Who Has Affordable Auto Insurance for Drivers Over Age 60 in Lexington?

The type of vehicle you are insuring is one of the largest factors that determines whether or not you can buy the most economical car insurance for drivers over age 60. Vehicles with high performance features, poor crash test ratings, or a history of substantial liability claims will cost quite a bit more to insure than safer, lower-performance models. The list below presents coverage premiums for some of the cheapest automobiles to insure.

Cheapest Vehicles to Insure in Lexington, KY
Vehicle Make and Model Estimated Cost for Full Coverage
Honda Accord EX 4-Dr Sedan $854
Ford Escape XLS 2WD $860
Honda CR-V EX-L 2WD $873
Hyundai Elantra SE Touring Station Wagon $928
Toyota Prius $945
Jeep Grand Cherokee Laredo 4WD $1,012
Toyota RAV4 Limited 4WD $1,019
Chevrolet Malibu LS $1,012
Chevrolet Equinox LT AWD $1,019
Toyota Camry LE $1,012
Dodge Grand Caravan Crew $1,029
Ford Explorer Limited 4WD $1,037
Toyota Tacoma Double Cab 4WD $1,029
Ford F-150 FX2 2WD $1,037
Jeep Wrangler Unlimited Sahara 2WD 4-Dr $1,042
Ford Focus SES 4-Dr Sedan $1,046
Chevrolet Impala LTZ $1,065
Honda Odyssey EX-L $1,072
Ford Edge Sport 2WD $1,065
Toyota Corolla LE $1,074
GMC Sierra SLE Crew Cab 2WD $1,082
Volkswagen Jetta SE 4-Dr Sedan $1,091
Ford Fusion SE 4-Dr Sedan $1,082
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Cost estimates assume single male driver age 60, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Kentucky minimum liability limits. Discounts applied include multi-policy, multi-vehicle, homeowner, safe-driver, and claim-free. Estimates do not factor in vehicle location which can lower or raise prices noticeably.

By looking at the data, we can assume that models like the Honda Accord, Ford Escape, Honda CR-V, Hyundai Elantra, and Toyota Prius are a few of the most budget-friendly vehicles to insure for older drivers.

One of the many components that are looked at to determine the amount you pay each year for auto insurance is your zip code in Lexington. Cities with larger populations tend to have more expensive auto insurance rates, whereas areas with fewer weather claims and lower vehicle theft rates tend to receive cheaper rates.

The illustration below lists the most expensive places in Kentucky for drivers over age 60 in which to buy car insurance. Lexington ranks #15 with an annual cost of $1,499 for the average policyholder, which is around $125 per month.

How much is car insurance in Lexington?
Rank City Annual Premium
1 Louisville $2,112
2 Frankfort $1,778
3 Jeffersontown $1,719
4 Saint Matthews $1,694
5 Ashland $1,656
6 Radcliff $1,654
7 Paducah $1,647
8 Madisonville $1,616
9 Murray $1,613
10 Danville $1,596
11 Winchester $1,563
12 Elizabethtown $1,547
13 Hopkinsville $1,523
14 Henderson $1,511
15 Lexington $1,499
16 Georgetown $1,491
17 Independence $1,480
18 Bowling Green $1,476
19 Richmond $1,475
20 Nicholasville $1,474
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Premium costs are comparative as the specific area where the vehicle is garaged can change premium rates significantly.

Types of discounts on Lexington insurance

Save on auto insurance for older drivers in LexingtonInsurers that offer quotes for drivers over age 60 may also provide rate discounts that may potentially lower prices by 40% or more if you qualify for them. Popular auto insurance companies and some of the discounts are:

The example below illustrates the difference between auto insurance costs with and without discounts. The data is based on a female driver, no accidents or driving violations, Kentucky state minimum liability limits, comp and collision included, and $250 deductibles.

The first bar for each age group shows premium with no discounts. The second bar shows the rates with homeowner, defensive driving course, passive restraint, safe-driver, marriage, and multiple policy discounts applied. When these discounts are applied to the policy premium, theaverage amount saved on auto insurance for drivers over age 60 is 29% or $640.

Full coverage rates compared to liability only

Lowering the price of auto insurance should be important to most vehicle owners, and a good way to save on the cost of insurance for drivers over age 60 is to not pay for full coverage. The example below shows the comparison of auto insurance rates with full coverage and liability only. The prices are based on no claims, a clean driving record, $500 deductibles, drivers are not married, and no discounts are taken into consideration.

If we average the cost for ages 20 through 70, comprehensive and collision coverage on your policy costs an additional $1,541 per year over and above liability only. Many of you may wonder if buying full coverage is a good investment. There is no definitive formula of when to phase out full coverage, but there is a general school of thought. If the yearly cost for physical damage coverage is about 10% or more of the replacement cost minus the deductible, then you might want to think about dropping full coverage.

There are some conditions where only buying liability is not in your best interest. If you haven’t paid off your loan, you must maintain physical damage coverage to protect the lienholder’s interest in the vehicle. Also, if your savings is not enough to buy a different vehicle if your current one is totaled, you should keep full coverage.

Selecting a highly-rated company is hard considering how many companies sell insurance in Lexington. The ranking information in the lists below may help you decide which car insurance companies to look at when shopping your coverage around.

The rankings below only include the largest companies in America, so companies that may only write in Kentucky will not be included in the list. If you would like to check rates from these and other top-rated companies, click this link.

Top 15 Auto Insurance Companies for Drivers Over Age 60 in Kentucky
Company Value Customer Service Claims Customer Satisfaction A.M Best Rating Overall Score
Travelers 93 98 99 88% A++ 95.1
USAA 83 99 100 91% A++ 94.1
AAA Insurance 91 95 92 90% A 93.3
Nationwide 85 95 97 89% A+ 92.4
Allstate 77 100 97 88% A+ 90.7
State Farm 80 94 96 88% A++ 90.6
The Hartford 88 93 91 87% A+ 90.4
Safeco Insurance 91 95 85 88% A 90.2
Progressive 88 94 83 88% A+ 90.1
American Family 91 86 95 83% A 89.7
Esurance 86 90 94 90% A+ 89.5
The General 86 93 89 84% A- 88.2
GEICO 79 89 95 87% A++ 87.8
21st Century 86 82 90 84% A 86.4
Liberty Mutual 79 87 95 78% A 85.3
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Data Source: Insure.com Best Car Insurance Companies