Cheapest Quotes for Kia Rio Insurance in Lexington

If your goal is the lowest price, then the best way to find more affordable car insurance rates in Lexington is to start comparing prices yearly from companies in Kentucky. Prices can be compared by following these steps.

1. Read about how car insurance works and the factors you can control to prevent rate increases. Many policy risk factors that increase rates such as traffic citations, accidents, and an unacceptable credit history can be controlled by making lifestyle changes or driving safer.
2. Compare prices from direct carriers, independent agents, and exclusive agents. Exclusive and direct companies can provide rates from one company like Progressive or Farmers Insurance, while independent agencies can provide prices for a wide range of insurance providers.
3. Compare the new rate quotes to your existing coverage to see if a cheaper price is available. If you find a better price and change companies, make sure coverage is continuous and does not lapse.
4. Give notification to your current company of your intention to cancel the current policy. Submit the application along with any required down payment for your new policy. As soon as you can, place your new proof of insurance paperwork above your visor, in the console, or in the glove compartment.

A key point to remember is that you’ll want to make sure you compare similar deductibles and liability limits on every price quote and and to get rates from as many companies as possible. This provides an apples-to-apples comparison and a complete price analysis.

It’s safe to assume that car insurance companies don’t want customers comparing rates. Drivers who shop around for cheaper prices will presumably move their business because of the high probability of finding a more affordable policy premium. A recent survey found that consumers who compared rates regularly saved on average $3,400 over four years compared to other drivers who never shopped around for better prices.

If finding budget-friendly rates on Kia Rio insurance in Lexington is the reason for your visit, then learning about how to shop for insurance premiums can save money and time.

If you have coverage now or just want a better rate, use these techniques to shop for the lowest rates and possibly find even better coverage. Choosing the best rates in Lexington is actually quite simple. You just need to use the best way to quote multiple rates from multiple carriers.

The most recommended method to get rate comparisons for Kia Rio insurance in Lexington is to understand most larger insurance companies will pay a fee to quote your coverage. To get started, all you need to do is give them rating details such as whether you are single or married, whether you have decent credit, the year, make and model of vehicles, and how much coverage you want. Your insurance information is submitted instantly to all major companies and you will get price comparisons very quickly.

If you would like to compare rates now, click here and enter your coverage details.

The following companies are ready to provide free quotes in Lexington, KY. If your goal is to find cheap auto insurance in KY, we recommend you visit two to three different companies to get a more complete price comparison.

Auto insurance analysis for a Kia Rio

The data table shown below highlights detailed analysis of policy rates for Kia Rio models. Learning a little about how rates are formulated can help drivers make decisions on the best policy to buy.

Data rating is based on married female driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Kentucky minimum liability limits. Discounts applied include claim-free, safe-driver, multi-policy, multi-vehicle, and homeowner. Premium costs do not factor in garaging location in Lexington which can impact insurance rates substantially.

Higher deductibles lower rates

One of the more difficult decisions when buying auto insurance is where should you set your physical damage deductibles. The comparisons below may help you to understand the rate fluctuation between high and low comp and collision deductibles. The first rate table uses a $250 physical damage coverage deductible and the second price grid uses a $500 deductible.

Price data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Kentucky minimum liability limits. Discounts applied include multi-policy, safe-driver, multi-vehicle, homeowner, and claim-free. Rates do not factor in specific zip code location which can influence premiums considerably.

Based on the figures above, using a $250 deductible costs roughly $13 more each month or $156 annually than buying the higher $500 deductible. Since you would pay $250 more if you file a claim with a $500 deductible as compared to a $250 deductible, if you normally go at least 19 months between claims, you would save money if you opt for a higher deductible.

The diagram below highlights how deductible selection and can increase or decrease Kia Rio yearly insurance costs for different insured age categories. The information is based on a married female driver, full coverage, and no discounts are applied to the premium.

Liability only or full coverage

The illustration below compares Kia Rio yearly insurance costs with liability coverage only compared to full coverage. The premiums are based on no accidents, no driving violations, $250 deductibles, single status, and no other discounts are factored in.

When to eliminate full coverage

There is no clear-cut rule for phasing out physical damage insurance, but there is a general guideline. If the annual cost of your full coverage insurance is about 10% or more of replacement cost minus your deductible, then you may want to consider only buying liability coverage.

For example, let’s say your Kia Rio replacement cost is $6,000 and you have $1,000 deductibles. If your vehicle is severely damaged, the most your company would pay you is $5,000 after paying the physical damage deductible. If premium cost is more than $500 a year for physical damage coverage, then it might be time to consider dropping full coverage.

There are some situations where eliminating full coverage is not in your best interest. If you still owe money on your vehicle, you have to maintain full coverage as part of the loan conditions. Also, if your savings is not enough to buy a different vehicle in the even your car is totaled, you should keep full coverage on your policy.

Check for these price cutting discounts

Car insurance companies don’t list all their discounts very clearly, so the following list contains some of the more common and the more hidden ways to save on auto insurance. If they aren’t giving you every credit you qualify for, you’re paying more than you need to.

• Renewal Discounts – Some insurance companies give discounts for switching policies prior to the expiration date on your current Rio insurance policy. Ten percent is about the average savings.
• Accident Free – Lexington drivers who stay claim-free have much lower rates in comparison to policyholders that have many claims.
• Driver Education Discount – Reduce the cost of insurance for teen drivers by having them participate in a local driver’s education class in school.
• Employee of Federal Government – Having worked for a branch of the government could cut as much as 10% off with certain companies.
• 55 and Retired – Drivers over the age of 55 may be able to get a small decrease in premiums.
• No Charge for an Accident – This one is not really a discount per se, but a few companies such as Progressive, Allstate, and GEICO will turn a blind eye to one accident without raising rates if your claims history is clear prior to the accident.
• Passenger Safety Discount – Vehicles with factory air bags or automatic seat belts could see savings of 25 to 30%.

A quick disclaimer, most credits do not apply to the entire policy premium. Most only apply to individual premiums such as medical payments or collision. If you do the math and it seems like you could get a free auto insurance policy, auto insurance companies aren’t that generous.

The diagram below shows the comparison of Kia Rio insurance costs with and without discounts being applied to the rates. Data assumes a male driver, no violations or claims, Kentucky state minimum liability limits, full coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, marriage, safe-driver, claim-free, multi-car, and homeowner discounts applied.

For a list of insurance companies that offer some of these discounts in Kentucky, click here to view.

It may be expensive, but it’s not optional

Despite the high cost, insuring your vehicle is required in Kentucky but also provides important benefits.

First, most states have minimum mandated liability insurance limits which means the state requires a specific minimum amount of liability protection in order to drive the car. 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.

Second, if your Rio has a lienholder, it’s guaranteed your bank will stipulate that you have full coverage to ensure the loan is repaid in case of a total loss. If you do not pay your insurance premiums, the bank or lender will purchase a policy for your Kia at a more expensive rate and force you to pay a much higher amount than you were paying before.

Third, auto insurance preserves both your vehicle and your personal assets. It will also reimburse you for medical expenses that are the result of an accident. One of the most valuable coverages, liability insurance, also pays expenses related to your legal defense in the event you are sued. If you receive damage to your vehicle caused by a storm or accident, comprehensive and/or collision insurance will cover the repair costs.

The benefits of buying enough insurance definitely exceed the price paid, particularly for liability claims. The average driver in America is currently overpaying as much as $865 each year so shop around at least once a year to make sure the price is not too high.

How to find a good Kentucky auto insurance company

Choosing the top car insurance provider is difficult considering how many companies there are to choose from in Lexington. The company information in the next section may help you decide which insurers you want to consider when comparing rates.

Top 10 Lexington Car Insurance Companies Ranked by Customer Service

1. USAA
2. Travelers
3. AAA Insurance
4. Nationwide
5. Safeco Insurance
6. Progressive
7. State Farm
8. The Hartford
9. The General
10. Esurance

Top 10 Lexington Car Insurance Companies Overall

1. Travelers
2. USAA
3. AAA Insurance
4. Nationwide
5. Allstate
6. State Farm
7. The Hartford
8. Safeco Insurance
9. Progressive
10. American Family

Do I just need basic coverages?

When buying your policy, there isn’t really a cookie cutter policy. Your situation is unique.

Here are some questions about coverages that could help you determine whether or not you would benefit from professional advice.

• Which is better, split liability limits or combined limits?
• Do I have any recourse if my insurance company denies a claim?
• Do they offer discounts for home and auto coverage?
• Am I covered when driving in Canada or Mexico?
• Do I need replacement cost coverage?
• Is business property covered if stolen from my car?
• Do I need roadside assistance coverage?
• Should I buy only the required Kentucky minimum liability coverage?
• Can I afford low physical damage deductibles?
• Does car insurance cover theft of personal property?

If you don’t know the answers to these questions but you think they might apply to your situation, you may need to chat with an agent. If you don’t have a local agent, fill out this quick form. It’s fast, free and can provide invaluable advice.

When to contact a local insurance agent

Many drivers still prefer to buy from a licensed agent and that can be a great decision Agents are highly skilled in risk management and help you file claims. An additional benefit of comparing rate quotes online is you may find lower rates and still have an agent to talk to. Buying from and supporting local insurance agencies is important particularly in Lexington.

To find an agent, once you fill out this quick form, the quote information is instantly submitted to companies in Lexington that can give you free Lexington auto insurance quotes and help you find cheaper coverage. There is no need to find an agent since price quotes are sent immediately to you. If you want to get a comparison quote from a specific car insurance provider, you would need to visit that company’s website and fill out their quote form.

Lexington car insurance agents are either independent or exclusive

If you want to use a local agent, it can be helpful to understand the different types of agents and how they operate. Lexington agents are considered either exclusive or independent agents depending on their company appointments. Both can insure your vehicles, but it is a good idea to know why they differ because it can impact which agent you choose.

Independent Insurance Agents

Independent agents often have affiliation with several companies and that is an advantage because they can write policies through lots of different companies and potentially find a lower price. If your agent finds better pricing, they simply move your policy to a different company and you can keep the same agent.

When comparing rates, we highly recommend that you get quotes from a couple of independent agencies so that you have a good selection of quotes to compare.

Below are Lexington independent agents that can possibly get you cheap rate quotes.

More Lexington agents

Exclusive Insurance Agents

These type of agents can only write with one company such as Allstate, Farmers Insurance or State Farm. Exclusive agents are unable to provide other company’s prices so if the price isn’t competitive there isn’t much they can do. Exclusive agents are well schooled on their company’s products which aids in selling service over price.

Shown below is a list of exclusive insurance agencies in Lexington that can give you rate quotes.

More Lexington agents

Picking an insurance agent is decision based upon more than just a low price. These are some questions you should get answers to.

• Do the companies they represent have a solid financial rating?
• Can glass claims be handled at your home?
• Do they offer rental car reimbursement?
• Can you use your own choice of collision repair facility?
• Do they offer accident forgiveness?
• Do they review policy coverages at every renewal?

If you feel you receive acceptable answers for all questions you ask and a low price estimate, it’s a good possibility that you have found an insurance agency that meets your needs to service your policy.