Auto Insurance Rate Quotes for a Jeep Patriot in Lexington

Discount Jeep Patriot insuranceNobody that owns a car gets a kick out of paying for auto insurance, especially knowing they are paying too much.

Sad but true, the vast majority of auto insurance customers have purchased from the same company for over three years, and roughly 40% of drivers have never compared auto insurance rates at all. Lexington consumers could save almost 30% each year by just comparing quotes, but most tend to underestimate how much they could save if they moved their coverage to a different company.

Steps to buying cheaper Jeep Patriot insurance in Lexington

The best way to get cheaper car insurance rates is to start doing a yearly price comparison from providers in Lexington.

First, learn about how car insurance works and the things you can change to keep rates down. Many factors that drive up the price like speeding and poor credit history can be improved by making minor changes to your lifestyle.

Second, request price quotes from independent agents, exclusive agents, and direct companies. Direct and exclusive agents can only give prices from a single company like GEICO and State Farm, while independent agencies can quote rates from many different companies.

Third, compare the new quotes to the premium of your current policy to see if switching to a new carrier will save money. If you find a lower rate and buy the policy, make sure the effective date of the new policy is the same as the expiration date of the old one.

An important note is to make sure you enter identical coverage information on every price quote and and to get rates from as many car insurance companies as possible. Doing this guarantees an apples-to-apples comparison and a better comparison of the market.

Since consumers have many options for buying cheaper insurance for a Jeep Patriot in Lexington, it is very difficult to locate the cheapest insurance company.

It’s smart to do price comparisons at least once a year since insurance rates are variable and change quite frequently. Just because you had the best rate on Jeep Patriot insurance in Lexington two years ago other companies may now be cheaper. Ignore everything you know about auto insurance because we’re going to demonstrate the best way to find great coverage at a great price.

Buying the cheapest auto insurance in Lexington can initially seem challenging. If you have a policy now or are shopping for new coverage, use these techniques to find better prices while maintaining coverages. Consumers only have to learn the proper way to compare insurance rates online from multiple companies.

The fastest way that we advise to get rate comparisons for Jeep Patriot insurance in Lexington takes advantage of the fact most insurance companies provide online access to provide you with a free rate quote. All you need to do is provide a little information including how much school you completed, how much you drive, deductibles desired, and how old drivers are. The data is automatically sent to many different companies and they provide comparison quotes almost instantly.

To check rates for your Jeep Patriot now, click here then complete the form.

The companies in the list below provide free quotes in Kentucky. To buy cheap car insurance in Kentucky, we suggest you visit two to three different companies to get a more complete price comparison.

Auto insurance statistics for a Jeep Patriot

The coverage table displayed next showcases a range of policy rates for Jeep Patriot models. Being aware of how policy rates are established can be valuable when making informed coverage decisions.

Jeep Patriot Insurance Rates in Lexington, KY
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Patriot Sport 2WD $178 $282 $326 $20 $98 $904 $75
Patriot Sport 4WD $178 $282 $326 $20 $98 $904 $75
Patriot Limited 2WD $206 $342 $326 $20 $98 $992 $83
Patriot Limited 4WD $206 $342 $326 $20 $98 $992 $83
Get Your Own Custom Quote Go

Table data represents married male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Kentucky minimum liability limits. Discounts applied include multi-policy, homeowner, safe-driver, claim-free, and multi-vehicle. Rate information does not factor in specific location information which can decrease or increase premiums substantially.

Should you raise deductibles?

One of the most common auto insurance questions is what deductibles to buy. The comparisons below can help you understand the cost difference when you select higher and lower physical damage coverage deductibles. The first rate table uses a $100 physical damage coverage deductible and the second price chart uses a $500 deductible.

Jeep Patriot insurance rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Patriot Sport 2WD $244 $418 $326 $20 $98 $1,131 $94
Patriot Sport 4WD $244 $418 $326 $20 $98 $1,131 $94
Patriot Limited 2WD $280 $508 $326 $20 $98 $1,257 $105
Patriot Limited 4WD $280 $508 $326 $20 $98 $1,257 $105
Get Your Own Custom Quote Go

Jeep Patriot insurance rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Patriot Sport 2WD $178 $282 $326 $20 $98 $904 $75
Patriot Sport 4WD $178 $282 $326 $20 $98 $904 $75
Patriot Limited 2WD $206 $342 $326 $20 $98 $992 $83
Patriot Limited 4WD $206 $342 $326 $20 $98 $992 $83
Get Your Own Custom Quote Go

Prices above based on married male driver age 30, no speeding tickets, no at-fault accidents, and Kentucky minimum liability limits. Discounts applied include homeowner, safe-driver, multi-policy, multi-vehicle, and claim-free. Prices do not factor in specific location information which can modify premium rates considerably.

Based on this data, using a $100 deductible will cost in the ballpark of $21 more each month or $252 for a full year than quoting the higher $500 deductible. Since you would pay $400 more if you turn in a claim with a $500 deductible as compared to a $100 deductible, if you normally average at least 19 months between claim filings, you would probably be better off by going with a higher deductible.

How to determine if a higher deductible is a good idea

Average monthly premium for $100 deductibles: $100
Average monthly premium for $500 deductibles (subtract): – $79
Monthly savings from raising deductible: $21
Difference between deductibles ($500 – $100): $400
Divide difference by monthly savings: $400 / $21
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 19 months

One important caveat is that a higher deductible results in a higher out-of-pocket expense if you have a claim. You will want to have enough extra money in order to pay more for the deductible.

The diagram below highlights how deductible selection and can raise or lower Jeep Patriot insurance rates for different age groups of insureds. Data assumes a single male driver, full physical damage coverage, and no policy discounts are applied.

Illustration showing the impact of accidents and violations

The information below highlights how traffic violations and fender-benders drive up Jeep Patriot premium costs for different insured age categories. The rate quotes are based on a single female driver, full coverage, $250 deductibles, and no discounts are applied.

Premiums by gender and age

The illustration below visualizes the comparison of Jeep Patriot premium costs for male and female drivers. The rate quotes are based on no violations or claims, comprehensive and collision coverage, $250 deductibles, marital status is single, and no additional discounts are factored in.

Liability only or full coverage

The example below visualizes the comparison of Jeep Patriot insurance premiums with full physical damage coverage compared to only buying liability only. The premium estimates are based on no claims or driving violations, $1,000 deductibles, single marital status, and no discounts are taken into consideration.

When to buy liability coverage only

There is no exact formula of when to stop paying for comprehensive and collision coverage on your policy, but there is a broad guideline. If the yearly cost of full coverage is more than around 10% of the settlement you would receive from your company, then it may be the right time to buy liability only.

For example, let’s say your Jeep Patriot settlement value is $7,000 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, you would only receive $6,000 after the deductible is paid. If premium cost is more than $600 annually for your policy with full coverage, the it may be a good time to stop paying for full coverage.

There are a few cases where removing full coverage is not a good idea. If you still owe money on your vehicle, you have to maintain full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if your savings is not enough to buy a different vehicle if your current one is damaged, you should maintain full coverage.

Get Jeep Patriot Insurance More Affordably

Smart consumers have a good feel for some of the factors that help calculate your car insurance rates. If you understand what controls the rates you pay, this helps enable you to make changes that may result in big savings.

Rural vs Urban Areas – Residing in small towns and rural areas is a positive aspect when shopping for auto insurance. Less people means reduced accidents as well as less vandalism and auto theft. City drivers have traffic congestion and longer commutes to work. More time on the road means more chance of being in an accident.

Car features can affect rates – Buying a car with an alarm system can get you a discount on your car insurance. Theft prevention features like OnStar, LoJack tracking, and tamper alarms can help prevent car theft and help bring rates down.

Extra coverages can add up – Insurance companies have many extra coverages that sound like a good idea at the time on your Patriot policy. Coverages like replacement cost coverage, towing coverage, and Farm Bureau memberships may be wasting your money. They may seem like a good idea when talking to your agent, but if you have no use for them remove them and pocket the money.

Car insurance rates and age – Older drivers are more responsible, statistically cause fewer accidents, and receive fewer citations. Drivers with little experience are proven to be more careless behind the wheel therefore car insurance rates are much higher.

The data below assumes a single driver, full coverage with $1000 deductibles, and no discounts or violations.

Single vs. married – Being married may cut your premiums on your policy. Having a significant other is viewed as being more stable financially and statistics prove married drivers tend to have fewer serious accidents.

Jeep Patriot insurance loss statistics – Companies analyze past claim statistics to help calculate a profitable premium price. Vehicles that are shown to have higher claim frequency or loss amount will have higher premium rates.

The table shown below demonstrates the historical loss data for Jeep Patriot vehicles. For each insurance policy coverage type, the claim probability for all vehicles, as a total average, is considered to be 100. Percentage values below 100 indicate better than average losses, while values over 100 indicate more frequent losses or an increased likelihood of larger losses.

Jeep Patriot Insurance Loss Statistics
Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Jeep Patriot 4dr 2WD 80 139 65 123 121 140
Jeep Patriot 4dr 4WD 73 121 67 98 100 111

Statistics from for 2013-2015 Model Years

Auto insurance is not optional

Even though it’s not necessarily cheap to insure a Jeep in Lexington, maintaining insurance serves a purpose in several ways.

First, almost all states have minimum mandated liability insurance limits 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.

Second, if your car has a lienholder, almost every bank will require that you have comprehensive coverage to ensure they get paid if you total the vehicle. If you cancel or allow the policy to lapse, the lender may have to buy a policy to insure your Jeep at a much higher rate and force you to reimburse them much more than you were paying before.

Third, insurance safeguards both your Jeep Patriot and your personal assets. It will also provide coverage for hospital and medical expenses for not only you but also any passengers injured in an accident. Liability coverage also pays for attorney fees and expenses if you are sued as the result of your driving. If you have damage to your Jeep as the result of the weather or an accident, your policy will pay to restore your vehicle to like-new condition.

The benefits of carrying enough insurance more than cancel out the cost, particularly if you ever have a claim. But the average American driver is currently overpaying as much as $800 each year so compare quotes from several companies every year to ensure rates are inline.