The words “economical” and “insurance” probably shouldn’t be used together, especially when you are trying to find the best car insurance rates with multiple speeding tickets. Because it’s not cheap, let’s take a look at a few of the factors that have a considerable impact on auto insurance premiums, and find out if you can reduce the price of the next policy you buy.
The vehicle model needing coverage is probably the most important factor that determines if you can find the best auto insurance with multiple speeding tickets. Vehicles with limited top-end speed, a great safety record, or a low likelihood of liability claims will cost substantially less to insure than fast, unsafe models. The next list outlines insurance costs for the most cost-effective vehicles to insure.
| Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V EX-L 4WD | $1,253 |
| Ford Escape Limited 4WD | $1,335 |
| Ford Focus S 4-Dr Sedan | $1,427 |
| Chevrolet Malibu Hybrid | $1,454 |
| Toyota Prius | $1,456 |
| Toyota Tacoma 4WD | $1,464 |
| Jeep Wrangler Unlimited Sport Islander Package 4WD 4-Dr | $1,485 |
| Dodge Grand Caravan CV | $1,504 |
| Ford Edge SEL AWD | $1,550 |
| Nissan Altima 2.5 4-Dr Sedan | $1,552 |
| Chevrolet Silverado LT Extended Cab 2WD | $1,554 |
| Volkswagen Jetta SE 2.5 Station Wagon | $1,567 |
| Toyota RAV4 Sport 2WD | $1,584 |
| Chevrolet Equinox LS 2WD | $1,593 |
| Hyundai Elantra Blue 4-Dr Sedan | $1,609 |
| Honda Civic EX-L 4-Dr Sedan | $1,615 |
| Ford Explorer Eddie Bauer 4WD | $1,617 |
| Honda Accord EX-L 2-Dr Coupe | $1,661 |
| Chevrolet Impala LTZ | $1,663 |
| Toyota Corolla XRS | $1,669 |
| Jeep Grand Cherokee Limited 4WD | $1,679 |
| Honda Odyssey Touring | $1,669 |
| GMC Sierra Denali Crew Cab 4WD | $1,672 |
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Prices above based on single male driver age 50, two speeding tickets, no at-fault accidents, $1,000 deductibles, and Kentucky minimum liability limits. Discounts applied include multi-vehicle, multi-policy, homeowner, and claim-free. Premium costs do not factor in the specific area where the vehicle is garaged which can increase or decrease price quotes noticeably.
Based upon these rates, we can presume that cars like the Honda CR-V, Ford Escape, Ford Focus, and Chevrolet Malibu are most likely to be some of the most budget-friendly vehicles to insure after a few driving violations.
After a few driving violations, one of the more important criteria that are used to help calculate the cost of insurance is where your residence is. More populated areas likely pay more, whereas areas with less people or fewer weather incidents profit from lower rates.
The table below rates the most costly cities in Kentucky with multiple speeding tickets to purchase a policy in. Lexington is ranked #15 costing $1,499 for the average insurance policy, which is about $125 each month.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Louisville | $2,090 |
| 2 | Frankfort | $1,778 |
| 3 | Ashland | $1,724 |
| 4 | Jeffersontown | $1,668 |
| 5 | Saint Matthews | $1,660 |
| 6 | Paducah | $1,647 |
| 7 | Radcliff | $1,638 |
| 8 | Madisonville | $1,616 |
| 9 | Elizabethtown | $1,611 |
| 10 | Danville | $1,581 |
| 11 | Murray | $1,565 |
| 12 | Henderson | $1,557 |
| 13 | Hopkinsville | $1,523 |
| 14 | Winchester | $1,517 |
| 15 | Lexington | $1,499 |
| 16 | Georgetown | $1,491 |
| 17 | Richmond | $1,490 |
| 18 | Covington | $1,487 |
| 19 | Bowling Green | $1,476 |
| 20 | Nicholasville | $1,474 |
| 21 | Erlanger | $1,463 |
| 22 | Florence | $1,427 |
| 23 | Independence | $1,422 |
| 24 | Fort Thomas | $1,397 |
| 25 | Owensboro | $1,390 |
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Rate information is estimated as the specific zip code location can lower or raise insurance rates significantly.
Types of discounts on Lexington auto insurance
Insurance companies that sell policies with multiple speeding tickets may also offer rate discounts that may potentially lower prices by as much as 25% or more if you are eligible to receive them. Popular auto insurance companies and some of the premium reductions they offer are included below.
- GEICO may offer discounts for driver training, multi-vehicle, membership and employees, seat belt use, five-year accident-free, and federal employee.
- SAFECO offers discounts including homeowner, bundle discounts, multi-car, safe driver, and accident prevention training.
- State Farm has discounts for safe vehicle, good driver, defensive driving training, good student, and driver’s education.
- MetLife has savings for accident-free, defensive driver, claim-free, good student, good driver, and multi-policy.
- 21st Century offers discounts for driver training, student driver, good student, air bags, and theft prevention.
- Progressive may include discounts for good student, online signing, multi-policy, continuous coverage, multi-vehicle, and online quote discount.
The illustration below illustrates the difference between car insurance rates with and without discounts applied. The premiums assume a female driver, no accidents and three citations, Kentucky state minimum liability limits, comprehensive and collision coverage, and $500 deductibles.
The first bar for each age group shows premium with no discounts. The lower bar shows the rates with passive restraint, multiple policy, multiple vehicle, paperless filing, marriage, and paid-in-full discounts applied. When these discounts are applied to the policy premium, theamount saved on auto insurance with multiple speeding tickets is 28% or $620.
Price comparison of only insuring for liability
Reducing premiums for auto insurance is important to most people, and one easy way to reduce the cost of insurance with multiple speeding tickets is to not pay for full coverage. The chart below illustrates the comparison of auto insurance costs with full physical damage coverage compared to only buying liability only. The price estimates are based on no accidents or driving violations, $500 deductibles, drivers are single, and no other discounts are factored in.
Averaged for all ages 20 through 70, full coverage on your policy costs an extra $1,541 per year more than just buying liability only. That raises the question when is the right time to remove full coverage. There is no set guideline to drop physical damage insurance, but there is a broad guideline. If the annual cost of having full coverage is 10% or more of any settlement you would receive from your insurance company, then you might consider buying liability only.
There are some situations where only buying liability is not in your best interest. If you still owe a portion of the original loan, you have to keep full coverage to satisfy the loan requirements. Also, if your finances do not allow you to purchase a different vehicle if your current one is damaged, you should keep full coverage on your policy.
How to find economical insurance with multiple speeding tickets
Here are some of the better thrifty solutions that can help you get lower-cost car insurance.
- Do not get into accidents that are your fault
- Lower rates by purchasing a safer vehicle
- Save money by only buying liability coverage for older vehicles
- Speeding tickets and other violations increase rates
- Raise deductibles
- Better credit rating means better rates
- Comparison shop at least every other year
The last tip in the list is notably important, as we stressed in the prior article. Car insurance rates adjust frequently, so don’t be hesitant to switch carriers if you find a cheaper price. Brand loyalty is not necessarily bad, but it’s not recommended if that inflexibility results in costing you thousands of dollars over the life of your policy. In just a few minutes you could shop around and find cheaper car insurance with multiple speeding tickets in Lexington.
The professional agents shown below are a good start to help you decide which coverages and limits you need, as many people would rather have a professional recommendation when comparing insurance rates with multiple speeding tickets. It can be time-consuming to find the cheapest car insurance policy, and a licensed agent can provide you satisfaction knowing your coverage gives you adequate asset protection.
To find an auto insurance agency using an interactive map, click the button at the bottom or click here to compare price quotes now.
- State Farm: Bethany Hicks
1050 Chinoe Rd #100 – Lexington, KY 40502 – (859) 264-0246 - Kelly Wooten Insurance Agency
2331 Fortune Dr #175 – Lexington, KY 40509 – (859) 278-3487 - Reynolds Insurance Agency Inc
1500 Leestown Rd #160 – Lexington, KY 40511 – (859) 412-4636