Finding decent, cheap insurance is not the easiest thing to do, and figuring out which companies have the lowest-priced car insurance rates for hybrid vehicles may require a bit more work. Every insurance provider uses a different method to set premium rates, so let’s begin by examining the most budget-friendly car insurance companies in Lexington, KY.
Cheapest Insurance Rates for Hybrids
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Cincinnati Insurance | $1,093 |
| 2 | Kentucky Farm Bureau | $1,139 |
| 3 | USAA | $1,187 |
| 4 | Auto-Owners | $1,371 |
| 5 | Motorists Mutual | $1,569 |
| 6 | Grange Mutual | $1,577 |
| 7 | Travelers | $1,680 |
| 8 | State Farm | $1,812 |
| 9 | Westfield | $1,870 |
| 10 | Safe Auto | $1,972 |
| 11 | Progressive | $2,056 |
| 12 | Nationwide | $2,064 |
| 13 | Electric | $2,139 |
| 14 | State Auto | $2,254 |
| 15 | GEICO | $2,341 |
| 16 | Encompass | $2,358 |
| 17 | Safeco | $2,791 |
| 18 | MetLife | $3,084 |
| 19 | Shelter | $3,135 |
| 20 | Liberty Mutual | $3,634 |
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Cincinnati Insurance may have some of the most affordable car insurance rates in Lexington at around $1,093 per year. Kentucky Farm Bureau, USAA, Auto-Owners, and Motorists Mutual also make the cut as some of the more affordable Lexington, KY auto insurance companies.
As shown in the rates above, if you are insured with Auto-Owners and switched to Cincinnati Insurance, you may realize yearly savings of approximately $278. Drivers with Motorists Mutual could save as much as $476 a year, and Grange Mutual insureds might cut rates by $484 a year.
It’s important to note that these rates are averages for all drivers and vehicles in Kentucky and and are not figured with a specific location for hybrid vehicles. So the insurer that can offer you the best rate may not even be in the top 21 companies in the list above. That points out the importance of why you need to compare as many prices as possible using your own specific driver and vehicle information.
One of the many factors that aid in calculating insurance cost is where you choose to live in Lexington. Areas with more people or more claims likely pay more, whereas areas with fewer weather claims and lower vehicle theft rates have the luxury of cheap car insurance rates.
The illustration below ranks the most expensive cities in Kentucky for hybrid vehicles to purchase auto insurance in. Lexington shows up at #19 with an annual premium of $1,469 for the average insurance policy, which is approximately $122 each month.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | Louisville | $2,112 |
| 2 | Frankfort | $1,778 |
| 3 | Jeffersontown | $1,719 |
| 4 | Saint Matthews | $1,660 |
| 5 | Ashland | $1,656 |
| 6 | Radcliff | $1,638 |
| 7 | Madisonville | $1,616 |
| 8 | Paducah | $1,583 |
| 9 | Murray | $1,565 |
| 10 | Georgetown | $1,551 |
| 11 | Danville | $1,549 |
| 12 | Elizabethtown | $1,547 |
| 13 | Henderson | $1,541 |
| 14 | Richmond | $1,535 |
| 15 | Winchester | $1,517 |
| 16 | Nicholasville | $1,504 |
| 17 | Covington | $1,487 |
| 18 | Hopkinsville | $1,478 |
| 19 | Lexington | $1,469 |
| 20 | Erlanger | $1,463 |
| 21 | Fort Thomas | $1,455 |
| 22 | Florence | $1,441 |
| 23 | Bowling Green | $1,433 |
| 24 | Owensboro | $1,432 |
| 25 | Independence | $1,422 |
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Premium costs are comparative as specific location information can revise coverage prices considerably.
The vehicle model you are trying to insure is a large factor that determines if you can find the most economical insurance for hybrid vehicles. Vehicles with economical engines, advanced safety features, or a low likelihood of liability claims will cost substantially less to insure than adrenaline junky models.
The data below illustrates auto insurance rates for a number of the cheaper automobiles to insure.
| Vehicle Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLS 2WD | $914 |
| Honda CR-V EX 4WD | $936 |
| Jeep Wrangler Sahara 4WD 2-Dr | $1,027 |
| Chevrolet Impala LS | $1,063 |
| Chevrolet Malibu LS | $1,085 |
| Toyota RAV4 Limited 4WD | $1,090 |
| Nissan Altima 2.5 4-Dr Sedan | $1,085 |
| Ford Explorer Limited AWD | $1,106 |
| Toyota Prius | $1,113 |
| Dodge Grand Caravan SE | $1,122 |
| Toyota Camry SE | $1,143 |
| Chevrolet Silverado LS Extended Cab 2WD | $1,163 |
| GMC Sierra SLE Regular Cab 4WD | $1,165 |
| Compare Cheap Rates Go | |
Data rating is based on single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Kentucky minimum liability limits. Discounts applied include multi-policy, homeowner, claim-free, multi-vehicle, and safe-driver. Price information does not factor in Lexington, KY location which can raise or lower insurance rates noticeably.
Based upon these rates, we can infer that cars like the Ford Escape, Honda CR-V, Jeep Wrangler, Chevrolet Impala, and Chevrolet Malibu are going to be a few of the cheapest vehicles to insure for hybrids.
How accidents and tickets impact rates
The easiest method to get affordable car insurance rates in Lexington for hybrids is to be an attentive driver and avoid traffic citations and accidents. The example below illustrates how violations and at-fault collisions influence car insurance costs for different age groups. The prices are based on a married male driver, comprehensive and collision coverage, $100 deductibles, and no additional discounts are factored in.
In the chart above, the average cost of auto insurance in Lexington per year with a clean driving record and no accidents is $2,137. Get written up for two speeding tickets and the average cost jumps to $2,960, an increase of $823 each year. Now throw in two accidents along with the two speeding tickets and the annual cost of car insurance for hybrid vehicles jumps again to an average of $5,907. That’s an increase of $3,771, or $314 per month, just for not driving attentively!
Ending up with a good quality car insurance provider is difficult considering how many companies are available to choose from in Lexington. The company rank data displayed below may help you choose which car insurance companies to look at purchasing a policy from.
These rankings are only comprised of the largest companies in the United States, so companies that may only write in Kentucky are not factored into the list. To compare prices from these top insurers and more, just click here.
Top 10 Large Car Insurance Companies in Lexington Ranked by A.M. Best Rating
- Travelers – A++
- USAA – A++
- GEICO – A++
- State Farm – A++
- Erie Insurance – A+
- Esurance – A+
- Progressive – A+
- Nationwide – A+
- The Hartford – A+
- Allstate – A+
Top 10 Large Car Insurance Companies Overall in Lexington
- Travelers
- USAA
- AAA Insurance
- Nationwide
- Allstate
- State Farm
- The Hartford
- Safeco Insurance
- Progressive
- American Family
Your low-price policy may be costing you money
Lexington car insurance rates are calculated based on many things that will increase or decrease the price of your policy. Improving your credit rating, buying a home, or getting a ticket for running a stop sign can trigger changes in premium that can make some companies more affordable than competitors.
And not only may your rating factors change, but auto insurance companies modify pricing every year or even multiple times each year to adjust for heavy claims or excess profits. Heavy losses can result in additional premium costs, while lower claim levels may result in lower-cost Lexington car insurance rates.
As an example, the graph below shows rates for the cheapest car insurance in Lexington, KY for a 30-year-old male driver with a good driving record, no prior claims, and good credit. If we estimate prices based on his current rating profile, Cincinnati Insurance might quote the best car insurance rates in Lexington at $1,167 each year. This is $976 less than the average policy premium paid by Kentucky drivers of $2,143. Kentucky Farm Bureau, USAA, Auto-Owners, and Grange Mutual also make the list of the cheapest Lexington, KY auto insurance companies.
The chart below compares rates after we give the driver from the above example a chargeable accident, slightly worse credit, and a stop sign violation. Due to the fact that every insurance company uses a different method to determining premium rates, analyzing rates may result in a new list of the cheapest companies as shown below.
Motorists Mutual now has the cheapest insurance rate in Lexington with USAA, Kentucky Farm Bureau, Westfield, and State Farm now rounding out the top five. This demonstrates why Lexington drivers need to take the time to shop around to find the cheapest insurance quotes for hybrid vehicles.
Car insurance prices are made up of many factors and can change substantially, so the cheapest rate the last time you shopped your coverage around may now be one of the higher cost companies.
How to find more affordable car insurance for hybrid vehicles
It’s not impossible to find cheaper rates, and here are many thrifty suggestions that can help Kentucky drivers locate low-cost coverage.
- Do not get into accidents
- Older vehicles may not need full coverage
- Buying your home and auto policies from the same company can earn a discount
- Buy vehicles with good safety ratings
- Good credit can save money
- Compare rates and switch if you can find a better deal
That last idea is incredibly critical, as we noted in the article above. Auto insurance prices can be adjusted at any time, so you should be ready to buy from a different company if you find a cheaper price. Having a favorite company is fine, but it isn’t a good idea if your bullheadedness ends up costing you potentially thousands of dollars a year. Now is a great time to compare rates and find cheaper insurance for hybrid vehicles in Lexington.