The type of vehicle requiring coverage is probably the biggest factor in finding the best auto insurance for felons. Vehicles with more horsepower, poor safety ratings, or a high likelihood of having liability claims will cost quite a bit more to insure than safer, lower-performance models.
The table below estimates auto insurance premiums for some of the more affordable vehicles to buy insurance for.
|Vehicle Make and Model||Estimated Cost for Full Coverage|
|Ford Escape Limited 4WD||$1,015|
|Honda Odyssey LX||$1,026|
|Honda CR-V EX 4WD||$1,046|
|Honda Accord EX 4-Dr Sedan||$1,057|
|Jeep Grand Cherokee Laredo 4WD||$1,109|
|Toyota Camry LE||$1,116|
|Ford Fusion S 4-Dr Sedan||$1,109|
|Chevrolet Malibu LS||$1,116|
|Chevrolet Impala LT||$1,109|
|Hyundai Elantra SE Touring Station Wagon||$1,111|
|Ford Explorer Eddie Bauer 4WD||$1,128|
|Ford Focus SEL 4-Dr Sedan||$1,146|
|Ford Edge SEL 2WD||$1,185|
|Nissan Rogue S 2WD||$1,187|
|Ford F-350 XLT Super Cab 2WD||$1,209|
|Dodge Grand Caravan SXT||$1,233|
|Jeep Wrangler Unlimited Sahara 2WD 4-Dr||$1,237|
|Toyota RAV4 Limited 4WD||$1,244|
|Kia Optima SX||$1,266|
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Data rating is based on single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Kentucky minimum liability limits. Discounts applied include claim-free, multi-policy, multi-vehicle, homeowner, and safe-driver. Rate information does not factor in zip code location which can affect premiums considerably.
Looking at the numbers, we can infer that models like the Ford Escape, Honda Odyssey, and Honda CR-V will be the cheapest vehicles to insure for felons.
For felons, one of the largest considerations that are looked at to help calculate auto insurance rates is where your car is garaged. More populated areas tend to have higher auto insurance costs, whereas areas with fewer weather claims and lower vehicle theft rates profit from lower rates.
The following table rates the priciest cities in Kentucky for felons to purchase a policy in. Lexington is ranked at #16 having an annual price of $1,499 for coverage, which is approximately $125 per month.
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Table data uses approximated as the garaging address in Lexington can decrease or increase coverage prices noticeably.
Finding decent, reasonably-priced car insurance is easier said than done, and deciding which company has the most affordable insurance rates for felons takes a little more work.
Each company has their own guidelines to set policy rates, so we'll take a look at the insurance companies that tend to be cheaper in Kentucky. It's important to know that Kentucky insurance rates are determined by lots of factors that control the cost of coverage. That is why it is critical to perform a complete rate comparison to find the best auto insurance rates for felons. Rates are impacted by many factors and change substantially, so the most affordable company a year ago may now be one of the higher cost companies.
Find the Best Cheap Insurance for Felons
Cincinnati Insurance normally has some of the lowest car insurance rates in Lexington at around $1,082 a year. Kentucky Farm Bureau, USAA, Auto-Owners, and Grange Mutual are also some of the cheapest Lexington, KY car insurance companies.
As the example above demonstrates, if you currently have coverage with USAA and switched to Cincinnati Insurance, you could earn annual savings of in the vicinity of $105. Insureds with Auto-Owners may save as much as $275 a year, and Grange Mutual customers might see rate reductions of $527 a year.
Remember that these prices are averaged for all types of insureds and vehicles and do not factor in an exact location for felons. So the insurer that has the lowest price for you may not even be in the top 21 companies shown above. That underscores the importance of why you need to get quotes using your own specific driver and vehicle information.
Difference between full coverage and liability only rates
Finding the cheapest insurance is important to the majority of people, and one common way to save on the cost of insurance for felons is to only buy liability insurance. The example below illustrates the difference between car insurance rates when comparing full coverage to liability only. The data is based on no driving violations, no at-fault accidents, $500 deductibles, drivers are not married, and no other discounts are factored in.
As an average, full coverage on your policy costs $2,088 per year more than just insuring for liability. That is a big expense that brings up the question when is it a good idea to stop buying full coverage. There is no exact formula to drop comp and collision coverage, but there is a guideline you can consider. If the yearly cost of comp and collision coverage is more than about 10% of the vehicle's replacement cost less your deductible, the it may be a good time to stop paying for full coverage.
For example, let's say your vehicle's claim settlement value is $4,000 and you have $1,000 full coverage deductibles. If your vehicle is damaged in an accident, the most you would receive is $3,000 after you pay the deductible. If premiums are more than $300 annually for physical damage coverage, then you might want to consider buying only liability coverage.
There are some cases where buying only liability insurance is not in your best interest. If you have an outstanding loan on your vehicle, you must maintain physical damage coverage to satisfy the loan requirements. Also, if you don't have enough money to buy a different vehicle in case of an accident, you should maintain full coverage.
The information below illustrates how your choice of deductibles can raise or lower insurance costs when searching for cheap insurance for felons. The costs are based on a married female driver, comprehensive and collision coverage, and no discounts are factored in.
A 30-year-old driver could reduce rates by $310 a year by switching their comprehensive and collision coverages from a $100 deductible up to a $500 deductible, or save $468 by using a $1,000 deductible. Even younger insureds, like the 20-year-old, could reduce their rates $662 annually just by using higher deductibles. When insureds make the decision to increase the deductibles on their policy, it's a good idea to have spare funds to pay the extra out-of-pocket expense. That is the one disadvantage of using higher deductibles.
Discount Lexington insurance
Insurance providers that provide policies for felons may also provide rate discounts that could reduce prices by as much as 35% or more if you meet specific criteria. Large insurance companies and a summarized list of policyholder discounts are outlined below.
- State Farm may have discounts that include student away at school, Drive Safe & Save, multiple autos, defensive driving training, anti-theft, and good driver.
- GEICO offers discounts for daytime running lights, driver training, military active duty, federal employee, defensive driver, and multi-vehicle.
- Allstate offers premium reductions for 55 and retired, premier plus, utility vehicle, early signing, EZ pay plan discount, auto/life discount, and resident student.
- SAFECO has discounts for teen safe driver, multi-car, safe driver, accident prevention training, and anti-lock brakes.
- Farm Bureau discounts include driver training, multi-policy, multi-vehicle, good student, and 55 and retired.
- Progressive offers discounts including continuous coverage, homeowner, online signing, good student, multi-vehicle, online quote discount, and multi-policy.
- AAA includes discounts for multi-car, good driver, multi-policy, education and occupation, and pay-in-full.
The chart below illustrates the comparison of insurance premiums with and without policy discounts. The information is based on a female driver, no claims or driving violations, Kentucky state minimum liability limits, comp and collision included, and $1,000 deductibles.
The first bar for each age group shows premium with no discounts. The second bar shows the rates with multiple vehicle, multiple policy, safe-driver, claim-free, defensive driving course, and anti-theft discounts applied. When discounts are factored in, theaverage yearly reduction on insurance for felons is 28% or $488.
The auto insurance agents in Lexington shown below are willing to aid you in deciding which insurance coverage will be best for you, since some drivers aren't sure which coverage they need and prefer to have some professional guidance when comparing insurance rates for felons. It's not always simple to find the cheapest rate yourself, and insurance agents can bring satisfaction knowing your policy gives you sufficient coverage at claim time. To find a Lexington insurance agency in your neighborhood, click the button at the bottom of the list.
Carpenter-Warren Insurance Inc
271 W Short St # 304 - Lexington, KY 40507 - (859) 252-6691
John Parkhurst - State Farm Insurance
1795 Alysheba Way #2104 - Lexington, KY 40509 - (859) 264-4422
Carroll and Stone Insurance Services
4384 Clearwater Way - Lexington, KY 40515 - (859) 269-1044