Deciding which company offers the cheapest car insurance rates for immigrants will require more work than just comparing rates from one or two companies. Every auto insurer has a different formula for setting rates, so we’ll take a look at the car insurance companies with the most affordable rates in Kentucky.
It’s a good idea to know that Lexington car insurance rates are based on many factors which can substantially change the price you have to pay. Simply turning a year older, moving to a different location, or getting into an accident can produce rate changes resulting in some rates now being more affordable than before.
Best Auto Insurance Prices for Migrants
Cincinnati Insurance offers some of the lowest car insurance rates in Lexington at around $1,115 annually. This is $1,028 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 cut as some of the cheaper Lexington, KY auto insurance companies.
In the above example, if you currently have a policy with Kentucky Farm Bureau and switched to Cincinnati Insurance, you could realize yearly savings of in the vicinity of $13. Drivers with USAA could save as much as $96 a year, and Auto-Owners customers might see rate reductions of $284 a year.
To compare your rates to other Kentucky insurance companies, click here or visit any of the companies below.
Be aware that those prices are averaged across all drivers and vehicles and do not factor in an exact zip code location for immigrants. So the company that fits you best may not even be in the top 21 companies shown above. That points out the importance of why you need to compare rates from multiple companies using your own personal information and vehicle type.
For foreigners, one of the more important components that are looked at to determine auto insurance rates is where you normally keep your vehicle in Lexington. Regions with larger populations or more claims are more likely to have higher rates, whereas areas with lower vehicle theft rates and fewer weather claims benefit from having to pay less for coverage.
The illustration below ranks the most expensive places in Kentucky for immigrants to buy car insurance in. Lexington is ranked #21 with an annual cost of $1,454 for the average insured, which is about $121 per month.
| Rank | City | Average Per Year |
|---|---|---|
| 1 | Louisville | $2,090 |
| 2 | Jeffersontown | $1,736 |
| 3 | Frankfort | $1,725 |
| 4 | Ashland | $1,724 |
| 5 | Saint Matthews | $1,711 |
| 6 | Paducah | $1,631 |
| 7 | Radcliff | $1,590 |
| 8 | Danville | $1,581 |
| 9 | Madisonville | $1,568 |
| 10 | Murray | $1,565 |
| 11 | Elizabethtown | $1,563 |
| 12 | Henderson | $1,557 |
| 13 | Hopkinsville | $1,523 |
| 14 | Richmond | $1,520 |
| 15 | Winchester | $1,517 |
| 16 | Covington | $1,517 |
| 17 | Georgetown | $1,506 |
| 18 | Erlanger | $1,463 |
| 19 | Bowling Green | $1,461 |
| 20 | Nicholasville | $1,459 |
| Compare Prices Now Go | ||
Rates are approximated as the specific garaging location can alter price quotes noticeably.
Irresponsible driving raises your rates
A great way to earn cheap car insurance rates in Kentucky for foreigners is to be a safe driver and not have accidents or get tickets. The chart below demonstrates how speeding tickets and at-fault fender-benders can raise auto insurance costs for each different age group. The data assumes a married female driver, full physical damage coverage, $250 deductibles, and no additional discounts are factored in.
In the previous example, the average cost of an auto insurance policy in Lexington per year with no accidents and a clean driving record is $1,759. Factor in one speeding ticket and the average cost hikes up to $2,051, an increase of $292 each year. Then add in two accidents along with the one speeding ticket and the annual cost of car insurance for immigrants increases to an average of $4,582. That’s an increase of $2,823, or $235 per month, just for not being a responsible driver!
Get discount Lexington car insurance rates
Insurance providers that offer coverage for immigrants may also offer price discounts that may potentially lower prices by as much as 25% or more if you are eligible to receive them. Large car insurance companies and a summarized list of policyholder discounts are outlined below.
- State Farm may offer discounts for defensive driving training, good student, safe vehicle, anti-theft, good driver, and accident-free.
- GEICO may include discounts for federal employee, military active duty, multi-policy, multi-vehicle, seat belt use, five-year accident-free, and membership and employees.
- Allstate policyholders can earn discounts including resident student, farm vehicle, safe driver, premier plus, premier discount, and auto/life discount.
- SAFECO offers discounts for safe driver, multi-car, bundle discounts, accident prevention training, and homeowner.
- Farm Bureau offers discounts including safe driver, youthful driver, renewal discount, multi-vehicle, and 55 and retired.
- Progressive has discounts for multi-vehicle, online quote discount, good student, homeowner, and online signing.
- AAA may have discounts that include pay-in-full, AAA membership discount, good driver, good student, education and occupation, and multi-car.
The diagram below shows the comparison of insurance premiums with and without discounts applied to the rates. The costs are based on a female driver, no accidents, no driving violations, Kentucky state minimum liability limits, full coverage, and $100 deductibles. The first bar for each age group shows the price with no discounts. The second shows the rates with multiple policy, multiple vehicle, defensive driving course, safe-driver, homeowner, and accident-free discounts applied. When drivers take advantage of discounts, theaverage amount saved on car insurance for immigrants is 28% or $490.
Cost difference between full coverage and liability
Finding the cheapest car insurance is probably important to the majority of vehicle owners, and one good way to find cheaper insurance for immigrants is to only buy liability insurance. The illustration below illustrates the comparison of car insurance rates when comparing full coverage to liability only. The data assumes no accidents or driving violations, $250 deductibles, drivers are single, and no policy discounts are applied.
If we average the cost for all age groups, full coverage costs $2,293 per year over and above liability only. That raises the question if buying full coverage is worth the expense. There is no definitive guideline of when to stop paying for physical damage coverage on your policy, but there is a general convention. If the yearly cost of comp and collision coverage is more than around 10% of any settlement you would receive from your insurance company, then you might want to think about dropping full coverage.
For example, let’s pretend your vehicle’s claim settlement value is $6,500 and you have $1,000 physical damage deductibles. If your vehicle is totaled, the most your company will settle for is $5,500 after the deductible is paid. If you are paying more than $550 annually for comprehensive and collision coverage, then it might be time to consider dropping full coverage.
There are some circumstances where dropping full coverage is not advised. If you have an outstanding loan on your vehicle, you have to keep full coverage to protect the lienholder’s interest. Also, if you can’t afford to buy a different vehicle if your current one is totaled, you should keep full coverage.
If you have coverage questions and would like to get some help when comparing insurance rates for immigrants, the insurance agencies listed below can most likely help you determine which policy is best. To find an agent near you, click the button link following the list or click here to compare price quotes.
Forcht Insurance Agency
2721 Old Rosebud Rd – Lexington, KY 40509 – (859) 335-0237
Al Jones Insurance Agency
274 Southland Dr, Suite #106A – Lexington, KY 40503 – (859) 276-0400
Nicole Wright Insurance Agency
169 E Reynolds Rd #102 – Lexington, KY 40517 – (859) 971-0221
View map of Lexington, KY insurance agents
How to find more affordable insurance for immigrants
Here are many penny-pinching solutions that can help Kentucky drivers get lower-cost coverage.
- Buying car and homeowners insurance together can save money
- Avoid having at-fault accidents
- Assess whether full coverage is needed
- Clean up your credit
- Get cheaper liability coverage by choosing a safer vehicle
- Shop your coverage around for the best deal
The last item on the list is extremely crucial, as we stressed in this write-up. Insurance prices can change considerably based on profitability, so drivers shouldn’t be resistant to buy from a new company if a lower-cost policy is available.
Many drivers prefer to stick with one company, but it’s not a good idea if your bullheadedness ends up costing you big bucks every year. In just a few minutes you could compare prices to find cheaper insurance for immigrants in Lexington.