Wouldn’t it be perfect if we could just tell you the best company that has the cheapest insurance for safe drivers? Unfortunately, it’s not that simple as there are a whole bunch of unknown factors like the level of liability coverage you want, how many years you have been driving, and whether you are female or male, that all go into determining the rate you pay. This article will cover these topics and also should give you a good start in finding the cheapest car insurance in Louisville.
One of the more important factors that determine insurance cost is the neighborhood you call home in Louisville. Cities with larger populations or higher claim trends tend to pay more, whereas areas with lower crime rates and fewer weather claims can boast about having cheaper rates.
The next table shows the most costly cities in Kentucky for safe drivers to buy auto insurance in. Louisville makes the list at #1 having an annual price of $2,112 on average, which is around $176 each month.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | Louisville | $2,112 |
| 2 | Frankfort | $1,742 |
| 3 | Jeffersontown | $1,719 |
| 4 | Saint Matthews | $1,711 |
| 5 | Ashland | $1,707 |
| 6 | Elizabethtown | $1,611 |
| 7 | Radcliff | $1,606 |
| 8 | Madisonville | $1,600 |
| 9 | Paducah | $1,599 |
| 10 | Danville | $1,581 |
| 11 | Murray | $1,565 |
| 12 | Georgetown | $1,536 |
| 13 | Richmond | $1,520 |
| 14 | Winchester | $1,517 |
| 15 | Henderson | $1,511 |
| 16 | Lexington | $1,499 |
| 17 | Hopkinsville | $1,478 |
| 18 | Covington | $1,472 |
| 19 | Bowling Green | $1,461 |
| 20 | Nicholasville | $1,459 |
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Price information shown is comparative as the specific geographic location can impact premiums substantially.
Establishing which companies have the cheapest auto insurance rates for safe drivers involves a bit more effort in order to find the best policy. Every insurance provider has a different formula for determining rates in each state, so let’s take a look at the auto insurance companies with the most affordable rates in Kentucky.
It’s important that readers know that Kentucky auto insurance rates are impacted by many things which can substantially decrease or increase the price of coverage. Improving your credit score, having a teenage driver, or getting a speeding ticket can trigger changes in premium that can make some companies much cheaper than others.
Find the Cheapest Car Insurance for Safe Drivers
Cincinnati Insurance generally has some of the best car insurance rates in Louisville at around $1,093 each year. Kentucky Farm Bureau, USAA, Auto-Owners, and Motorists Mutual also make the cut as some of the lowest-priced Louisville, KY car insurance companies.
As depicted above, if you buy coverage from USAA and switched to Cincinnati Insurance, you could see an annual premium reduction of around $130. Policyholders with Auto-Owners may save as much as $278 a year, and Motorists Mutual insureds might reduce rates by $460 a year.
Remember that these policy rates are averaged across all types of drivers and the different vehicles they drive and and are not calculated with an exact vehicle garaging location for safe drivers. So the company that is best for you may not even be in the top 21 companies shown above. That emphasizes why you need to get rate quotes from many companies using your own specific driver information and vehicle.
The vehicle model requiring coverage is one of the largest considerations in finding cheaper car insurance for safe drivers. Vehicles with higher performance, poor safety features, or a track record of large liability claims will cost significantly more to insure than safer, lower-performance models.
The next table shows insurance premiums for a selection of the most economical vehicles to buy insurance for.
| Vehicle Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Honda Accord LX-P 4-Dr Sedan | $1,929 |
| Hyundai Elantra GLS Touring Station Wagon | $1,939 |
| Honda CR-V LX 4WD | $2,116 |
| Ford Escape XLT 4WD | $2,163 |
| Chevrolet Impala LS | $2,242 |
| GMC Sierra SLE Crew Cab 2WD | $2,282 |
| Chevrolet Malibu Hybrid | $2,289 |
| Ford Focus SES 4-Dr Sedan | $2,364 |
| Ford Edge Sport 2WD | $2,404 |
| Honda Odyssey EX-L W/Navigation | $2,410 |
| Toyota Prius | $2,411 |
| Toyota Tacoma 4WD | $2,455 |
| Ford Explorer XLT AWD | $2,462 |
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Data 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-policy, claim-free, safe-driver, multi-vehicle, and homeowner. Information does not factor in the specific area where the vehicle is garaged which can change price quotes greatly.
Based upon the table data, we can tell that cars like the Honda Accord, Hyundai Elantra, Honda CR-V, Ford Escape, and Chevrolet Impala are going to be the more affordable vehicles to insure for good drivers.
Get discounts on Louisville insurance
Car insurance companies that provide policies for safe drivers may also give you premium discounts that may potentially lower prices by 25% or more if you meet certain criteria. A list of auto insurance companies and some of the premium reductions they offer are detailed below.
- Farm Bureau may have discounts that include 55 and retired, multi-vehicle, renewal discount, driver training, good student, youthful driver, and multi-policy.
- MetLife has discounts for claim-free, multi-policy, good student, accident-free, good driver, defensive driver
- Progressive policyholders can earn discounts including online quote discount, multi-vehicle, good student, multi-policy, homeowner, online signing, and continuous coverage.
- AAA includes discounts for good student, multi-policy, pay-in-full, good driver, and education and occupation.
- American Family may include discounts for mySafetyValet, bundled insurance, good driver, air bags, TimeAway discount, and Steer into Savings.
- GEICO discounts include five-year accident-free, multi-vehicle, defensive driver, good student, daytime running lights, anti-theft, and military active duty.
- State Farm offers discounts including good driver, Drive Safe & Save, student away at school, Steer Clear safe driver discount, and good student.
The information below visualizes the comparison of insurance costs with and without discounts being applied to the rates. The information is based on a female driver, no violations or claims, Kentucky state minimum liability limits, comprehensive and collision coverage, and $100 deductibles.
The first bar for each age group shows premium with no discounts. The second bar shows the rates with passive restraint, multiple policy, claim-free, homeowner, marriage, and defensive driving course discounts applied. With discounts applied, theaverage amount saved on auto insurance for safe drivers is 28% or $490.
Best auto insurance company in Kentucky
Selecting the best auto insurance provider can be challenging considering how many different companies there are to choose from in Kentucky. The company ratings displayed below can help you choose which auto insurers to look at purchasing a policy from.
These ratings are only made up of the largest auto insurers in America, so companies with more of a regional focus are not factored into the list. If you’d like to compare prices and find the cheapest rates for safe drivers, click here.
Top 10 Major Car Insurance Companies in Louisville Ranked by A.M. Best Rating
- Travelers – A++
- USAA – A++
- GEICO – A++
- State Farm – A++
- Erie Insurance – A+
- Esurance – A+
- Progressive – A+
- Nationwide – A+
- The Hartford – A+
- Allstate – A+
Top 10 Major Car Insurance Companies in Louisville Ranked by Claims Service
- Travelers
- Allstate
- Nationwide
- State Farm
- GEICO
- Liberty Mutual
- American Family
- Esurance
- AAA Insurance
- The Hartford
Careless drivers pay higher rates
In a perfect world, the best way to find cheap auto insurance rates in Louisville for good drivers is to be a careful driver and avoid accidents and traffic violations. The information below shows how violations and fender-benders raise insurance costs for different age categories. The data assumes a single male driver, comp and collision included, $250 deductibles, and no discounts are taken into consideration.
In the chart above, the average cost of auto insurance per year with a clean driving record and no accidents is $2,333. Get written up for one speeding ticket and the average cost surges to $2,628, an increase of $295 each year. Then throw in two accidents along with the one speeding ticket and the 12-month cost of auto insurance for safe drivers increases to an average of $5,170. That’s an increase of $2,837, or $236 per month, just for not driving responsibly!
Here’s why price comparisons are so important
Louisville, KY auto insurance rates are impacted by many factors that can increase your annual premium. Simply improving your credit, adding a teenager to your policy, or having an at-fault accident can cause premium changes that can make some companies more affordable than before. In addition to those changes, insurers change prices as often as every three months in order to maintain liquidity for claims. Larger than normal claims may result in more expensive prices, while profitable underwriting can cause cheaper Louisville car insurance rates.
The bar chart below shows the companies that have the cheapest car insurance in Louisville, KY for a 35-year-old male driver with no violations or accidents, and great credit. Based on his current risk factors, Cincinnati Insurance may have the best car insurance rates in Louisville at $1,711 each year. This is $432 less than the average premium paid by Kentucky drivers of $2,143. Kentucky Farm Bureau, USAA, Auto-Owners, and Motorists Mutual are the remaining cheapest Louisville, KY auto insurance companies.
Now we will pretend the driver from the first example an accident claim, a little lower credit rating, and a traffic citation. Due to the fact that every insurance company has their own process to determine rates, comparing insurance quotes may now present a new list of the cheapest Louisville car insurance companies as shown below.
Grange Mutual now has the best price on car insurance in Louisville with Kentucky Farm Bureau, USAA, State Farm, and Westfield completing the list. This example demonstrates why drivers need to shop around to find the most economical auto insurance rates for safe drivers. Car insurance prices consist of many different factors and change frequently, so the lowest-price company six months ago may now be quite expensive.