Compare Dodge Challenger Insurance Quotes in Lexington

Unthinkable but true, nearly 70% of drivers kept buying from the same company for four years or more, and nearly 40% of drivers have never compared auto insurance rates at all. Drivers in Lexington could save an average of up to $631 each year, but they just don’t understand the amount of savings they would get if they swap their current policy for a cheaper one.

The easiest way to find cheaper car insurance rates in Lexington is to start doing an annual price comparison from providers who provide car insurance in Kentucky. Prices can be compared by following these steps.

• First, it will benefit you to learn about the different coverages in a policy and the things you can change to drop your rates. Many rating factors that cause rate increases like high-risk driving behaviors and a negative credit history can be rectified by making minor driving habit or lifestyle changes.
• Second, compare prices from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can only give prices from a single company like GEICO and Allstate, while independent agencies can provide rate quotes for a wide range of companies.
• Third, compare the price quotes to your existing coverage and determine if cheaper Challenger coverage is available. If you can save some money, ensure there is no coverage lapse between policies.
• Fourth, provide proper notification to your current company of your decision to cancel your current car insurance policy and submit the completed application along with a down payment to the new company. When you receive it, place your new proof of insurance paperwork in an easily accessible location.

An important bit of advice to remember is to use similar deductibles and liability limits on every quote request and and to get price estimates from every insurance company. This guarantees an apples-to-apples comparison and a better comparison of the market.

We hope to help you learn the best ways to compare prices. If you currently have car insurance, you stand a good chance to be able to find better prices using the ideas presented in this article. Drivers just need to know the most efficient way to find the lowest price online.

Getting a low cost price on insurance isn’t really that difficult. You just have to spend a few minutes to compare rate quotes online from several insurance companies.

Comparing free rate quotes online is easy and it, takes the place of having to drive to different agent offices. Buying insurance online makes this unnecessary unless you’re the type of person who wants the guidance of an agent trained in personal lines coverage. It is possible to compare the best prices online but buy the policy through an agent.

The companies shown below offer free quotes in Kentucky. If your goal is to find cheap auto insurance in KY, we recommend you visit two to three different companies to get the lowest price.

Rate information and statistics

The rate information shown next outlines estimates of insurance policy prices for Dodge Challenger models. Knowing how insurance premiums are figured can help drivers make smart policy decisions.

Above prices assume single male driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Kentucky minimum liability limits. Discounts applied include safe-driver, multi-vehicle, claim-free, multi-policy, and homeowner. Rate information does not factor in Lexington location which can revise insurance rates considerably.

Deductible analysis

One of the hardest decisions when shopping for car insurance is what deductibles to buy. The figures shown below highlight the rate difference between low and high insurance deductibles. The first rate estimation uses a $250 comprehensive and collision deductible and the second price table uses a $1,000 deductible.

Data variables include married male driver age 30, no speeding tickets, no at-fault accidents, and Kentucky minimum liability limits. Discounts applied include multi-vehicle, multi-policy, claim-free, safe-driver, and homeowner. Table data does not factor in your specific Lexington location which can modify insurance rates greatly.

Based on these figures, using a $250 deductible will cost you about $31 more each month or $372 each year averaged for all Challenger models than choosing the higher $1,000 deductible. Since the policyholder would be required to pay $750 more out-of-pocket with a $1,000 deductible as compared to a $250 deductible, if you normally go at least 24 months between claims, you would probably be better off going with the higher deductible.

Annual premiums for males compared to females in Lexington

The illustration below shows the difference between Dodge Challenger car insurance rates for male and female drivers. The data is based on no claims or violations, full coverage, $100 deductibles, marital status is single, and no discounts are applied.

Comparison of full coverage and liability-only policies

The diagram below shows the comparison of Dodge Challenger car insurance costs with full physical damage coverage compared to only buying liability only. The price estimates are based on no claims or driving citations, $1,000 deductibles, drivers are single, and no policy discounts are applied.

When to stop buying physical damage coverage

There is no definitive guideline to drop comp and collision coverage, but there is a general school of thought. If the annual cost of your full coverage insurance is about 10% or more of the settlement you would receive from your company, then it might be time to buy liability only.

For example, let’s say your Dodge Challenger book value is $4,000 and you have $1,000 policy deductibles. If your vehicle is totaled, the most you would get paid by your company is $3,000 after paying your deductible. If you are paying more than $300 annually for your policy with full coverage, then it’s probably a good time to buy liability coverage only.

There are some circumstances where dropping full coverage is not recommended. If you haven’t paid off your loan, you are required to maintain full coverage to satisfy the loan requirements. Also, if you cannot afford to purchase a different vehicle in case of an accident, you should not remove full coverage.

Protect more than your Dodge Challenger

Despite the high insurance cost for a Dodge Challenger in Lexington, insurance may be required and benefits you in several ways.

• Just about all states have mandatory liability insurance requirements which means state laws require a specific level of liability insurance in order to be legal. 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 took out a loan on your vehicle, most lenders will force you to buy insurance to guarantee payment of the loan. If you let the policy lapse, the bank or lender will purchase a policy for your Dodge for a lot more money and require you to pay for the much more expensive policy.
• Auto insurance protects both your Dodge Challenger and your assets. It will also pay for many types of medical costs for both you and anyone you injure as the result of an accident. One policy coverage, liability insurance, will also pay for a defense attorney in the event you are sued. If your car is damaged in a storm or accident, collision and comprehensive (also known as other-than-collision) coverage will pay to restore your vehicle to like-new condition.

The benefits of carrying adequate insurance greatly outweigh the cost, especially with large liability claims. In a recent study of 1,000 drivers, the average customer is currently overpaying as much as $850 per year so shop around each time the policy renews to be sure current rates are still competitive.

Components of Your Dodge Challenger Insurance Premiums

An important part of buying insurance is that you know a few of the rating criteria that come into play when calculating your premiums. When you understand what determines base rates, this allows you to make good choices that can earn you lower car insurance prices.

• Policy add-ons can waste money – There are many extra bells and whistles that sound like a good idea at the time when buying car insurance. Insurance for vanishing deductibles, towing, and term life insurance are some examples. They may seem good at first, but your money might be better spent on other coverage so remove them and pocket the money.
• Get hitched and get cheaper costs – Having a wife or husband actually saves money on car insurance. Having a significant other may mean you are more financially stable it has been statistically shown that married drivers get in fewer accidents.

• Insurance is expensive for youthful drivers – Older, more experienced drivers are viewed as being more responsible, cost insurance companies less in claims, and tend to be get fewer driving tickets. Beginning drivers are known to be less responsible in a vehicle and because of this, their car insurance rates are much higher.

  The following data uses these assumptions: single driver, full coverage with $500 deductibles, and no discounts or violations.

• Insurance prices are higher for high performance vehicles – The performance level of the car, truck or SUV you need insurance for makes a big difference in your premium level. Low performance passenger cars generally receive the lowest base rates, but that’s not the only thing that factors into the final price.

  The chart below uses these assumptions: single male driver age 50, full coverage with $100 deductibles, and no discounts or violations. The data compares Dodge Challenger policy rates compared to other makes and models that have a range of risk factors.

• How do annual miles impact premiums? – The more you drive your Dodge annually the more it will cost to insure it. A lot of companies price each vehicle’s coverage based on their usage. Autos that do not get driven very much can get a lower rate than those that get driven frequently. Double check that your vehicle rating shows how each vehicle is driven. Having the wrong rating on your Challenger can cost quite a bit.
• File claims and pay more – If you are a frequent claim filer, you should expect either higher rates or even cancellation. Car insurance companies in Kentucky generally give discounts to drivers who are claim-free. Insurance coverage is meant to be used in the event of larger claims.

• Premiums increase with driving tickets – Even a single moving violation can increase the cost of insurance forty percent or more. Good drivers pay less for auto insurance than bad drivers. Drivers who have gotten careless tickets like DUI, reckless driving or excessive speeding may face state-mandated requirements to file a proof of financial responsibility form (SR-22) with their state’s department of motor vehicles in order to drive a vehicle legally.

  The information below shows how speeding tickets and at-fault fender-benders increase Dodge Challenger annual premium costs for different ages of insureds. The prices are based on a single female driver, comp and collision included, $500 deductibles, and no discounts are factored in.

Verify you’re applying every discount

Some insurers do not list every policy discount very clearly, so the below list has a few of the more common and also the more inconspicuous savings tricks you should be using when you buy Lexington car insurance online. If you check and find you aren’t receiving every discount available, you are paying more than you should be.

• Claim Free – Drivers who don’t have accidents can earn big discounts when compared with drivers who are more careless.
• Save over 55 – If you qualify as a senior citizen, you can get reduced rates.
• College Student – Youth drivers living away from Lexington attending college and don’t have a car may qualify for this discount.
• No Charge for an Accident – Not a discount per se, but a handful of insurance companies allow you one accident before raising your premiums so long as you haven’t had any claims prior to being involved in the accident.
• Defensive Driver Discount – Successfully completing a defensive driver course could save 5% or more depending on where you live.

A quick disclaimer, most credits do not apply to the entire cost. Most only reduce the price of certain insurance coverages like comprehensive or collision. So when it seems like all the discounts add up to a free policy, company stockholders wouldn’t be very happy.

The chart below shows the comparison of Dodge Challenger insurance premiums with and without policy discounts. Data assumes a male driver, no violations or accidents, Kentucky state minimum liability limits, full physical damage coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, multi-policy, marriage, homeowner, claim-free, and safe-driver discounts applied.

Large insurance companies and some of the discounts are:

• Travelers has discounts for good student, driver training, continuous insurance, home ownership, early quote, and hybrid/electric vehicle.
• 21st Century offers discounts including early bird, good student, air bags, automatic seat belts, defensive driver, student driver, and driver training.
• State Farm has savings for student away at school, Drive Safe & Save, passive restraint, defensive driving training, and multiple policy.
• GEICO offers premium reductions for driver training, five-year accident-free, defensive driver, military active duty, and multi-vehicle.
• SAFECO offers discounts for homeowner, anti-lock brakes, anti-theft, multi-car, accident prevention training, drive less, and teen safety rewards.
• AAA discounts include pay-in-full, AAA membership discount, good driver, good student, anti-theft, and multi-policy.

Before buying, ask each company or agent to give you their best rates. Depending on the company, some discounts may not apply in Lexington. To see a list of insurance companies with the best Dodge Challenger insurance discounts in Lexington, click here to view.

Don’t assume everyone needs the same insurance coverage

When it comes to adequate coverage, there isn’t really a one size fits all plan. Every insured’s situation is different.

Here are some questions about coverages that could help you determine if you would benefit from professional advice.

• Is there coverage for injuries to my pets?
• Do I need to file an SR-22 for a DUI in Kentucky?
• Does my car insurance cover rental cars?
• What can I do if my company won’t pay a claim?
• I have good health insurance, so how much medical payments coverage do I need?
• What is the difference between personal and commercial auto insurance policies?
• Can I get a multi-policy discount for packaging my home and auto coverage?
• When do I need to add a new car to my policy?
• Is coverage enough to protect my assets?
• Is my business laptop covered if it gets stolen from my vehicle?

If you can’t answer these questions but you think they might apply to your situation, then you may want to think about talking to a licensed insurance agent. To find an agent in your area, fill out this quick form. It’s fast, doesn’t cost anything and may give you better protection.

Car insurance quotes from local Lexington insurance agencies

Certain consumers prefer to buy from a licensed agent and there is nothing wrong with that. Insurance agents will help you protect your assets and help file insurance claims. One of the benefits of comparing rates online is that you can find cheap rate quotes but still work with a licensed agent. And supporting local insurance agents is especially important in Lexington.

Once you complete this quick form, your coverage information is immediately sent to agents in your area that can give you free Lexington car insurance quotes for your business. There is no need to visit any agencies because prices are sent to the email address you provide. If you need to quote rates from a specific car insurance provider, you would need to navigate to their website and fill out their quote form.

Types of auto insurance agents in Lexington

If you want to use a local insurance agency, it’s important to understand the different agency structures that differ in how they can insure your vehicles. Lexington agents are either independent or exclusive depending on the company they work for. Both types can properly insure your vehicles, but it’s worth learning how they differ because it can influence the kind of agent you use.

Independent Car Insurance Agencies or Brokers

Agents that elect to be independent are not required to write business for one company so they can quote policies through many companies enabling the ability to shop coverage around. If you want to switch companies, the business is moved internally and the insured can keep the same agent. When comparing car insurance prices, we recommend you get quotes from several independent insurance agents for the best price selection.

Below is a small list of independent insurance agents in Lexington who can help you get cheap rate quotes.

More Lexington agents

Exclusive Car Insurance Agencies

Agents that elect to be exclusive are contracted to one company and some examples include AAA, Allstate, State Farm, or Farmers Insurance. They generally cannot provide prices from multiple companies so if the price isn’t competitive there isn’t much they can do. Exclusive insurance agents are usually well trained in insurance sales and that can be a competitive advantage.

The following is a list of exclusive insurance agencies in Lexington willing to provide rate quotes.

More Lexington agents

Deciding on an auto insurance agent requires more thought than just the premium amount. These are some questions your agent should answer.

• Are they properly licensed to sell insurance in Kentucky?
• Do they get paid more for recommending certain coverages?
• What are their preferred companies if they are an independent agency?
• Which members of your family are coverage by the policy?
• Do they see any coverage gaps in your plan?
• Can they give you a list of client referrals?
• Does the company allow you to choose your own collision repair facility?
• What is the financial rating for the quoted company?

After you get good feedback and an acceptable price quote, most likely you have located an insurance agency that meets the criteria to properly insure your vehicles.

Ratings for Kentucky car insurance companies

Ending up with the top insurance provider can be difficult considering how many companies sell coverage in Kentucky. The ranking data displayed below may help you choose which car insurance providers you want to consider purchasing from.

Top 10 Lexington Car Insurance Companies Overall

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

Top 10 Lexington Car Insurance Companies by A.M. Best Rank

1. Travelers – A++
2. USAA – A++
3. GEICO – A++
4. State Farm – A++
5. Erie Insurance – A+
6. Esurance – A+
7. Progressive – A+
8. Nationwide – A+
9. The Hartford – A+
10. Allstate – A+

Lower rates by being persistent

As you shop your coverage around, you should never skimp on coverage in order to save money. There are many occasions where an insured dropped comprehensive coverage or liability limits only to discover later that it was a big error on their part. Your goal should be to purchase a proper amount of coverage at the best cost while not skimping on critical coverages.

People change insurance companies for many reasons like delays in paying claims, extreme rates for teen drivers, not issuing a premium refund or delays in responding to claim requests. No matter why you want to switch, finding a new car insurance company can be easy and end up saving you some money.

Cost effective Dodge Challenger insurance can be sourced on the web and from local agencies, so get free Lexington car insurance quotes from both of them to have the best rate selection. There are still a few companies who do not offer online rate quotes and these smaller companies provide coverage only through independent agents.

More detailed car insurance information can be found at these sites:

• Side Impact Crash Tests (iihs.org)
• Who Has Cheap Car Insurance for High Risk Drivers in Lexington? (FAQ)
• What Insurance is Cheapest for High Mileage Drivers in Lexington? (FAQ)
• What Auto Insurance is Cheapest for Used Cars in Lexington? (FAQ)
• What Auto Insurance is Cheapest for a Learners Permit in Lexington? (FAQ)
• Who Has Affordable Auto Insurance Quotes for a 20 Year Old Male in Lexington? (FAQ)
• Who Has Affordable Auto Insurance for Drivers Over Age 60 in Lexington? (FAQ)
• Senior Drivers (Insurance Information Institute)
• How to Avoid Staged Accidents (State Farm)
• Bodily Injury Coverage (Liberty Mutual)
• Things to Know Before you Cancel Insurance (Allstate)