A recent NerdWallet.com study revealed that almost 70% of insureds kept their coverage with the same insurance company for four years or more, and almost half have never compared insurance rates at all. Lexington drivers could save nearly $630 a year just by getting comparison quotes, but most just don’t grasp how much they could save if they swap their current policy for a cheaper one.
Really, the only way to find better pricing on Chevy Volt insurance in Lexington is to start doing an annual price comparison from providers who sell auto insurance in Kentucky.
Step 1: Spend some time learning about how companies set rates and the things you can change to keep rates in check. Many rating criteria that cause high rates such as speeding tickets, accidents and a negative credit history can be amended by paying attention to minor details. Later in this article we will cover the details to help prevent high rates and find overlooked discounts.
Step 2: Compare price quotes from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can only give prices from a single company like Progressive or Allstate, while agents who are independent can quote prices from multiple insurance companies.
Step 3: Compare the new rates to your current policy and see if you can save money. If you find a better price and buy the policy, make sure coverage does not lapse between policies.
Step 4: Provide notification to your current company of your decision to cancel the current policy. Submit the signed application along with the required initial payment to the new company. When you receive it, safely store the certificate verifying coverage in an easily accessible location.
One thing to point out is to try to compare the same deductibles and limits on every quote request and and to get rates from as many different companies as possible. Doing this provides an apples-to-apples comparison and a complete selection of prices.
Buying more affordable coverage in Lexington is quite easy. In essence, every person who is required to buy auto insurance stands a good chance to get better rates. Nevertheless, Kentucky car owners must comprehend the way companies compete online because rates fluctuate considerably.
Cheap Chevy Volt insurance in Lexington
Auto insurance is expensive, but you might already qualify for some discounts that you may not know about. Many of these discounts will be applied automatically when you complete an application, but some need to be specially asked for before you will receive the discount. If you check and find you aren’t receiving every discount available, it’s possible you qualify for a lower rate.
- Drivers Education – Require your teen driver to successfully take a driver’s education course in school.
- No Charge for an Accident – This one isn’t a discount, but a few companies such as State Farm and GEICO will let one accident slide without raising rates if you are claim-free prior to being involved in the accident.
- Passenger Safety Discount – Vehicles with factory air bags or motorized seat belts may earn rate discounts of 25 to 30%.
- Discount for Swiching Early – Some companies provide a discount for switching to them prior to the expiration date on your current Volt insurance policy. This discount can save up to 10%.
- Sign Online – Many auto insurance companies provide a small discount for buying your policy digitally online.
- New Vehicle Savings – Buying a new car model may earn a small discount due to better safety requirements for new model year vehicles.
A quick disclaimer, some of the credits will not apply to your bottom line cost. Most only reduce specific coverage prices like liability, collision or medical payments. So despite the fact that it appears adding up those discounts means a free policy, auto insurance companies aren’t that generous.
Large auto insurance companies and some of the premium reductions they offer can be found below.
- Progressive includes discounts for multi-policy, homeowner, online quote discount, multi-vehicle, good student, online signing, and continuous coverage.
- AAA offers discounts for good driver, anti-theft, good student, pay-in-full, multi-policy, multi-car, and AAA membership discount.
- Farmers Insurance may include discounts for switch companies, early shopping, good student, youthful driver, and multi-car.
- GEICO may have discounts that include multi-policy, federal employee, multi-vehicle, air bags, anti-lock brakes, emergency military deployment, and anti-theft.
- Esurance may offer discounts for defensive driver, Switch & Save, safety device, DriveSense, anti-theft, and anti-lock brakes.
- SAFECO offers discounts including accident prevention training, drive less, teen safety rewards, bundle discounts, homeowner, and teen safe driver.
- State Farm discounts include driver’s education, defensive driving training, accident-free, student away at school, and multiple policy.
When getting free Lexington car insurance quotes, it’s a good idea to every company how many discounts you can get. Some discounts might not apply in every state. If you would like to view companies who offer free Chevy Volt insurance quotes in Kentucky, click this link.
Cheap Lexington Chevy Volt insurance quotes
The majority of larger companies allow you to get insurance quotes on the web. Doing online quotes for Chevy Volt insurance in Lexington is quite simple as you simply type in your coverage preferences as detailed in the form. Once you submit the form, the company’s rating system obtains your driving and credit reports and provides a quote based on the information you submitted.
Getting online rates for Chevy Volt insurance in Lexington simplifies rate comparisons, and it’s absolutely necessary to do this if you want to get lower-cost rates.
To find out if lower rates are available, compare rates now from the companies shown below. To compare your current rates, we recommend you copy deductibles and limits identical to your current policy. This makes sure you will receive a rate comparison using the exact same coverages.
The providers in the list below offer quotes in Lexington, KY. If multiple companies are listed, we recommend you visit as many as you can in order to find the most affordable rates.
Insurance Cost Influencing Factors
Lots of things are part of the calculation when you get your auto insurance bill. Some factors are common sense like your driving record, although some other factors are less obvious like your continuous coverage and annual miles driven. Consumers need to have an understanding of some of the things that go into determining your premiums. If you have a feel for what positively or negatively impacts your premiums, this empowers consumers to make smart changes that will entitle you to lower rates.
The itemized list below are some of the major factors insurance companies consider when setting your rate level.
Drive less and get lower rates – The more you drive every year the higher the price you pay to insure it. A lot of companies apply a rate partially by how you use the vehicle. Cars that have low annual miles receive better premium rates than those that get driven frequently. Make sure your insurance coverage properly reflects the correct driver usage, because it can save money. Incorrect rating for your Volt can result in significantly higher rates.
Better insurance rates for continuous coverage – Allowing your coverage to lapse is a quick way to drive up your policy premiums. In addition to paying higher rates, getting caught without coverage can result in fines and jail time. You may have to prove you have insurance by filing a SR-22 with the Kentucky DMV.
Gender and insurance premiums – Statistics show women tend to be less risk to insure than men. Now that doesn’t mean females are better at driving than males. Women and men are responsible for accidents in similar numbers, but men cause more damage and cost insurance companies more money. Men also statistically get more serious tickets like driving under the influence (DUI). Male drivers age 16 to 19 are most likely to cause an accident and therefore have the most expensive insurance rates.
Performance affects insurance rates – The type of vehicle you are buying insurance for makes a big difference in how high your rates are. The lowest rates tend to be for low performance passenger models, but many other things help determine your insurance rates.
Being married brings a discount – Walking down the aisle may save some money when shopping for insurance. Having a spouse usually means you are more stable financially and insurance companies like that married couples file fewer claims.
Insurance loss probability for a Chevy Volt – Insurance companies use past loss statistics for each vehicle to help determine the price you pay. Vehicles that the statistics show to have higher claim amounts or frequency will have a higher cost to insure.
The data below shows the loss history for Chevy Volt vehicles. For each coverage category, the claim amount for all vehicles, regardless of manufacturer or model, is represented as 100. Values that are under 100 imply a favorable loss record, while values that are 100 or greater indicate higher probability of having a loss or an increased chance of larger losses than average.
|Vehicle Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Chevrolet Volt Electric||89||83||81||71||73||90|
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Everyone needs different car insurance coverages
Keep in mind that when it comes to choosing insurance from an agent or online, there isn’t really a single plan that fits everyone. Everyone’s situation is unique.
These are some specific questions can help discover whether your personal situation would benefit from professional advice.
- When should my teen driver be added to my policy?
- Does my insurance cover damage caused when ticketed for reckless driving?
- Do I pay less if my vehicle is kept in my garage?
- Should I waive the damage coverage when renting a car?
- Do I need replacement cost coverage on my Chevy Volt?
- Do I have coverage for damage caused while driving under the influence?
- Is my custom stereo system covered?
- Does medical payments coverage apply to all occupants?
- Do I have newly-acquired coverage?
- What is GAP insurance?
If it’s difficult to answer those questions but you think they might apply to your situation, you might consider talking to a licensed agent. If you don’t have a local agent, simply complete this short form.
Independent and exclusive insurance agencies
Certain consumers still like to have an agent’s advice and that is not a bad decision A nice benefit of getting online price quotes is the fact that drivers can get lower premium rates and still have an agent to talk to. Buying from small agencies is important especially in Lexington.
After completing this quick form, your information is emailed to local insurance agents in Lexington that can give you free Lexington car insurance quotes for your insurance coverage. It simplifies rate comparisons since you won’t have to contact an agency because quoted prices will be sent immediately to your email address. You can find the lowest rates and a licensed agent to talk to. If you wish to get a price quote from a particular provider, you would need to visit that company’s website and fill out the quote form the provide.
The following are Lexington car insurance companies that may be willing to give comparison quotes for Chevy Volt insurance in Lexington.
- Nicole Wright Insurance Agency
169 E Reynolds Rd #102 – Lexington, KY 40517 – (859) 971-0221 – View Map
- GEICO Insurance Agent
3100 Old Todds Rd #110 – Lexington, KY 40509 – (859) 286-8655 – View Map
- Keystone Sills Insurance Agency
210 Malabu Dr – Lexington, KY 40502 – (859) 276-1881 – View Map
- Allstate Insurance: Bryon Elkins
3101 Richmond Rd #311a – Lexington, KY 40509 – (859) 488-2531 – View Map
Deciding on a insurance company needs to be determined by more than just the price. Before buying a policy in Lexington, get answers to these questions.
- Will you get a loaner vehicle if you car is being repaired?
- What is the agency’s Better Business Bureau rating?
- Do they offer claims assistance after hours?
- How often do they review coverages?
- Is the agent CPCU or CIC certified?
- Do they prorate repair cost based on vehicle mileage?
- Which companies do they recommend if they are an independent agency?
Three reasons to insure your Volt
Despite the high cost, paying for insurance is a good idea for several reasons.
- The majority of states have compulsory liability insurance requirements which means it is punishable by state law to not carry specific minimum amounts of liability coverage if you want to drive 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 Chevy Volt, almost every bank will require you to buy full coverage to guarantee their interest in the vehicle. If the policy lapses, the lender may insure your Chevy at a much higher rate and require you to pay the higher price.
- Insurance safeguards your Chevy and your assets. It will also provide coverage for medical expenses incurred in an accident. One policy coverage, liability insurance, also pays for attorney fees and expenses if you are sued as the result of an accident. If mother nature or an accident damages your car, your insurance policy will pay to repair the damage minus the deductible amount.
The benefits of insuring your car definitely exceed the cost, particularly if you ever have a claim. According to a recent study, the average American driver is overpaying more than $700 annually so we recommend shopping around each time the policy renews to ensure rates are competitive.
Don’t give up on cheaper rates
Consumers leave their current company for a variety of reasons including questionable increases in premium, poor customer service, delays in paying claims and even unfair underwriting practices. It doesn’t matter why you want to switch choosing a new company is pretty easy and you might even save some money in the process.
Cheap Chevy Volt insurance in Lexington can be bought from both online companies in addition to many Lexington insurance agents, and you should compare price quotes from both to have the best selection. There are still a few companies who may not have internet price quotes and usually these small, regional companies only sell coverage through independent insurance agencies.
We’ve covered many tips how you can get a better price on Chevy Volt insurance in Lexington. The key thing to remember is the more quotes you get, the better your chances of lowering your prices. Consumers may even find the best premium rates are with the smaller companies.
To learn more, take a look at the following helpful articles:
- Smart Auto Insurance Tips (Insurance Information Institute)
- What Auto Insurance is Cheapest for a Learners Permit in Lexington? (FAQ)
- Who Has Affordable Auto Insurance for Low Mileage Drivers in Lexington? (FAQ)
- Who Has Affordable Lexington Car Insurance Quotes for a Toyota RAV4? (FAQ)
- Who Has Cheap Lexington Car Insurance for a Kia Forte? (FAQ)
- Who Has the Cheapest Car Insurance for Active Military in Lexington? (FAQ)
- Who Has the Cheapest Auto Insurance for Drivers with a DUI in Lexington? (FAQ)
- Get the Right Protection (InsureUonline.org)
- Red Light Cameras (State Farm)
- Teen Driver Licensing Information (iihs.org)
- Speed and Speed Limit FAQ (iihs.org)