Find Cheaper Dodge Charger Insurance in Lexington

Insurance quote for Dodge Charger in LexingtonIt takes a little time, but the best way to find the cheapest price for car insurance rates is to compare prices once a year from companies who sell insurance in Lexington. Price quotes can be compared by following these steps.

  1. Learn about individual coverages and the changes you can make to prevent expensive coverage. Many policy risk factors that result in higher rates like at-fault accidents, careless driving, and an unacceptable credit rating can be eliminated by being financially responsible and driving safely.
  2. Request price quotes from direct carriers, independent agents, and exclusive agents. Exclusive and direct companies can only provide price estimates from a single company like GEICO or Farmers Insurance, while independent agents can give you price quotes from many different companies.
  3. Compare the new rates to your existing coverage to see if switching to a new carrier will save money. If you find a better price, ensure there is no coverage lapse between policies.
  4. Notify your agent or company to cancel the current policy and submit the signed application along with the required initial payment to the new insurer. When you receive it, keep your new certificate verifying coverage in your vehicle’s glove compartment or console.

A tip to remember is to try to use similar limits and deductibles on every quote and and to get quotes from as many auto insurance providers as possible. Doing this ensures an accurate price comparison and the best price selection.

Unbelievably, nearly 70% of Kentucky drivers kept buying from the same company for four years or more, and just under half have never compared rate quotes at all. American consumers could save approximately $850 each year by just comparing quotes, but they just assume it’s a time-consuming process to compare rates and save money.

Companies offering Dodge Charger insurance in Kentucky

The following companies are ready to provide price comparisons in Kentucky. If you want to find cheaper auto insurance in Lexington, we recommend you get rates from several of them to get the most competitive price.

Dodge Charger insurance rates and statistics

The table displayed next covers a range of insurance prices for Dodge Charger models. Having a good grasp of how car insurance premiums are determined can aid in making smart choices when purchasing an auto insurance policy.

Dodge Charger Insurance Rates in Lexington, KY
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Charger 3.5 $310 $576 $494 $30 $148 $1,558 $130
Charger $310 $576 $494 $30 $148 $1,558 $130
Charger AWD $310 $576 $494 $30 $148 $1,558 $130
Charger 3.5 AWD $310 $576 $494 $30 $148 $1,558 $130
Charger SXT $310 $576 $494 $30 $148 $1,558 $130
Charger SXT AWD $310 $576 $494 $30 $148 $1,558 $130
Charger Rallye $310 $576 $494 $30 $148 $1,558 $130
Charger R/T $310 $664 $494 $30 $148 $1,646 $137
Charger Rallye AWD $310 $664 $494 $30 $148 $1,646 $137
Charger R/T AWD $342 $664 $494 $30 $148 $1,678 $140
Charger SRT-8 $342 $664 $494 $30 $148 $1,678 $140
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Prices based on single male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Kentucky minimum liability limits. Discounts applied include homeowner, multi-policy, claim-free, safe-driver, and multi-vehicle. Prices do not factor in specific zip code location which can raise or lower premiums considerably.

Analysis of deductible levels

One of the most common insurance questions is where should you set your physical damage deductibles. The comparison tables below approximate the rate fluctuation between high and low comp and collision deductibles. The first rate comparisons uses a $250 deductible for physical damage and the second price table uses a $500 deductible.

Dodge Charger insurance with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Charger 3.5 $318 $500 $408 $24 $122 $1,397 $116
Charger $318 $500 $408 $24 $122 $1,397 $116
Charger AWD $318 $500 $408 $24 $122 $1,397 $116
Charger 3.5 AWD $318 $500 $408 $24 $122 $1,397 $116
Charger SXT $318 $500 $408 $24 $122 $1,397 $116
Charger SXT AWD $318 $500 $408 $24 $122 $1,397 $116
Charger Rallye $318 $500 $408 $24 $122 $1,397 $116
Charger R/T $318 $576 $408 $24 $122 $1,473 $123
Charger Rallye AWD $318 $576 $408 $24 $122 $1,473 $123
Charger R/T AWD $350 $576 $408 $24 $122 $1,505 $125
Charger SRT-8 $350 $576 $408 $24 $122 $1,505 $125
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Dodge Charger insurance with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Charger 3.5 $258 $404 $408 $24 $122 $1,216 $101
Charger $258 $404 $408 $24 $122 $1,216 $101
Charger AWD $258 $404 $408 $24 $122 $1,216 $101
Charger 3.5 AWD $258 $404 $408 $24 $122 $1,216 $101
Charger SXT $258 $404 $408 $24 $122 $1,216 $101
Charger SXT AWD $258 $404 $408 $24 $122 $1,216 $101
Charger Rallye $258 $404 $408 $24 $122 $1,216 $101
Charger R/T $258 $466 $408 $24 $122 $1,278 $107
Charger Rallye AWD $258 $466 $408 $24 $122 $1,278 $107
Charger R/T AWD $284 $466 $408 $24 $122 $1,304 $109
Charger SRT-8 $284 $466 $408 $24 $122 $1,304 $109
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Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Kentucky minimum liability limits. Discounts applied include homeowner, claim-free, safe-driver, multi-policy, and multi-vehicle. Rates do not factor in specific location which can change prices greatly.

Using the data above, we can ascertain that using a $250 deductible would cost the average driver about $15 more each month or $180 annually averaged for all Charger models than requesting the higher $500 deductible. Because you would pay $250 more if you turn in a claim with a $500 deductible as compared to a $250 deductible, if you normally go more than 17 months between claims, you would probably come out ahead if you decide on a higher deductible.

How to calculate if higher deductibles make sense

Average monthly premium for $250 deductibles: $119
Average monthly premium for $500 deductibles (subtract): – $104
Monthly savings from raising deductible: $15
Difference between deductibles ($500 – $250): $250
Divide difference by monthly savings: $250 / $15
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 17 months

Should you buy full coverage?

The chart below illustrates the comparison of Dodge Charger car insurance costs when comparing full coverage to state minimum liability only. The rate quotes are based on no claims or violations, $500 deductibles, marital status is single, and no discounts are applied to the premium.

Are you wasting money paying for full coverage?

There is no clear-cut rule for dropping full coverage, but there is a guideline you can consider. If the annual cost of having full coverage is more than 10% of any settlement you would receive from your insurance company, then it may be the right time to buy liability only.

For example, let’s pretend your Dodge Charger replacement value is $3,000 and you have $1,000 deductibles. If your vehicle is severely damaged, the most your company would pay you is $2,000 after the policy deductible has been paid. If you are currently paying more than $200 a year for full coverage, then you may need to consider dropping full coverage.

There are some situations where buying only liability insurance is not recommended. If you still owe a portion of the original loan, you have to carry full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if you don’t have enough money to buy a different vehicle in case of an accident, you should maintain full coverage.

Lexington insurance discounts

Insurance is easily one of your largest bills, but you might be missing out on some discounts that can help lower your rates. Some of these discounts will be visible at quote time, but some discounts are required to be asked for prior to getting the savings.Save money with discounts

You can save money using discounts, but most discounts do not apply to all coverage premiums. Most cut individual premiums such as liability, collision or medical payments. Despite the fact that it seems like it’s possible to get free car insurance, companies don’t profit that way.

The example below illustrates the comparison of Dodge Charger insurance prices with and without discounts applied to the rates. The data is based on a male driver, no driving violations, no at-fault accidents, Kentucky state minimum liability limits, comprehensive and collision coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, multi-policy, safe-driver, claim-free, multi-car, and homeowner discounts applied.

Larger insurance companies and a summarized list of policyholder discounts are:

Before buying, ask every insurance company how you can save money. Depending on the company, some discounts might not be offered in Lexington. For a list of insurance companies with the best Dodge Charger insurance discounts in Lexington, follow this link.

Eight factors that influence insurance prices

Multiple criteria are used in the calculation when quoting car insurance. Some are obvious like a motor vehicle report, although others are more transparent like where you live or how financially stable you are. Part of the auto insurance buying process is learning some of the things that help determine auto insurance rates. If you understand what determines base rates, this allows you to make educated decisions that could result in lower rates.

Performance influences insurance premiums – The make and model of the vehicle you need to insure makes a significant difference in determining your rates. The best insurance prices will normally be found when insuring lower performance four cylinder passenger cars, but there are many factors that impact the final cost.

The chart below uses these variables: single male driver age 40, full coverage with $100 deductibles, and no discounts or violations. The chart compares Dodge Charger rates compared to other makes and models that have a range of performance risks.

Men drivers tend to cost more – Over the last 50 years, statistics have shown that men are more aggressive behind the wheel. It does not mean females are better at driving than males. Both genders are responsible for at-fault accidents in similar numbers, but the men tend to have higher claims. Men also statistically get ticketed for serious violations such as reckless driving.

The chart below shows the comparison of Dodge Charger insurance prices for male and female drivers. The information is based on a clean driving record, no at-fault accidents, full physical damage coverage, $500 deductibles, drivers are not married, and no other discounts are factored in.

Lower rates come with age – Teen drivers in Kentucky are known to be inattentive when driving therefore auto insurance rates are much higher. Adding a teen driver to your auto insurance policy can increase premiums substantially. More mature drivers tend to be more responsible, cost insurance companies less in claims, and are safer drivers.

The data below uses these assumptions: single driver, full coverage with $100 deductibles, and no discounts or violations.

Your location is a factor – Residing in less populated areas of the country can be a good thing when talking about auto insurance. Drivers who live in large cities have to deal with much more traffic and much longer commute distances. Lower population means less chance of accidents in addition to lower liability claims.

Driving citations cost more than a fine – A bad driving record has a huge affect on how much you pay. Just one speeding ticket can increase rates to the point where it’s not affordable. Drivers who don’t get tickets pay less for auto insurance compared to bad drivers. Drivers who have dangerous violations such as DWI, reckless driving or hit and run convictions may face state-mandated requirements to file a SR-22 with the DMV in their state in order to legally drive a vehicle.

The diagram below highlights how speeding tickets and at-fault claims increase Dodge Charger insurance rates for different age groups. The information is based on a single male driver, full physical damage coverage, $250 deductibles, and no additional discounts are factored in.

Vehicles with better crash test results are cheaper to insure – Vehicles that have high safety ratings cost less to insure. Vehicles built for safety help reduce the chance of injuries in an accident and fewer serious injuries means your insurance company pays less and lower rates for you.

Rate your vehicle for proper use – The higher the mileage driven annually the higher your rates will be. The majority of insurers calculate rates based on their usage. Vehicles that do not get driven very much get more affordable rates compared to those used for work or business. A policy that improperly rates your Charger can result in significantly higher rates. Verify your auto insurance policy shows the correct driver usage, because improper ratings can cost you money.

Consolidate policies and save – Some auto insurance companies give lower prices to insureds who have multiple policies with them such as combining an auto and homeowners policy. Even with this discount applied, it’s in your best interest to get quotes from other companies to confirm you are receiving the best rates possible.

Dodge Charger insurance loss data – Insurance companies analyze claim trends for every vehicle to help calculate premium rates. Vehicles that are shown to have increased losses will cost more for coverage.

The table below demonstrates the historical insurance loss data for Dodge Charger vehicles. For each policy coverage type, the claim probability for all vehicles, regardless of manufacturer or model, is considered to be 100. Numbers under 100 suggest losses that are better than average, while numbers shown that are more than 100 show a trend for more claims or a tendency for losses to be larger than average.

Dodge Charger Insurance Loss Statistics
Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Dodge Charger 2WD 148 142 160 176 178 159
Dodge Charger 4WD 124 129 115 107 110 138
Dodge Charger HEMI 156 106 202 118 127 111

Statistics from for 2013-2015 Model Years

Independent versus exclusive insurance agencies

Many drivers still like to buy from a licensed agent and that is OK! One of the best bonuses of comparing rates online is you may find cheap insurance rates and still have a local agent. And providing support for local agents is still important in Lexington.

Insurance agents in LexingtonAfter completing this simple form, your insurance coverage information gets sent to local insurance agents in Lexington that can give you free Lexington car insurance quotes for your insurance coverage. It’s much easier because you don’t need to leave your house since rate quotes are delivered to you instantly. You can get cheaper insurance rates AND a local agent. If you need to get a rate quote from a specific insurance company, you can always go to their quote page to submit a rate quote request.

If you are wanting to find a good Lexington insurance agent, it helps to know the two different types of agents from which to choose. Insurance agencies can be categorized as either independent or exclusive depending on the company they work for.

Independent Insurance Agents

Agents that choose to be independent are not employed by one company and that gives them the ability to insure with many different companies and find you the best rates. If prices rise, they simply move the coverage in-house which makes it simple for you.

When comparing rate quotes, it’s recommended you get insurance quotes from several independent insurance agents for maximum quote selection.

Below is a short list of independent insurance agents in Lexington that may be able to provide competitive price quotes.

1500 Leestown Rd #160Lexington, KY 40511(859) 412-4636View Map

185 Pasadena Dr Ste 235Lexington, KY 40503(859) 268-2542View Map

989 Governors LnLexington, KY 40513(859) 277-8877View Map

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Exclusive Insurance Agencies

Exclusive insurance agents can usually just insure with one company and some examples include Farmers Insurance, State Farm, Allstate, and AAA. They usually cannot shop your coverage around so they have to upsell other benefits. They are usually well trained on their company’s products which helps them sell on service rather than price.

The following is a list of exclusive insurance agents in Lexington willing to provide rate quotes.

201 Ruccio Way #120Lexington, KY 40503(859) 276-4366View Map

2891 Richmond Rd Ste 115Lexington, KY 40509(859) 268-3222View Map

2240 Executive Dr Ste 103Lexington, KY 40505(859) 243-0162View Map

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Picking a insurance agent requires you to look at more than just the price. These are some questions you should get answers to.

One last thing about your coverage

When shopping online for car insurance, don’t be tempted to reduce needed coverages to save money. There are a lot of situations where drivers have reduced full coverage only to regret that the small savings ended up costing them much more. Your aim should be to purchase plenty of coverage at the lowest possible cost and still be able to protect your assets.

Budget-friendly car insurance in Lexington can be bought from both online companies and from local insurance agents, so you need to quote Lexington car insurance with both in order to have the best chance of saving money. Some insurance providers don’t offer rates over the internet and these regional insurance providers provide coverage only through independent insurance agents.

Even more information can be read in the articles below: