Finding decent, low-cost insurance is tough enough, and figuring out which companies quote the best insurance rates for safe drivers may require even more shopping around. Every insurance company has a unique approach to set policy rates, so we’ll go over the insurance companies with the most affordable rates in Lexington, KY.
Best Cheap Insurance Rates for Safe Drivers
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Cincinnati Insurance | $1,093 |
| 2 | Kentucky Farm Bureau | $1,163 |
| 3 | USAA | $1,211 |
| 4 | Auto-Owners | $1,357 |
| 5 | Motorists Mutual | $1,601 |
| 6 | Grange Mutual | $1,625 |
| 7 | Travelers | $1,631 |
| 8 | Westfield | $1,814 |
| 9 | State Farm | $1,867 |
| 10 | Safe Auto | $1,932 |
| 11 | Nationwide | $2,024 |
| 12 | Electric | $2,097 |
| 13 | Progressive | $2,140 |
| 14 | State Auto | $2,254 |
| 15 | GEICO | $2,341 |
| 16 | Encompass | $2,358 |
| 17 | Safeco | $2,791 |
| 18 | MetLife | $3,053 |
| 19 | Shelter | $3,167 |
| 20 | Liberty Mutual | $3,598 |
| Compare Rates Now Go | ||
Cincinnati Insurance generally has some of the cheapest car insurance rates in Lexington at around $1,093 a year. This is $1,050 less than the average price paid by Kentucky drivers of $2,143. Kentucky Farm Bureau, USAA, Auto-Owners, and Motorists Mutual also are some of the cheaper Lexington, KY insurance companies.
As depicted above, if you have coverage with Kentucky Farm Bureau and switched to Cincinnati Insurance, you could realize an annual premium reduction of approximately $70. Kentucky drivers with USAA might save as much as $118 a year, and Auto-Owners policyholders might reduce prices by as much as $264 a year.
To find cheaper insurance rates for your vehicle, click here to get a free quote or click through to the companies below.
Understand that those rates are averaged for all types of insureds and vehicles and do not factor in a specific location for safe drivers. So the company that is best for you may not even be in the top 21 companies in the list above. That points out the importance of why you need to get rate quotes using your own driver data and vehicle information.
The vehicle you are buying coverage for is one of the main factors when shopping around for economical coverage for safe drivers. Vehicles with lots of horsepower, poor passenger safety features, or a high likelihood of having liability claims will cost quite a bit more to insure than safer, lower-performance models. The list below ranks auto insurance prices for a selection of the most affordable automobiles to insure.
| Vehicle Insured | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V LX 4WD | $961 |
| Honda Odyssey EX-L W/Navigation | $1,045 |
| Ford Escape Limited 4WD | $1,053 |
| Toyota Corolla XLE | $1,045 |
| Nissan Rogue SL 2WD | $1,065 |
| Chevrolet Silverado LTZ Crew Cab 4WD | $1,071 |
| Dodge Grand Caravan CV | $1,080 |
| Jeep Wrangler Sahara 4WD 2-Dr | $1,085 |
| Ford Focus SES 2-Dr Coupe | $1,115 |
| GMC Sierra 2500HD SLT Crew Cab 4WD | $1,117 |
| Toyota RAV4 4WD | $1,140 |
| Nissan Altima 2.5 4-Dr Sedan | $1,147 |
| Toyota Prius | $1,146 |
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Data variables include single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Kentucky minimum liability limits. Discounts applied include safe-driver, multi-policy, homeowner, multi-vehicle, and claim-free. Price information does not factor in specific Lexington, KY garaging location which can lower or raise prices greatly.
By looking at the data, makes and models like the Honda CR-V, Honda Odyssey, Ford Escape, Toyota Corolla, and Nissan Rogue will definitely be the more affordable vehicles to insure for good drivers.
Discount Lexington insurance
Auto insurance companies that provide coverage for safe drivers may have premium discounts that can reduce rates by as much as 35% or more if you meet specific criteria. A list of insurance companies and a partial list of their discounts are outlined below.
- Farm Bureau may include discounts for safe driver, renewal discount, driver training, multi-vehicle, and multi-policy.
- MetLife has discounts for defensive driver, good driver, multi-policy, good student, claim-free, accident-free
- Progressive includes discounts for online quote discount, multi-vehicle, good student, online signing, continuous coverage, homeowner, and multi-policy.
- AAA offers premium reductions for education and occupation, AAA membership discount, multi-car, pay-in-full, good driver, multi-policy, and anti-theft.
- American Family offers discounts including accident-free, defensive driver, bundled insurance, mySafetyValet, and good student.
- GEICO may offer discounts for membership and employees, good student, military active duty, anti-theft, driver training, multi-vehicle, and daytime running lights.
- State Farm has savings for good student, passive restraint, multiple autos, driver’s education, and defensive driving training.
The illustration below illustrates the difference between auto insurance rates with and without some available policy discounts. The premium estimates are based on a male driver, no claims or violations, Kentucky state minimum liability limits, full physical damage coverage, and $250 deductibles.
The first bar for each age group shows the average annual price with no discounts. The second bar shows the rates with marriage, claim-free, safe-driver, multiple vehicle, multiple policy, and accident-free discounts applied. In this example, theaverage yearly reduction on insurance for safe drivers is 28% or $639.
Do you need full coverage?
Paying less for insurance is probably important to the majority of drivers, and one good way to pay lower rates for insurance for safe drivers is to buy liability only. The chart below shows the comparison of insurance costs when comparing full coverage to liability only. The information is based on no accidents, no driving violations, $100 deductibles, single status, and no discounts are taken into consideration.
As an average, physical damage coverage on your policy costs $2,086 per year over and above liability only. A very common question is when is the right time to remove full coverage. There is no written rule for phasing out comprehensive and collision coverage on your policy, but there is a broad guideline. If the yearly cost for physical damage coverage is 10% or more of replacement cost minus your deductible, then it could be time to drop full coverage.
There are a few situations where buying only liability insurance is not financially feasible. If you still owe a portion of the original loan, you must maintain physical damage coverage as part of the loan conditions. Also, if your savings is not enough to buy a different vehicle if your current one is damaged, you should maintain full coverage.
The example below illustrates how your choice of deductibles can influence yearly insurance costs when getting quotes for cheap insurance for safe drivers. The data assumes a married male driver, full physical damage coverage, and no discounts are applied.
A 50-year-old driver could lower their car insurance rates by $306 a year by increasing from a $100 deductible to a $500 deductible, or save $462 by changing to a $1,000 deductible. Even younger insureds, like the 20-year-old category, have the ability to save as much as $1,034 or more by choosing a larger deductible amount. If you do raise deductibles, it’s a good idea to have enough in a savings account to allow you to cover the extra out-of-pocket expense. That is the one drawback of using higher deductibles.
How to find cheaper auto insurance for safe drivers
Below you’ll find a few thrifty solutions that can help Lexington drivers find cheap coverage.
- Raise your physical damage coverage deductibles
- Good credit scores may make rates cheaper
- Maintain a clean driving record
- Maintain a safe distance and avoid accidents
- Buy a safer vehicle
- Compare prices frequently to find the best deal
The last tip in the list is extraordinarily significant, as we noted in the prior information. Insurance prices fluctuate constantly, so drivers shouldn’t be reluctant to change insurance companies if a lower-cost policy is available.
Having brand loyalty is commendable, but it’s not a great idea if that inflexibility results in costing you a wad of cash every year. If you have a few minutes, now is a great time to shop around and find cheaper car insurance for safe drivers in Lexington.
The professional agents shown below are a good start to help you make a decision which coverages and limits you need, as some people have coverage questions and would like to get some help when comparing insurance rates for safe drivers. It can be challenging to find the cheapest car insurance policy, so getting advice from a licensed agent can provide peace of mind knowing you have sufficient protection if you have a claim. To find a Lexington insurance agency in your neighborhood, click the link after the list.
- Neely Taylor-Wade Insurance
133 Walton Ave – Lexington, KY 40508 – (859) 233-7855 - Howard Shelton State Farm
2614 Richmond Road – Lexington, KY 40509 – (859) 266-6640 - Allstate Insurance: Tom Barrick
2891 Richmond Rd Ste 115 – Lexington, KY 40509 – (859) 268-3222 - Wallace Barber – State Farm Insurance Agent
340 E New Cir Rd #120 – Lexington, KY 40505 – (859) 543-0300 - Nationwide Insurance: Turner Ins Group LLC
3320 Clays Mill Rd #211 – Lexington, KY 40503 – (859) 219-0972