A recent NerdWallet.com study revealed that the vast majority of drivers kept their policy with the same company for more than four years, and virtually 40% of consumers have never compared rates from other carriers. With the average auto insurance premium being $2,130, Lexington drivers could save roughly 30% a year, but they don’t invest the time required to shop around.
The best way we recommend to find more affordable Ford Taurus insurance in Lexington is to start doing a yearly price comparison from insurers who provide auto insurance in Kentucky. You can compare rates by following these guidelines.
- Read and learn about how insurance works and the things you can control to prevent rate increases. Many rating factors that increase rates like accidents, careless driving, and poor credit can be amended by being financially responsible and driving safely.
- Get rate quotes from independent agents, exclusive agents, and direct companies. Direct and exclusive agents can only give rate quotes from one company like GEICO or Allstate, while independent agents can provide prices for many different companies.
- Compare the new quotes to the price on your current policy and see if there is a cheaper rate in Lexington. If you find a better price, make sure coverage does not lapse between policies.
- Give proper notification to your current agent or company of your intent to cancel the current policy. Submit the application along with any required down payment for your new coverage. Once coverage is bound, keep your new proof of insurance paperwork in your vehicle’s glove compartment or console.
A key point to remember is to try to use identical deductibles and limits on each quote request and and to look at as many carriers as you can. This enables a fair rate comparison and the best price selection.
The easiest way to get policy rate comparisons for Ford Taurus insurance in Lexington is to know most larger insurance companies participate in online systems to give rate comparisons. All you need to do is take a few minutes to give details including whether you have decent credit, how much school you completed, if it has an anti-theft system, and whether your vehicle is owned or leased. The rating information is submitted instantly to all major companies and they return rate quotes with very little delay.
To start a quote now, click here then complete the form.
The car insurance companies shown below have been selected to offer comparison quotes in Kentucky. In order to find the cheapest car insurance in Lexington, it’s highly recommended you get rates from several of them to find the cheapest car insurance rates.
Car insurance is an important decision
Even though it’s not necessarily cheap to insure a Ford in Lexington, car insurance is required in Kentucky but also provides important benefits.
- The majority of states have minimum mandated liability insurance limits which means the state requires a specific level of liability protection in order to drive the car legally. In Kentucky these limits are 25/50/10 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If you took out a loan on your Ford Taurus, it’s guaranteed your bank will have a requirement that you have insurance to protect their interest in the vehicle. If you do not keep the policy in force, the lender may insure your Ford at a much higher rate and force you to pay much more than you were paying before.
- Car insurance preserves not only your Ford Taurus but also your assets. It also can pay for hospital and medical expenses for yourself as well as anyone injured by you. As part of your policy, liability insurance also pays expenses related to your legal defense if you are named as a defendant in an auto accident. If your car is damaged in a storm or accident, comprehensive and/or collision insurance will pay to repair the damage minus the deductible amount.
The benefits of insuring your Taurus are definitely more than the cost, especially when you need to use it. Today the average American driver overpays more than $830 a year so shop around at every renewal to be sure current rates are still competitive.
Coverage statistics and figures
The rate information below outlines different insurance costs for Ford Taurus models. Having a good grasp of how insurance premiums are figured is important for you to make smart choices when selecting a policy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Taurus SE | $316 | $524 | $440 | $26 | $132 | $1,438 | $120 |
| Taurus SEL | $352 | $616 | $440 | $26 | $132 | $1,566 | $131 |
| Taurus SEL AWD | $352 | $616 | $440 | $26 | $132 | $1,566 | $131 |
| Taurus Limited | $352 | $616 | $440 | $26 | $132 | $1,566 | $131 |
| Taurus Limited AWD | $352 | $710 | $440 | $26 | $132 | $1,660 | $138 |
| Taurus SHO AWD | $388 | $710 | $440 | $26 | $132 | $1,696 | $141 |
| Get Your Own Custom Quote Go | |||||||
Price data assumes single female driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Kentucky minimum liability limits. Discounts applied include multi-vehicle, homeowner, multi-policy, claim-free, and safe-driver. Table data does not factor in Lexington location which can decrease or increase premium rates considerably.
Choosing deductibles
When comparing auto insurance rates, the most common question is where to set your physical damage deductibles. The tables below summarize how much more rates are between high and low physical damage deductibles. The first pricing table uses a $100 deductible for comp and collision and the second set of prices uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Taurus SE | $318 | $508 | $326 | $20 | $98 | $1,295 | $108 |
| Taurus SEL | $354 | $598 | $326 | $20 | $98 | $1,421 | $118 |
| Taurus SEL AWD | $354 | $598 | $326 | $20 | $98 | $1,421 | $118 |
| Taurus Limited | $354 | $598 | $326 | $20 | $98 | $1,421 | $118 |
| Taurus Limited AWD | $354 | $688 | $326 | $20 | $98 | $1,511 | $126 |
| Taurus SHO AWD | $390 | $688 | $326 | $20 | $98 | $1,547 | $129 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Taurus SE | $232 | $342 | $326 | $20 | $98 | $1,018 | $85 |
| Taurus SEL | $258 | $404 | $326 | $20 | $98 | $1,106 | $92 |
| Taurus SEL AWD | $258 | $404 | $326 | $20 | $98 | $1,106 | $92 |
| Taurus Limited | $258 | $404 | $326 | $20 | $98 | $1,106 | $92 |
| Taurus Limited AWD | $258 | $466 | $326 | $20 | $98 | $1,168 | $97 |
| Taurus SHO AWD | $284 | $466 | $326 | $20 | $98 | $1,194 | $100 |
| Get Your Own Custom Quote Go | |||||||
Premium data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Kentucky minimum liability limits. Discounts applied include safe-driver, multi-policy, multi-vehicle, claim-free, and homeowner. Prices do not factor in the specific area where the vehicle is garaged which can alter coverage prices greatly.
We can estimate from the data above that using a $100 deductible will cost you about $27 more each month or $324 annually than choosing the higher $500 deductible. Since you would have to pay $400 more to settle a claim with a $500 deductible as compared to a $100 deductible, if you average at least 15 months between claim filings, you would most likely save money if you choose a higher deductible.
The example below shows how different deductible levels and can change Ford Taurus annual premium costs for different age categories. The prices are based on a married female driver, full physical damage coverage, and no discounts are factored in.
Liability only or full coverage
The chart below illustrates the difference between Ford Taurus premium costs with full physical damage coverage and with liability coverage only. The rate quotes are based on a clean driving record, no at-fault accidents, $500 deductibles, marital status is single, and no discounts are taken into consideration.
When to drop comprehensive and collision coverage
There is no exact formula of when to stop paying for physical damage coverage on your policy, but there is a general school of thought. If the annual cost of comprehensive and collision coverage is about 10% or more of replacement cost minus your deductible, then you might want to think about dropping full coverage.
For example, let’s say your Ford Taurus settlement value is $7,000 and you have $1,000 deductibles. If your vehicle is destroyed, the most you would get paid by your company is $6,000 after you pay the deductible. If it’s costing in excess of $600 a year for physical damage coverage, then you may want to consider only buying liability coverage.
There are some conditions where dropping full coverage is not a good idea. If you have an outstanding loan on your vehicle, you have to carry full coverage in order to keep the loan. Also, if your finances do not allow you to purchase a different vehicle if your current one is in an accident, you should not drop full coverage.
Lexington insurance discounts for a Ford Taurus
The price of auto insurance can be rather high, but there could be significant discounts that can dramatically reduce your bill. Most are applied at the time you complete a quote, but some must be asked for before being credited. If you are not receiving all the discounts possible, you could be getting lower rates.
- Discount for Multiple Policies – When you combine your homeowners and auto insurance with one insurance company you will save up to 20% off your total Taurus insurance premium.
- Discount for Swiching Early – A few companies give discounts for switching companies before your current coverage expires. You may see this discount when you get Lexington auto insurance quotes online.
- Claim Free – Insureds with no claims or accidents can save substantially when compared to bad drivers.
- Driver’s Ed – It’s a good idea to have your young drivers enroll and complete driver’s education as it can save substantially.
- Accident Forgiveness – Not really a discount, but companies like Progressive, Allstate, and GEICO allow you one accident before hitting you with a surcharge if you have no claims for a set time period.
- Save with a New Car – Insuring a new Taurus can cost up to 25% less compared to insuring an older model.
- Defensive Driver Discount – Taking a course that instructs on driving safety could possibly earn you a 5% discount if your company offers it.
- Onboard Data Collection – People who choose to allow their insurance company to scrutinize where and when they drive remotely such as Progressive’s Snapshot could possibly reduce rates if they show good driving skills.
- Active Service Discounts – Having a deployed family member can result in better car insurance rates.
Don’t be surprised that most of the big mark downs will not be given to the whole policy. Some only reduce the cost of specific coverages such as medical payments or collision. Just because you may think all those discounts means the company will pay you, companies wouldn’t make money that way.
The diagram below compares Ford Taurus yearly insurance costs with and without discounts applied to the policy rates. Data assumes a male driver, no tickets, no at-fault accidents, Kentucky state minimum liability limits, full coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, multi-policy, multi-car, claim-free, marriage, and safe-driver discounts applied.
A list of car insurance companies and their offered discounts can be read below.
- GEICO has savings for anti-theft, anti-lock brakes, defensive driver, emergency military deployment, and multi-policy.
- Auto-Owners Insurance discounts include company car, student away at school, paperless, mature driver, and safe driver.
- American Family offers discounts for defensive driver, TimeAway discount, multi-vehicle, air bags, mySafetyValet, good student, and early bird.
- Esurance offers discounts including anti-theft, defensive driver, anti-lock brakes, Switch & Save, online quote, and multi-car.
- Progressive policyholders can earn discounts including online quote discount, good student, homeowner, multi-policy, multi-vehicle, online signing, and continuous coverage.
- State Farm includes discounts for good student, driver’s education, Steer Clear safe driver discount, defensive driving training, anti-theft, and good driver.
- AAA offers premium reductions for AAA membership discount, multi-car, anti-theft, pay-in-full, and multi-policy.
If you need lower rates, check with all the companies to give you their best rates. A few discounts may not be offered in your state. To see insurers who offer free Ford Taurus insurance quotes in Kentucky, click this link.
Compare rate quotes but buy from a local Lexington insurance agency
A lot of people prefer to have an agent’s advice and that can be a smart move Agents are trained to spot inefficiencies and help file insurance claims. One of the great benefits of getting free rate quotes online is that you can find better rates and still have an agent to talk to. And providing support for neighborhood insurance agencies is important especially in Lexington.
By using this form (opens in new window), your information gets sent to companies in Lexington who will give you bids to get your business. It makes it easy because there is no need to find an agent because prices are sent straight to your inbox. If you need to compare rates from one company in particular, just navigate to their website and complete a quote there.
When finding a local Lexington insurance agency, there are a couple of types of insurance agents to choose from. Agents are either exclusive or independent. Both types of agents can handle insurance, but it’s worth learning the difference in how they write coverage because it can factor into the selection process.
Independent Insurance Agents
Agents of this type are not employed by any specific company so they can quote policies with a variety of different insurance companies and help determine which has the cheapest rates. If you want to switch companies, the agent simply finds a different carrier and you don’t have to switch agencies.
When searching for an agent, you need to get several quotes from several independent agencies for maximum quote selection. Most also write with smaller companies that can offer cheaper rates than bigger companies.
Shown below is a list of independent insurance agents in Lexington that can give you price quote information.
- Reynolds Insurance Agency Inc
1500 Leestown Rd #160 – Lexington, KY 40511 – (859) 412-4636 – View Map - Blue Grass Insurance
2560 Richmond Rd # 200 – Lexington, KY 40509 – (859) 543-0050 – View Map - Carroll and Stone Insurance Services
4384 Clearwater Way – Lexington, KY 40515 – (859) 269-1044 – View Map
Exclusive Agents
Agents that choose to be exclusive have only one company to place business with like American Family, State Farm, and Allstate. Exclusive agents cannot compare other company’s rates so you need to shop around if the rates are high. Exclusive insurance agents are usually quite knowledgeable on their company’s products which helps offset the inability to provide other markets. Consumers often use the same agent mainly due to the brand name and the convenience of having a single billing for all their coverages.
The following is a list of exclusive agencies in Lexington willing to provide price quotes.
- State Farm: Mike Brownell
501 Darby Creek Rd – Lexington, KY 40509 – (859) 543-8454 – View Map - State Farm: Bethany Hicks
1050 Chinoe Rd #100 – Lexington, KY 40502 – (859) 264-0246 – View Map - Russ Tucker – State Farm Insurance Agent
1206 N Broadway – Lexington, KY 40505 – (859) 259-0404 – View Map
Selecting an car insurance agent requires you to look at more than just a cheap price. Below are some questions you should ask.
- Is there a 24/7 contact number?
- Do they get paid more for recommending certain coverages?
- How often do they review coverages?
- How long has the business existed?
- Can you get a list of referrals?
- How experienced are they in personal risk management?
Tailor your auto insurance coverage to you
Always keep in mind that when comparing a policy, there really isn’t a perfect coverage plan. Coverage needs to be tailored to your specific needs and a cookie cutter policy won’t apply.
These are some specific questions can aid in determining whether your personal situation could use an agent’s help.
- Does coverage extend to Mexico or Canada?
- Does my personal policy cover me when driving out-of-state?
- What if I total my Ford Taurus and owe more than it’s worth?
- Can I rate high risk drivers on liability-only vehicles?
- How much liability coverage do I need in Kentucky?
- What is glass protection for?
- Am I insured when driving a different vehicle?
- Do I need an umbrella policy?
- Am I missing any policy discounts?
- Is my custom paint covered by insurance?
If it’s difficult to answer those questions but you know they apply to you, then you may want to think about talking to an insurance agent. To find lower rates from a local agent, take a second and complete this form or go to this page to view a list of companies. It is quick, free and you can get the answers you need.
Car insurance company ratings
Selecting the top insurance company can be difficult considering how many choices there are in Kentucky. The company ratings listed below can help you decide which car insurance companies to look at buying from.
Top 10 Lexington Car Insurance Companies Ranked by Value
- Travelers
- American Family
- AAA Insurance
- Safeco Insurance
- Progressive
- The Hartford
- Erie Insurance
- The General
- Esurance
- 21st Century
Top 10 Lexington Car Insurance Companies Ranked by Customer Service
- USAA
- Travelers
- AAA Insurance
- Nationwide
- Safeco Insurance
- Progressive
- State Farm
- The Hartford
- The General
- Esurance
More quotes mean more car insurance savings
Budget-friendly car insurance in Lexington can be purchased both online as well as from independent agents in Lexington, and you need to comparison shop both to have the best rate selection. There are still a few companies who may not provide rates over the internet and these smaller companies prefer to sell through local independent agencies.
While you’re price shopping online, make sure you don’t buy lower coverage limits just to save a few bucks. There are a lot of situations where an insured cut collision coverage only to regret at claim time that it was a big mistake. Your focus should be to find the BEST coverage at a price you can afford.
We just covered a lot of techniques to reduce Ford Taurus insurance auto insurance rates online in Lexington. The most important thing to understand is the more rate comparisons you have, the better likelihood of getting cheaper Lexington auto insurance quotes. You may even be surprised to find that the lowest auto insurance rates come from the smaller companies. These smaller insurers may cover specific market segments cheaper compared to the large companies like State Farm, GEICO and Nationwide.
More tips and info about car insurance can be found by following these links:
- Distracted Driving Extends Beyond Texting (State Farm)
- What Auto Insurance is Cheapest for Infrequent Drivers in Lexington? (FAQ)
- Who Has Affordable Lexington Auto Insurance for a Ford Escape? (FAQ)
- How Much are Lexington Auto Insurance Rates for a Hyundai Elantra? (FAQ)
- What Car Insurance is Cheapest for a Nissan Altima in Lexington? (FAQ)
- What Auto Insurance is Cheapest for a Dodge Ram in Lexington? (FAQ)
- Who Has Cheap Lexington Car Insurance for Seniors? (FAQ)
- Who Has the Cheapest Lexington Auto Insurance for Drivers with a Bad Driving Record? (FAQ)
- Who Has the Cheapest Car Insurance for Active Military in Lexington? (FAQ)
- Choosing an Insurance Company (Insurance Information Institute)
- Rearview cameras reduce backing crashes (Insurance Institute for Highway Safety)
- Understanding your Policy (NAIC.org)