Who Has the Cheapest Lexington Car Insurance Rates for Retired Military?

The words “low-priced” and “auto insurance” really shouldn’t be used together, specifically when you are looking for the best insurance rates for retired military. To help control this cost, let’s introduce you to a few of the things that influence insurance premiums, and find some ways to shave a little off the next policy you buy.

The car, truck, or SUV requiring insurance is probably the most important factor when comparing the most economical car insurance for retired military. Vehicles with reasonable performance levels, advanced safety features, or a track record of few liability claims will cost much less to insure than adrenaline junky models.

The table below presents auto insurance prices for the most budget-friendly vehicles to buy coverage for.

Cheapest Vehicles to Insure in Lexington, KY
Make and Model Estimated Cost for Full Coverage
Ford Escape XLS 2WD $834
Ford Explorer XLT AWD $935
Honda CR-V EX 4WD $968
Chevrolet Impala LS $970
Chevrolet Equinox LT AWD $989
Ford F-150 XL Super Cab 4WD $1,022
Jeep Wrangler Sport Islander Package 4WD 2-Dr $1,036
Toyota Prius $1,044
Ford Edge SEL 2WD $1,059
Ford Fusion Sport 4-Dr Sedan $1,061
Nissan Rogue S 2WD $1,066
Jeep Grand Cherokee Limited 4WD $1,061
Toyota RAV4 Limited 2WD $1,081
Toyota Tacoma Double Cab 4WD $1,091
Toyota Camry LE $1,081
Dodge Grand Caravan Crew $1,102
Volkswagen Jetta LE 4-Dr Sedan $1,112
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Table data represents single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Kentucky minimum liability limits. Discounts applied include claim-free, multi-policy, homeowner, safe-driver, and multi-vehicle. Rate quotes do not factor in specific location which can change premium rates considerably.

Based upon these rates, you can infer that cars like the Ford Escape, Ford Explorer, Honda CR-V, Chevrolet Impala, and Chevrolet Equinox will be a few of the most affordable vehicles to insure for veterans.

One of the many things that determine auto insurance rates is your address in Lexington. Cities with larger populations will most likely have higher rates, whereas areas with lower crime rates and fewer weather claims have the luxury of lower rates.

The table below ranks the most expensive areas in Kentucky for retired military to buy car insurance in. Lexington makes the list at #17 with the annual price of $1,499 on average, which is about $125 per month.

How much does car insurance cost in Lexington, KY?
Rank City Annual Rate
1 Louisville $2,090
2 Frankfort $1,795
3 Ashland $1,673
4 Jeffersontown $1,668
5 Radcliff $1,654
6 Saint Matthews $1,643
7 Madisonville $1,616
8 Elizabethtown $1,595
9 Paducah $1,583
10 Danville $1,581
11 Murray $1,549
12 Winchester $1,547
13 Hopkinsville $1,523
14 Nicholasville $1,519
15 Covington $1,517
16 Henderson $1,511
17 Lexington $1,499
18 Georgetown $1,491
19 Richmond $1,490
20 Florence $1,485
21 Erlanger $1,478
22 Fort Thomas $1,455
23 Independence $1,436
24 Bowling Green $1,418
25 Owensboro $1,390
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Premium amounts are estimated as the specific area where the vehicle is garaged can increase or decrease coverage prices substantially.

Finding out which company offers the lowest-priced auto insurance rates for retired military involves a tad more effort than just comparing a company or two. Each company has a unique formula to set policy rates, so we’ll take a look at the lowest cost auto insurance companies in Kentucky.

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Rankings for the cheapest Kentucky auto insurance companies
Rank Company Cost Per Year
1 Cincinnati Insurance $1,093
2 Kentucky Farm Bureau $1,174
3 USAA $1,223
4 Auto-Owners $1,413
5 Grange Mutual $1,561
6 Motorists Mutual $1,569
7 Travelers $1,614
8 Westfield $1,814
9 State Farm $1,867
10 Safe Auto $1,972
11 Progressive $2,077
12 Nationwide $2,085
13 Electric $2,139
14 State Auto $2,166
15 Encompass $2,358
16 GEICO $2,413
17 Safeco $2,763
18 Shelter $3,135
19 MetLife $3,146
20 Liberty Mutual $3,708
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Cincinnati Insurance offers some of the lowest car insurance rates in Lexington at around $1,093 a year. This is $1,050 less than the average rate paid by Kentucky drivers of $2,143. Kentucky Farm Bureau, USAA, Auto-Owners, and Grange Mutual would also be considered some of the lowest-priced Lexington, KY car insurance companies.

In the above rates, if you buy coverage from Auto-Owners and switched to Cincinnati Insurance, you might achieve an annual premium reduction of about $320. Customers with Grange Mutual could save as much as $468 a year, and Motorists Mutual insureds might lower prices by up to $476 a year.

To compare your rates to other Kentucky insurance companies, click here to start a quote or feel free to get quotes from the companies below.

Remember that these prices are averaged across all insureds and vehicles and are not factoring in a specific vehicle garaging location for retired military. So the company that can offer the best rates for your situation may not even be in the top 21 companies shown above. That illustrates why you need to quote rates from many companies using your own specific driver information and vehicle.

The illustration below shows how different deductible levels can impact premium costs when searching for cheap insurance for retired military. The price estimates are based on a married female driver, full physical damage coverage, and no discounts are applied to the premium.

The data above shows that a 50-year-old driver could lower their policy premium by $224 a year by increasing from a $100 deductible to a $500 deductible, or save $338 by selecting a $1,000 deductible. Youthful drivers, like the age 20 example, could lower their rates as much as $554 annually by using higher deductibles when buying full coverage. If you do make the decision to raise your deductibles, it is essential to have plenty of discretionary funds to be able to cover the extra out-of-pocket expense, which is the main disadvantage of using high deductibles.

Buying coverage from a good quality insurance company is difficult considering how many companies sell coverage in Lexington. The company ratings listed below may help you decide which coverage providers you want to consider when comparing insurance rates for retired military. The ratings below include companies with a national presence, so companies that have a smaller presence are not factored into this list.

Best Ten Auto Insurance Companies for Retired Military in Kentucky
Company Value Customer Service Claims Customer Satisfaction A.M Best Rating Overall Score
Travelers 93 98 99 88% A++ 95.1
USAA 83 99 100 91% A++ 94.1
AAA Insurance 91 95 92 90% A 93.3
Nationwide 85 95 97 89% A+ 92.4
Allstate 77 100 97 88% A+ 90.7
State Farm 80 94 96 88% A++ 90.6
The Hartford 88 93 91 87% A+ 90.4
Safeco Insurance 91 95 85 88% A 90.2
Progressive 88 94 83 88% A+ 90.1
American Family 91 86 95 83% A 89.7
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Data Source: Insure.com Best Car Insurance Companies

Get discount Lexington auto insurance rates

Cheaper Lexington, KY auto insurance for veteransInsurance companies that offer coverage for retired military may provide special discounts that can reduce rates by 25% or more if you meet eligibility requirements. A few of the larger companies and the discounts they provide can be read below.

The chart below illustrates the comparison of insurance costs with and without policy discounts. The information is based on a female driver, no claims or driving citations, Kentucky state minimum liability limits, comp and collision included, and $500 deductibles.

The first bar for each age group shows the price with no discounts. The second bar shows the rates with multiple policy, accident-free, defensive driving course, vehicle safety, anti-theft, and safe-driver discounts applied. When drivers take advantage of discounts, theaverage yearly reduction on auto insurance for retired military is 28% or $444.