Lafayette is still considered somewhat of a college town. The city has seen a shift away from manufacturing towards the IT industry, which has helped diversity the economy. Parts of the surrounding area are still recovering from Hurricane Katrina, which also brought an influx of insurance claims. Because of the increased risk of tropical storms in Lafayette, consumers will probably pay slightly higher rates for full coverage. You can mitigate some of this increase by taking the time to comparison shop, exploring all the various options for cheap insurance Lafayette companies have to offer.
Ways to save in Lafayette:
- Determine your coverage needs: After your personal information is taken into account, your coverage needs have the greatest impact on the price you pay. Some companies will charge more for liability coverage, while others will charge more for physical damage. It all depends on the company’s actuarial, and where they see their greatest risk. So, once you decide the coverage you want/need, get as many quotes as you can until you find the company with the best rate for your needs.
- Consider Lafayette’s characteristics. The crime rate seems high, but the property crime rate (especially auto thefts) are fairly low. This can help keep insurance rates low. Traffic isn’t much of a problem either, but there aren’t a lot of other commute options. This means you will rely on your automobile more than you would in other cities, and this can raise your rates.
- In general the southwest portion of the town has less crime, which can equate to lower rates. The population patterns put most residents away from the major freeways, which is unusual, but helps keep liability rates lower.