What Auto Insurance is Cheapest After a Speeding Ticket in Louisville?

The vehicle model needing coverage is one of the largest considerations in finding the best auto insurance after a speeding ticket. Vehicles with lots of speed or power, poor safety ratings, or high incidents of liability claims will cost substantially more to insure than more modest models.

The information below estimates auto insurance costs for some of the cheaper automobiles to insure in Kentucky.

Cheapest Vehicles to Insure in Louisville, KY
Vehicle Make and Model Estimated Cost for Full Coverage
Ford Escape XLS 4WD $2,755
Hyundai Elantra SE Touring Station Wagon $2,813
Honda CR-V EX-L 2WD $2,898
Chevrolet Equinox LS AWD $3,062
Jeep Grand Cherokee Laredo 4WD $3,072
Dodge Grand Caravan SE $3,083
Toyota Prius $3,135
Honda Civic LX 4-Dr Sedan $3,174
Ford Explorer Eddie Bauer 2WD $3,178
Ford F-150 STX Regular Cab 4WD $3,185
Nissan Altima 2.5 4-Dr Sedan $3,269
Ford Fusion S 4-Dr Sedan $3,274
Toyota RAV4 Limited 2WD $3,269
Honda Odyssey EX W/Rear Entertainment $3,272
Toyota Tacoma 2WD $3,280
Chevrolet Impala LS $3,272
Volkswagen Jetta SEL 4-Dr Sedan $3,290
Toyota Camry LE $3,345
Chevrolet Malibu LT $3,414
Nissan Rogue SL AWD $3,448
Toyota Corolla S $3,454
Ford Edge Limited AWD $3,460
Jeep Wrangler Unlimited Sport Islander Package 4WD 4-Dr $3,466
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Data assumes single male driver age 30, two speeding tickets, no at-fault accidents, $1,000 deductibles, and Kentucky minimum liability limits. Discounts applied include claim-free, homeowner, multi-vehicle, and multi-policy. Prices do not factor in specific location information which can increase or decrease price quotes greatly.

Based upon the rates shown, we can tell that vehicles like the Ford Escape, Hyundai Elantra, Honda CR-V, Chevrolet Equinox, and Jeep Grand Cherokee are most likely to be a few of the less-costly vehicles to insure after a few driving violations.

Shopping around for cost effective auto insurance is not most people’s favorite thing to do, and finding out which companies quote the most affordable auto insurance rates after a speeding ticket will require a bit more work.

Every auto insurer uses their own method for determining rates in each state, so let’s begin by taking a look at the auto insurance companies with the overall cheapest rates in Louisville, KY. It’s a good idea to be aware that Kentucky auto insurance rates are impacted by many factors that control the price of your policy. This price fluctuation is why it is important to perform a complete rate comparison to get cheap auto insurance quotes after a speeding ticket. Car insurance prices can be determined by many factors and can change substantially, so the cheapest rate when you bought your policy may now be an over-priced policy.

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Cheapest Kentucky auto insurance companies
Rank Company Cost Per Year
1 Cincinnati Insurance $1,082
2 Kentucky Farm Bureau $1,174
3 USAA $1,175
4 Auto-Owners $1,371
5 Motorists Mutual $1,553
6 Grange Mutual $1,577
7 Travelers $1,680
8 State Farm $1,812
9 Westfield $1,832
10 Safe Auto $1,972
11 Nationwide $2,064
12 Electric $2,076
13 Progressive $2,077
14 State Auto $2,166
15 Encompass $2,288
16 GEICO $2,413
17 Safeco $2,709
18 MetLife $3,146
19 Shelter $3,167
20 Allstate $3,712
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Cincinnati Insurance may have some of the lowest car insurance rates in Louisville at around $1,082 per year. This is $1,061 less than the average rate paid by Kentucky drivers of $2,143. Kentucky Farm Bureau, USAA, Auto-Owners, and Motorists Mutual also qualify as some of the cheapest Louisville, KY car insurance companies.

As illustrated above, if you currently have a policy with Auto-Owners and switched to Kentucky Farm Bureau, you may see an annual premium reduction of about $197. Drivers with Motorists Mutual could save as much as $379 a year, and Grange Mutual policyholders might lower prices by up to $403 a year.

Bear in mind that those policy prices are averaged across all types of drivers and the different vehicles they drive and and are not calculated with an exact vehicle garaging location after a speeding ticket. So the company that can offer the best rates for your situation may not even be in the top 21 companies in the list above. That illustrates why you need to compare rates from as many companies as possible using your own driver and vehicle profiles.

After a few driving violations, one of the more important considerations that determine car insurance rates is where you normally keep your vehicle. Regions with larger populations or more claims tend to have higher rates, whereas areas with less congestion benefit from lower prices.

The illustration below rates the most expensive areas in Kentucky after a speeding ticket to buy car insurance in. Louisville is listed at #1 with an annual cost of $2,112 for the average policyholder, which is around $176 per month.

Car insurance prices in Louisville
Rank City Average Per Year
1 Louisville $2,112
2 Frankfort $1,742
3 Jeffersontown $1,685
4 Saint Matthews $1,660
5 Ashland $1,656
6 Paducah $1,647
7 Madisonville $1,600
8 Murray $1,597
9 Radcliff $1,590
10 Danville $1,581
11 Elizabethtown $1,547
12 Georgetown $1,536
13 Winchester $1,517
14 Nicholasville $1,504
15 Henderson $1,495
16 Hopkinsville $1,493
17 Independence $1,480
18 Richmond $1,475
19 Covington $1,472
20 Bowling Green $1,461
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Annual rates are estimated as the specific Louisville residence address can increase or decrease premiums significantly.

Full coverage rates compared to liability-only

Reducing the cost of auto insurance is the goal of the majority of people, and one of the easiest ways to find cheap insurance after a speeding ticket is to buy liability only. The information below compares insurance rates when comparing full coverage to liability only. The information is based on a clean driving record, no at-fault accidents, $250 deductibles, single marital status, and no discounts are taken into consideration.

If we average all the age groups together, physical damage coverage costs $2,293 per year more than just buying liability insurance. Many of you may wonder when is the right time to remove full coverage. There isn’t a written rule for phasing out physical damage coverage on your policy, but there is a broad guideline. If the yearly cost of comp and collision coverage is about 10% or more of the replacement cost minus the deductible, then it could be time to drop full coverage.

The illustration below demonstrates how deductibles can affect premium costs when trying to find cheap insurance after a speeding ticket. The price estimates are based on a married male driver, full coverage, and no discounts are taken into consideration.

The data above shows that a 30-year-old driver could lower their car insurance rates by $300 a year by increasing from a $100 deductible up to a $500 deductible, or save $456 by switching to a $1,000 deductible. Youthful drivers, like the 20-year-old, could roll back prices as much as $910 every year by choosing larger deductibles on their policy.

If you do raise deductibles, it is a good idea to have emergency funds available to cover the extra out-of-pocket expense. That is the one disadvantage of using higher deductibles.

You are probably paying too much for car insurance

Louisville auto insurance rates are determined by lots of factors which can substantially change the price you pay. Getting older, becoming a homeowner, or getting a DUI can produce rate changes resulting in some rates now being more affordable than others. And not only may your rating factors change, but companies file new Kentucky auto insurance rates as needed in order to offset underwriting gains or losses. An unexpected high level of claims can result in high rates, while a profitable period can cause cheaper Louisville car insurance rates.

The bar chart below shows rates for the cheapest car insurance in Louisville, KY for a 40-year-old female driver with no accidents or violations, and solid credit. If we estimate prices based on her personal profile, Cincinnati Insurance offers the most affordable car insurance rates in Louisville at $1,710 per year. This is $433 less than the average policy premium paid by Kentucky drivers of $2,143. Kentucky Farm Bureau, USAA, Auto-Owners, and Motorists Mutual round out the rest of the cheapest Louisville, KY auto insurance companies.

The chart below compares rates after we give the driver from the above example an accident claim, less-than-perfect credit, and a traffic ticket or two. Since each insurance company has a different formula to set policy rates, comparing insurance quotes most likely will result in a significantly different list of affordable Louisville car insurance companies as shown below.

USAA now has the cheapest insurance rate in Louisville with Travelers, Kentucky Farm Bureau, State Farm, and Auto-Owners now being in the top five. This demonstrates why drivers need to perform a complete rate comparison when trying to get the best car insurance quotes after a speeding ticket.

Auto insurance prices are calculated by many factors and change substantially, so the lowest-price company three years ago may now be priced much higher than other options.

How to find budget-friendly insurance after a speeding ticket

Lowering your rates is not difficult, and here are some penny-pinching ideas that can help Kentucky drivers quote cheap coverage.

The last idea is especially significant, as we noted in this article. Auto insurance prices in Louisville adjust frequently, so you should be ready to change to a new company if a cheaper price is available. Many drivers have brand loyalty and that’s fine, but it’s not a good idea if that loyalty results in overpaying a wad of cash every year. Now is a great time to compare rates to find cheaper auto insurance after a speeding ticket.