Regrettably, about 70% of customers kept their policy with the same company for over three years, and about 40% of consumers have never compared rates from other carriers. Drivers in Lexington could save as much as $631 every year by just comparing quotes, but they don’t invest the time required to compare other rate quotes.
The easiest way to find better pricing on auto insurance rates is to start comparing prices yearly from insurance carriers who provide auto insurance in Lexington. Prices can be compared by completing these steps.
Step 1: Try to learn about how companies price auto insurance and the factors you can control to prevent expensive coverage. Many policy risk factors that result in higher prices such as tickets, at-fault accidents, and a substandard credit score can be amended by making minor driving habit or lifestyle changes.
Step 2: Quote rates from direct, independent, and exclusive agents. Direct and exclusive agents can only give prices from a single company like GEICO or State Farm, while independent agencies can provide price quotes for many different companies.
Step 3: Compare the new rate quotes to your existing policy to see if a cheaper price is available in Lexington. If you can save money and switch companies, make sure coverage is continuous and does not lapse.
A key point to remember is that you’ll want to make sure you compare the same coverage limits and deductibles on each price quote and and to get quotes from as many carriers as you can. This ensures an apples-to-apples comparison and a complete rate analysis.
If you’re already insured, you will definitely be able to buy cheaper car insurance using this information. Finding the cheapest coverage in Lexington seems hard but is not really that difficult. Nevertheless, Kentucky consumers must comprehend the way companies charge you for coverage and use it to find better rates.
Best companies for competitive BMW X1 insurance in Kentucky
The providers in the list below offer price quotes in Lexington, KY. If your goal is to find cheaper auto insurance in Lexington, we recommend you visit as many as you can to get the best price comparison.
Smart Choices Result in Lower Insurance Costs
Lots of factors are used when you quote your car insurance policy. Some are pretty understandable like a motor vehicle report, but some are not quite as obvious like where you live or your commute time.
More traffic means higher claims – Living in smaller towns and rural areas of the country is a good thing when trying to find low car insurance rates. Urban drivers have more traffic problems and longer commutes to work. Less people living in that area means less chance of accidents as well as less vandalism and auto theft.
Cheaper to insure women? – Over time, data shows women are more cautious behind the wheel. However, this does not mean men are WORSE drivers than women. Males and females are responsible for accidents at a similar rate, but the males have accidents that have higher claims. Not only are claims higher, but men receive more major tickets such as driving while intoxicated (DWI) or driving recklessly. Teenage male drivers are most likely to cause an accident so it costs more to insure them.
No policy claims equals better auto insurance rates – Insurance companies in Kentucky provide most affordable rates to drivers who file claims infrequently. 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 intended for claims that pose a financial burden.
A auto insurance policy lapse can increase prices – Having a gap between insurance policy dates is a sure-fire way to increase your auto insurance rates. And not only will your rates increase, getting caught without coverage might get you fines or a revoked license. You may then have to provide proof of insurance in the form of an SR-22 filing with the Kentucky department of motor vehicles.
Low mileage costs less – The more you drive annually the more you’ll pay to insure it. The majority of insurers rate vehicles partially by how you use the vehicle. Vehicles that have low annual miles receive better premium rates than those used for commuting. Improper usage on your X1 is throwing money out the window. Verify your vehicle rating shows the proper vehicle usage, because improper ratings can cost you money.
BMW X1 insurance loss statistics – Car insurance companies analyze the history of losses to help determine rates. Vehicles that statistically have a trend towards higher claim severity or frequency will cost more to insure.
The table below shows the insurance loss data used by companies for BMW X1 vehicles. For each insurance policy coverage type, the statistical loss for all vehicles averaged together is considered to be 100. Values that are under 100 indicate better than average losses, while percentages above 100 indicate more frequent claims or an increased likelihood of larger losses.
|Vehicle Make and Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|BMW X1 4dr 2WD||99||86||113||90||95||87|
|BMW X1 4dr 4WD||103||96||120||73||69||82|
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Car insurance quotes and discounts
Companies that sell car insurance do not advertise every discount in a way that’s easy to find, so here is a list some of the best known and also the more inconspicuous discounts that you can inquire about if you buy Lexington car insurance online.
- Air Bags and Passive Restraints – Vehicles with factory air bags may get savings of more than 20%.
- Payment Method – By paying your entire bill at once as opposed to paying monthly you could save up to 5%.
- College Student – Older children who live away from home at college and do not have a car may be insured at a cheaper rate.
- Discounts for New Vehicles – Adding a new car to your policy can cost up to 25% less since new model year vehicles are generally safer.
- Waiver for an Accident – Not a discount per se, but some companies like State Farm and Progressive will turn a blind eye to one accident without the usual rate increase with the catch being you have to be claim-free for a certain period of time.
- Multi-Vehicle Discounts – Drivers who insure more than one vehicle with the same car insurance company can get a discount for every vehicle.
- Include Life Insurance and Save – Not every insurance company offers life insurance, but if they do you may earn a break if you buy some life insurance in addition to your auto policy.
Don’t be surprised that many deductions do not apply to all coverage premiums. Most cut individual premiums such as medical payments or collision. Even though it appears all the discounts add up to a free policy, you aren’t that lucky. Any amount of discount will lower the premium cost.
Companies and a summarized list of policyholder discounts can be found below.
- American Family has discounts for early bird, multi-vehicle, bundled insurance, good driver, Steer into Savings, TimeAway discount, and accident-free.
- Farm Bureau policyholders can earn discounts including safe driver, driver training, 55 and retired, youthful driver, renewal discount, multi-vehicle, and good student.
- State Farm discounts include defensive driving training, good driver, safe vehicle, good student, Drive Safe & Save, and student away at school.
- Travelers may offer discounts for home ownership, multi-car, hybrid/electric vehicle, driver training, and multi-policy.
- The Hartford includes discounts for anti-theft, vehicle fuel type, driver training, good student, defensive driver, and air bag.
- GEICO may include discounts for air bags, five-year accident-free, good student, membership and employees, federal employee, and anti-theft.
- Progressive offers discounts including multi-vehicle, continuous coverage, online quote discount, online signing, and good student.
If you are trying to find the cheapest BMW X1 rate quotes, ask every prospective company how many discounts you can get. Discounts may not apply to policies in Lexington. If you would like to see a list of companies who offer online BMW X1 insurance quotes in Lexington, follow this link.
Compare prices but work with a local Lexington insurance agency
Certain consumers prefer to go talk to an agent and that is just fine! One of the great benefits of comparing car insurance online is that you can obtain cheap car insurance rates and still choose a local agent.
For easy comparison, once you complete this form (opens in new window), your insurance coverage information is emailed to agents in your area that can provide free Lexington car insurance quotes for your insurance coverage. You won’t need to contact any agents since price quotes are sent to you instantly. You can find better rates without requiring a lot of work. If you want to compare prices from one company in particular, you can always jump over to their website and give them your coverage information.
Choosing the best provider requires more thought than just a low price. Any agent in Lexington should be willing to answer these questions.
- Are they paid to recommend certain coverages?
- Will one accident increase rates?
- Will vehicle repairs be made with aftermarket parts or OEM replacement parts?
- Did they already check your driving record and credit reports?
- Are they full-time agents?
- If they are an independent agency in Lexington, which companies do they recommend?
Choose an insurance agent wisely
If you are wanting to find a reputable insurance agent or broker, it’s important to understand the different types of agencies and how they work. Lexington agents are considered either exclusive or independent agents depending on their company appointments.
Agents of this type work for only one company and examples are State Farm, AAA, and Liberty Mutual. These agents are not able to give you multiple price quotes so they have to upsell other benefits. Exclusive agents are very knowledgeable in insurance sales which helps them sell insurance even at higher premiums.
Below are Lexington exclusive insurance agents who can help you get price quote information.
Independent Agents (or Brokers)
Agents in the independent channel do not have single company limitations so they can insure your vehicles with any number of different companies depending on which coverage is best. If your premiums go up, the agent simply finds a different carrier and you don’t have to switch agencies.
When comparing car insurance rates, we highly recommend that you include rate quotes from at a minimum one independent agency in order to compare the most rates.
The following is a short list of independent agents in Lexington that are able to give price quotes.
Upon receiving good responses to these questions as well as a price you’re happy with, it’s a good possibility that you have found an insurance agent that meets your needs to properly service your car insurance policy. But remember, policyholders can cancel coverage at any point so never feel that you are obligated to a specific company with no way to switch.
Lexington auto insurance companies
Ending up with a highly-rated insurance company can be challenging considering how many different companies sell coverage in Kentucky. The information shown next may help you choose which car insurance companies you want to consider shopping prices with.
Top 10 Lexington Car Insurance Companies Ranked by Customer Service
- AAA Insurance
- Safeco Insurance
- State Farm
- The Hartford
- The General
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%
Different people need different insurance coverages
When it comes to insurance from an agent or online for your personal vehicles, there really is not a perfect coverage plan. Your needs are unique to you so this has to be addressed.
For instance, these questions may help you determine if you could use an agent’s help.
- I have good health insurance, so how much medical payments coverage do I need?
- Should I drop comprehensive coverage on older vehicles?
- Are my custom wheels covered?
- Does my liability insurance cover pulling a trailer or camper?
- Am I covered if I break a side mirror?
- Do I have newly-acquired coverage?
- Can I get a multi-policy discount?
- Am I insured when driving a different vehicle?
- Do I need roadside assistance coverage?
If you can’t answer these questions, then you may want to think about talking to a licensed agent. If you don’t have a local agent, complete this form or you can also visit this page to select a carrier
One last note
We just showed you a lot of tips how to compare BMW X1 insurance rates in Lexington. It’s most important to understand that the more price quotes you have, the higher the chance of saving money. You may even discover the most savings is with an unexpected company. Smaller companies may often insure only within specific states and give better rates than the large multi-state companies such as GEICO and State Farm.
More affordable auto insurance in Lexington can be sourced on the web and from local insurance agents, and you should be comparing both to have the best rate selection. Some insurance companies may not provide online quoting and most of the time these regional insurance providers only sell coverage through local independent agencies.
To read more, feel free to visit the resources below:
- A Tree Fell on Your Car: Now What? (Allstate)
- Who Has Affordable Lexington Auto Insurance for Teenagers? (FAQ)
- Auto Crash Statistics (Insurance Information Institute)
- Five Mistakes to Avoid (Insurance Information Institute)
- Protecting Teens from Drunk Driving (Insurance Information Institute)
- Frontal Crash Tests (iihs.org)