It goes without saying that insurance companies want to keep you from shopping around. Consumers who shop for lower rates are likely to move their business because there is a high probability of finding discount prices. A study showed that people who routinely compared rates saved approximately $860 a year compared to other drivers who never shopped around for cheaper prices.
If saving the most money on auto insurance is your goal, then learning about how to quote and compare coverage rates can help simplify the task of finding more affordable coverage.
The most effective way to find more affordable auto insurance rates in Lexington is to compare prices annually from companies who provide auto insurance in Kentucky.
Step 1: Spend a few minutes and learn about auto insurance and the changes you can make to keep rates low. Many policy risk factors that are responsible for high rates such as tickets, at-fault accidents, and an unacceptable credit score can be eliminated by improving your driving habits or financial responsibility.
Step 2: Compare prices from independent agents, exclusive agents, and direct companies. Direct and exclusive agents can provide rates from a single company like Progressive or Allstate, while independent agencies can provide price quotes from many different companies. Click to view companies
Step 3: Compare the new rate quotes to your existing rates to determine if switching companies saves money. If you find better rates and change companies, make sure the effective date of the new policy is the same as the expiration date of the old one.
Step 4: Give notification to your current company of your decision to cancel your current policy and submit the completed application along with a down payment to your new company or agent. Immediately keep your new certificate verifying proof of insurance in an easily accessible location in your vehicle.
A valuable tip to remember is to try to use the same liability limits and deductibles on each price quote and and to get quotes from as many companies as feasibly possible. This helps ensure a fair rate comparison and a complete price analysis.
If you have a current car insurance policy or just want cheaper rates, use these cost-cutting techniques to get lower rates while maintaining coverages. Getting quotes for the most affordable car insurance in Lexington is not as hard as you think. You just need to understand the least time-consuming way to compare rate quotes online from multiple companies.
Most major insurance companies allow you to get coverage price quotes directly from their websites. Getting quotes for Kia Optima insurance in Lexington is pretty easy as you simply type in the coverage amounts you desire into the quote form. After you complete the form, the system requests your driving and credit reports and returns pricing information based on these factors.
Quoting online for Kia Optima insurance in Lexington makes it a lot easier to compare rates and it’s absolutely necessary to compare as many rates as possible if you want to find affordable insurance pricing.
If you want to compare rates now, visit the companies below or click here to submit a quote request to multiple companies at once. If you have coverage now, it’s recommended you type in the limits and deductibles identical to your current policy. This way, you’re receiving a fair comparison based on identical coverages.
The companies in the list below provide comparison quotes in Kentucky. To buy the cheapest car insurance in Lexington, we suggest you get rate quotes from several of them in order to find the most affordable rates.
Kia Optima insurance coverage information
The table shown next highlights detailed analysis of coverage prices for Kia Optima models. Being aware of how car insurance premiums are figured is important to be able to make informed coverage decisions.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Get Your Own Custom Quote Go|
Data rating is based on married male driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Kentucky minimum liability limits. Discounts applied include safe-driver, multi-policy, claim-free, homeowner, and multi-vehicle. Prices do not factor in specific location which can lower or raise premiums substantially.
The information below highlights how deductible choice and can affect Kia Optima insurance costs for different categories of driver ages. The rate quotes are based on a married male driver, full physical damage coverage, and no other discounts are factored in.
Kia Optima liability-only versus full coverage
The illustration below illustrates the comparison of Kia Optima auto insurance rates with full coverage and liability only. The premiums are based on a clean driving record, no at-fault accidents, $1,000 deductibles, marital status is single, and no other discounts are factored in.
When to stop buying comprehensive and collision coverage
There is no set rule for eliminating physical damage insurance, but there is a general guideline. If the yearly cost of full coverage is 10% or more of replacement cost minus your deductible, then you may need to consider dropping full coverage.
For example, let’s pretend your Kia Optima replacement cost is $4,000 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, the most you would get paid by your company is $3,000 after paying your policy deductible. If you are paying over $300 a year for full coverage, then you might want to think about dropping full coverage.
There are some cases where removing full coverage is not a good plan. If you haven’t paid off your loan, you have to carry full coverage as part of the loan conditions. Also, if you can’t afford to buy a different vehicle if your current one is totaled, you should maintain full coverage.
Eight Tips to Get Cheaper Lexington Insurance Rates
Many different elements are used in the calculation when you get a price on insurance. Some are obvious like your driving record, but other factors are more obscure like where you live or how safe your car is.
The itemized list below are some of the most rate-impacting factors car insurance companies consider when setting your rate level.
Prevent car insurance lapses – Allowing your car insurance policy to lapse is a guaranteed way to trigger a rate increase. In addition to paying higher premiums, failure to provide proof of insurance could result in fines and jail time.
Insurance rates for married couples – Having a spouse may earn you lower rates when shopping for car insurance. It translates into being more mature than a single person it has been statistically shown that drivers who are married are more cautious.
Your address can modify prices – Being located in small towns and rural areas can save you money if you are looking for the lowest rates. Drivers who live in large cities have more aggressive driving styles and a longer drive to work. Less people living in that area means less chance of accidents in addition to fewer liability claims.
Better car insurance rates on cars with good safety ratings – Safe vehicles tend to have lower insurance rates. Safe vehicles result in less severe injuries and fewer injuries means lower claim amounts which can result in lower premiums. If your Kia Optima scored better than an “acceptable” rating on the Insurance Institute for Highway Safety website you may qualify for a discount.
Tickets mean higher costs – Even one driving citation can increase the cost of insurance by as much as thirty percent. Careful drivers pay less for auto insurance than people who have multiple driving citations. Drivers who have license-revoking tickets like hit and run, DWI or reckless driving convictions may find that they have to to maintain a SR-22 to the state department of motor vehicles in order to keep their license.
The illustration below illustrates how violations and at-fault claims increase Kia Optima auto insurance costs for different age groups of insureds. The prices are based on a single male driver, comp and collision included, $500 deductibles, and no discounts are factored in.
Extra coverages that aren’t used – There are quite a few optional add-on coverages that can add up but may not be useful. Insurance for things like vanishing deductibles, towing, and additional equipment coverage may be costing you every month. These coverages may sound good when talking to your agent, but now you might not need them so remove them and pocket the money.
Small claims can cost you – Auto insurance companies in Kentucky award cheaper rates to drivers who do not rely on their insurance for small claims. If you tend to file frequent claims, you can definitely plan on either a policy non-renewal or much higher rates. Your insurance policy is designed for major claims that would cause financial hardship.
Men drivers tend to cost more – Statistics have proven that men are more aggressive behind the wheel. That doesn’t necessarily mean that women are better drivers. Men and women cause fender benders in similar percentages, but the men tend to have more serious accidents. They also get more serious tickets like reckless driving and DUI.
The information below illustrates the difference between Kia Optima annual premium costs for male and female drivers. The information is based on no claims or driving violations, full coverage, $250 deductibles, drivers are not married, and no other discounts are factored in.
Claims statistics for a Kia Optima – Companies use claims history as a way to help calculate a profitable premium price. Models that the data determines to have higher frequency or amount of claims will cost more for coverage.
The data below shows the loss history for Kia Optima vehicles. For each coverage category, the claim amount for all vehicles averaged together is set at 100. Numbers shown that are under 100 suggest a better than average loss history, while percentage numbers above 100 indicate more frequent claims or an increased chance of larger losses than average.
|Specific Kia Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Kia Optima Hybrid||143||115||116||139||158||151|
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Three reasons auto insurance is important
Even though Lexington Optima insurance rates can get expensive, auto insurance may be required for several reasons.
- Just about all states have compulsory liability insurance requirements which means you are required to buy specific limits of liability coverage in order to drive the car. 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 loan on your vehicle, more than likely the lender will require you to buy full coverage to ensure loan repayment if the vehicle is totaled. If you do not pay your insurance premiums, the lender may have to buy a policy to insure your Kia at a much higher rate and force you to pay a much higher amount than you were paying before.
- Insurance protects both your vehicle and your assets. It will also provide coverage for all forms of medical expenses for you, your passengers, and anyone else injured in an accident. Liability insurance also pays for attorney fees and expenses in the event you are sued. If your vehicle suffers damage from an accident or hail, your auto insurance policy will pay to have it repaired.
The benefits of having auto insurance greatly outweigh the cost, especially when you need to use it. According to a recent study, the average American driver overpays as much as $825 a year so you should quote and compare rates each time the policy renews to ensure rates are competitive.
What is the best auto insurance company in Lexington?
Buying coverage from the top auto insurance company is difficult considering how many choices you have in Lexington. The ranking data displayed below may help you choose which car insurance providers to look at comparing rates with.
Top 10 Lexington Car Insurance Companies Ranked by Customer Satisfaction
- USAA – 91%
- AAA Insurance – 90%
- Esurance – 90%
- Nationwide – 89%
- Travelers – 88%
- Progressive – 88%
- Safeco Insurance – 88%
- State Farm – 88%
- Allstate – 88%
- The Hartford – 87%
Top 10 Lexington Car Insurance Companies Ranked by Claims Service
- State Farm
- Liberty Mutual
- American Family
- AAA Insurance
- The Hartford