For teen drivers, one of the more important things that aid in calculating the amount you pay each year for auto insurance is where your car is garaged in Lexington. Larger areas will most likely pay more, whereas areas with less crime or weather claims have the benefit of cheaper car insurance.
The information below shows the highest-priced areas in Kentucky for 18 year olds to purchase a policy in. Lexington is listed at #18 having an annual price of $1,469 for car insurance, which is about $122 monthly.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Louisville | $2,090 |
| 2 | Frankfort | $1,742 |
| 3 | Jeffersontown | $1,736 |
| 4 | Saint Matthews | $1,660 |
| 5 | Ashland | $1,656 |
| 6 | Paducah | $1,647 |
| 7 | Radcliff | $1,638 |
| 8 | Madisonville | $1,616 |
| 9 | Elizabethtown | $1,611 |
| 10 | Murray | $1,597 |
| 11 | Henderson | $1,557 |
| 12 | Danville | $1,534 |
| 13 | Covington | $1,532 |
| 14 | Richmond | $1,520 |
| 15 | Winchester | $1,517 |
| 16 | Georgetown | $1,491 |
| 17 | Hopkinsville | $1,478 |
| 18 | Lexington | $1,469 |
| 19 | Nicholasville | $1,459 |
| 20 | Fort Thomas | $1,440 |
| 21 | Independence | $1,436 |
| 22 | Owensboro | $1,432 |
| 23 | Florence | $1,427 |
| 24 | Erlanger | $1,420 |
| 25 | Bowling Green | $1,418 |
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Rate information is comparative as the specific Lexington residence address can alter insurance rates significantly.
The vehicle model that is being insured is a significant factor that determines if you can find the best car insurance for 18 year olds. Vehicles with reasonable performance levels, a plethora of safety features, or a low likelihood of liability claims will cost much less to insure than higher performance models.
The next list ranks insurance rates for a number of the most cost-effective vehicles to insure.
| Vehicle Insured | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V EX 2WD | $2,778 |
| Honda Accord LX-P 4-Dr Sedan | $2,784 |
| Ford Escape XLT 4WD | $2,810 |
| Toyota Prius | $3,025 |
| Ford Edge SE 2WD | $3,080 |
| Dodge Grand Caravan CV | $3,111 |
| Jeep Grand Cherokee Laredo 4WD | $3,297 |
| Nissan Altima 2.5 4-Dr Sedan | $3,304 |
| Chevrolet Impala LT | $3,297 |
| Toyota Tacoma Double Cab 4WD | $3,305 |
| Chevrolet Equinox LT AWD | $3,297 |
| Toyota RAV4 Limited 4WD | $3,307 |
| Ford Explorer Limited 4WD | $3,326 |
| Jeep Wrangler Unlimited Sahara 2WD 4-Dr | $3,425 |
| Toyota Camry XLE | $3,485 |
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Price data assumes single female driver age 18, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Kentucky minimum liability limits. Discounts applied include safe-driver, and claim-free. Information does not factor in specific location which can influence coverage prices greatly.
Based upon these rates, you can expect cars like the Honda CR-V, Honda Accord, Ford Escape, Toyota Prius, and Ford Edge are most likely going to be the cheapest vehicles to insure for teen drivers. The price for car insurance will be more costly just due to the fact that there is more exposure for 18 year olds, but in general those specific models will tend to have the cheapest auto insurance rates that you are likely to find.
Irresponsible driving raises your rates
The best way to receive the most affordable auto insurance prices in Kentucky for teen drivers is to be a good driver and avoid accidents and traffic citations. The illustration below shows how speeding tickets and at-fault accidents impact auto insurance rates for different categories of driver ages. The costs are based on a married female driver, full coverage, $250 deductibles, and no discounts are applied to the premium.
The data charted above shows the average cost of auto insurance per year with no accidents or violations is $1,325. Add in two speeding tickets and the average cost surges to $1,881, an increase of $556 each year. Then add one accident along with the two speeding tickets and the annual cost of auto insurance for 18 year olds goes up to an average of $2,436. That’s an increase of $1,111, or $93 per month, just for not driving attentively!
The chart below highlights how deductible selection can change yearly insurance costs when trying to find cheap insurance for 18 year olds. Data assumes a married female driver, comprehensive and collision coverage, and no discounts are applied to the premium.
A 40-year-old driver could lower rates by $266 a year by changing from a $100 deductible up to a $500 deductible, or save $402 by using a $1,000 deductible. Even younger insureds, like the 20-year-old, could save up to $662 or even more by choosing a higher deductible. When increasing deductibles, it will now be necessary to have enough savings to enable you to pay the extra out-of-pocket expense, which is the main drawback of higher deductibles.
Are you paying too much for car insurance in Lexington?
Lexington, KY auto insurance rates are based on many factors that may substantially change the policy premium. Improving your credit score, buying higher coverage limits, or getting a ticket for running a stop sign may cause policy rate changes that can cause some rates to be affordable when they were higher priced.
And not only may your rating factors change, but companies amend premium rates at least once a year to adjust for unexpected claims or profits. Heavy losses may result in increased policy costs, while lower claims may result in cheaper Lexington car insurance rates.
To illustrate this example, the chart below demonstrates which company has the cheapest car insurance in Lexington, KY for a 40-year-old female driver with no prior claims, no tickets, and great credit. If we estimate rates based on her personal risk profile, Cincinnati Insurance may have the lowest car insurance rates in Lexington at $1,143 annually. This is $1,000 less than the average price paid by Kentucky drivers of $2,143. Kentucky Farm Bureau, USAA, Auto-Owners, and Motorists Mutual are also on the list of the cheapest Lexington, KY auto insurance companies.
The example below compares rates after we give the driver in the first chart an at-fault accident, slightly worse credit, and a couple of points charged on her driving record. Due to the fact that every insurance company has a proprietary formula to determine rates, comparing rates may now show a different ranking of the cheapest Lexington car insurance companies as shown below.
Kentucky Farm Bureau now has the cheapest car insurance in Lexington with Travelers, USAA, Westfield, and State Farm now rounding out the top five. This example proves why it is crucial to shop around with many companies to get the lowest insurance quotes for 18 year olds. Rates are impacted by many factors and can change substantially, so the best company a year ago may now be wasting a lot of money.
If you have questions and prefer to get some professional input when shopping for the best coverage for 18 year olds, the agents shown below can help you decide which coverages you need.
To find an auto insurance agency nearest to you, click the button following the list or click here to get price quotes now.
- Bob Pugh – State Farm Insurance Agent
828 Lane Allen Rd #251 – Lexington, KY 40504 – (859) 276-4421 - Triad Insurance Agency, Inc.
1216 S Broadway – Lexington, KY 40504 – (859) 255-0806 - Allstate Insurance: Joshua Williams
2240 Executive Dr Ste 103 – Lexington, KY 40505 – (859) 243-0162