Who Has the Cheapest Auto Insurance Rates for Drivers with Accidents in Lexington?

The words “cheap” and “insurance” probably shouldn’t be used in the same sentence, especially when you are looking for the cheapest coverage for drivers with accidents. Because it’s so expensive, let’s go over some of the things that help determine auto insurance prices, and find out if you can slash the price of the next policy you buy.

Establishing which companies have the cheapest car insurance rates for drivers with accidents calls for more work than just picking a company at random.

Each auto insurance company used slightly different criteria to set policy rates, so we will examine the car insurance companies that tend to have lower prices in Lexington, KY.

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Who has the cheapest car insurance in Kentucky?
Rank Company Cost Per Year
1 Cincinnati Insurance $1,093
2 Kentucky Farm Bureau $1,139
3 USAA $1,223
4 Auto-Owners $1,413
5 Motorists Mutual $1,553
6 Grange Mutual $1,577
7 Travelers $1,680
8 State Farm $1,812
9 Westfield $1,814
10 Safe Auto $1,932
11 Nationwide $2,024
12 Electric $2,076
13 Progressive $2,140
14 State Auto $2,188
15 Encompass $2,358
16 GEICO $2,437
17 Safeco $2,709
18 MetLife $3,053
19 Shelter $3,135
20 Liberty Mutual $3,634
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Cincinnati Insurance generally has some of the most affordable car insurance rates in Lexington at around $1,093 each year. This is $1,050 less than the average price paid by Kentucky drivers of $2,143. Kentucky Farm Bureau, USAA, Auto-Owners, and Motorists Mutual are also some of the more affordable Lexington, KY insurance companies.

As the rates illustrate above, if you are currently insured with Kentucky Farm Bureau and switched to Cincinnati Insurance, you might realize a yearly price reduction of in the neighborhood of $46. Kentucky drivers with USAA could save as much as $130 a year, and Auto-Owners customers might see rate reductions of $320 a year.

Bear in mind that those policy rates are averaged across all ages of drivers and types of vehicles and do not factor in a specific zip code for drivers with accidents. So the company that is best for you may not even be in the list above. That emphasizes why you need to compare as many prices as possible using your own individual information.

For drivers with at-fault accidents, one of the largest criteria that are looked at to determine insurance cost is where you keep your car in Lexington. Regions with larger populations or more claims will most likely pay more, whereas areas with lower crime rates and fewer weather claims benefit from lower coverage costs.

The information below sorts the most expensive areas in Kentucky for drivers with accidents in which to buy car insurance. Lexington is ranked #22 costing $1,454 on average, which is around $121 each month.

How much does car insurance cost in Lexington, KY?
Rank City Average Per Year
1 Louisville $2,154
2 Frankfort $1,742
3 Ashland $1,707
4 Saint Matthews $1,694
5 Jeffersontown $1,668
6 Radcliff $1,654
7 Madisonville $1,600
8 Paducah $1,583
9 Danville $1,581
10 Murray $1,565
11 Elizabethtown $1,547
12 Henderson $1,541
13 Richmond $1,535
14 Hopkinsville $1,523
15 Winchester $1,517
16 Covington $1,517
17 Georgetown $1,506
18 Nicholasville $1,504
19 Independence $1,480
20 Florence $1,471
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Premium amounts are approximated as specific Lexington zip code can impact coverage prices greatly.

Finding a good quality auto insurance provider is hard considering how many different companies sell coverage in Lexington. The company information below could help you select which insurers you want to consider when shopping insurance around for drivers with accidents.

The rankings below are for companies that insure vehicles across America, so smaller companies are not factored into this list. If you wish to compare rates from the insurers below and more, just click here.

Top 10 Large Car Insurance Companies in Lexington Ranked by Customer Service

  1. USAA
  2. Travelers
  3. AAA Insurance
  4. Nationwide
  5. Safeco Insurance
  6. Progressive
  7. State Farm
  8. The Hartford
  9. The General
  10. Esurance

Violations and accidents raise rates

The obvious way to find cheap car insurance premiums in Lexington for drivers with at-fault accidents is to pay attention while driving and avoid getting tickets or having accidents. The information below shows how violations and at-fault claims drive up yearly insurance costs for different age categories. The data assumes a married male driver, full physical damage coverage, $100 deductibles, and no policy discounts are applied.

In the prior example, the average cost of an auto insurance policy per year with no violations or accidents is $2,137. Get two speeding tickets and the average cost hikes up to $2,960, an increase of $823 each year. Next add two accidents along with the two speeding tickets and the annual cost of car insurance for drivers with accidents increases to an average of $5,907. That’s an increase of $3,771, or $314 per month, just for not driving carefully!

Difference between full coverage and liability only rates

Saving money on car insurance is probably important to most people, and one easy way to reduce the cost of insurance for drivers with accidents is to only buy liability insurance. The information below compares insurance prices with full coverage and liability only. The data assumes no tickets, no at-fault accidents, $250 deductibles, single status, and no other discounts are factored in.

As an average, physical damage insurance costs an additional $1,718 per year more than just insuring for liability. That amount may make you wonder if physical damage coverage is worth the money. There isn’t a steadfast formula to stop buying full coverage on your policy, but there is a general school of thought. If the yearly cost of full coverage is 10% or more of the settlement you would receive from your company, then it may be the right time to buy liability only.

There are some conditions where dropping physical damage coverage is not financially feasible. If you haven’t paid off your loan, you have to keep full coverage to protect the lienholder’s interest. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is in an accident, you should keep full coverage in place.

The agencies below are willing to help you determine which coverages you need, since some drivers wish to get some professional input when trying to find lower insurance rates for drivers with accidents. It’s not always simple to find the best policy on your own, so insurance agents licensed in the state of Kentucky can bring peace of mind knowing you have enough protection.

To locate a Lexington insurance agent in your neighborhood, click the button at the bottom of the list.

Al Torstrick Insurance Agency
343 Waller Ave #101Lexington, KY 40504(859) 233-1461

Strong Insurance Agency, LLC
80 Codell Dr #120Lexington, KY 40509(859) 263-5840

Joe Daugherty – State Farm Insurance Agent
651 Perimeter Dr Ste 204Lexington, KY 40517(859) 269-4990

Neely Taylor-Wade Insurance
133 Walton AveLexington, KY 40508(859) 233-7855

State Farm: Gina Hopper
115 S Locust Hill Dr #107Lexington, KY 40509(859) 268-6998

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