Louisiana Makes Online Insurance Rate Comparisons Interactive

The Louisiana Department of Insurance (LDI) released an online rate comparison tool for auto coverage policyholders on Monday that helps them evaluate how much coverage could ultimately cost them among different insurers.

The system will give more power to policyholders, according to Jim Donelon, LDI’s commissioner, by allowing them to shop and conduct car insurance price comparisons themselves.

“It will put more information at people’s fingertips, saving them valuable time, and perhaps money,” Donelon said in a statement.

Donelon also said that consumers should not depend solely on the price of coverage in determining which policy to purchase.

“Remember, no matter how low the premium might be, an inexpensive policy does you no good if the insurance company cannot cover your claim after your car has been involved in an accident,” Donelon said in a consumer guide.

The interactive online comparison tool allows users to choose between different profiles of motorists and cars, ranging in gender, age and vehicle type. Users then apply their profile choice to cities in the state, yielding a sampling of rate quotes.

The examples and sample profiles aren’t meant to match the exact circumstances of all consumers using the online tool, according to the LDI, but instead are provided to “demonstrate the relative differences between companies in selected geographic markets, and provide an incentive for consumers to shop around.”

For example, a company listed in the interactive guide might not offer all coverage types or might limit them in certain ways for specific locations, according to the LDI, which added instructions for users of the online system to “contact your preferred insurance agent or company to receive an official premium quote” after reviewing rates listed through the comparison tool.

About John Pirro
John Pirro is a licensed fire and casualty insurance agent specializing in various aspects of the auto insurance industry. He worked in the auto body repair industry before taking a reporting position at Online Auto Insurance News.

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