It’s astonishing, but most insurance policyholders have bought insurance from the same company for more than four years, and about 40% of consumers have never even compared rates from other companies. The average driver in Kentucky can save nearly $600 each year by just comparing rate quotes, but they don’t invest the time required to compare rates.
If you want to save the most money, the best way to get cheaper car insurance rates is to start doing a yearly price comparison from insurers who provide car insurance in Lexington.
- Read and learn about what is in your policy and the things you can control to prevent high rates. Many factors that result in higher rates like at-fault accidents, careless driving, and a negative credit score can be amended by making small lifestyle or driving habit changes.
- Get rate quotes from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can give quotes from one company like GEICO and Allstate, while agents who are independent can give you price quotes from multiple insurance companies.
- Compare the new quotes to the premium of your current policy to see if switching to a new carrier will save money. If you can save money and switch companies, make sure there is no lapse in coverage.
- Tell your current company of your intention to cancel your current policy and submit a completed policy application and payment to your new agent or company. Immediately place your new certificate verifying coverage in a readily accessible location in your vehicle.
A good tip to remember is to compare the same level of coverage on every quote and and to get quotes from as many different companies as possible. This enables a fair price comparison and a complete rate analysis.
Many insurance companies allow consumers to get insurance quotes from their websites. Comparing prices online for Audi S5 insurance in Lexington is possible for anyone as you just type in your coverage preferences into a form. Once you submit the form, the quote system obtains information on your driving record and credit history and returns a price quote based on these factors. Getting online price quotes for Audi S5 insurance in Lexington makes it simple to compare prices and it’s absolutely necessary to have as many quotes as possible if you want to find cheap prices.
To find out how much you’re overpaying now, check out the auto insurance providers below. If you have coverage now, it’s recommended you copy the coverages as close as possible to your current policy. Doing this guarantees you’re receiving a price comparison based on similar coverages.
The companies in the list below are ready to provide free quotes in Lexington, KY. To buy the cheapest auto insurance in Lexington, KY, we suggest you compare several of them in order to find the lowest rates.
Three reasons to insure your S5
Even though it can be expensive, insuring your vehicle is required in Kentucky but also provides important benefits.
- The majority of states have minimum liability requirements which means the state requires specific minimum amounts of liability insurance in order to get the vehicle licensed. 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 your vehicle has a lienholder, almost all lenders will make it a condition of the loan that you buy full coverage to ensure the loan is repaid in case of a total loss. If you default on your policy, the bank may buy a policy for your Audi for a much higher rate and force you to reimburse them the higher price.
- Insurance safeguards your car and your assets. Insurance will also pay for most medical and hospital costs for not only you but also any passengers injured in an accident. Liability insurance will also pay to defend you if you are sued as the result of your driving. If damage is caused by hail or an accident, your car insurance policy will cover the damage repairs after a deductible is paid.
The benefits of having car insurance are definitely more than the cost, particularly if you ever have a claim. Today the average American driver overpays more than $850 per year so you should quote rates at every policy renewal to make sure the price is not too high.
Rates and information analytics
The price information shown next highlights estimates of rate quotes for Audi S5 models. Having a better understanding of how insurance quotes are figured can be of help when making informed decisions when comparing rate quotes.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|S5 4.2 Quattro 2-Dr Coupe||$382||$1000||$396||$24||$118||$1,920||$160|
|S5 4.2 Quattro 2-Dr Coupe||$382||$1000||$396||$24||$118||$1,920||$160|
|S5 3.0 Quattro 2-Dr Convertible||$382||$896||$396||$24||$118||$1,816||$151|
|S5 4.2 Quattro 2-Dr Coupe||$382||$1104||$396||$24||$118||$2,024||$169|
|S5 4.2 Quattro 2-Dr Coupe||$382||$1104||$396||$24||$118||$2,024||$169|
|S5 3.0 Quattro 2-Dr Convertible||$418||$1000||$396||$24||$118||$1,956||$163|
|Get Your Own Custom Quote Go|
Data based on single male driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Kentucky minimum liability limits. Discounts applied include multi-policy, safe-driver, homeowner, claim-free, and multi-vehicle. Prices do not factor in garaging location in Lexington which can raise or lower prices substantially.
The illustration below demonstrates how deductible levels and can influence Audi S5 yearly insurance costs for each different age category. Data assumes a single male driver, full physical damage coverage, and no additional discounts are factored in.
Poor driving habits will raise your auto insurance rates
The diagram below illustrates how violations and accidents can raise Audi S5 yearly insurance costs for each age group. The costs are based on a married female driver, full physical damage coverage, $500 deductibles, and no policy discounts are applied.
Audi S5 liability rates compared to full coverage
The information below illustrates the comparison of Audi S5 insurance prices when comparing full coverage to liability only. The data is based on a clean driving record, no at-fault accidents, $1,000 deductibles, drivers are single, and no discounts are applied to the premium.
Should you pay for full coverage?
There is no exact rule of when to phase out comp and collision coverage, but there is a general guideline you can use. If the annual cost of having full coverage is more than 10% of any settlement you would receive from your insurance company, then you may need to consider dropping full coverage.
For example, let’s pretend your Audi S5 replacement value is $9,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled, you would only receive $8,000 after paying the physical damage deductible. If you are paying over $800 a year for comprehensive and collision coverage, then you might want to think about dropping full coverage.
There are some circumstances where dropping full coverage is not a good idea. If you haven’t paid off your loan, you must maintain physical damage coverage as part of the loan requirements. Also, if you don’t have enough money to buy a different vehicle if your current one is totaled, you should keep full coverage in place.
Discounts can help to save on Audi S5 insurance in Lexington
Car insurance companies don’t necessarily list every discount available very well, so the below list has a few of the more well known as well as some of the hidden discounts that you may qualify for.
- Switch and Save Discount – A few auto insurance companies offer discounts for renewing your policy prior to your current S5 insurance policy expiring. You can save around 10% with this discount.
- Professional Memberships – Joining specific professional or occupational memberships or organizations is a good way to get lower rates when getting a Lexington car insurance quote.
- Payment Discounts – If you can afford to pay the entire bill as opposed to paying monthly you may reduce your total bill.
- Driver’s Ed – Make teen driver coverage more affordable by requiring them to successfully take a driver’s education course as it will make them better drivers and lower rates.
- ABS Brakes – Cars with ABS braking systems or traction control are much safer to drive and will save you 10% or more on S5 insurance in Lexington.
- Accident Waiver – This one isn’t a discount, but companies like GEICO, Progressive, and Allstate allow you one accident before your rates go up so long as you are claim-free before the accident.
- Distant College Student Discount – Kids who live away from home at college and do not have a car may be able to be covered for less.
- Homeowners Savings – Simply owning a home can get you a discount because owning a home is proof that your finances are in order.
Don’t be shocked that most discounts do not apply to the overall cost of the policy. Some only apply to the price of certain insurance coverages like liability, collision or medical payments. So when it seems like you could get a free auto insurance policy, you won’t be that lucky.
The chart below illustrates the comparison of Audi S5 insurance costs with and without discounts applied to the policy premium. The data assumes a female driver, no claims or violations, Kentucky state minimum liability limits, full physical damage coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, claim-free, multi-car, marriage, homeowner, and multi-policy discounts applied.
A list of auto insurance companies and a summarized list of policyholder discounts are detailed below.
- Farmers Insurance policyholders can earn discounts including bundle discounts, business and professional, good student, pay in full, and youthful driver.
- State Farm may have discounts that include Steer Clear safe driver discount, multiple policy, good student, good driver, Drive Safe & Save, multiple autos, and defensive driving training.
- Liberty Mutual offers discounts including new graduate, teen driver discount, preferred payment discount, new vehicle discount, hybrid vehicle, safety features, and newly retired.
- MetLife has savings for multi-policy, claim-free, defensive driver, accident-free, good student, and good driver.
- Progressive has discounts for multi-vehicle, online quote discount, homeowner, online signing, multi-policy, continuous coverage, and good student.
When quoting, ask every company the best way to save money. Some discounts might not be offered on policies in Lexington. For a list of providers that can offer you the previously mentioned discounts in Lexington, click here.
Local Lexington insurance agents and insurance
Certain consumers just prefer to buy from a licensed agent and that is recommended in a lot of cases Professional agents are trained to spot inefficiencies and help file insurance claims. The biggest benefit of getting free rate quotes online is that drivers can save money and get the best rates and still choose a local agent.
To make it easy to find an agent, after completing this short form, the quote information gets sent to insurance agents in Lexington who will give you bids for your coverage. There is no reason to leave your house due to the fact that quote results will go immediately to your email address. If you want to quote rates from a specific insurance provider, don’t hesitate to go to their quote page and fill out their quote form.
Deciding on an insurance company should depend on more than just the premium amount. Agents should be asked these questions:
- If you have an accident, are you able to get your vehicle repaired at the shop of your choice?
- What is the financial rating for the quoted company?
- Can they provide you with a list of referrals?
- Is vehicle damage repaired with OEM or aftermarket parts?
- Which insurance companies are they affiliated with?
- How long has the business existed?
- Do you work with a CSR or direct with the agent?
Pick the best auto insurance agent in Lexington for you
If you need to find a good Lexington insurance agent, you should know the different agency structures and how they function. Insurance agencies in Lexington are considered either exclusive or independent. Both types of agents can write policy coverage, but it’s important to point out the difference in how they write coverage since it can impact which type of agent you select.
Exclusive Insurance Agencies
Exclusive agencies are contracted to one company and some examples include AAA, Allstate, State Farm, or Farmers Insurance. These agents are not able to provide prices from multiple companies so keep that in mind. They are very knowledgeable on their company’s products and that allows them to sell at a higher price point.
The following are exclusive agents in Lexington willing to provide rate quotes.
Independent Insurance Agencies
Agents in the independent channel are normally appointed by many insurers so they can quote policies amongst many companies and find the cheapest insurance rates. If they quote lower rates, they simply move the coverage in-house and you don’t have to find a new agent. When comparing insurance prices, you absolutely need to check rates from several independent insurance agents for maximum quote selection.
Below is a short list of independent agencies in Lexington willing to provide rate quotes.
Nicole Wright Insurance Agency
169 E Reynolds Rd #102 – Lexington, KY 40517 – (859) 971-0221 – View Map
Don’t give up on cheaper coverage
Throughout this article, we presented some good ideas how to find lower-cost Audi S5 insurance in Lexington. The key concept to understand is the more rate quotes you have, the better chance you’ll have of finding affordable Audi S5 insurance quotes. Drivers may even discover the most savings is with some of the smallest insurance companies. These smaller insurers often have lower premium rates on specific markets compared to the large companies like Allstate, GEICO and Progressive.
Some car insurance companies may not offer rate quotes online and most of the time these small insurance companies sell through independent agencies. Budget-friendly car insurance in Lexington is attainable on the web as well as from independent agents in Lexington, and you should be comparing both to have the best selection.
Additional information is located on the following sites:
- Car Insurance for Teen Drivers with Divorced Parents (Allstate)
- Who Has Affordable Auto Insurance for College Graduates in Lexington? (FAQ)
- What Insurance is Cheapest for Teenage Females in Lexington? (FAQ)
- Teen Driver Statistics (Insurance Information Institute)
- Vehicle Safety Ratings (iihs.org)
- Auto Insurance Facts and Statistics (Insurance Information Institute)
- Should I Purchase an Umbrella Liability Policy? (Insurance Information Institute)