It’s shocking but about 70% of customers renewed their policy with the same company for at least the last four years, and practically 40% of insurance customers have never compared rate quotes at all. With the average insurance premium being $2,100, Kentucky drivers can save about 30% each year by just comparing rate quotes, but they don’t believe the amount of savings they would get if they switched to a more affordable policy.
The best way we recommend to get discount car insurance rates is to make a habit of regularly comparing prices from different companies in Lexington. Drivers can shop around by completing these steps.
Step 1: Take a few minutes and learn about how companies price auto insurance and the factors you can control to keep rates in check. Many rating factors that cause high rates such as traffic tickets, fender benders, and poor credit history can be rectified by improving your driving habits or financial responsibility. This article gives the details to get affordable coverage and find missing discounts.
Step 2: Get rate quotes from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can give quotes from a single company like Progressive and State Farm, while independent agents can quote prices for many different companies. View prices
Step 3: Compare the new rates to your existing rates to determine if switching companies saves 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.
Step 4: Provide proper notification to your current company to cancel your current coverage and submit a completed policy application and payment to the newly selected company. As soon as you receive it, store the proof of insurance paperwork in an accessible location in your vehicle.
One key aspect when comparing rates is that you’ll want to compare identical limits and deductibles on every quote request and and to look at all possible companies. Doing this guarantees an apples-to-apples comparison and a complete selection of prices.
Pricing the best-priced coverage in Lexington is not as hard as you think. Basically, every driver who needs cheaper auto insurance will most likely be able to save money. But Kentucky vehicle owners should learn the methods companies use to calculate your auto insurance rates and use this information to your advantage.
Auto insurance providers offering low-cost price quotes in Kentucky
The companies shown below offer comparison quotes in Lexington, KY. To get the best auto insurance in Kentucky, we suggest you click on several of them in order to get a fair rate comparison.
What Impacts Chevy SS Insurance Prices?
Smart consumers have a good feel for the different types of things that help calculate your premiums. If you have a feel for what controls the rates you pay, this helps enable you to make changes that can earn you better auto insurance rates.
The items below are some of the most rate-impacting factors utilized by car insurance companies to help set your premiums.
Raise your coverage deductibles for better rates – Your deductibles define the amount you are willing to pay if you file a covered claim. Insurance for physical damage to your car, also called ‘full coverage’, protects your car from damage. Some coverage claims are collision with another vehicle, collision with a deer, or theft of your vehicle. The more you pay before a claim is paid (deductible), the better rate you will receive.
More mileage equals more premium – The more you drive in a year the more you’ll pay to insure it. Most companies charge to insure your cars based upon how much you drive. Cars and trucks that have low annual miles qualify for better rates than vehicles that are driven to work every day. It’s a good idea to make sure your policy reflects the correct usage, because it can save money. A policy that improperly rates your SS is just wasting money.
Vehicle risk influences prices – The type of car or truck you are trying to find cheaper insurance for makes a substantial difference in your car insurance bill. The lowest premiums are for the lowest performance passenger models, but other factors influence the final cost greatly.
Get hitched and get cheaper prices – Getting married can get you a discount on your policy. Marriage may mean you are more responsible and statistics show drivers who are married are more cautious.
Prevent your car from being stolen – Choosing a vehicle with an alarm system can help bring down rates. Systems that thwart thieves such as GM’s OnStar, tamper alarm systems and vehicle immobilizers all help prevent car theft.
Responsible credit saves on auto insurance – Having a good credit score is a big factor in your rate calculation. Therefore, if your credit rating is low, you could potentially save money when insuring your Chevrolet SS if you improve your credit rating. People that have very high credit ratings tend to be better risks to insure than those with lower credit scores.
Chevy SS statistical loss data – Insurers analyze historical claim data to help set a rate to offset losses. Vehicles that tend to have increased claim numbers or amounts will cost more to insure. The table shown below demonstrates the collected loss data for Chevy SS vehicles.
For each coverage category, the claim amount for all vehicles averaged together equals 100. Values below 100 indicate a favorable loss history, while percentage values above 100 indicate more frequent losses or an increased likelihood of larger losses.
|Vehicle Make and Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
Empty fields indicate not enough data collected
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Don’t overlook these Chevy SS insurance discounts
Car insurance is not an enjoyable expense, but you might be missing out on some discounts that many consumers don’t even know exist. Some discounts will apply at quote time, but some need to be asked for before you will receive the discount.
- Switch and Save Discount – Some companies give discounts for switching companies prior to the expiration date on your current SS insurance policy. It could save around 10% when you buy Lexington auto insurance online.
- Life Insurance Discount – Larger companies have lower prices if you buy life insurance.
- Driving Data Discount – Policyholders that allow driving data collection to study driving manner by using a telematic data system such as In-Drive from State Farm or Allstate’s Drivewise system may get a rate reduction if they have good driving habits.
- Employee of Federal Government – Being employed by or retired from a federal job may reduce rates when you quote Lexington auto insurance depending on your company.
- Theft Deterrent – Cars, trucks, and SUVs optioned with advanced anti-theft systems can help prevent theft and earn discounts up to 10% off your Lexington auto insurance quote.
- Accident Free – Lexington drivers who stay claim-free can save substantially as opposed to bad drivers.
- ABS Braking Discount – Vehicles with ABS and/or traction control can avoid accidents and earn discounts up to 10%.
- Buy New and Save – Buying a new car instead of a used SS can get you a discount due to better safety requirements for newer vehicles.
- Multi-policy Discount – If you combine your auto and homeowners policies with one insurance company you will save approximately 10% to 15%.
- Military Discounts – Being deployed in the military could mean lower rates.
Policy discounts save money, but some credits don’t apply to the whole policy. Most cut the cost of specific coverages such as comp or med pay. So when it seems like all the discounts add up to a free policy, you’re out of luck.
The best car insurance companies and a selection of discounts are detailed below.
- State Farm offers discounts including multiple policy, defensive driving training, multiple autos, accident-free, driver’s education, and Steer Clear safe driver discount.
- GEICO may include discounts for five-year accident-free, air bags, seat belt use, federal employee, and multi-vehicle.
- Progressive has discounts for multi-vehicle, good student, continuous coverage, homeowner, online signing, multi-policy, and online quote discount.
- 21st Century offers premium reductions for automatic seat belts, air bags, theft prevention, anti-lock brakes, defensive driver, teen driver, and 55 and older.
- American Family may offer discounts for early bird, bundled insurance, mySafetyValet, good student, good driver, and accident-free.
- The Hartford policyholders can earn discounts including air bag, vehicle fuel type, defensive driver, bundle, good student, driver training, and anti-theft.
- AAA offers discounts for multi-car, good driver, pay-in-full, AAA membership discount, education and occupation, good student, and multi-policy.
When getting a coverage quote, ask every company which discounts they offer. Some of the earlier mentioned discounts may not apply in every state. To view car insurance companies with discount rates in Kentucky, click this link.
You may need advice from an insurance agent
Many people just prefer to have an agent’s advice and that is just fine! One of the great benefits of getting online price quotes is that you can obtain cheap auto insurance rates and still buy from a local agent. Buying insurance from local insurance agents is still important in Lexington.
By using this quick form, your insurance data is submitted to agents in your area that can give you free Lexington auto insurance quotes for your coverage. There is no reason to find an agent on your own since rate quotes are delivered directly to you. You can most likely find cheaper rates AND an agent nearby. If you want to quote rates from a particular provider, you would need to visit that company’s website to submit a rate quote request.
When searching for a good Lexington insurance agent, there are two different types of agencies that differ in how they can insure your vehicles. Auto insurance policy providers are either independent agents or exclusive agents.
Independent Auto Insurance Agencies or Brokers
Independent agencies do not work for one specific company so as a result can place your coverage with lots of companies and get the cheapest rates. If you want to switch companies, your policy is moved internally and you don’t have to switch agencies. When comparing auto insurance rates, we recommend you contact several independent agencies to get the best comparison.
Featured below is a small list of independent insurance agencies in Lexington who may be able to give you comparison quotes.
Triad Insurance Agency, Inc.
1216 S Broadway – Lexington, KY 40504 – (859) 255-0806 – View Map
Exclusive Insurance Agents
Agents that elect to be exclusive have only one company to place business with and examples are American Family, State Farm, and AAA. They are unable to provide prices from multiple companies so they are skilled at selling on more than just price. Exclusive agencies are well trained on sales techniques which helps overcome the inability to quote other rates.
The following are exclusive agencies in Lexington that can give you comparison quotes.
Finding the right car insurance agent needs to be determined by more than just the bottom line cost. These are some questions your agent should answer.
- By raising physical damage deductibles, how much would you save?
- Will you get a loaner vehicle if you car is being repaired?
- Is the agent properly licensed in Kentucky?
- Does the agent have professional designations like CIC, CPCU or AIC?
- Do they specialize in personal lines coverage in Lexington?
- Are claims handled at the agent’s location?
- Where would glass claims be handled in Lexington?
- Can they provide you with a list of referrals?
Will just any policy work for me?
When quoting and comparing your policy for your vehicles, there is no cookie cutter policy. Your needs are not the same as everyone else’s.
Here are some questions about coverages that could help you determine whether your personal situation would benefit from an agent’s advice.
- Does coverage follow the driver or the vehicle?
- Are my custom wheels covered?
- Where can I find DUI or SR-22 insurance?
- How much liability do I need to cover my assets?
- Do I get a pro-rated refund if I cancel my policy early?
- What is UM/UIM insurance?
If you can’t answer these questions then you might want to talk to an insurance agent. To find lower rates from a local agent, fill out this quick form.
Persistence will pay off
As you prepare to switch companies, make sure you don’t buy less coverage just to save a little money. There have been many cases where consumers will sacrifice liability limits or collision coverage only to regret that a couple dollars of savings turned into a financial nightmare. The ultimate goal is to get the best coverage possible at the lowest possible cost.
Some insurance companies don’t offer online quoting and most of the time these regional insurance providers provide coverage only through local independent agents. Cheaper Chevy SS insurance in Lexington is attainable from both online companies in addition to many Lexington insurance agents, so you should compare both to have the best rate selection.
Consumers switch companies for a variety of reasons including an unsatisfactory settlement offer, high prices, questionable increases in premium and even delays in responding to claim requests. Regardless of your reason for switching companies, switching insurance companies is pretty easy and you might even save some money in the process.
Much more information about insurance in Kentucky can be found at these links:
- Collision Coverage (Liberty Mutual)
- Who Has Cheap Lexington Auto Insurance Quotes for a Subaru Impreza? (FAQ)
- How Much are Car Insurance Quotes for a Toyota Corolla in Lexington? (FAQ)
- Who Has Cheap Auto Insurance Quotes for State Employees in Lexington? (FAQ)
- Preventing Carjacking and Theft (Insurance Information Institute)
- Prom Night Tips for Teen Drivers (State Farm)