For eco-friendly vehicles, one of the largest factors that aid in calculating the amount you pay for auto insurance is where you normally keep your vehicle. Cities with more crime and/or more people likely pay more, whereas areas with less crime or weather claims have the enjoyment of a little cheaper coverage.
The table below shows the priciest cities in Kentucky for electric cars to purchase auto insurance in. Lexington is ranked at #22 costing $1,454 on average, which is around $121 monthly.
| Rank | City | Annual Rate |
|---|---|---|
| 1 | Louisville | $2,090 |
| 2 | Frankfort | $1,725 |
| 3 | Saint Matthews | $1,711 |
| 4 | Jeffersontown | $1,685 |
| 5 | Ashland | $1,656 |
| 6 | Radcliff | $1,606 |
| 7 | Murray | $1,597 |
| 8 | Elizabethtown | $1,595 |
| 9 | Paducah | $1,583 |
| 10 | Madisonville | $1,568 |
| 11 | Winchester | $1,563 |
| 12 | Henderson | $1,557 |
| 13 | Georgetown | $1,551 |
| 14 | Danville | $1,549 |
| 15 | Covington | $1,532 |
| 16 | Nicholasville | $1,504 |
| 17 | Independence | $1,480 |
| 18 | Hopkinsville | $1,478 |
| 19 | Erlanger | $1,478 |
| 20 | Richmond | $1,475 |
| 21 | Bowling Green | $1,461 |
| 22 | Lexington | $1,454 |
| 23 | Florence | $1,441 |
| 24 | Fort Thomas | $1,397 |
| 25 | Owensboro | $1,390 |
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Premium amounts are approximated as the specific area where the vehicle is garaged can increase or decrease premiums greatly.
Finding decent, budget auto insurance is challenging, and finding out which company offers the cheapest car insurance rates for electric cars requires a bit more work. Each insurer has their own formula for setting rates, so first let’s look at the rankings for the car insurance companies that tend to have lower prices in Lexington.
Best Cheap Insurance Rates for EV’s
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| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Cincinnati Insurance | $1,126 |
| 2 | Kentucky Farm Bureau | $1,139 |
| 3 | USAA | $1,175 |
| 4 | Auto-Owners | $1,399 |
| 5 | Motorists Mutual | $1,553 |
| 6 | Grange Mutual | $1,625 |
| 7 | Travelers | $1,631 |
| 8 | State Farm | $1,793 |
| 9 | Westfield | $1,888 |
| 10 | Safe Auto | $1,991 |
| 11 | Nationwide | $2,024 |
| 12 | Progressive | $2,119 |
| 13 | Electric | $2,160 |
| 14 | State Auto | $2,188 |
| 15 | Encompass | $2,358 |
| 16 | GEICO | $2,437 |
| 17 | Safeco | $2,681 |
| 18 | Shelter | $3,167 |
| 19 | MetLife | $3,177 |
| 20 | Liberty Mutual | $3,708 |
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Cincinnati Insurance generally has some of the cheapest car insurance rates in Lexington at around $1,126 a year. Kentucky Farm Bureau, USAA, Auto-Owners, and Motorists Mutual would also make the list of some of the most economical Lexington, KY auto insurance companies.
As depicted above, if you currently buy coverage from Auto-Owners and switched to Cincinnati Insurance, you could realize a yearly savings of in the neighborhood of $273. Customers with Motorists Mutual might save as much as $427 a year, and Grange Mutual customers might lower prices by $499 a year.
To see how much you can save, click here to start a quote or visit any of the low-priced companies below.
These rates are averaged for all types of drivers and the different vehicles they drive and and are not calculated with a specific location for electric cars. So the insurer that is most affordable for your situation may not even be in the list above. That is why you need to compare rates from multiple companies using your own individual information.
The car, truck, or SUV requiring insurance is one of the largest considerations when consumers are trying to find the best insurance for electric cars. Vehicles with higher performance, poor passenger safety features, or high incidents of liability claims will cost substantially more to insure than safer, lower-performance models. The next list illustrates coverage costs for a handful of the cheaper automobiles to insure in Kentucky.
| Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape Limited 2WD | $923 |
| Toyota Camry LE | $1,070 |
| Dodge Ram 3500 Crew Cab Laramie 2WD | $1,091 |
| Ford Focus SEL 4-Dr Sedan | $1,102 |
| Chevrolet Impala LTZ | $1,124 |
| Honda CR-V EX-L 4WD | $1,132 |
| Ford Fusion SE 4-Dr Sedan | $1,145 |
| Nissan Altima 3.5 SR 4-Dr Sedan | $1,150 |
| Chevrolet Malibu LTZ | $1,145 |
| Ford Explorer XLT AWD | $1,160 |
| Toyota Tacoma 4WD | $1,170 |
| Ford F-350 Super Cab Lariat 2WD | $1,186 |
| Ford Edge Limited 2WD | $1,201 |
| Hyundai Elantra SE Touring Station Wagon | $1,204 |
| Chevrolet Equinox LS AWD | $1,225 |
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Prices based on single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Kentucky minimum liability limits. Discounts applied include claim-free, multi-vehicle, multi-policy, homeowner, and safe-driver. Rate quotes do not factor in garaging location in Lexington, KY which can raise or lower coverage rates noticeably.
Based upon the table data, vehicles like the Ford Escape, Toyota Camry, and Dodge Ram 3500 are the less-costly vehicles to insure for eco-friendly vehicles.
Get discounts on Lexington car insurance rates
Insurance providers that provide coverage for electric cars may also offer price discounts that can reduce rates by 25% or more if you meet the requirements. A few popular companies and their offered discounts are detailed below.
- GEICO discounts include military active duty, multi-vehicle, anti-theft, seat belt use, and five-year accident-free.
- Auto-Owners Insurance includes discounts for paperless, multi-policy, air bags, paid in full, anti-theft, good student, and group or association.
- American Family may include discounts for early bird, accident-free, Steer into Savings, good student, and defensive driver.
- Esurance may offer discounts for online quote, Pac-12 alumni, multi-policy, online shopper, DriveSense, defensive driver, and anti-lock brakes.
- Progressive may have discounts that include online quote discount, multi-policy, homeowner, good student, and multi-vehicle.
- State Farm has savings for multiple policy, driver’s education, good driver, safe vehicle, multiple autos, and accident-free.
- AAA offers discounts for AAA membership discount, multi-car, pay-in-full, anti-theft, good driver, and education and occupation.
The diagram below illustrates the comparison of premium costs with and without discounts applied. The premiums are based on a male driver, no claims 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 bar shows the rates with vehicle safety, defensive driving course, passive restraint, claim-free, marriage, and anti-theft discounts applied. When discounts are factored in, theamount saved on car insurance for electric cars is 28% or $427.
Finding a high-quality auto insurance company can be a challenge considering how many companies sell insurance in Lexington. The ranking information in the lists below may help you pick which car insurance providers you want to consider when insurance shopping for electric cars.
These rankings are only made up of companies with a nationwide focus, so companies that focus mainly on Kentucky business will not be included in the list. To compare prices from the insurers below and more, just click here.
Top 10 Large Auto Insurance Companies in Lexington Ranked by Customer Satisfaction
- USAA – 91%
- AAA Insurance – 90%
- Esurance – 90%
- Nationwide – 89%
- Travelers – 88%
- Progressive – 88%
- Safeco Insurance – 88%
- State Farm – 88%
- Allstate – 88%
- The Hartford – 87%
Your cheap policy may actually be overpriced
Lexington car insurance rates are impacted by many things which can substantially decrease or increase the price you pay for coverage. Simply turning a year older, getting divorced, or getting a couple of tickets can produce rate changes resulting in some companies being cheaper than competitors. Not only may things change on your end, but insurance companies change their prices every year or even multiple times each year to help ensure profitability. Higher than normal claims may result in increased rates, while a better loss history may cause more affordable Lexington car insurance rates.
To help illustrate this point, the data below shows the companies that have the cheapest car insurance in Lexington, KY for a 35-year-old male driver with no prior accidents, a clean driving record, and great credit. If we estimate rates based on his current risk factors, Cincinnati Insurance quotes the cheapest car insurance rates in Lexington at $1,214 a year. This is $929 less than the average rate paid by Kentucky drivers of $2,143. Kentucky Farm Bureau, USAA, Auto-Owners, and Motorists Mutual are also included in the cheapest Lexington, KY auto insurance companies.
Now let’s give the driver from the first rate comparison a chargeable claim, less-than-perfect credit, and a few traffic violations. Due to the fact that every auto insurer uses their own formula to set policy rates, analyzing rates may now show a different set of affordable companies as shown below.
USAA now has the cheapest car insurance in Lexington, KY with Kentucky Farm Bureau, Travelers, State Farm, and Westfield also having competitive pricing. This example proves why Kentucky drivers need to shop around with many companies to find the best auto insurance quotes for electric cars.
Auto insurance prices are calculated by many factors and change frequently, so the lowest-price company the last time you shopped around may now not even be in the top five.