The words “low-priced” and “insurance” really shouldn’t be used in the same sentence, especially when shopping around for the best insurance rates for inexperienced drivers. Because it’s not cheap, let’s teach you some of the things that have an effect on insurance rates, and find a way to reduce the price of your next policy.
One of the more important components that are looked at to help calculate the amount you pay each year for auto insurance is where your residence is in Lexington. More populated areas tend to pay more, whereas less populated areas benefit from lower prices.
The illustration below sorts the highest-priced areas in Kentucky for inexperienced drivers to buy auto insurance in. Lexington is ranked #22 with an annual cost of $1,454 on average, which is around $121 each month.
| Rank | City | Average Per Year |
|---|---|---|
| 1 | Louisville | $2,154 |
| 2 | Frankfort | $1,795 |
| 3 | Jeffersontown | $1,736 |
| 4 | Ashland | $1,707 |
| 5 | Saint Matthews | $1,643 |
| 6 | Paducah | $1,631 |
| 7 | Madisonville | $1,600 |
| 8 | Danville | $1,596 |
| 9 | Radcliff | $1,590 |
| 10 | Murray | $1,565 |
| 11 | Elizabethtown | $1,563 |
| 12 | Georgetown | $1,536 |
| 13 | Hopkinsville | $1,523 |
| 14 | Richmond | $1,520 |
| 15 | Nicholasville | $1,519 |
| 16 | Winchester | $1,501 |
| 17 | Henderson | $1,495 |
| 18 | Covington | $1,472 |
| 19 | Florence | $1,471 |
| 20 | Independence | $1,466 |
| Compare Rates Now Go | ||
Table data uses approximated as the specific garaging location can increase or decrease prices considerably.
The vehicle you are trying to insure is a large factor when quoting low-priced coverage for inexperienced drivers. Vehicles with higher performance, poor passenger safety features, or high incidents of liability claims will cost more to insure than more modest models. The next table features insurance premiums for a handful of the most economical vehicles to buy coverage for.
| Vehicle Insured | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V LX 2WD | $991 |
| Ford Edge SE 2WD | $996 |
| Honda Odyssey LX | $1,003 |
| Toyota Prius | $1,004 |
| Honda Accord LX-P 4-Dr Sedan | $1,026 |
| Chevrolet Impala LT | $1,075 |
| Nissan Altima 2.5 4-Dr Sedan | $1,085 |
| Ford Escape Limited 4WD | $1,109 |
| Jeep Wrangler Sport Islander Package 4WD 2-Dr | $1,127 |
| Nissan Rogue S AWD | $1,152 |
| Honda Civic DX 4-Dr Sedan | $1,158 |
| Dodge Grand Caravan CV | $1,155 |
| Toyota RAV4 Limited 2WD | $1,176 |
| Ford Focus SE 4-Dr Sedan | $1,182 |
| Volkswagen Jetta 2.0T Station Wagon | $1,191 |
| Dodge Ram 3500 Crew Cab ST 2WD | $1,193 |
| Ford Explorer Eddie Bauer AWD | $1,200 |
| Chevrolet Malibu LS | $1,210 |
| Toyota Camry Hybrid | $1,230 |
| GMC Sierra SLT Crew Cab 4WD | $1,232 |
| Ford F-150 FX4 4WD | $1,236 |
| Toyota Camry SE | $1,240 |
| Toyota Tacoma X-Runner 2WD | $1,246 |
| Compare Rates Now Go | |
Data rating is based on single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Kentucky minimum liability limits. Discounts applied include multi-vehicle, safe-driver, multi-policy, claim-free, and homeowner. Premium costs do not factor in specific location information which can increase or decrease coverage rates greatly.
Based upon these rates, you can figure that cars like the Honda CR-V, Ford Edge, Honda Odyssey, and Toyota Prius will be a few of the more affordable vehicles to insure for new drivers.
Insuring your vehicle with a good quality car insurance company is difficult considering how many companies there are in Lexington. The ranking data listed below could help you decide which coverage providers you want to consider shopping your coverage with.
These rankings are only comprised of insurance companies that insure vehicles in the majority of U.S. states, so companies that have a smaller presence are not factored into this list. To view rates and find the cheapest rates for inexperienced drivers, click here.
Top 10 Large Auto Insurance Companies in Lexington Ranked by Value
- Travelers
- American Family
- AAA Insurance
- Safeco Insurance
- Progressive
- The Hartford
- Erie Insurance
- The General
- Esurance
- 21st Century
Top 10 Large Auto Insurance Companies in Lexington Ranked by Customer Service
- USAA
- Travelers
- AAA Insurance
- Nationwide
- Safeco Insurance
- Progressive
- State Farm
- The Hartford
- The General
- Esurance
Discount Lexington car insurance
Car insurance companies that offer cheap quotes for inexperienced drivers may provide premium discounts that may potentially lower prices by 40% or more if you qualify. A list of companies and a summarized list of policyholder discounts are outlined below.
- American Family has discounts for TimeAway discount, early bird, multi-vehicle, good driver, defensive driver, and air bags.
- Farm Bureau discounts include 55 and retired, multi-policy, renewal discount, youthful driver, good student, and driver training.
- State Farm may include discounts for multiple autos, good student, driver’s education, safe vehicle, and defensive driving training.
- Travelers offers premium reductions for continuous insurance, early quote, student away at school, save driver, multi-policy, and payment discounts.
- The Hartford may have discounts that include vehicle fuel type, driver training, defensive driver, air bag, bundle, and good student.
- GEICO offers discounts including good student, defensive driver, multi-policy, military active duty, and five-year accident-free.
- Progressive includes discounts for multi-policy, homeowner, online quote discount, multi-vehicle, and continuous coverage.
The diagram below visualizes the comparison of insurance costs with and without discounts applied to the policy premium. The information is based on a male driver, no claims, a clean driving record, Kentucky state minimum liability limits, full physical damage coverage, and $500 deductibles. The first bar for each age group shows the average rate with no discounts. The lower bar shows the rates with claim-free, passive restraint, multiple policy, accident-free, safe-driver, and defensive driving course discounts applied. When drivers qualify for the discounts, theaverage yearly reduction on auto insurance for inexperienced drivers is 28% or $427.
The information below demonstrates how choosing different deductibles can raise or lower insurance costs when trying to find cheap insurance for inexperienced drivers. The premium estimates are based on a married male driver, comp and collision included, and no discounts are factored in.
The data above shows that a 40-year-old driver could lower their car insurance rates by $226 a year by switching their comprehensive and collision coverages from a $100 deductible up to a $500 deductible, or save $344 by choosing a $1,000 deductible. Young drivers, such as the 20-year-old chart data, can save as much as $756 each year by using a higher deductible.
When using a larger deductible, it will be important to have enough funds in savings to enable you to pay the extra out-of-pocket expense. That is the one disadvantage of using higher deductibles.
If you would rather get some professional input when shopping for the best coverage for inexperienced drivers, the agents below can provide answers to your questions and help you determine which coverage fits your budget.
To locate a Lexington car insurance agency near you, click the button following the list.
- Carpenter-Warren Insurance Inc
271 W Short St # 304 – Lexington, KY 40507 – (859) 252-6691 - Shelter Insurance – Dawan Hart
2050 Regency Rd – Lexington, KY 40503 – (859) 276-2661 - State Farm – Bob Pitman
851 Corporate Dr Ste 200 – Lexington, KY 40503 – (859) 223-1191 - Keystone Sills Insurance Agency
210 Malabu Dr – Lexington, KY 40502 – (859) 276-1881
View more Lexington, KY insurance agencies
How to find the cheapest auto insurance for inexperienced drivers
Below you’ll find some of the better money-saving ideas that can help Lexington drivers get more affordable coverage.
- Good credit scores may make rates cheaper
- You will pay more if you get tickets or have at-fault accidents
- The safer your car, the less it costs to insure
- Assess whether full coverage is needed
- Increase physical damage deductibles
- Avoid having at-fault accidents
- Compare price quotes at least once a year
The last suggestion is very crucial, as we emphasized in the article above. Prices charged by companies vary considerably, so drivers shouldn’t be resistant to switch to a new company if a lower-cost policy is available.
Being loyal to a particular company is commendable, but we do not recommend it if your bullheadedness ends up costing you a small fortune year after year. In just a few minutes you could shop around and find cheaper insurance for inexperienced drivers in Lexington.