Writing this article would sure be easy if we could just tell you the single company that has the best insurance prices in Kentucky. Unfortunately, it’s not that simple as there are a lot of unknowns such as your credit score, if you want full coverage, and where you live in Lexington. This article will detail the best ways to pay less and hopefully give you enough understanding to have a solid foundation to find cheaper car insurance in Lexington.
Figuring out which company quotes the cheapest car insurance rates for handicapped drivers involves a little more work in order to find coverage that fits your budget. Every auto insurer has a proprietary formula to set their prices, so we’ll go over the car insurance companies with the most affordable rates in Lexington.
It’s important to know that Kentucky car insurance rates are impacted by many things which can substantially decrease or increase your annual premium. Simply improving your credit, having a teenage driver, or getting a ticket for careless driving may prompt premium changes that can cause some rates to be more affordable than the competition.
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Cincinnati Insurance has some of the most affordable car insurance rates in Lexington at around $1,093 per year. This is $1,050 less than the average price paid by Kentucky drivers of $2,143. Kentucky Farm Bureau, USAA, Auto-Owners, and Grange Mutual would also make the list of some of the cheaper Lexington, KY auto insurance companies.
As depicted above, if you currently have coverage with Auto-Owners and switched to Kentucky Farm Bureau, you might realize annual savings of about $250. Drivers with Grange Mutual might save as much as $446 a year, and Travelers insureds might cut rates by $451 a year.
Be aware that those estimates are averaged across all types of drivers and the different vehicles they drive and are not factoring in an exact location for handicapped drivers. So the company that can offer you the best rate may not even be in the top 21 companies in the list above. That is why you need to compare rates from multiple companies using your own individual information.
The type of vehicle you are insuring is a large consideration that determines if you can find the best car insurance for handicapped drivers. Vehicles with lots of horsepower, poor crash test ratings, or a history of substantial liability claims will cost much more to insure than more economical and safe models.
The data below presents insurance costs for the more affordable automobiles to buy coverage for.
| Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V EX-L 2WD | $1,044 |
| Toyota RAV4 4WD | $1,057 |
| Jeep Grand Cherokee Laredo 2WD | $1,064 |
| Toyota Tacoma Double Cab 4WD | $1,077 |
| Hyundai Elantra GLS Touring Station Wagon | $1,096 |
| Ford Escape XLT 4WD | $1,122 |
| GMC Sierra SLT Crew Cab 2WD | $1,130 |
| Nissan Altima Hybrid 4-Dr Sedan | $1,139 |
| Toyota Prius | $1,132 |
| Ford Explorer Eddie Bauer 2WD | $1,147 |
| Honda Civic GX 4-Dr Sedan | $1,167 |
| Volkswagen Jetta S 2.5 Station Wagon | $1,192 |
| Kia Optima EX | $1,207 |
| Chevrolet Equinox LT AWD | $1,212 |
| Ford F-150 XLT Regular Cab 4WD | $1,224 |
| GMC Sierra 3500HD SLT Crew Cab 2WD | $1,227 |
| Dodge Ram 3500 Crew Cab Laramie 2WD | $1,232 |
| Dodge Ram Crew Cab TRX 4WD | $1,229 |
| Chevrolet Malibu LT | $1,235 |
| GMC Sierra 2500HD SLE Crew Cab 2WD | $1,263 |
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Price data assumes single female driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Kentucky minimum liability limits. Discounts applied include safe-driver, claim-free, multi-vehicle, homeowner, and multi-policy. Rates do not factor in Lexington, KY location which can alter price quotes greatly.
Looking at the data, we can presume that vehicles like the Honda CR-V, Toyota RAV4, Jeep Grand Cherokee, and Toyota Tacoma are some of the more affordable vehicles to insure for drivers with handicaps.
One of the more important things that determine the annual cost of car insurance is where you keep your car. Regions with larger populations or more claims are more likely to have higher rates, whereas areas that tend to be more rural have the luxury of lower rates.
The next table lists the highest-priced places in Kentucky for handicapped drivers to purchase a policy in. Lexington ranks #24 with an annual cost of $1,454 on average, which is approximately $121 per month.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Louisville | $2,176 |
| 2 | Frankfort | $1,742 |
| 3 | Saint Matthews | $1,711 |
| 4 | Jeffersontown | $1,685 |
| 5 | Ashland | $1,673 |
| 6 | Radcliff | $1,654 |
| 7 | Paducah | $1,647 |
| 8 | Elizabethtown | $1,611 |
| 9 | Murray | $1,597 |
| 10 | Danville | $1,596 |
| 11 | Madisonville | $1,552 |
| 12 | Winchester | $1,547 |
| 13 | Henderson | $1,541 |
| 14 | Georgetown | $1,536 |
| 15 | Hopkinsville | $1,523 |
| 16 | Covington | $1,517 |
| 17 | Richmond | $1,490 |
| 18 | Independence | $1,480 |
| 19 | Erlanger | $1,478 |
| 20 | Bowling Green | $1,476 |
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Rates are comparative as the specific Lexington residence address can alter insurance rates considerably.
Ending up with the best car insurance company can be difficult considering how many different companies there are to choose from in Lexington. The company information in the lists below may help you select which car insurance companies to look at when shopping around. The ratings below are only comprised of companies that insure vehicles across America, so companies with more of a regional focus are not factored into this list.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| Travelers | 93 | 98 | 99 | 88% | A++ | 95.1 |
| USAA | 83 | 99 | 100 | 91% | A++ | 94.1 |
| AAA Insurance | 91 | 95 | 92 | 90% | A | 93.3 |
| Nationwide | 85 | 95 | 97 | 89% | A+ | 92.4 |
| Allstate | 77 | 100 | 97 | 88% | A+ | 90.7 |
| State Farm | 80 | 94 | 96 | 88% | A++ | 90.6 |
| The Hartford | 88 | 93 | 91 | 87% | A+ | 90.4 |
| Safeco Insurance | 91 | 95 | 85 | 88% | A | 90.2 |
| Progressive | 88 | 94 | 83 | 88% | A+ | 90.1 |
| American Family | 91 | 86 | 95 | 83% | A | 89.7 |
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Data Source: Insure.com Best Car Insurance Companies
Impact of citations and accidents on insurance rates
The ideal way to score the cheapest car insurance rates for drivers with handicaps is to be a careful driver and avoid accidents and traffic citations. The diagram below illustrates how speeding tickets and at-fault claims impact insurance prices for each different age group. The premiums are based on a single female driver, comp and collision included, $250 deductibles, and no policy discounts are applied.
The data above shows the average cost of auto insurance in Kentucky per year with a clean driving record and no accidents is $1,800. Get written up for two speeding tickets and the average cost swells to $2,420, an increase of $620 each year. Then throw in two accidents along with the two speeding tickets and the 12-month cost of car insurance for handicapped drivers goes up to an average of $4,606. That’s an increase of $2,806, or $234 per month, just for not driving attentively!
The illustration below illustrates how your deductible choice can influence annual premium costs when researching cheap insurance for handicapped drivers. The premiums are based on a married male driver, comp and collision included, and no policy discounts are applied.
The data above shows that a 40-year-old driver could save $316 a year by increasing from a $100 deductible to a $500 deductible, or save $478 by choosing a $1,000 deductible. Even younger insureds, such as the 20-year-old example, could reduce their rates as much as $1,060 or more just by choosing higher deductibles when buying full coverage. When insureds make the decision to increase the deductibles on their policy, it will be required to have additional savings on hand to be able to cover the extra out-of-pocket expense, which is the one inconvenience of using high deductibles.
Why are you paying too much for car insurance?
Kentucky car insurance rates are impacted by many things which can substantially change the price of your policy. Simply improving your credit, increasing liability limits, or having an accident may cause policy rate changes resulting in some rates now being more affordable than others. Not only may your risk profile change, but car insurance companies change their prices as often as every quarter in order to remain profitable. A period of higher than normal claims may cause increased policy costs, while a lower level of claims can result in cheaper Lexington car insurance rates.
To illustrate this point, the data below shows the company with the cheapest car insurance in Lexington, KY for a 30-year-old male driver with no accidents or violations, and solid credit. If we look at prices based on his current risk factors, Cincinnati Insurance may have the lowest car insurance rates in Lexington at $1,207 per year. This is $936 less than the average policy premium paid by Kentucky drivers of $2,143. Kentucky Farm Bureau, USAA, Auto-Owners, and Motorists Mutual are the remaining cheapest Lexington, KY auto insurance companies.
In this next rate comparison, we will give the driver from the first set of rates an at-fault accident, poor credit, and a few traffic violations. Because each insurer has a proprietary method to determining premium rates, comparing prices may now show a substantially altered list of the cheapest companies as shown below.
Travelers now has the lowest price in Lexington with USAA, Kentucky Farm Bureau, State Farm, and Westfield completing the list. This example demonstrates why Kentucky drivers need to perform a complete rate comparison when trying to get the most budget-friendly insurance rates for handicapped drivers. Auto insurance prices are determined by many different factors and can increase or decrease at any time, so the cheapest rate when you last compared rates may now be quite expensive.