If you want to find the absolute lowest rates, then the best way to find low-cost auto insurance rates is to compare prices regularly from providers in Lexington.
Step 1: Gain an understanding of how insurance companies determine prices and the things you can control to keep rates in check. Many rating criteria that increase rates like traffic citations, accidents, and a low credit score can be controlled by paying attention to minor details. Read the full article for instructions to get better rates and find discounts that may have been missed.
Step 2: Compare price quotes from direct, independent, and exclusive agents. Direct and exclusive agents can only quote rates from a single company like GEICO or Allstate, while independent agencies can quote rates for a wide range of insurance providers. Begin your rate comparison
Step 3: Compare the new quotes to your existing coverage to see if a cheaper price is available. If you find a better price and switch companies, make sure coverage is continuous and does not lapse.
Step 4: Tell your current company to cancel your current car insurance policy and submit payment and a completed application to the new company. Once the application is submitted, place your new proof of insurance certificate with your registration paperwork.
An important bit of advice to remember is to make sure you enter identical deductibles and limits on each price quote and and to compare as many different companies as possible. This guarantees an accurate price comparison and a good representation of prices.
It’s safe to assume that car insurance companies don’t want customers comparing rates. People who compare rates once a year are very likely to move their business because of the high probability of finding a lower-priced policy. A recent auto insurance study revealed that people who compared rates annually saved $865 a year as compared to drivers who don’t make a habit of comparing rates.
If finding the cheapest price on Honda Insight insurance in Lexington is your ultimate objective, then understanding how to quote and compare insurance rates can make shopping around easier.
If you have a policy now, you will surely be able to get lower rates using these methods. Buying the cheapest insurance in Lexington is much easier if you know where to start. Nevertheless, Kentucky vehicle owners need to have an understanding of how big insurance companies charge you for coverage.
The are a couple different ways to compare prices from insurance companies in your area. The quickest method to comparison shop consists of obtaining rate quotes online.
It’s so fast and easy to compare price quotes online that it makes it obsolete to drive around to local Lexington insurance agencies. Comparing Honda Insight insurance rates online reduces the need to sit down with an agent unless you’re the type of person who wants the advice and guidance of an agent trained in personal lines coverage. Although, it is possible price shop your coverage online but buy from a local insurance agent. Just keep in mind that comparing more prices will increase your chances of finding the best rates.
The following companies provide price comparisons in Kentucky. If you wish to find cheap auto insurance in Lexington, we suggest you visit two to three different companies in order to find the most affordable rates.
The rate table displayed below highlights different rate quotes for Honda Insight models. Having a good grasp of how insurance policy premiums are formulated can help customers make smart choices when buying a policy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Get Your Own Custom Quote Go|
Prices based on married female driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Kentucky minimum liability limits. Discounts applied include claim-free, multi-policy, multi-vehicle, safe-driver, and homeowner. Prices do not factor in garaging location in Lexington which can revise premiums substantially.
Honda Insight insurance premiums by gender in Lexington
The information below illustrates the comparison of Honda Insight yearly insurance costs for male and female drivers. Data assumes no violations or accidents, full physical damage coverage, $100 deductibles, single marital status, and no discounts are applied to the premium.
Buying the right Honda vehicle insurance in Kentucky is an important decision
Despite the fact that car insurance is not cheap in Lexington, insuring your vehicle serves a purpose in several ways.
- The majority of states have mandatory insurance requirements which means state laws require specific limits of liability insurance in order to license the vehicle. 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 Honda Insight has a loan, most lenders will require you to have full coverage to guarantee their interest in the vehicle. If you cancel or allow the policy to lapse, the bank may buy a policy for your Honda at a much higher premium rate and force you to pay much more than you were paying before.
- Insurance safeguards both your Honda Insight and your personal assets. Insurance will also pay for medical transport and hospital expenses that are the result of an accident. One policy coverage, liability insurance, will also pay to defend you if you cause an accident and are sued. If your vehicle suffers damage from an accident or hail, comprehensive and collision coverage will cover the repair costs.
The benefits of carrying enough insurance are definitely more than the cost, particularly for liability claims. Today the average American driver is overpaying over $810 a year so it’s important to compare rates at every policy renewal to save money.
Save money by applying these ten discounts
Some insurance providers do not list all their discounts in a way that’s easy to find, so the list below contains some of the more common in addition to some of the lesser obvious credits available to lower your premiums when you buy Lexington auto insurance online. If you’re not getting every credit you qualify for, you could be getting lower rates.
- Defensive Driving Course – Participating in a safe driver course may get you a small discount if your company offers it.
- Early Signing – Some larger companies give discounts for switching companies before your current Insight insurance policy expires. Ten percent is about the average savings.
- Use Seat Belts – Forcing all vehicle occupants to use their safety belts can save 10% or more on the medical payments or PIP coverage costs.
- Own a Home – Owning a house in Lexington may earn you a small savings because of the fact that having a home requires personal responsibility.
- Distant Student Discount – Children who are enrolled in higher education away from home and won’t have access to an insured vehicle can receive lower rates.
- No Claim Discounts – Claim-free drivers pay much less when compared with drivers who are more careless.
- Multiple Cars – Buying a policy with multiple vehicles with the same company may reduce the rate for each vehicle.
- Student Driver Training – Make teen driver coverage more affordable by requiring them to participate in a local driver’s education class in school.
- Anti-theft System – Cars, trucks, and SUVs with anti-theft systems are less likely to be stolen and will save you 10% or more on Insight insurance in Lexington.
- Membership in Organizations – Being in certain professional organizations could qualify you for a break on your next renewal.
As a disclaimer on discounts, most discounts do not apply to all coverage premiums. Some only reduce the cost of specific coverages such as comp or med pay. If you do the math and it seems like all the discounts add up to a free policy, insurance companies wouldn’t stay in business.
The chart below shows the comparison of Honda Insight car insurance costs with and without policy discounts. The data assumes a male driver, a clean driving record, no claims, Kentucky state minimum liability limits, comp and collision included, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, homeowner, safe-driver, multi-car, claim-free, and marriage discounts applied.
A few of the larger companies and their offered discounts are detailed below.
- State Farm includes discounts for accident-free, multiple policy, Drive Safe & Save, multiple autos, student away at school, and good student.
- Nationwide may include discounts for accident-free, multi-policy, family plan, defensive driving, anti-theft, and Farm Bureau membership.
- GEICO may have discounts that include multi-vehicle, seat belt use, federal employee, driver training, anti-lock brakes, military active duty, and emergency military deployment.
- AAA has savings for multi-car, anti-theft, good student, education and occupation, AAA membership discount, pay-in-full, and multi-policy.
- 21st Century offers discounts for theft prevention, automatic seat belts, defensive driver, good student, and early bird.
- The Hartford has discounts for air bag, driver training, good student, vehicle fuel type, defensive driver, anti-theft, and bundle.
Before purchasing a policy, check with every insurance company which discounts you may be entitled to. Some of the discounts discussed earlier might not apply in every state. To view auto insurance companies that offer some of these discounts in Kentucky, follow this link.
When to contact an agent
Many drivers still like to sit down and talk to an agent and that is not a bad decision One of the benefits of getting online price quotes is that you can obtain better rates and still have a local agent. Buying from and supporting neighborhood insurance agencies is important especially in Lexington.
To help locate an agent, after submitting this quick form, your insurance coverage information is sent to local insurance agents in Lexington who will gladly provide quotes for your car insurance coverage. There is no reason to find an agent on your own because prices are sent directly to your email. You can find better rates without requiring a lot of work. If you need to get a comparison quote for a specific company, just jump over to their website to submit a rate quote request.
Exclusive or Independent: There is a difference
If you are searching for a reliable insurance agency, it’s helpful to know the types of agencies that you can choose from. Agencies in Lexington can be categorized as either independent or exclusive depending on the company they work for.
Independent Car Insurance Agents
Agents that elect to be independent are not locked into one company so they have the ability to put coverage with a variety of different insurance companies depending on which coverage is best. If they find a lower price, the business is moved internally without you having to go to a different agency. If you are comparing rate quotes, it’s recommended you contact multiple independent agents to have the best price comparison.
Featured below is a short list of independent agencies in Lexington that may be able to provide free car insurance rate quotes.
These type of agents can usually just insure with one company and examples are Allstate and State Farm. They usually cannot provide prices from multiple companies so it’s a take it or leave it situation. These agents receive a lot of sales training in insurance sales which helps overcome the inability to quote other rates.
Listed below are Lexington exclusive agencies who can help you get rate quotes.
Choosing the best insurance agency should include more criteria than just the premium amount. Get answers to these questions too.
- What is their Better Business Bureau rating?
- Do they offer claims assistance after hours?
- Will you work with the agent or an assistant?
- Does the agent help file claims?
- How often do they review policy coverages?
- Can glass claims be handled at your home?
- Is there any savings for paying the full premium?
What insurance coverages do you need?
Having a good grasp of your policy can be of help when determining which coverages you need and proper limits and deductibles. The coverage terms in a policy can be impossible to understand and coverage can change by endorsement. Listed below are the usual coverages offered by insurance companies.
Comprehensive protection – This pays for damage OTHER than collision with another vehicle or object. You first must pay your deductible then your comprehensive coverage will pay.
Comprehensive can pay for claims such as hitting a deer, hitting a bird, fire damage and damage from getting keyed. The most your insurance company will pay is the actual cash value, so if the vehicle’s value is low it’s not worth carrying full coverage.
Medical expense coverage – Personal Injury Protection (PIP) and medical payments coverage provide coverage for bills like hospital visits, surgery, funeral costs, chiropractic care and EMT expenses. They are often used to cover expenses not covered by your health insurance program or if you are not covered by health insurance. It covers not only the driver but also the vehicle occupants and also covers if you are hit as a while walking down the street. Personal injury protection coverage is not an option in every state and may carry a deductible
Collision coverage – Collision insurance covers damage to your Insight from colliding with an object or car. A deductible applies and the rest of the damage will be paid by collision coverage.
Collision coverage pays for claims like crashing into a ditch, rolling your car, scraping a guard rail and colliding with another moving vehicle. Paying for collision coverage can be pricey, so you might think about dropping it from older vehicles. You can also increase the deductible on your Insight to get cheaper collision coverage.
Uninsured or underinsured coverage – This coverage protects you and your vehicle when the “other guys” do not carry enough liability coverage. It can pay for hospital bills for your injuries and also any damage incurred to your Honda Insight.
Since many Kentucky drivers have only the minimum liability required by law (25/50/10 in Kentucky), their limits can quickly be used up. So UM/UIM coverage is a good idea. Usually these limits are set the same as your liability limits.
Liability auto insurance – This protects you from damages or injuries you inflict on a person or their property. This coverage protects you from legal claims by others, and does not provide coverage for your own vehicle damage or injuries.
It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. You might see liability limits of 25/50/10 which stand for $25,000 bodily injury coverage, a limit of $50,000 in injury protection per accident, and property damage coverage for $10,000. Some companies may use a combined limit which combines the three limits into one amount rather than limiting it on a per person basis.
Liability coverage pays for things like legal defense fees, court costs, loss of income and repair costs for stationary objects. The amount of liability coverage you purchase is your choice, but you should buy higher limits if possible. Kentucky state law requires minimum liability limits of 25/50/10 but you should think about purchasing more coverage.
The illustration below demonstrates why buying minimum limits may not be high enough to adequately cover claims.
Lexington auto insurance companies ranked
Finding a good quality auto insurance company can be a challenge considering how many different insurance companies sell coverage in Kentucky. The ranking data displayed below may help you analyze which coverage providers to look at when comparing rates.
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 by A.M. Best Rank
- Travelers – A++
- USAA – A++
- GEICO – A++
- State Farm – A++
- Erie Insurance – A+
- Esurance – A+
- Progressive – A+
- Nationwide – A+
- The Hartford – A+
- Allstate – A+
More comparisons equals cheaper rates
Cheaper Honda Insight insurance in Lexington is available online in addition to many Lexington insurance agents, and you should compare price quotes from both to have the best rate selection. There are still a few companies who may not have price quotes online and these small, regional companies work with independent agents.
When buying insurance coverage, never sacrifice coverage to reduce premiums. In many cases, an insured cut comprehensive coverage or liability limits only to discover later that they should have had better coverage. The proper strategy is to purchase a proper amount of coverage at the lowest possible cost.
Additional detailed information can be found by following these links:
- What if I Can’t Find Coverage? (Insurance Information Institute)
- Who Has the Cheapest Auto Insurance for Safe Drivers in Lexington? (FAQ)
- Who Has Affordable Lexington Auto Insurance Rates for Real Estate Agents? (FAQ)
- New head restraint design cuts injuries (Insurance Institute for Highway Safety)
- Insuring a Leased Car (Insurance Information Institute)
- Understanding your Policy (NAIC.org)
- Understanding Rental Car Insurance (Insurance Information Institute)