What Insurance is Cheapest for High Mileage Drivers in Lexington?

Wouldn’t it be so easy if we could tell you the single best company in Lexington that has the best insurance prices for high mileage drivers? That is not the case, however, as there are many unknown aspects such as if you have ever let your coverage lapse, the crime level of your neighborhood, if you have any tickets or accidents, and your financial responsibility, that all influence how much you pay for auto insurance. The information below covers some of these topics and will hopefully give you a good start in finding the cheapest insurance in Kentucky.

Deciphering which companies offer the most affordable insurance rates for high mileage drivers will take a little more effort in order to find the best price. Every insurance provider uses a slightly different approach for determining prices, so we need to take a look at the most competitive insurance companies in Kentucky.

It’s a good idea to know that Kentucky insurance rates are impacted by many things which can substantially change the price of coverage. Improving your credit rating, moving across town, or getting a few speeding tickets may cause policy rate changes that can now make some companies cheaper than competitors.

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Cheapest Kentucky auto insurance companies
Rank Company Cost Per Year
1 Cincinnati Insurance $1,093
2 Kentucky Farm Bureau $1,163
3 USAA $1,223
4 Auto-Owners $1,371
5 Motorists Mutual $1,601
6 Grange Mutual $1,609
7 Travelers $1,614
8 State Farm $1,812
9 Westfield $1,814
10 Safe Auto $1,913
11 Nationwide $2,064
12 Electric $2,097
13 Progressive $2,140
14 State Auto $2,254
15 Encompass $2,312
16 GEICO $2,437
17 Safeco $2,709
18 MetLife $3,053
19 Shelter $3,135
20 Liberty Mutual $3,598
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Cincinnati Insurance may offer some of the best car insurance rates in Lexington at around $1,093 annually. This is $1,050 less than the average premium paid by Kentucky drivers of $2,143. Kentucky Farm Bureau, USAA, Auto-Owners, and Motorists Mutual are also some of the best Lexington, KY insurance companies.

As the rates illustrate above, if you are a policyholder with Auto-Owners and switched to Cincinnati Insurance, you might realize a yearly price reduction of upwards of $278. Drivers with Motorists Mutual might save as much as $508 a year, and Grange Mutual insureds might lower prices by $516 a year.

To find cheaper insurance rates for your vehicle, click here to get a free quote or quote prices from the following companies.

Understand that those rates are averages across all ages of drivers and types of vehicles and and are not figured with an exact vehicle garaging location for high mileage drivers. So the insurer that is best suited for you may not even be in the list above. That’s why you need to get quotes using your own driver data and vehicle information.

For high mileage drivers, one of the big criteria that aid in calculating the cost of insurance is where your residence is. Areas with more people or even just a higher incidence of claims tend to have more expensive car insurance rates, whereas areas with lower crime rates and fewer weather claims benefit from lower rates.

The illustration below sorts the highest-priced places in Kentucky for high mileage drivers to buy auto insurance in. Lexington ranks #19 with an annual premium of $1,469 for the average insurance policy, which is about $122 monthly.

How much is car insurance in Lexington?
Rank City Premium Per Year
1 Louisville $2,176
2 Frankfort $1,778
3 Ashland $1,724
4 Saint Matthews $1,711
5 Jeffersontown $1,685
6 Paducah $1,647
7 Madisonville $1,616
8 Murray $1,613
9 Radcliff $1,590
10 Elizabethtown $1,563
11 Henderson $1,541
12 Georgetown $1,536
13 Danville $1,534
14 Richmond $1,520
15 Nicholasville $1,519
16 Winchester $1,517
17 Covington $1,517
18 Hopkinsville $1,493
19 Lexington $1,469
20 Erlanger $1,463
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Premium amounts are approximated as the specific zip code location can modify price quotes noticeably.

The vehicle requiring insurance is one of the biggest factors that determines if you can find the cheapest auto insurance for high mileage drivers. Vehicles with lower performance, excellent safety ratings, or a track record of few liability claims will cost quite a bit less to insure than adrenaline junky models.

The data below estimates car insurance premiums for a handful of the most affordable vehicles to buy insurance for.

Cheapest Vehicles to Insure in Lexington, KY
Make and Model Estimated Cost for Full Coverage
Honda CR-V EX 4WD $835
Honda Accord LX-P 4-Dr Sedan $933
Ford Edge SEL 2WD $947
Honda Civic DX 4-Dr Sedan $956
Toyota Tacoma Double Cab 4WD $984
Toyota Corolla S $1,015
Hyundai Elantra SE 4-Dr Sedan $1,022
Honda Odyssey EX-L W/Navigation $1,015
Ford F-150 XL Super Cab 2WD $1,027
Ford Escape Limited 2WD $1,033
Chevrolet Equinox LTZ 2WD $1,034
Ford Fusion SE 4-Dr Sedan $1,041
Nissan Altima Hybrid 4-Dr Sedan $1,034
Toyota Prius $1,036
Nissan Rogue SL AWD $1,087
Chevrolet Impala LS $1,094
Toyota RAV4 Limited 2WD $1,109
Chevrolet Silverado 2500HD LT Crew Cab 2WD $1,157
Chevrolet Silverado LT Extended Cab 4WD $1,185
Chevrolet Malibu LTZ $1,187
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Table data assumes single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Kentucky minimum liability limits. Discounts applied include claim-free, multi-policy, homeowner, multi-vehicle, and safe-driver. Rates do not factor in vehicle location which can influence premium rates noticeably.

Based upon these rates, vehicles like the Honda CR-V, Honda Accord, and Ford Edge are most likely to be a few of the most budget-friendly vehicles to insure for high mileage drivers.

How much more does full coverage cost in Lexington?

Reducing premiums for insurance is important to most people, and a great way to pay lower rates for insurance for high mileage drivers is to only pay for liability coverage. The diagram below illustrates the difference between auto insurance rates with full coverage and liability only. The rates are based on no driving violations, no at-fault accidents, $100 deductibles, drivers are not married, and no additional discounts are factored in.

Averaged for all age groups, physical damage coverage on your policy costs an additional $2,508 per year more than just buying liability insurance. That is a big expense that brings up the question when is the right time to remove full coverage. There is no written rule to stop buying full coverage on your policy, but there is a general guideline you can use. If the annual cost of comprehensive and collision coverage is more than about 10% of the settlement you would receive from your company, then you might consider buying liability only.

The chart below demonstrates how deductible levels can affect premium costs when searching for cheap insurance for high mileage drivers. The information is based on 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 $310 a year by switching the physical damage coverage from a $100 deductible up to a $500 deductible, or save $468 by choosing a $1,000 deductible. Even younger insureds, like the Age 20 category, could save $788 each year by choosing larger deductibles on their policy. When increasing deductibles, it is necessary to have enough funds in savings to pay the extra out-of-pocket expense that deters many people from opting for higher deductibles.

Discount Lexington car insurance rates

Save on insurance for high mileage drivers in LexingtonCar insurance companies that offer cheap quotes for high mileage drivers may provide policy discounts that can lower rates by 40% or more if you qualify. Larger insurance companies and a selection of discounts are outlined below.

The diagram below visualizes the comparison of insurance premiums with and without discounts applied to the premium. The premium estimates are based on a female driver, no violations or claims, Kentucky state minimum liability limits, full physical damage coverage, and $100 deductibles.

The first bar for each age group shows the price with no discounts. The lower bar shows the rates with accident-free, vehicle safety, homeowner, safe-driver, claim-free, and multiple policy discounts applied. When taking advantage of discounts, theaverage amount saved on insurance for high mileage drivers is 28% or $658.