It’s shocking but over 70% of Kentucky drivers have bought insurance from the same company for more than four years, and roughly 40% of drivers have never compared rates from other carriers. Many consumers in the U.S. can save hundreds of dollars each year by just comparing rate quotes, but they don’t understand how simple it is to shop around.
To save the most money, the best way to find cheaper prices for Jaguar XK insurance in Lexington is to start comparing prices yearly from insurers that insure vehicles in Kentucky. Drivers can shop around by completing these steps.
- First, gain an understanding of what is in your policy and the things you can change to drop your rates. Many rating factors that cause rate increases such as tickets, at-fault accidents, and a less-than-favorable credit score can be controlled by paying attention to minor details.
- Second, compare price quotes from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can give quotes from one company like GEICO and Allstate, while agents who are independent can quote rates from multiple sources. View companies
- Third, compare the new rates to the price on your current policy to determine if switching companies saves money. If you find a lower rate and buy the policy, make sure the effective date of the new policy is the same as the expiration date of the old one.
- Fourth, notify your current company of your decision to cancel your current policy and submit a down payment and signed policy application for the new policy. When you receive it, put the proof of insurance certificate in your vehicle’s glove compartment or console.
The key aspect of shopping around is that you use identical coverages on each quote request and and to get prices from every company you can. Doing this helps ensure a fair rate comparison and a thorough selection of prices.
Most companies allow you to get coverage prices online. The process doesn’t take a lot of time as you simply type in your coverage information into a form. Once you submit the form, the quote system sends out for reports for credit and driving violations and gives you a price quote determined by many factors.
This makes it simple to compare prices and it is important to have as many quotes as possible in order to find cheap auto insurance pricing.
To save time and find out if lower rates are available, compare rate quotes from the providers shown below. If you have a policy now, it’s recommended you input the insurance coverages as shown on your current policy. This ensures you are getting a rate comparison for similar insurance coverage.
The companies shown below offer price comparisons in Lexington, KY. If multiple companies are listed, it’s a good idea that you visit as many as you can to get a more complete price comparison.
Car insurance data for a Jaguar XK
The price information shown below showcases estimates of insurance rates for Jaguar XK models. Being more informed about how insurance premiums are formulated can aid in making smart choices when comparing insurance quotes.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| XK Portfolio 2-Dr Coupe | $420 | $966 | $286 | $16 | $86 | $1,774 | $148 |
| XK 2-Dr Coupe | $420 | $966 | $286 | $16 | $86 | $1,774 | $148 |
| XK Portfolio 2-Dr Convertible | $454 | $882 | $336 | $20 | $100 | $1,792 | $149 |
| XK 2-Dr Convertible | $454 | $882 | $336 | $20 | $100 | $1,792 | $149 |
| Get Your Own Custom Quote Go | |||||||
Above prices assume married male driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Kentucky minimum liability limits. Discounts applied include claim-free, multi-policy, multi-vehicle, safe-driver, and homeowner. Price information does not factor in specific zip code location which can revise insurance rates considerably.
Car insurance deductibles
One frequently asked question is how high should your deductibles be. The following tables may aid in understanding how much more you’ll pay when you buy lower versus higher physical damage deductibles. The first rate estimation uses a $100 physical damage coverage deductible and the second price chart uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| XK Portfolio 2-Dr Coupe | $462 | $1050 | $278 | $16 | $84 | $1,915 | $160 |
| XK 2-Dr Coupe | $462 | $1050 | $278 | $16 | $84 | $1,915 | $160 |
| XK Portfolio 2-Dr Convertible | $498 | $960 | $326 | $20 | $98 | $1,927 | $161 |
| XK 2-Dr Convertible | $498 | $960 | $326 | $20 | $98 | $1,927 | $161 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| XK Portfolio 2-Dr Coupe | $256 | $554 | $278 | $16 | $84 | $1,188 | $99 |
| XK 2-Dr Coupe | $256 | $554 | $278 | $16 | $84 | $1,188 | $99 |
| XK Portfolio 2-Dr Convertible | $276 | $506 | $326 | $20 | $98 | $1,226 | $102 |
| XK 2-Dr Convertible | $276 | $506 | $326 | $20 | $98 | $1,226 | $102 |
| Get Your Own Custom Quote Go | |||||||
Prices above based on married male driver age 30, no speeding tickets, no at-fault accidents, and Kentucky minimum liability limits. Discounts applied include multi-vehicle, homeowner, multi-policy, safe-driver, and claim-free. Table data does not factor in specific garaging location which can change premium rates considerably.
Based on this data, using a $100 deductible costs about $60 more each month or $720 annually across all Jaguar XK models than choosing the higher $1,000 deductible. Due to the fact that you would have to pay $900 more if you turn in a claim with a $1,000 deductible as compared to a $100 deductible, if you usually have at a minimum 15 months between claims, you would save more money by going with a higher deductible. Below is how you can do this calculation yourself.
| Average monthly premium for $100 deductibles: | $161 |
| Average monthly premium for $1,000 deductibles (subtract): | – $101 |
| Monthly savings from raising deductible: | $60 |
| Difference between deductibles ($1,000 – $100): | $900 |
| Divide difference by monthly savings: | $900 / $60 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 15 months |
Driving violations and accidents
The example below shows how speeding tickets and accident claims can drive up Jaguar XK car insurance rates for different insured age categories. The premiums are based on a single male driver, full coverage, $500 deductibles, and no additional discounts are factored in.
Impact of age and gender on car insurance rates
The example below shows the comparison of Jaguar XK annual premium costs for male and female drivers. The premium estimates are based on no violations or accidents, full coverage, $100 deductibles, drivers are single, and no additional discounts are factored in.
You may qualify for discounts for Jaguar XK insurance in Lexington
Car insurance is not an enjoyable expense, but there could be available discounts to cut the cost considerably. Many of these discounts will be applied automatically at quote time, but some may not be applied and must be asked for in order for you to get them.
- Telematics Discount – Drivers that enable their insurance company to track driving patterns by installing a telematics device such as Progressive’s Snapshot might see lower rates if they exhibit good driving behavior.
- Driver’s Education for Students – Teen drivers should participate in a local driver’s education class if offered at their school.
- Theft Deterrent System – Vehicles that have factory anti-theft systems have a lower chance of being stolen and can earn a small discount on your policy.
- Own a Home and Save – Just owning your own home can save you money because maintaining a house requires personal responsibility.
- Student Discounts – Performing well in school can get you a discount of up to 25%. This discount can apply up until you turn 25.
- Distant Student Discount – Youth drivers who are enrolled in higher education away from home and don’t have a car may be insured at a cheaper rate.
- Accident-Free Discounts – Lexington drivers who stay claim-free get the best car insurance rates as opposed to drivers who are more careless.
- Sign Early and Save – A few larger companies offer discounts for buying a policy prior to your current XK insurance policy expiring. This can save 10% or more.
While discounts sound great, it’s important to understand that most discounts do not apply to the entire policy premium. Some only apply to the price of certain insurance coverages like liability, collision or medical payments. Just because it seems like you can get free auto insurance, companies wouldn’t make money that way.
The example below illustrates the comparison of Jaguar XK car insurance rates with and without discounts applied to the policy rates. The information is based on a male driver, no tickets, no at-fault accidents, Kentucky state minimum liability limits, full physical damage coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, multi-policy, homeowner, safe-driver, multi-car, and marriage discounts applied.
If you would like to view companies that offer some of these discounts in Lexington, follow this link.
Best reasons to buy car insurance in Kentucky
Even though Lexington XK insurance rates can get expensive, buying car insurance is a good idea for several reasons.
First, almost all states have mandatory liability insurance requirements which means state laws require a specific level of liability insurance in order to get the vehicle licensed. 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 you took out a loan on your car, almost every bank will require that you have insurance to guarantee payment of the loan. If you cancel or allow the policy to lapse, the bank may insure your Jaguar at an extremely high rate and make you pay for the expensive policy.
Third, car insurance preserves both your Jaguar and your assets. Insurance will pay for medical bills for yourself as well as anyone injured by you. Liability insurance, one of your policy coverages, will also pay for a defense attorney if you cause an accident and are sued. If your car is damaged in a storm or accident, collision and comprehensive (also known as other-than-collision) coverage will pay to repair the damage.
The benefits of carrying enough insurance greatly outweigh the cost, especially for larger claims. An average driver in America is currently overpaying as much as $700 annually so it’s recommended you shop around at least once a year to help ensure money is not being wasted.
You may need advice from a local insurance agent
Many people would prefer to get professional advice from a licensed agent and often times that is recommended One of the best bonuses of comparing rate quotes online is you may find the lowest rates and also buy local. Putting coverage with local insurance agents is important especially in Lexington.
After filling out this simple form, your coverage information is immediately sent to local insurance agents in Lexington who will give competitive quotes to get your business. You don’t have to visit any agencies due to the fact that quote results will go to you. You can get cheaper auto insurance rates AND a local agent. In the event you want to compare rates from a specific company, you would need to jump over to their website and submit a quote form there.
When researching local Lexington agents, you should know the types of agencies and how they work. Auto insurance agencies can either be exclusive or independent agents depending on their company appointments.
Independent Auto Insurance Agencies
Agents in the independent channel are normally appointed by many insurers so they can insure your vehicles through many companies enabling the ability to shop coverage around. To transfer your coverage to a different company, your agent can switch companies which requires no work on your part. If you need lower rates, you should always compare quotes from a few independent agents to ensure the widest selection of prices. They also have the ability to place coverage with companies you’ve never heard of which may have better rates.
Shown below are independent agencies in Lexington that can possibly get you free auto insurance rate quotes.
- KY Insurance and Investment Grp
3320 Clays Mill Rd Suite 214 – Lexington, KY 40503 – (859) 224-0316 – View Map - Nicole Wright Insurance Agency
169 E Reynolds Rd #102 – Lexington, KY 40517 – (859) 971-0221 – View Map - Triad Insurance Agency, Inc.
1216 S Broadway – Lexington, KY 40504 – (859) 255-0806 – View Map
Exclusive Insurance Agencies
These agents can only place business with one company and some examples include AAA, Allstate, and State Farm. Exclusive agents cannot compare other company’s rates so you might not find the best rates. Exclusive agencies are well schooled in insurance sales and that enables them to sell even at higher rates. Some insured continue to use the same exclusive agent partially due to the brand and the convenience of having a single billing for all their coverages.
Shown below are Lexington exclusive agencies that can give you comparison quotes.
- David Lovejoy – State Farm Insurance Agent
125 Towne Center Dr #125 – Lexington, KY 40511 – (859) 266-2121 – View Map - GEICO Insurance Agent
3100 Old Todds Rd #110 – Lexington, KY 40509 – (859) 286-8655 – View Map - Jeff Briggs – State Farm Insurance Agent
449 Lewis Hargett Cir #150 – Lexington, KY 40503 – (859) 273-8512 – View Map
Finding a good car insurance agent is decision based upon more than just a cheap price. Get answers to these questions too.
- What kind of financial rating does the company have?
- Do they specialize in personal lines coverage in Lexington?
- Can glass repairs be made at your home?
- What company holds the largest book of business for them?
- How many years of experience in personal auto insurance do they have?
- Does the agent help file claims?
- What are their preferred companies if they are an independent agency?
After getting reasonable responses to your questions and an acceptable price quote, you may have just found an auto insurance agent that meets your needs to service your policy. But remember, it’s your coverage and you can terminate coverage when you choose so never assume that you are permanently stuck with a specific agent for the full policy term.