How Much is Car Insurance for Electric Cars in Lexington?

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.

How much is car insurance in Lexington?
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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Rankings for the cheapest Kentucky auto insurance companies
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.

Cheapest Vehicles to Insure in Lexington, KY
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

Cheaper Lexington, KY car insurance for eco-friendly vehiclesInsurance 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.

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

  1. USAA – 91%
  2. AAA Insurance – 90%
  3. Esurance – 90%
  4. Nationwide – 89%
  5. Travelers – 88%
  6. Progressive – 88%
  7. Safeco Insurance – 88%
  8. State Farm – 88%
  9. Allstate – 88%
  10. 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.