The words “cheap” and “insurance” really shouldn’t be used in the same sentence, in particular when searching for the cheapest coverage for high school students. To save some money, let’s open your eyes to some of the factors that have a considerable impact on car insurance rates, and find a way to shave a little off the next policy you buy.
Deciphering which companies offer the cheapest car insurance rates for high school students will require a little more work than just quoting one company’s rates.
Each auto insurer has their own guidelines to set premium rates, so let’s examine the most competitive car insurance companies in Lexington, KY.
Cheap Insurance Rates for Students
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| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Cincinnati Insurance | $1,093 |
| 2 | Kentucky Farm Bureau | $1,174 |
| 3 | USAA | $1,211 |
| 4 | Auto-Owners | $1,371 |
| 5 | Motorists Mutual | $1,601 |
| 6 | Travelers | $1,614 |
| 7 | Grange Mutual | $1,625 |
| 8 | Westfield | $1,814 |
| 9 | State Farm | $1,867 |
| 10 | Safe Auto | $1,932 |
| 11 | Nationwide | $2,064 |
| 12 | Progressive | $2,077 |
| 13 | Electric | $2,160 |
| 14 | State Auto | $2,232 |
| 15 | Encompass | $2,382 |
| 16 | GEICO | $2,413 |
| 17 | Safeco | $2,681 |
| 18 | MetLife | $3,053 |
| 19 | Shelter | $3,167 |
| 20 | Liberty Mutual | $3,744 |
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Cincinnati Insurance may offer some of the best car insurance rates in Lexington at around $1,093 each year. Kentucky Farm Bureau, USAA, Auto-Owners, and Motorists Mutual would also be considered some of the most economical Lexington, KY insurance companies.
As shown in the table above, if you buy coverage from Motorists Mutual and switched to Kentucky Farm Bureau, you might see a yearly savings of roughly $427. Drivers with Travelers could save as much as $440 a year, and Grange Mutual insureds might cut rates by $451 a year.
To get a fast rate comparison, click here to get a free quote or feel free to get quotes from the companies below.
Bear in mind that those premiums are averages across all drivers and vehicles in Kentucky and are not factoring in a vehicle location for high school students. So the car insurance company that is best suited for you may not even be in the top 21 companies shown above. That helps illustrate why you need to get auto insurance quotes using your own driver information and specific vehicle type.
For teenagers, one of the more important factors that determine the annual cost of car insurance is where you keep your vehicle in Lexington. Cities with larger populations or higher claim trends tend to pay slightly more, whereas areas with less people or fewer weather incidents benefit from having to pay less for coverage.
The following table sorts the most expensive cities in Kentucky for high school students to purchase auto insurance in. Lexington makes the list at #21 with the annual price of $1,469 for coverage, which is approximately $122 monthly.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Louisville | $2,154 |
| 2 | Frankfort | $1,725 |
| 3 | Saint Matthews | $1,711 |
| 4 | Ashland | $1,673 |
| 5 | Jeffersontown | $1,668 |
| 6 | Paducah | $1,647 |
| 7 | Madisonville | $1,616 |
| 8 | Radcliff | $1,590 |
| 9 | Murray | $1,565 |
| 10 | Danville | $1,549 |
| 11 | Elizabethtown | $1,547 |
| 12 | Richmond | $1,535 |
| 13 | Winchester | $1,517 |
| 14 | Nicholasville | $1,504 |
| 15 | Henderson | $1,495 |
| 16 | Georgetown | $1,491 |
| 17 | Covington | $1,487 |
| 18 | Hopkinsville | $1,478 |
| 19 | Bowling Green | $1,476 |
| 20 | Florence | $1,471 |
| 21 | Lexington | $1,469 |
| 22 | Fort Thomas | $1,455 |
| 23 | Independence | $1,436 |
| 24 | Erlanger | $1,435 |
| 25 | Owensboro | $1,418 |
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Premium costs are comparative as specific Lexington zip code can influence price quotes considerably.
Get discounts on Lexington auto insurance rates
Insurance providers that offer quotes for high school students may have premium discounts that can lower rates by as much as 40% or more if you are eligible. Popular car insurance companies and their offered discounts are:
- GEICO may offer discounts for air bags, five-year accident-free, multi-vehicle, military active duty, and defensive driver.
- MetLife policyholders can earn discounts including multi-policy, accident-free, claim-free, good student, defensive driver, good driver
- Progressive has discounts for online signing, good student, online quote discount, homeowner, multi-vehicle, multi-policy, and continuous coverage.
- Travelers may include discounts for good student, multi-car, continuous insurance, payment discounts, IntelliDrive, and new car.
- SAFECO offers discounts including multi-car, accident prevention training, teen safety rewards, teen safe driver, bundle discounts, drive less, and anti-theft.
- AAA has savings for anti-theft, education and occupation, good driver, good student, and multi-policy.
The information below illustrates the difference between insurance costs with and without discounts being applied to the rates. The premiums are based on a male driver, no claims or violations, Kentucky state minimum liability limits, comp and collision included, and $250 deductibles.
The first bar for each age group shows insurance cost with no discounts. The second shows the rates with passive restraint, paid-in-full, vehicle safety, continuous coverage, anti-theft, and good student discounts applied. When drivers take advantage of discounts, theaverage yearly reduction on car insurance for high school students is 28% or $607.
Best car insurance company in Kentucky
Picking the highest-rated company can be a challenge considering how many companies sell coverage in Kentucky. The ranking data in the lists below can help you select which insurers you want to consider comparing price quotes from.
The ratings below only include large, nationwide insurance companies, so companies with more of a regional focus will not be included in this list. If you’d like to compare prices and find the cheapest rates for high school students, follow this link.
Top 10 Large Auto Insurers Overall in Lexington
- Travelers
- USAA
- AAA Insurance
- Nationwide
- Allstate
- State Farm
- The Hartford
- Safeco Insurance
- Progressive
- American Family
Top 10 Large Auto Insurers in Lexington Ranked by Value
- Travelers
- American Family
- AAA Insurance
- Safeco Insurance
- Progressive
- The Hartford
- Erie Insurance
- The General
- Esurance
- 21st Century
How to find low-cost car insurance for high school students
The list below shows some money-saving solutions that can help Lexington drivers quote lower-cost coverage.
- Ensure your driving record is clean
- Drive vehicles with five-star safety ratings
- Bundle home and auto and earn a discount
- Pay less by remaining claim-free
- Accidents can significantly increase rates
- Compare price quotes at least once a year
That final tip is especially important, as we pointed out in the article above. Car insurance rates in Lexington can change in a short period of time, so don’t be tentative to switch carriers if a cheaper rate is available.
Being loyal to a particular company is commendable, but it’s not a good idea if that inflexibility results in costing you money that could be used for better things. In less than five minutes you could compare rates to find cheaper auto insurance for high school students.