Finding dependable, reasonably-priced insurance is confusing at best, and determining which companies have the cheapest insurance rates for infrequent drivers may require even more perseverance. Each company uses different criteria for setting rates, so we’ll take a look at the lowest cost insurance companies in Kentucky.
Lowest Insurance Price Quotes in Kentucky
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Cincinnati Insurance | $1,115 |
| 2 | Kentucky Farm Bureau | $1,163 |
| 3 | USAA | $1,187 |
| 4 | Auto-Owners | $1,371 |
| 5 | Motorists Mutual | $1,601 |
| 6 | Grange Mutual | $1,609 |
| 7 | Travelers | $1,663 |
| 8 | State Farm | $1,793 |
| 9 | Westfield | $1,814 |
| 10 | Safe Auto | $1,932 |
| 11 | Nationwide | $2,003 |
| 12 | Electric | $2,076 |
| 13 | Progressive | $2,119 |
| 14 | State Auto | $2,188 |
| 15 | Encompass | $2,382 |
| 16 | GEICO | $2,437 |
| 17 | Safeco | $2,681 |
| 18 | MetLife | $3,146 |
| 19 | Shelter | $3,263 |
| 20 | Liberty Mutual | $3,744 |
| Find Your Rate Go | ||
Cincinnati Insurance may have some of the lowest car insurance rates in Lexington at around $1,115 annually. Kentucky Farm Bureau, USAA, Auto-Owners, and Motorists Mutual are also some of the cheapest Lexington, KY auto insurance companies.
As shown in the rates above, if you buy coverage from USAA and switched to Cincinnati Insurance, you might realize annual savings of in the vicinity of $72. Customers with Auto-Owners could save as much as $256 a year, and Motorists Mutual customers might lower prices by up to $486 a year.
Be aware that those policy rates are averages for all types of insureds and vehicles and are not factoring in a specific location for infrequent drivers. So the car insurance company that has the cheapest price for you may not even be in the top 21 companies shown above. That points out the importance of why you need to get auto insurance quotes using your own driver information and specific vehicle type.
One of the more important factors that aid in calculating insurance cost is where your residence is. Regions with more people or even just more weather-related claims tend to pay more, whereas areas with less people or fewer weather incidents have the luxury of cheap car insurance rates.
The next table ranks the highest-priced places in Kentucky for infrequent drivers to buy auto insurance in. Lexington shows up at #21 having an annual price of $1,454 on average, which is about $121 per month.
| Rank | City | Annual Rate |
|---|---|---|
| 1 | Louisville | $2,154 |
| 2 | Frankfort | $1,795 |
| 3 | Ashland | $1,724 |
| 4 | Saint Matthews | $1,711 |
| 5 | Jeffersontown | $1,668 |
| 6 | Radcliff | $1,638 |
| 7 | Paducah | $1,599 |
| 8 | Murray | $1,597 |
| 9 | Elizabethtown | $1,595 |
| 10 | Henderson | $1,557 |
| 11 | Madisonville | $1,552 |
| 12 | Danville | $1,549 |
| 13 | Hopkinsville | $1,538 |
| 14 | Georgetown | $1,536 |
| 15 | Winchester | $1,517 |
| 16 | Richmond | $1,490 |
| 17 | Covington | $1,487 |
| 18 | Erlanger | $1,478 |
| 19 | Bowling Green | $1,461 |
| 20 | Nicholasville | $1,459 |
| 21 | Lexington | $1,454 |
| 22 | Owensboro | $1,432 |
| 23 | Florence | $1,427 |
| 24 | Independence | $1,422 |
| 25 | Fort Thomas | $1,397 |
| Start a Quote Go | ||
Rate quotes are comparative as vehicle location can modify premiums considerably.
The car, truck, or SUV you are trying to insure is probably the most important factor when shopping for the most affordable coverage for infrequent drivers. Vehicles with lower acceleration and performance, excellent safety ratings, or a positive history of liability claims will cost substantially less to insure than higher performance models.
The table below features insurance prices for a handful of the most affordable automobiles to insure.
| Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape Limited 4WD | $921 |
| Dodge Grand Caravan SE | $954 |
| Hyundai Elantra GLS Touring Station Wagon | $973 |
| Chevrolet Equinox LS AWD | $1,006 |
| Nissan Altima 2.5 4-Dr Sedan | $1,014 |
| Chevrolet Malibu LT | $1,025 |
| Toyota Tacoma Double Cab TRD Off-Road Package 4WD | $1,034 |
| Honda CR-V EX 2WD | $1,044 |
| Toyota Prius | $1,075 |
| Chevrolet Silverado LS Crew Cab 4WD | $1,077 |
| Nissan Rogue S AWD | $1,084 |
| Ford F-350 Super Cab Cabela Package 2WD | $1,096 |
| Hyundai Sonata SE 4-Dr Sedan | $1,130 |
| Toyota Camry Hybrid | $1,149 |
| Toyota Camry Hybrid | $1,156 |
| Ford Fusion SEL AWD 4-Dr Sedan | $1,149 |
| Dodge Ram 3500 Mega Cab SLT 2WD | $1,167 |
| Ford Explorer XLT 4WD | $1,169 |
| Honda Civic LX 4-Dr Sedan | $1,190 |
| Ford Edge Sport AWD | $1,211 |
| Get a Custom Quote Go | |
Cost estimates assume single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Kentucky minimum liability limits. Discounts applied include multi-policy, safe-driver, multi-vehicle, homeowner, and claim-free. Prices do not factor in Lexington, KY location which can decrease or increase insurance rates substantially.
Looking at the rates, you can expect makes and models like the Ford Escape, Dodge Grand Caravan, Hyundai Elantra, Chevrolet Equinox, and Nissan Altima are a few of the most economical vehicles to insure for low mileage drivers.
Impact of violations and accidents on rates
The obvious way to obtain cheap insurance prices in Lexington for low mileage drivers is to be a safe driver and not receive tickets or have accidents. The chart below illustrates how traffic citations and at-fault claims can raise insurance costs for different categories of driver ages. Data assumes a single male driver, full physical damage coverage, $250 deductibles, and no additional discounts are factored in.
In the prior example, the average cost of a car insurance policy in Kentucky per year with no accidents or violations is $2,293. Receive two speeding tickets and the average cost swells to $3,040, an increase of $747 each year. Now get two accidents along with the two speeding tickets and the annual cost of insurance for infrequent drivers goes up to an average of $5,816. That’s an increase of $3,523, or $294 per month, just for not maintaining a clean driving record!
Selecting a good quality car insurance company can be challenging considering how many companies are available to choose from in Lexington. The ranking information below can help you pick which auto insurance companies you want to consider when comparing rate quotes.
The rankings below are only comprised of companies that insure vehicles nationwide, so companies that focus mainly on Kentucky business will not be included in this list. If you would like to check rates and find cheaper insurance for infrequent drivers, just click here.
Top 10 Large Auto Insurance Companies in Lexington Ranked by Value
- Travelers
- American Family
- AAA Insurance
- Safeco Insurance
- Progressive
- The Hartford
- Erie Insurance
- The General
- Esurance
- 21st Century
Top 10 Large Auto Insurance Companies in Lexington Ranked by Customer Service
- USAA
- Travelers
- AAA Insurance
- Nationwide
- Safeco Insurance
- Progressive
- State Farm
- The Hartford
- The General
- Esurance
Full coverage rates compared to liability only
Paying a lower price for insurance is important to the majority of drivers, and one easy way to find cheap insurance for infrequent drivers is to not insure for full coverage. The information below illustrates the comparison of auto insurance rates with full physical damage coverage and with liability coverage only. The price estimates are based on no accidents, no driving violations, $100 deductibles, single status, and no discounts are applied.
If averaged out across all ages, comp and collision coverage costs an additional $2,508 per year more than just buying liability only. That is a large expense which might make you wonder if you should buy full coverage at all. There is no definitive guideline to drop physical damage insurance, but there is a guideline you can consider. If the annual cost of comprehensive and collision coverage is about 10% or more of any settlement you would receive from your insurance company, then you may need to consider dropping full coverage.
For example, let’s pretend your vehicle’s replacement value is $7,500 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, the most you would get paid by your company is $6,500 after paying the physical damage deductible. If it’s costing you more than $650 annually for physical damage coverage, then you may want to consider only buying liability coverage.
There are a few cases where buying only liability insurance is not recommended. 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 emergency fund is not enough to purchase a different vehicle if your current one is totaled, you should not opt for liability only.
How to find budget-friendly insurance for infrequent drivers
The list below summarizes some penny-pinching suggestions that can help Kentucky drivers get lower-cost coverage.
- Remain accident-free and save
- Tickets and violations raise rates
- Save money by insuring older vehicles for liability only
- Avoid price increases by not filing claims
- Raise deductibles to save money
- Compare price quotes at least once a year
That last idea is particularly crucial, as we discussed in the prior article. Coverage prices in Lexington change frequently, so drivers shouldn’t be resistant to buy a policy from a new company if you can find a cheaper rate. Many consumers stick with the same company and that’s fine, but is isn’t recommended if that stubbornness costs you major coinage every year. If you have a few minutes, now is a great time to compare rates and find cheaper auto insurance for infrequent drivers.
The Lexington car insurance agencies listed below can most likely help you decide which coverage meets your needs best, as some people have coverage questions and would like to have a consultation when shopping around for cheaper insurance for infrequent drivers. It can be challenging to find the best policy on your own, so insurance agents licensed in the state of Kentucky can add satisfaction knowing your policy gives you enough coverage when you need it.
To locate a Lexington auto insurance agent near you, click the button link following the list or click here to compare prices now.
- Kelly Wooten Insurance Agency
2331 Fortune Dr #175 – Lexington, KY 40509 – (859) 278-3487 - Energy Insurance Inc
3008 Atkinson Ave – Lexington, KY 40509 – (859) 273-1549 - Russ Tucker – State Farm Insurance Agent
1206 N Broadway – Lexington, KY 40505 – (859) 259-0404