The words “bargain” and “auto insurance” probably shouldn’t be used in the same sentence, specifically when trying to find the lowest insurance prices for good students. To help control this cost, let’s go over some of the factors the can have a considerable influence on auto insurance premiums, and find some ways to lower the price of the next policy you buy.
The car, truck, or SUV to be insured is one of the largest considerations when comparing low-priced insurance for good students. Vehicles with high performance features, a lack of advanced safety features, or high incidents of liability claims will cost more to insure than safer, lower-performance models.
The list below showcases coverage prices for a handful of the most cost-effective vehicles to insure in Kentucky.
| Vehicle Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V LX 4WD | $3,538 |
| Hyundai Elantra GLS Touring Station Wagon | $3,544 |
| Honda Accord LX-P 4-Dr Sedan | $3,538 |
| Ford Escape Limited 2WD | $3,574 |
| Volkswagen Jetta S 2.5 Station Wagon | $3,807 |
| Toyota Prius | $3,845 |
| Jeep Wrangler Sahara 4WD 2-Dr | $3,969 |
| Toyota Tacoma 4WD | $3,979 |
| Ford F-150 XL Super Cab 4WD | $3,969 |
| Dodge Grand Caravan SE | $3,974 |
| Ford Explorer Eddie Bauer 2WD | $3,969 |
| Honda Odyssey EX | $4,166 |
| Ford Focus S 4-Dr Sedan | $4,174 |
| Chevrolet Malibu Hybrid | $4,201 |
| Toyota RAV4 4WD | $4,210 |
| GMC Sierra SL Extended Cab 2WD | $4,201 |
| Dodge Ram 3500 Crew Cab Laramie 2WD | $4,239 |
| Ford Edge Limited AWD | $4,432 |
| Toyota Corolla XLE | $4,438 |
| Chevrolet Impala LTZ | $4,432 |
| Nissan Altima Hybrid 4-Dr Sedan | $4,470 |
| Chevrolet Equinox LTZ AWD | $4,480 |
| Jeep Grand Cherokee Limited 4WD | $4,470 |
| Get a Custom Quote Go | |
Data assumes single male driver age 17, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Kentucky minimum liability limits. Discounts applied include claim-free, and safe-driver. Premium amounts do not factor in specific Lexington, KY garaging location which can influence rates considerably.
Looking at the rates, we can assume that makes and models like the Honda CR-V, Hyundai Elantra, and Honda Accord are going to be some of the less-costly vehicles to insure for student drivers.
Finding out which company offers the most affordable insurance rates for good students may require a tad more effort in order to find the best policy.
Each company has their own guidelines to set policy rates, so we need to take a look at the insurance companies with the overall best prices in Lexington, KY.
Best Auto Insurance Prices for Students
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Cincinnati Insurance | $1,082 |
| 2 | Kentucky Farm Bureau | $1,174 |
| 3 | USAA | $1,187 |
| 4 | Auto-Owners | $1,357 |
| 5 | Grange Mutual | $1,561 |
| 6 | Motorists Mutual | $1,617 |
| 7 | Travelers | $1,680 |
| 8 | State Farm | $1,793 |
| 9 | Westfield | $1,888 |
| 10 | Safe Auto | $1,991 |
| 11 | Nationwide | $2,003 |
| 12 | Electric | $2,076 |
| 13 | Progressive | $2,140 |
| 14 | State Auto | $2,166 |
| 15 | Encompass | $2,288 |
| 16 | GEICO | $2,413 |
| 17 | Safeco | $2,791 |
| 18 | MetLife | $3,084 |
| 19 | Shelter | $3,263 |
| 20 | Liberty Mutual | $3,744 |
| Quote Your Rates Go | ||
Cincinnati Insurance has some of the lowest car insurance rates in Lexington at around $1,082 a year. This is $1,061 less than the average rate paid by Kentucky drivers of $2,143. Kentucky Farm Bureau, USAA, Auto-Owners, and Grange Mutual also rank well as some of the lowest-priced Lexington, KY insurance companies.
As the rates illustrate above, if you are currently insured with Grange Mutual and switched to Kentucky Farm Bureau, you could earn savings of about $387. Kentucky drivers with Motorists Mutual could save as much as $443 a year, and Travelers insureds might lower prices by up to $506 a year.
These premiums are averages across all insureds and vehicles and and are not figured with an exact zip code location for good students. So the auto insurance company that is most affordable for your situation may not even be in the top 21 companies shown above. That point stresses why you need to get rate quotes using your own driver data and vehicle information.
Tickets and at-fault accidents raise rates
The easiest method to receive affordable insurance premiums in Kentucky for student drivers is to be a careful driver and not have accidents or get tickets. The illustration below shows how traffic citations and fender-benders impact auto insurance rates for different age groups. The information is based on a single female driver, comprehensive and collision coverage, $250 deductibles, and no policy discounts are applied.
The data above shows the average cost of car insurance per year with no accidents or violations is $1,633. Receive one speeding ticket and the average cost jumps to $1,849, an increase of $216 each year. Now add in two accidents along with the one speeding ticket and the annual cost of insurance for good students jumps again to an average of $3,722. That’s an increase of $2,089, or $174 per month, just for not paying attention while driving!
Discounts on Lexington car insurance rates
Insurance companies that offer cheap quotes for good students could also offer policy discounts that could reduce prices by as much as 35% if you can meet the requirements. A list of companies and a summarized list of policyholder discounts are included below.
- Farm Bureau may include discounts for multi-policy, renewal discount, 55 and retired, multi-vehicle, and good student.
- MetLife offers discounts for defensive driver, claim-free, good student, accident-free, good driver, multi-policy
- Progressive policyholders can earn discounts including multi-vehicle, good student, multi-policy, homeowner, online quote discount, and continuous coverage.
- AAA may have discounts that include pay-in-full, multi-car, good student, good driver, multi-policy, and education and occupation.
- American Family has discounts for air bags, early bird, defensive driver, multi-vehicle, mySafetyValet, TimeAway discount, and good driver.
- GEICO offers discounts including daytime running lights, anti-theft, five-year accident-free, federal employee, defensive driver, and membership and employees.
- State Farm discounts include anti-theft, multiple autos, multiple policy, Drive Safe & Save, and passive restraint.
The diagram below illustrates the comparison of car insurance rates with and without discounts applied to the policy rates. The premiums are based on a male driver, no accidents or driving violations, Kentucky state minimum liability limits, comprehensive and collision coverage, and $500 deductibles.
The first bar for each age group shows insurance cost with no discounts. The second shows the rates with passive restraint, continuous coverage, good student, paid-in-full, anti-theft, and paperless filing discounts applied. With discounts applied, the average savings per year on insurance for good students is 28% or $739.
How to find more affordable auto insurance for good students
It is possible to find better rates, and here are some of the better thrifty ideas that can help drivers buy lower-cost car insurance.
- If your vehicles are older, consider dropping full coverage
- Do not get tickets or violations
- Being accident-free can lower rates significantly
- Increase physical damage deductibles
- Drivers with good credit ratings often pay less
- Lower rates by purchasing a safer vehicle
- Comparison shop at least once a year
That last idea is incredibly important, as we discussed in this article. Auto insurance rates fluctuate constantly, so don’t be afraid to switch carriers if a cheaper rate is available. Having brand loyalty is commendable, but it isn’t a good idea if that loyalty results in overpaying big bucks every year. Take a couple minutes and compare prices to find cheaper car insurance for good students in Lexington.
The agents below can aid you in deciding which coverages you need, since some people prefer to get some guidance when shopping for cheaper insurance for student drivers. It can be difficult to find the best rates on your own, and getting professional guidance from a licensed agent can add comfort knowing your policy gives you adequate protection in the event of a claim.
To locate a Lexington car insurance agency by location nearest to you, click the button at the bottom of the list.
- Blue Grass Insurance
2560 Richmond Rd # 200 – Lexington, KY 40509 – (859) 543-0050 - Neely Taylor-Wade Insurance
133 Walton Ave – Lexington, KY 40508 – (859) 233-7855 - Jeff Briggs – State Farm Insurance Agent
449 Lewis Hargett Cir #150 – Lexington, KY 40503 – (859) 273-8512