having full coverage car insurance in any city is certainly a wise choice as it offers better coverage and protection. Our best pick for the cheapest auto insurance quotes in Banks Springs is Louisiana Farm Bureau at $75 per month and $453 for six months.

Cheapest Full Coverage Car Insurance Quotes in Banks Springs, LA

Company	Avg. 6 Mo. Premium	Avg. Monthly Premium
Louisiana Farm Bureau	$453	$75
Farm Bureau	$989	$166
Southern Farm Bureau	$1028	$171
USAA	$1336	$225
Progressive	$1469	$247
State Farm	$1558	$262
Safeway	$1635	$275
SafeAuto	$1757	$299
Encompass	$1796	$299
Allstate	$2000	$337

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Average Car Insurance in Banks Springs by Rating Factor

The car insurance rates for two people under the same ZIP code will mostly be different. This is mostly because insurance rates are calculated based on several rating factors. These rating factors include the driver's age, gender, marital status, driving and claims history, credit score, location, type of vehicle, and coverage levels.

I have a clean driving record. Why is my car insurance rate here in Banks Springs, LA increasing?

Despite maintaining a clean driving record, your car insurance rates in Banks Springs, Louisiana, may be increasing due to several external factors. Louisiana has experienced significant rate hikes recently, with average premiums rising by 25.5% in 2023, largely attributed to higher claims volumes and inflation.

Additionally, Banks Springs's high urban population density, raised auto theft rates, and frequent natural disasters contribute to increased insurance costs.

Car Insurance Premiums by Age in Banks Springs

It is quite evident why teen drivers pay the highest car insurance rates in any city. Their lack of experience and increased accident rates make them a highly risky category. However, as you grow older, your car insurance rates will decrease. So, it is better to not have separate policies for teens; instead, add them to their parents' policies.

Cheapest Car Insurance Companies Based on Age Group

Age Group	Cheapest Companies	Avg. 6 Mo. Premium
20s	USAA	$928
30s	USAA	$753
40s	USAA	$694
50s	USAA	$663
60s	USAA	$708
70s	USAA	$725

Cheapest Car Insurance Rates for Teen Drivers in Banks Springs,LA

If you are planning to get a car insurance policy for your teenage dependent, Louisiana Farm Bureau provides the cheapest car insurance in the Banks Springs at $59 per month. At $685 for a six-month premium, AAA offers the most expensive rate for teen drivers.

Company	Avg. 6 Mo. Premium	Avg. Monthly Premium
Louisiana Farm Bureau	$353	$59
Farm Bureau	$1552	$264
State Farm	$1994	$336
USAA	$2531	$431
Safeway	$3850	$642
Allstate	$4138	$703
Progressive	$4375	$737
AAA	$685	$116

Teen Car Insurance Rates in LA by Age

Way Tip

If you are in your twenties USAA is the best choice for car insurance in Banks Springs.

As young drivers face the highest rates in Banks Springs, USAA offers the cheapest auto insurance rates at $928 for six months.

Car Insurance Rates by Credit Score & Driving History

Similar to your driving history, your financial history also plays a key role in determining your auto insurance rates. A low credit score would mean a lapse in payment and increased chances of filing claims, which results in higher auto insurance rates. Therefore, the higher the credit score, the lower the car insurance rates will be.

Cheapest Car Insurance Companies for Bad Credit

For those with poor credit scores in Banks Springs, Louisiana Farm Bureau is the cheapest car insurance provider. At $387 for a six-month premium, they offer the best rates in the city. The most expensive auto insurance rate for drivers with bad credit in Banks Springs is State Farm, offering rates of around $6038 for six months.

Company	Avg. 6 Mo. Premium	Avg. Monthly Premium
Louisiana Farm Bureau	$387	$66
Allstate	$1370	$229
Farm Bureau	$1430	$244
Safeway	$1597	$266
Progressive	$1613	$272
USAA	$1674	$279
State Farm	$6038	$1027

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Car Insurance Rates with An Accident in Banks Springs

Both accidents and the resulting increase in insurance rates are often beyond our control. When you’re involved in an accident, you become riskier to insure, consequently increasing the rates. In Banks Springs, LA, accidents can lead to significant hikes in your premiums.

Cheapest Car Insurance Companies after an At-Fault Accident in Banks Springs

The cheapest car insurance companies after an at-fault accident in Banks Springs include Louisiana Farm Bureau and State Farm, offering $282 and $840, respectively. Allstate is an expensive provider with an average six-month premium of $1552.

Company	Avg. 6 Mo. Premium	Avg. Monthly Premium
Louisiana Farm Bureau	$282	$47
State Farm	$840	$141
Farm Bureau	$1022	$170
USAA	$1149	$193
Progressive	$1232	$207
Safeway	$1415	$238
Allstate	$1552	$261

Banks Springs Car Insurance Rates by Violation

Here is a list of driving violations that can increase your car insurance rates in Banks Springs LA. For example, the car insurance in Banks Springs after a DUI increases to $1315 for a six month policy. While the rate increases by $382 for a six-month policy in the case of a speeding ticket.

Banks Springs auto insurance quotes by violations

Accident/Violation	Avg. 6 Mo Premium	Avg. Monthly Premium
None	$1524	$254
One Med/PIP claim	$1524	$259
Two Med/PIP claims	$1541	$257
Not-at-fault accident	$1547	$263
One comp claim	$1552	$259
Two comp claims	$1608	$273
Failure to wear a seat belt	$1796	$299
Failure to show documents	$1817	$309
Child safety restraint	$1845	$308
Driving without lights	$1845	$313
Driving with expired registration	$1879	$313
Driving too slowly	$1906	$324
Speeding 11 - 15 MPH over limit	$1906	$318
Speeding 16 - 20 MPH over limit	$1906	$324
Speeding 6 - 10 MPH over limit	$1906	$318
Speeding in school zone	$1906	$324
In 65 MPH zone	$1911	$319
Cell phone violation	$1928	$327
Texting while driving	$1928	$322
Wrong way/wrong lane	$1928	$327
At-fault accident - less than $1000	$1939	$323
Failure to stop at a red light	$1939	$330
Failure to yield	$1939	$323
Following too closely	$1939	$330
Illegal turn	$1939	$323
Improper passing	$1939	$330
Passing school bus	$1956	$326
Speeding 21 - 25 MPH over limit	$1956	$333
Open container	$2011	$335
Operating a vehicle without permission	$2149	$365
At-fault accident - $1000-$2000	$2204	$367
At-fault accident - greater than $2000	$2204	$375
Reckless driving	$2663	$444
Refusal to submit to a chemical test	$2707	$460
DUI	$2839	$473
Racing	$2862	$486
Leaving scene of an accident/hit and run	$2884	$481
Driving with a suspended license	$2895	$492

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Way Tip

Avoid Having A DUI On Your Driving Record.

A DUI can increase your car insurance rates—by $5,000 to $10,000 over five years. Speeding, reckless driving, and at-fault accidents also raise rates, staying on your record for 3–5 years, while DUIs/DWIs can impact you longer.

Car Insurance Rates in Banks Springs after a DUI

There may have been times when you drank but chose not to drive—a smart and responsible decision, as most states treat DUIs as a serious offense. Your car insurance rates can double after a DUI charge, making it harder to find affordable coverage in Banks Springs.

The cheapest car insurance premiums in Banks Springs are offered by Louisiana Farm Bureau at $310 for a six-month policy. However, it can be as expensive as $751 with companies like AAA.

Banks Springs car insurance quotes with a DUI

Company	Avg. 6 Mo. Premium	Avg. Monthly Premium
Louisiana Farm Bureau	$310	$53
Farm Bureau	$1060	$177
Southern Farm Bureau	$1276	$217
Progressive	$1453	$245
USAA	$1978	$333
Safeway	$1983	$334
State Farm	$2039	$343
Allstate	$2475	$417
AAA	$751	$127

Cheapest car insurance after a speeding ticket

One of the easiest ways to save money on car insurance is to stay within the speed limit. After a speeding violation, the cheapest car insurance premiums in Banks Springs are offered by Louisiana Farm Bureau at $254. However, it can be as expensive as $1774 with companies like Allstate for a similar six-month premium.

Cheapest Car Insurance in Banks Springs after Speeding ticket

Company	Avg. 6 Mo. Premium	Avg. Monthly Premium
Louisiana Farm Bureau	$254	$43
State Farm	$862	$145
Farm Bureau	$906	$154
Progressive	$1204	$203
USAA	$1326	$225
Safeway	$1635	$272
Allstate	$1774	$301

Car Insurance Price Trends in Banks Springs, Louisiana

Car insurance rates in Banks Springs have fluctuated due to factors such as state regulations, inflation, and changing driving habits.

The average cost of full coverage in the Banks Springs rose by $282 in December compared to $278 of November. In other words, there has been an increase by $4 when you compare December and November.

The average cost of liability insurance in the Banks Springs rose to $77 in December, compared to $71 in November. This represents an increase of $6 when comparing December and November.

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Frequently Asked Questions

How much is car insurance in Banks Springs?

The car insurance in Banks Springs is $36 per month, which is lower than the national average.

What is the cheapest car insurance in Banks Springs?

The cheapest car insurance in Banks Springs is $75 per month for full coverage.

How much is car insurance in Banks Springs for teenagers?

Car insurance for teenagers costs $353 per 6 months. The rates for teen drivers are higher due to their lack of experience as drivers.

What's the average cost of car insurance in Banks Springs?

The average cost of car insurance is $1507 for a six-month policy. It will cost around $235 per month to insure your car in Banks Springs.

Is car insurance expensive in Banks Springs?

Car insurance can be expensive in Banks Springs if your rating factors are not favorable. However, with a clean driving record and good credit score, car insurance rates in Banks Springs can be affordable.

What is the best car insurance in Banks Springs, LA?

The best car insurance company in Banks Springs LA is Louisiana Farm Bureau, offering $453 for a six-month policy.