If your goal is the lowest price, then the best way to save on auto insurance rates is to start doing a yearly price comparison from insurance carriers in Lexington. You can compare rates by completing these steps.
- Step 1: Get a basic knowledge of what is in your policy and the modifications you can make to prevent high rates. Many risk factors that cause rate increases such as speeding and a low credit rating can be eliminated by paying attention to minor details.
- Step 2: Compare rates from independent agents, exclusive agents, and direct companies. Direct and exclusive agents can only give rate quotes from one company like GEICO or Allstate, while independent agents can quote rates from multiple sources.
- Step 3: Compare the new rate quotes to your existing rates to see if switching to a new carrier will save money. If you find a better price and switch companies, make sure there is no coverage gap between policies.
- Step 4: Notify your company or agent to cancel your current car insurance policy and submit the completed application along with a down payment to the newly selected company. As soon as you receive it, safely store the certificate of insurance in an easily accessible location.
One tip to remember is to try to compare the same physical damage deductibles and liability limits on each quote request and and to analyze every company you can. Doing this helps ensure an apples-to-apples comparison and maximum price selection.
It’s an obvious conclusion that car insurance companies want to prevent you from shopping around. People who shop around at least once a year are very likely to switch to a new company because there are good odds of finding lower rate quotes. Surprisingly, a recent survey revealed that drivers who compared prices once a year saved $3,400 over four years compared to those who never shopped around for lower prices.
If finding budget-friendly rates on auto insurance in Lexington is your objective, then having a grasp of how to shop and compare insurance can help you succeed in saving money.
Finding the cheapest car insurance coverage in Lexington is not that difficult as long as you know where to start. If you have insurance now, you will surely be able to save money using the tips covered below. Smart buyers only have to learn the proper way to compare prices instantly.
The companies in the list below are ready to provide quotes in Kentucky. To buy the best car insurance in KY, it’s a good idea that you visit as many as you can to get a more complete price comparison.
Three reasons to insure your vehicle
Even though Lexington 200 insurance rates can get expensive, insuring your vehicle may be mandatory for several reasons.
- Almost all states have minimum liability requirements which means you are required to carry a specific minimum amount of liability insurance coverage in order to drive the car legally. In Kentucky these limits are 25/50/10 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If you have a lien on your vehicle, almost all lenders will require you to have physical damage coverage to protect their interest in the vehicle. If you do not keep the policy in force, the bank will be required to insure your Chrysler for a much higher rate and force you to reimburse them for the much more expensive policy.
- Car insurance protects both your assets and your car. It also can pay for medical bills for yourself as well as anyone injured by you. Liability coverage, the one required by state law, will also pay to defend you in the event you are sued. If you receive damage to your vehicle caused by a storm or accident, comprehensive (other-than-collision) and collision coverage will pay to repair the damage minus the deductible amount.
The benefits of insuring your 200 more than offset the price you pay, especially when you need to use it. According to a survey of 1,000 drivers, the average driver is overpaying more than $865 each year so compare quotes from several companies each time the policy renews to be sure current rates are still competitive.
Take policy discounts and save on Chrysler 200 insurance in Lexington
Insuring your fleet can be pricey, but you might be missing out on some discounts that you may not know about. A few discounts will automatically apply when you purchase, but some discounts are required to be asked for before you get the savings.
- Lexington Homeowners Pay Less – Just being a homeowner may trigger a policy discount on insurance because owning a home shows financial diligence.
- Payment Method – By paying your entire bill at once instead of monthly or quarterly installments you could save 5% or more.
- Claim Free – Lexington drivers who stay claim-free have much lower rates in comparison with insureds who have frequent claims or accidents.
- Multi-line Discount – Some insurance companies give a discounted price on car insurance if you buy a life policy as well.
- Good Student Discount – Excelling in school can get you a discount of up to 25%. You can use this discount normally up until you turn 25.
- Discount for New Cars – Insuring a new 200 can save you some money since new model year vehicles have better safety ratings.
- Anti-lock Brakes – Cars and trucks with ABS and/or traction control can avoid accidents so you can save 10 percent or more.
- Safety Course Discount – Participating in a safe driver course could cut 5% off your bill depending on where you live.
Don’t be shocked that some of the credits will not apply to all coverage premiums. Most only apply to the cost of specific coverages such as comprehensive or collision. So even though you would think all those discounts means the company will pay you, insurance companies wouldn’t stay in business.
Larger insurance companies and the discounts they provide can be read below.
- Esurance discounts include claim free, good student, renters, Switch & Save, and anti-theft.
- The Hartford may have discounts that include driver training, air bag, defensive driver, vehicle fuel type, good student, and anti-theft.
- AAA offers discounts including pay-in-full, anti-theft, education and occupation, good driver, and multi-policy.
- GEICO includes discounts for federal employee, good student, seat belt use, daytime running lights, and driver training.
- State Farm offers discounts for accident-free, multiple autos, Drive Safe & Save, safe vehicle, student away at school, defensive driving training, and good driver.
If you need lower rates, check with all companies you are considering what discounts are available to you. Some discounts listed above may not apply to policyholders in your area. If you would like to view providers that can offer you the previously mentioned discounts in Kentucky, follow this link.
There’s no such thing as the perfect auto insurance policy
Always keep in mind that when comparing the best auto insurance coverage, there really is not a perfect coverage plan. Your situation is unique.
Here are some questions about coverages that might help in determining if your situation would benefit from an agent’s advice.
- Why do I only qualify for high-risk insurance?
- I don’t drive much so do I pay less?
- Why am I be forced to buy a membership to get insurance from some companies?
- Can I use my car for my catering business?
- Is pet coverage available?
- Does my Chrysler 200 qualify for pleasure use?
If you don’t know the answers to these questions, then you may want to think about talking to a licensed insurance agent. To find lower rates from a local agent, take a second and complete this form. It’s fast, free and you can get the answers you need.
Lexington car insurance company ratings
Ending up with the right insurance company can be difficult considering how many choices there are in Kentucky. The company rank data in the lists below can help you choose which auto insurance companies to look at when comparing rate quotes.
Top 10 Lexington Car Insurance Companies 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%
Top 10 Lexington Car Insurance Companies Ranked by Customer Service
- AAA Insurance
- Safeco Insurance
- State Farm
- The Hartford
- The General