How Much is Auto Insurance for 16 Year Olds in Lexington?

You have probably seen the catchy advertisements from companies like The General and Farmers that say if you switch you’ll get the cheapest price, so you should just pick one at random, right?

It’s not quite that easy, unfortunately, as there are a ton of unknown elements such as whether you are male or female, if you have a lapse in coverage, if you have a spouse, and if you need full coverage or just liability. We are going to cover some of these criteria and will hopefully give the reader some help in finding cheaper rates.

For new drivers, one of the largest criteria that determine car insurance rates is where you live. Areas with increased crime or more people tend to have more expensive auto insurance rates, whereas more rural areas benefit from lower rates.

The next table lists the highest-priced areas in Kentucky for 16 year olds in which to buy car insurance. Lexington is ranked at #20 with a yearly cost of $1,454 for the average insured, which is around $121 each month.

Car insurance prices in Lexington
Rank City Premium Per Year
1 Louisville $2,090
2 Frankfort $1,742
3 Saint Matthews $1,711
4 Ashland $1,673
5 Jeffersontown $1,668
6 Radcliff $1,654
7 Madisonville $1,616
8 Paducah $1,599
9 Danville $1,596
10 Murray $1,565
11 Elizabethtown $1,563
12 Georgetown $1,551
13 Covington $1,532
14 Richmond $1,520
15 Winchester $1,517
16 Henderson $1,495
17 Hopkinsville $1,493
18 Nicholasville $1,474
19 Independence $1,466
20 Lexington $1,454
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Premium amounts are estimated as zip code location can alter prices considerably.

The make and model of vehicle on the policy is probably the most important factor when comparison shopping for cheap insurance for 16 year olds. Vehicles with higher performance, a lack of modern safety features, or high incidents of liability claims will cost quite a bit more to insure than more economical and safe models. The information below illustrates car insurance costs for the more affordable automobiles to buy coverage for.

Cheapest Vehicles to Insure in Lexington, KY
Vehicle Make and Model Estimated Cost for Full Coverage
Ford Escape XLS 4WD $4,055
Honda Accord EX 4-Dr Sedan $4,062
Honda CR-V EX-L 4WD $4,094
Toyota Prius $4,381
Ford F-150 XLT Regular Cab 4WD $4,560
Dodge Grand Caravan SE $4,570
Ford Explorer Eddie Bauer 2WD $4,560
Volkswagen Jetta 2.0T Station Wagon $4,631
Ford Edge SE AWD $4,769
Chevrolet Impala LS $4,777
Toyota Camry LE $4,808
Toyota RAV4 4WD $4,814
Chevrolet Equinox LS 2WD $4,808
Toyota Tacoma Double Cab TRD Sport Package 4WD $4,846
Hyundai Elantra Blue 4-Dr Sedan $5,019
Ford Focus SEL 4-Dr Sedan $5,026
Honda Civic LX-S 4-Dr Sedan $5,019
Honda Odyssey EX-L $5,058
GMC Sierra SLT Extended Cab 2WD $5,097
Jeep Grand Cherokee SRT-8 4WD $5,105
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Cost estimates assume single male driver age 16, 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 your specific Lexington, KY location which can revise auto insurance rates greatly.

By looking at the data, we can infer that makes and models like the Ford Escape, Honda Accord, Honda CR-V, Toyota Prius, and Ford F-150 are most likely going to be the more affordable vehicles to insure for new drivers. Rates will tend to be more expensive just due to the fact that there is more claim risk for 16 year olds, but generally speaking those vehicles will probably have the least expensive rates compared to other types of vehicles.

Full coverage versus liability only rates

Paying less for auto insurance is probably important to the majority of people, and one way to reduce the cost of insurance for 16 year olds is to buy liability only. The information below illustrates the difference between insurance costs with and without physical damage coverage. The premiums are based on no claims or violations, $100 deductibles, drivers are single, and no discounts are applied to the premium.

If we average the cost for all age groups, full coverage costs an additional $1,873 per year more than insuring for liability only. That is a big expense that brings up the question if it’s a good idea to buy full coverage. There is no definitive guideline to drop physical damage coverage, but there is a broad guideline. If the annual cost of your full coverage insurance is more than around 10% of the settlement you would receive from your company, then you might consider buying liability only.

Reckless driving habits raise Lexington auto insurance rates

The easiest method to receive affordable auto insurance premiums in Kentucky for new drivers is to pay attention while driving and maintain a clean driving record. The illustration below demonstrates how citations and fender-benders raise auto insurance rates for each different age category. Data assumes a married male driver, comp and collision included, $500 deductibles, and no policy discounts are applied.

The data charted above shows the average cost of car insurance in Lexington per year with a clean driving record and no accidents is $1,315. Get written up for two speeding tickets and the average cost hikes up to $1,806, an increase of $491 each year. Now add one accident along with the two speeding tickets and the 12-month cost of auto insurance for 16 year olds goes up to an average of $2,302. That’s an increase of $988, or $82 per month, just for not maintaining a clean driving record!

Picking the top insurer is hard considering how many different companies sell coverage in Lexington. The company rank data shown below may help you analyze which coverage providers you want to consider when insurance shopping for 16 year olds.

The rankings below are only comprised of large, nationwide insurance companies, so companies that only write business in Kentucky or surrounding areas will not be included in these rankings. If you wish to compare rates from these and other companies in Kentucky, follow this link.

Best 15 Auto Insurance Companies for 16 Year Olds in Lexington
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: Best Car Insurance Companies