Finding out which company quotes the lowest-priced auto insurance rates for a school permit calls for more work than just comparing rates from one or two companies. Each auto insurer has their own process for determining rates, so to begin we’ll rank the auto insurance companies with the overall best prices in Lexington, KY.
It’s important that you understand Kentucky auto insurance rates are based on many factors which can substantially decrease or increase the price of coverage. Getting older, buying higher coverage limits, or getting caught speeding can produce rate changes that can cause some rates to be more affordable than competitors.
Find the Cheapest Car Insurance for Students
Cincinnati Insurance may offer some of the cheapest car insurance rates in Lexington at around $1,082 each year. Kentucky Farm Bureau, USAA, Auto-Owners, and Grange Mutual also rank well as some of the lowest-priced Lexington, KY insurance companies.
As shown in the rates above, if you have coverage with Auto-Owners and switched to Cincinnati Insurance, you could realize an annual premium reduction of roughly $289. Kentucky drivers with Grange Mutual may save as much as $495 a year, and Travelers customers might reduce rates by $532 a year.
Bear in mind that those prices are averaged across all types of insureds and vehicles and do not take into consideration a specific zip code for a school permit. So the insurer that has the cheapest price for you may not even be in the top 21 companies shown above. That affirms the importance of why you need to get car insurance quotes using your own driver information and specific vehicle type.
The vehicle you are buying coverage for is probably the largest consideration that determines whether or not you find the most economical auto insurance for a school permit. Vehicles with lower performance, advanced safety features, or a positive history of liability claims will cost less to insure than higher performance models.
The table below shows auto insurance rates for a number of the most cost-effective automobiles to buy coverage for.
|Vehicle Insured||Estimated Cost for Full Coverage|
|Hyundai Elantra GLS Touring Station Wagon||$3,013|
|Honda CR-V LX 4WD||$3,021|
|Jeep Wrangler Sport 4WD 2-Dr||$3,164|
|Ford Escape Limited 4WD||$3,232|
|Dodge Grand Caravan SE||$3,384|
|Volkswagen Jetta 2.0T Station Wagon||$3,454|
|Honda Odyssey EX||$3,546|
|Ford Edge SEL 2WD||$3,554|
|Toyota RAV4 Limited 4WD||$3,575|
|Chevrolet Malibu LS||$3,583|
|Toyota Camry LE||$3,575|
|Chevrolet Impala LT||$3,584|
|Jeep Grand Cherokee Laredo 4WD||$3,575|
|Chevrolet Equinox LS AWD||$3,585|
|Nissan Altima 2.5 4-Dr Sedan||$3,575|
|Dodge Ram 3500 Crew Cab Laramie 2WD||$3,605|
|Ford Explorer Limited 4WD||$3,614|
|Ford F-150 SVT Raptor Super Cab 4WD||$3,605|
|Chevrolet Silverado LS Regular Cab 2WD||$3,652|
|Toyota Corolla S||$3,765|
|Toyota Tacoma X-Runner 2WD||$3,771|
|GMC Sierra SLE Crew Cab 2WD||$3,796|
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Above prices assume single female driver age 17, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Kentucky minimum liability limits. Discounts applied include safe-driver, and claim-free. Price estimates do not factor in your specific Lexington, KY location which can decrease or increase coverage rates greatly.
Based on these rates, you can expect models like the Hyundai Elantra, Honda CR-V, Jeep Wrangler, and Ford Escape should be a few of the more affordable vehicles to insure for a learners permit. The cost of a car insurance policy will tend to be higher because there is more claim risk for a school permit, but in general those specific models will tend to have the cheapest car insurance rates compared to other vehicles.
One of the many criteria that are looked at to help calculate the cost of insurance is the neighborhood you call home in Lexington. Areas with increased crime or more people are more likely to have higher rates, whereas areas with less crime or weather claims have the enjoyment of a little cheaper coverage.
The next table rates the most expensive places in Kentucky for a school permit to buy an auto insurance policy in. Lexington makes the list at #21 with an annual cost of $1,469 on average, which is approximately $122 per month.
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Premium amounts are comparative as specific Lexington garaging address can raise or lower premiums considerably.
Discount Lexington insurance
Insurance providers that sell policies for a school permit may have price discounts that can lower rates by 25% or more if you meet the requirements. Large auto insurance companies and the discounts they provide are included below.
- Travelers may have discounts that include new car, multi-car, multi-policy, driver training, early quote, and home ownership.
- 21st Century discounts include homeowners, good student, teen driver, air bags, automatic seat belts, 55 and older, and driver training.
- State Farm has discounts for defensive driving training, driver’s education, Steer Clear safe driver discount, good driver, and good student.
- GEICO may include discounts for seat belt use, federal employee, anti-lock brakes, five-year accident-free, multi-vehicle, and emergency military deployment.
- SAFECO includes discounts for drive less, accident prevention training, anti-lock brakes, multi-car, anti-theft, teen safety rewards, and homeowner.
- AAA has savings for pay-in-full, AAA membership discount, good driver, multi-policy, education and occupation, and anti-theft.
The information below compares insurance costs with and without discounts. The information is based on a male driver, no claims or violations, Kentucky state minimum liability limits, full physical damage coverage, and $250 deductibles.
The first bar for each age group shows the price with no discounts. The lower bar shows the rates with passive restraint, continuous coverage, vehicle safety, good student, paperless filing, and paid-in-full discounts applied. When discounts are factored in, theaverage amount saved on auto insurance for a school permit is 28% or $607.
The diagram below highlights how deductible selection can affect insurance costs when quoting cheap insurance for a school permit. The rate quotes are based on a single male driver, comprehensive and collision coverage, and no discounts are taken into consideration.
A 50-year-old driver could lower their policy premium by $268 a year by increasing from a $100 deductible up to a $500 deductible, or save $404 by changing to a $1,000 deductible. Youthful drivers, like the age 20 example, have the ability to save as much as $880 annually just by using higher deductibles. When insureds make the decision to increase the deductibles on their policy, it is essential to have spare funds to satisfy the extra out-of-pocket expense that comes with higher deductibles.
Your cheap policy may actually be overpriced
Kentucky auto insurance rates are impacted by many factors that may substantially change your annual premium. Improving your credit score, buying a different home, or having an at-fault accident may generate price changes resulting in some rates now being much cheaper than others.
Also, insurance companies amend pricing every year to adjust for gains or losses. Higher than usual claims may result in additional premium costs, while a better loss history can cause more affordable Lexington car insurance rates.
To help illustrate this point, the data below shows which company has the cheapest car insurance in Lexington, KY for a 45-year-old female driver with no accidents or violations, and a good credit history. When quoting prices based on her current rating profile, Cincinnati Insurance may have the best car insurance rates in Lexington at $1,109 per year. This is $1,034 less than the average rate paid by Kentucky drivers of $2,143. Kentucky Farm Bureau, USAA, Auto-Owners, and Grange Mutual also make the list of the cheapest Lexington, KY auto insurance companies.
Let’s now give the driver in the first chart a claim, bad credit, and a speeding citation. Since each company has their own process for determining rates, comparing prices could result in a completely different list of affordable companies as shown below.
Travelers now has the cheapest price in Lexington, KY with USAA, Kentucky Farm Bureau, Westfield, and State Farm now being in the top five. This example proves why it is critical to perform a complete rate comparison when trying to find the best insurance quotes for a school permit.
Insurance rates can be determined by many factors and can decrease or increase without notice, so the best company the last time you checked may now be one of the more expensive options.
How to find low-cost insurance for a school permit
The list below summarizes some penny-pinching suggestions that can help drivers locate lower-cost coverage.
- Keep your driving record clean
- Having too many claims will increase rates substantially
- Save money by bundling your home and auto policies
- Drivers with good credit ratings often pay less
- Raise your physical damage coverage deductibles
- Having at-fault accidents will increase rates
- Compare prices frequently to find the best deal
The final tip is extraordinarily valuable, as was noted in this write-up. Coverage rates can be adjusted at any time, so drivers shouldn’t be reluctant to change to a new company if a cheaper rate is available.
Having a favorite company is fine, but is isn’t recommended if that loyalty ends up costing money that could be going to better use. Now is a great time to compare prices and find cheaper car insurance for a school permit in Lexington.