It’s an obvious assumption that car insurance companies don’t want their policyholders to compare prices. Insureds who shop for lower rates will, in all likelihood, move their business because there is a high probability of getting low-cost coverage. A recent survey revealed that drivers who regularly shopped around saved an average of $865 a year as compared to drivers who never shopped around.
If finding budget-friendly rates on auto insurance in Lexington is your ultimate objective, then understanding how to choose a company and compare coverage rates can help simplify the process.
If saving the most money is your goal, then the best way to quote cheaper Audi A5 insurance in Lexington is to start comparing prices yearly from insurers in Kentucky.
- Take a little time to learn about how insurance works and the changes you can make to prevent expensive coverage. Many policy risk factors that cause high rates such as accidents, traffic tickets, and your credit history can be improved by improving your driving habits or financial responsibility.
- Request rate estimates from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can provide rates from one company like GEICO or Allstate, while agents who are independent can give you price quotes from many different companies. Compare rates
- Compare the price quotes to your existing coverage and determine if there is any savings. If you can save money and buy the policy, make sure there is no lapse in coverage.
- Give proper notification to your current agent or company to cancel your existing policy and submit any necessary down payment along with the completed application to the new insurer. Make sure you place your new certificate verifying coverage in an accessible location in your vehicle.
An important part of this process is that you’ll want to compare the same coverage limits and deductibles on every quote request and and to analyze as many companies as possible. Doing this enables a fair price comparison and a complete price analysis.
Cheapest Audi insurance rate quotes in Lexington
The companies in the list below provide price comparisons in Lexington, KY. To buy the best cheap car insurance in Lexington, we recommend you get rate quotes from several of them to get the cheapest price.
Car insurance analysis for an Audi A5
The price information shown below outlines detailed analysis of insurance premium costs for Audi A5 models. Knowing how rate quotes are determined can be of help when making decisions on the best policy coverages.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| A5 2.0T Quattro Premium 2-Dr Coupe | $272 | $566 | $292 | $18 | $88 | $1,236 | $103 |
| A5 2.0T Quattro Premium Plus 2-Dr Coupe | $272 | $566 | $292 | $18 | $88 | $1,236 | $103 |
| A5 3.2 Quattro Prestige 2-Dr Coupe | $272 | $640 | $292 | $18 | $88 | $1,310 | $109 |
| A5 3.2 Quattro Premium Plus 2-Dr Coupe | $272 | $640 | $292 | $18 | $88 | $1,310 | $109 |
| A5 2.0T Quattro Prestige 2-Dr Coupe | $272 | $640 | $292 | $18 | $88 | $1,310 | $109 |
| A5 2.0T Premium 2-Dr Convertible | $272 | $640 | $342 | $20 | $102 | $1,376 | $115 |
| A5 2.0T Premium Plus 2-Dr Convertible | $272 | $640 | $342 | $20 | $102 | $1,376 | $115 |
| A5 2.0T Quattro Prestige S-Line 2-Dr Coupe | $300 | $640 | $292 | $18 | $88 | $1,338 | $112 |
| A5 2.0T Prestige S-Line 2-Dr Convertible | $300 | $640 | $342 | $20 | $102 | $1,404 | $117 |
| A5 2.0T Prestige 2-Dr Convertible | $300 | $640 | $342 | $20 | $102 | $1,404 | $117 |
| A5 3.2 Quattro Prestige S-Line 2-Dr Coupe | $300 | $714 | $292 | $18 | $88 | $1,412 | $118 |
| Get Your Own Custom Quote Go | |||||||
Prices based on married female driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Kentucky minimum liability limits. Discounts applied include safe-driver, claim-free, multi-policy, multi-vehicle, and homeowner. Premium amounts do not factor in zip code location which can raise or lower auto insurance rates noticeably.
Car insurance premiums based on gender
The illustration below illustrates the comparison of Audi A5 insurance rates for male and female drivers. The premiums are based on no tickets, no at-fault accidents, full physical damage coverage, $100 deductibles, single marital status, and no discounts are factored in.
Audi A5 liability-only versus full coverage
The diagram below visualizes the comparison of Audi A5 auto insurance rates when comparing full coverage to liability only. The prices are based on no violations or accidents, $1,000 deductibles, marital status is single, and no discounts are taken into consideration.
When to stop buying comprehensive and collision coverage
There is no clear-cut formula of when to phase out physical damage insurance, but there is a general guideline. If the yearly cost of full coverage is more than 10% of the vehicle’s replacement cost less your deductible, then you might want to think about dropping full coverage.
For example, let’s assume your Audi A5 replacement value is $3,000 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, the most your company would pay you is $2,000 after paying the physical damage deductible. If you are paying more than $200 a year for full coverage, then it may be the right time to buy liability only.
There are some circumstances where buying only liability insurance is not recommended. If you still owe money on your vehicle, you must maintain physical damage coverage as part of the loan conditions. Also, if you can’t afford to buy a different vehicle in the event your current vehicle is totaled, you should keep full coverage on your policy.
Audi A5 Insurance Cost Factors
Multiple criteria are used in the calculation when premium rates are determined. Some are obvious such as traffic violations, but other criteria are less obvious like where you live or your commute time.
The itemized list below are just a few of the factors companies use to determine your prices.
How old are your drivers? – Drivers with little experience have a tendency to get distracted easily when at the wheel of a vehicle and because of this, their insurance rates are much higher. Having to add a youthful driver onto a policy can increase premiums substantially. More experienced drivers are proven to be safer behind the wheel, statistically cause fewer accidents, and are safer drivers.
The following data uses these assumptions: single driver, full coverage with $1000 deductibles, and no discounts or violations.
Cheaper insurance rates for prior coverage – Not maintaining insurance is a misdemeanor and your next policy will cost more because you let your insurance expire. And not only will insurance be more expensive, not being able to provide proof of insurance may result in a license revocation or jail time. You could then be forced to file a SR-22 with the Kentucky DMV.
See if your company offers a multi-policy discount – Most major insurance companies provide better rates to clients that purchase more than one policy such as combining an auto and homeowners policy. Even with this discount applied, drivers will still want to comparison shop to verify if the discount is saving money.
Can a thief steal your car? – Choosing a vehicle that has an advanced theft prevention system can help lower your rates. Anti-theft devices such as vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems all hinder vehicle theft.
Raising deductibles saves money – The deductibles are the amount of money you are willing to pay out-of-pocket in the event of a claim. Physical damage protection, otherwise known as comp (or other than collision) and collision, insures against damage to your car. Examples of covered claims could be colliding with a stationary object, collision with a deer, and damage caused by road hazards. The more money you pay before a claim is paid (deductible), the lower your rates will be.
Accidents hurt – A bad driving record has a huge affect on how much you pay. Even one speeding ticket or other violation could increase your next policy renewal twenty percent or more. Drivers who don’t get tickets pay less for auto insurance than people who have multiple driving citations. Drivers who get careless violations like DUI, reckless driving or excessive speeding might be required by their state to complete a SR-22 with their state motor vehicle department in order to legally drive.
The diagram below illustrates how speeding tickets and at-fault collisions can raise Audi A5 auto insurance costs for each age group. The data assumes a married male driver, full coverage, $1,000 deductibles, and no discounts are factored in.
Getting married pays dividends – Having a wife or husband may cut your premiums on your insurance bill. Marriage demonstrates that you tend to be more mature and statistics show married drivers tend to file fewer claims.
Don’t skimp on liability coverage – The liability coverage on your policy provides coverage if you are determined to be liable for physical damage or personal injury to other. Liability provides for a legal defense to defend your case. This coverage is relatively inexpensive compared to other policy coverages, so do not cut corners here.
Audi A5 insurance loss statistics – Insurers include the past claim history for a vehicle in order to profitably underwrite each model. Models that have increased claim numbers or amounts will cost more for specific coverages.
The next table shows the insurance loss data used by companies for Audi A5 vehicles. For each insurance policy coverage type, the statistical loss for all vehicles averaged together is considered to be 100. Values under 100 are indicative of better than average losses, while values over 100 indicate more frequent claims or a tendency for losses to be larger than average.
| Vehicle Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| Audi A5 2dr 4WD | 196 | 92 | 140 | 73 | 83 | 100 |
| Audi A5 Convertible 4WD | 147 | 73 | 140 | 56 |
Empty fields indicate not enough data collected
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Determine discounts to get cheap Lexington auto insurance quotes
Companies that sell car insurance don’t list every available discount very well, so below is a list a few of the more common as well as some of the hidden credits that you can use to lower your rates.
- Sign Early and Save – Select auto insurance companies give a discount for switching to them prior to your current A5 insurance policy expiring. This discount can save up to 10%.
- Driver’s Education for Students – Teen drivers should enroll in driver’s education if offered at their school.
- Waiver for an Accident – Not necessarily a discount, but companies like Allstate, State Farm and GEICO permit an accident without getting socked with a rate hike as long as you don’t have any claims prior to being involved in the accident.
- Drive Less and Save – Fewer annual miles on your Audi can qualify you for discounted auto insurance rates on garaged vehicles.
- Club Memberships – Having an affiliation with certain professional organizations may earn a discount on your next renewal.
- Government Employee Discount – Federal government employees could cut as much as 10% off with a few auto insurance companies.
As a disclaimer on discounts, most discounts do not apply to your bottom line cost. Some only reduce the cost of specific coverages such as collision or personal injury protection. So even though you would think having all the discounts means you get insurance for free, company stockholders wouldn’t be very happy.
The chart below illustrates the difference between Audi A5 insurance costs with and without discounts. The data assumes a male driver, no violations or claims, Kentucky state minimum liability limits, full coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, multi-car, homeowner, claim-free, multi-policy, and safe-driver discounts applied.
The best auto insurance companies and their possible discounts can be found below.
- GEICO may offer discounts for defensive driver, federal employee, driver training, membership and employees, seat belt use, five-year accident-free, and good student.
- SAFECO offers premium reductions for bundle discounts, anti-lock brakes, drive less, homeowner, multi-car, and teen safe driver.
- State Farm may include discounts for passive restraint, multiple policy, accident-free, anti-theft, safe vehicle, defensive driving training, and good driver.
- MetLife has savings for accident-free, multi-policy, claim-free, good student, good driver, and defensive driver.
- 21st Century offers discounts including student driver, anti-lock brakes, driver training, homeowners, and theft prevention.
- Progressive includes discounts for continuous coverage, homeowner, multi-vehicle, online quote discount, and online signing.
If you want the cheapest Audi A5 rate quotes, ask each insurance company what discounts are available to you. Discounts might not be available to policyholders in Lexington. If you would like to see a list of insurers who offer cheap Audi A5 insurance quotes in Lexington, follow this link.
Compare prices but work with a local Lexington insurance agency
Many people would rather have an agent’s advice and that is a personal choice. Good insurance agents will help you protect your assets and help in the event of a claim. One of the best bonuses of comparing insurance online is that you can obtain lower rates but still work with a licensed agent.
To find an agent, once you fill out this simple form, your coverage information is submitted to participating agents in Lexington who will gladly provide quotes for your business. There is no need to contact any insurance agencies as quotes are delivered directly to you. If you have a need to compare prices from one company in particular, you can always find their quoting web page and fill out the quote form the provide.
Deciding on a company requires you to look at more than just the premium amount. These are some questions your agent should answer.
- Where would glass claims be handled in Lexington?
- Will high miles depreciate repair valuations?
- Can you get a list of referrals?
- Does the agent have a valid license to sell insurance in Kentucky?
- What insurance companies do they recommend if they are an independent agent?
If you prefer to buy insurance from a reliable insurance agency, it’s helpful to know the types of agencies that differ in how they can insure your vehicles. Agents in Lexington can be classified as either independent agents or exclusive agents. Both can do a good job, but it’s important to point out the difference in the companies they write for since it can impact which agent you choose.
Exclusive Agents
Exclusive insurance agents have only one company to place business with and some examples include Allstate, Farmers Insurance or State Farm. They usually cannot provide rate quotes from other companies so if the price isn’t competitive there isn’t much they can do. Exclusive agencies are very knowledgeable on their company’s products and that allows them to sell at a higher price point.
Listed below is a list of exclusive insurance agencies in Lexington who can help you get comparison quotes.
State Farm – Bob Pitman
851 Corporate Dr Ste 200 – Lexington, KY 40503 – (859) 223-1191 – View Map
Allstate Insurance: Mike Ison
2121 Richmond Rd Ste 145 – Lexington, KY 40502 – (859) 268-8850 – View Map
Allstate Insurance: Joshua Williams
2240 Executive Dr Ste 103 – Lexington, KY 40505 – (859) 243-0162 – View Map
Independent Agencies or Brokers
Independent agencies often have many company appointments so they have the ability to put coverage with an assortment of companies and find the cheapest rate. To move your coverage to a new company, the business is moved internally and you stay with the same agent.
When comparison shopping, it’s a good idea to get insurance quotes from a couple of independent agencies to get the best comparison.
Shown below are Lexington independent insurance agents that are able to give rate quotes.
Nationwide Insurance: Tim Hamilton Insurance Agency Inc
401 Lewis Hargett Cir #130 – Lexington, KY 40503 – (859) 276-1234 – View Map
Bray and Oakley Insurance Agency, Inc.
3061 Fieldstone Way – Lexington, KY 40513 – (859) 927-3743 – View Map
Al Jones Insurance Agency
274 Southland Dr, Suite #106A – Lexington, KY 40503 – (859) 276-0400 – View Map
Best car insurance in Kentucky
Selecting the top insurance provider can be challenging considering how many different insurance companies sell coverage in Kentucky. The information in the lists below could help you pick which insurers to look at shopping your coverage with.
Top 10 Lexington Car Insurance Companies Overall
- Travelers
- USAA
- AAA Insurance
- Nationwide
- Allstate
- State Farm
- The Hartford
- Safeco Insurance
- Progressive
- American Family
More effort can pay off
As you go through the steps to switch your coverage, make sure you don’t sacrifice coverage to reduce premiums. There are too many instances where drivers have reduced comprehensive coverage or liability limits to discover at claim time that it was a big error on their part. The proper strategy is to purchase plenty of coverage for the lowest price, but don’t skip important coverages to save money.
The cheapest Audi A5 insurance in Lexington can be bought from both online companies as well as from independent agents in Lexington, and you should compare price quotes from both in order to have the best chance of saving money. Some companies may not offer online rate quotes and many times these small insurance companies provide coverage only through independent insurance agents.
Helpful resources
- Credit Impacts Car Insurance Rates (State Farm)
- How Much is Car Insurance for Teachers in Lexington? (FAQ)
- Who Has Cheap Car Insurance Quotes for 17 Year Olds in Lexington? (FAQ)
- Honda warning system reduces insurance claims (Insurance Institute for Highway Safety)
- Credit and Insurance Scores (Insurance Information Institute)
- Older Driver Statistics (Insurance Information Institute)
- Insuring a Leased Car (Insurance Information Institute)