Who Has Affordable Lexington Auto Insurance Rates for Real Estate Agents?

Deciphering which companies quote the lowest-priced car insurance rates for real estate agents may require a tad more effort in order to find the lowest price. Every insurance company has their own unique process to determine rates, so to begin we’ll rank the car insurance companies with the most affordable rates in Lexington.

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Rankings for the cheapest car insurance companies in Kentucky
Rank Company Cost Per Year
1 Cincinnati Insurance $1,115
2 Kentucky Farm Bureau $1,163
3 USAA $1,211
4 Auto-Owners $1,413
5 Motorists Mutual $1,553
6 Grange Mutual $1,609
7 Travelers $1,663
8 Westfield $1,814
9 State Farm $1,848
10 Safe Auto $1,932
11 Nationwide $2,064
12 Progressive $2,119
13 Electric $2,139
14 State Auto $2,188
15 Encompass $2,382
16 GEICO $2,437
17 Safeco $2,681
18 Shelter $3,167
19 MetLife $3,177
20 Liberty Mutual $3,708
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Cincinnati Insurance generally has some of the best car insurance rates in Lexington at around $1,115 per year. Kentucky Farm Bureau, USAA, Auto-Owners, and Motorists Mutual also make the cut as some of the cheaper Lexington, KY car insurance companies.

As shown above, if you are a policyholder with Auto-Owners and switched to Kentucky Farm Bureau, you may see yearly savings of around $250. Customers with Motorists Mutual might save as much as $390 a year, and Grange Mutual policyholders might lower prices by up to $446 a year.

It’s important to note that these estimates are averaged across all insureds and vehicles and are not factoring in a specific vehicle garaging location for real estate agents. So the company that is best suited for you may not even be in the top 21 companies shown above. That underscores the importance of why you need to quote rates from many companies using your own driver and vehicle profiles.

For realtors, one of the largest factors that help determine auto insurance rates is your zip code in Lexington. Areas with a lot of weather claims or more people tend to have higher rates, whereas areas with less congestion have the gratification of cheaper auto insurance rates.

The information below shows the most costly cities in Kentucky for real estate agents to purchase car insurance in. Lexington shows up at #21 costing $1,469 for coverage, which is approximately $122 each month.

How much is auto insurance in Lexington, KY?
Rank City Average Per Year
1 Louisville $2,154
2 Frankfort $1,725
3 Jeffersontown $1,685
4 Saint Matthews $1,660
5 Ashland $1,656
6 Radcliff $1,654
7 Paducah $1,647
8 Danville $1,596
9 Murray $1,565
10 Madisonville $1,552
11 Elizabethtown $1,547
12 Covington $1,532
13 Hopkinsville $1,523
14 Nicholasville $1,519
15 Winchester $1,517
16 Henderson $1,511
17 Georgetown $1,506
18 Richmond $1,490
19 Erlanger $1,478
20 Florence $1,471
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Price information shown is comparative as specific location information can raise or lower price quotes considerably.

The car, truck, or SUV requiring coverage is a significant factor when comparing quotes for the best cheap auto insurance for real estate agents. Vehicles with lower performance, good safety features, or a low likelihood of liability claims will cost significantly less to insure than adrenaline junky models.

The information below estimates car insurance rates for a number of the most cost-effective automobiles to insure in Kentucky.

Cheapest Vehicles to Insure in Lexington, KY
Make and Model Estimated Cost for Full Coverage
Ford Escape XLS 4WD $879
Toyota Prius $976
Ford Explorer XLT 4WD $985
Ford F-150 XL Regular Cab 4WD $991
Honda CR-V LX 4WD $995
Toyota Tacoma 2WD $1,023
Honda Accord EX-L 4-Dr Sedan $1,076
Dodge Grand Caravan CV $1,080
Ford Edge Sport 2WD $1,099
Kia Optima LX $1,114
Chevrolet Impala LS $1,118
Jeep Wrangler Unlimited Sahara 4WD 4-Dr $1,126
Volkswagen Jetta 2.0T Station Wagon $1,133
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Price data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Kentucky minimum liability limits. Discounts applied include multi-vehicle, multi-policy, claim-free, homeowner, and safe-driver. Rates do not factor in Lexington, KY location which can impact price quotes significantly.

By looking at the data, we can expect models like the Ford Escape, Toyota Prius, and Ford Explorer will definitely be some of the cheapest vehicles to insure for realtors.

Finding a highly-rated insurance company can be rather challenging considering how many different companies insure vehicles in Kentucky. The ranking information shown next can help you pick which providers to look at when trying to find the cheapest insurance for real estate agents. The rankings below are only comprised of large insurance companies, so companies without a large exposure are not taken into consideration for these rankings.

Top 10 Major Auto Insurers in Lexington Ranked by Customer Satisfaction

  1. USAA – 91%
  2. AAA Insurance – 90%
  3. Esurance – 90%
  4. Nationwide – 89%
  5. Travelers – 88%
  6. Progressive – 88%
  7. Safeco Insurance – 88%
  8. State Farm – 88%
  9. Allstate – 88%
  10. The Hartford – 87%

The chart below shows how different deductible levels can change annual premium costs when trying to find cheap insurance for real estate agents. The data assumes a single female driver, comp and collision included, and no discounts are applied.

In the chart above, a 40-year-old driver could lower their car insurance rates by $352 a year by switching from a $100 deductible up to a $500 deductible, or save $528 by switching to a $1,000 deductible. Young drivers, like the 20-year-old example, could lower their rates $898 each year by choosing larger deductibles on their policy.

When raising deductibles, it is necessary to have enough in a savings account to cover the extra out-of-pocket expense that is associated with using high deductibles.

Price comparison of only insuring for liability

Paying a lower price for car insurance is important to the majority of people, and an easy way to find cheaper insurance for real estate agents is to not buy comprehensive and collision coverage. The diagram below shows the comparison of insurance rates with and without full coverage. The premium estimates are based on a clean driving record, no claims, $250 deductibles, drivers are single, and no discounts are factored in.

If we average the cost for all age groups, comprehensive and collision coverage on your policy costs $1,898 per year more than insuring for liability only. Many drivers may wonder if physical damage coverage is worth the money. There isn’t a written rule for eliminating comprehensive and collision coverage on your policy, but there is a general convention. If the annual cost of having full coverage is more than about 10% of the vehicle’s replacement cost less your deductible, then you may want to consider only buying liability coverage.

Low rates can quickly become overpriced

Lexington, KY car insurance rates are calculated based on many things that may substantially change the cost of a policy. Improving your credit score, buying higher coverage limits, or getting a couple of tickets can cause premium changes resulting in some companies being cheaper than competitors. Not only may your risk profile change, but auto insurance companies change rates as often as every three months to help ensure profitability. Significantly higher claims can result in rate hikes, while a better claims history can cause lower-cost Lexington car insurance rates.

To help illustrate this point, the graph below shows the company with the cheapest car insurance in Lexington, KY for a 40-year-old female driver with no accidents, a clean driving record, and solid credit. Based on her current situation, Cincinnati Insurance might quote the most affordable car insurance rates in Lexington at $1,155 per year. This is $988 less than the average premium paid by Kentucky drivers of $2,143. Kentucky Farm Bureau, USAA, Auto-Owners, and Motorists Mutual are also included in the cheapest Lexington, KY auto insurance companies.

In this example, we will give the driver from above a couple of claims, poor credit, and an imperfect driving record. Since each auto insurance company uses their own calculation for determining rates in each state, comparing prices could result in a different list of the cheapest companies as shown below.

Kentucky Farm Bureau now has the cheapest rate in Lexington with Travelers, USAA, Westfield, and State Farm also having competitive pricing. This demonstrates why it is important to do a thorough rate comparison to find affordable insurance rates for real estate agents.

Rates can be altered by many different factors and change substantially, so the lowest-price company two years ago may now cost much more than other companies.