What Car Insurance is Cheapest for a Toyota Corolla in Louisville?

Finding economical insurance for a Toyota Corolla depends on a large number of factors such as your gender, if you are a frequent claim filer, and driving violations and tickets. Drivers in Kentucky will pay around $862 per year for Corolla insurance, but that price is an approximation calculated based on a 50-year-old single female driver with full physical damage coverage and $500 deductibles.

There is a good probability you are not 50 and maybe not even a female, possibly married instead of single, and maybe you want higher deductibles. Everyone has unique insurance needs, and this illustrates why the best way to find cheap insurance rates for your Toyota is to put in the effort to do a thorough rate comparison. In less than five minutes you can get rates from some of the best insurers that insure vehicles in Kentucky.

Insure Your Toyota for Less

The specific model of Corolla impacts the annual cost of coverage, so the rate you pay to insure a Corolla LE trim level will be $24 cheaper than the price to insure the higher-priced Corolla XRS trim level, as shown by the rates below.

Toyota Corolla Insurance Rates in Louisville, KY
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Corolla LE $176 $396 $368 $22 $110 $1,072 $89
Corolla S $176 $396 $368 $22 $110 $1,072 $89
Corolla XLE $176 $396 $368 $22 $110 $1,072 $89
Corolla XRS $200 $396 $368 $22 $110 $1,096 $91
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Data variables include single female driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Kentucky minimum liability limits. Discounts applied include multi-policy, safe-driver, homeowner, claim-free, and multi-vehicle. Premium amounts do not factor in garaging location in Louisville which can raise or lower premiums noticeably.

Deciding which companies have the best insurance rates for a Toyota Corolla calls for more work than just getting one or two price quotes.

Every auto insurer has a proprietary method for establishing rates, so let’s look at the rankings for the most budget-friendly insurance companies in Kentucky. Keep in mind that Kentucky insurance rates are determined by lots of factors that control the policy price. Simply having a birthday, buying a home, or getting a couple of tickets may generate price changes that can make some companies much cheaper than others.

Best Auto Insurance Prices for Your Corolla

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Cheapest insurance companies in Kentucky
Rank Company Cost Per Year
1 Cincinnati Insurance $1,115
2 Kentucky Farm Bureau $1,128
3 USAA $1,223
4 Auto-Owners $1,371
5 Motorists Mutual $1,553
6 Grange Mutual $1,609
7 Travelers $1,663
8 State Farm $1,793
9 Westfield $1,814
10 Safe Auto $1,972
11 Nationwide $2,003
12 Electric $2,139
13 Progressive $2,140
14 State Auto $2,166
15 Encompass $2,312
16 GEICO $2,413
17 Safeco $2,763
18 MetLife $3,053
19 Shelter $3,263
20 Liberty Mutual $3,598
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Cincinnati Insurance may have some of the best car insurance rates in Louisville at around $1,115 per year. This is $1,028 less than the average policy premium paid by Kentucky drivers of $2,143. Kentucky Farm Bureau, USAA, Auto-Owners, and Motorists Mutual also qualify as some of the lowest-priced Louisville, KY auto insurance companies.

As the example above demonstrates, if you are a policyholder with Auto-Owners and switched to Kentucky Farm Bureau, you could see annual savings of around $243. Insureds with Motorists Mutual might save as much as $425 a year, and Grange Mutual insureds might realize rate reductions of up to $481 a year.

To find cheaper insurance rates for your vehicle, click here to begin a quote or quote prices from the following companies.

Be aware that those premiums are averages across all insureds and vehicles and do not take into consideration a specific vehicle garaging location for a Toyota Corolla. So the insurer that has the lowest price for you may not even be in the top 21 companies in the list above. That point stresses why you need to compare as many prices as possible using your own individual information.

Liability rates compared to full coverage

Reducing premiums for insurance is the goal of the majority of people, and one common way to reduce the cost of insurance for a Toyota Corolla is to only buy liability coverage. The example below shows the comparison of auto insurance costs with full coverage compared to only the Kentucky minimum liability coverage. The premiums are based on no claims, a clean driving record, $100 deductibles, drivers are not married, and no discounts are factored in.

If we average all the age groups together, physical damage coverage costs an additional $2,434 per year more than just insuring for liability. Many drivers may wonder if buying full coverage is worth the expense. There is no definitive formula for excluding physical damage coverage, but there is a general guideline you can use. If the annual cost of coverage is more than 10% of the vehicle’s replacement cost less your deductible, then you might want to think about dropping full coverage.

How violations and accidents impact rates

In a perfect world, the best way to score good insurance prices in Louisville for a Corolla is to pay attention while driving and avoid getting tickets or having accidents. The information below shows how traffic citations and accident claims can affect insurance prices for different ages of insureds. The data assumes a married male driver, full coverage, $500 deductibles, and no additional discounts are factored in.

In the prior example, the average cost of car insurance in Louisville per year with no accidents or violations is $1,679. Receive two speeding tickets and the average cost jumps to $2,316, an increase of $637 each year. Then include one accident along with the two speeding tickets and the annual cost of insurance for a Toyota Corolla jumps again to an average of $2,960. That’s an increase of $1,280, or $107 per month, just for not driving safely!

Can you find cheaper Corolla insurance?

Kentucky insurance rates are based on many factors that can increase the policy premium. Improving your credit score, becoming a homeowner, or having an accident can trigger price changes that may make certain companies cheaper than others. Not only that, but auto insurance companies amend premium rates multiple times each year in order to offset underwriting gains or losses. Heavier than normal losses can cause increased rates, while a profitable period may cause more affordable Corolla insurance rates.

For instance, the chart below shows rates for the cheapest car insurance in Louisville, KY for a 45-year-old female driver with no violations or accidents, and good credit. When quoting prices based on her current risk profile, Cincinnati Insurance may have the most affordable car insurance rates in Louisville at $1,685 annually. This is $458 less than the average price paid by Kentucky drivers of $2,143. Kentucky Farm Bureau, USAA, Auto-Owners, and Grange Mutual are the rest of the cheapest Louisville, KY auto insurance companies.

In this next rate comparison, we will give the driver from the first set of rates a claim, slightly worse credit, and a few blemishes on her driving record. Since each auto insurance company uses their own calculation for establishing rates, analyzing rate quotes most likely will result in a different list of affordable companies as shown below.

Travelers now has the lowest price on auto insurance in Louisville, KY with Kentucky Farm Bureau, USAA, Cincinnati Insurance, and State Farm also being competitive. This example shows why Louisville drivers need to shop around to find affordable insurance rates for a Toyota Corolla. Car insurance prices are calculated by many factors and change dramatically, so the most economical option the last time you compared rates may now be an over-priced policy.

If you aren’t sure which coverage you need and prefer to have some professional guidance when shopping around for cheaper insurance for a Toyota Corolla, the agents shown below are a good start to provide answers to your questions and help you determine which auto insurance coverages would be the best in your situation. To find an auto insurance agency in your neighborhood, click the link at the bottom.

View more Louisville, KY insurance agents

Ideas for buying more affordable insurance for a Toyota Corolla

Lowering your rates is not difficult, and here are some of the recommended money-saving suggestions that can help drivers quote cheap car insurance.

The last tip in the list is incredibly necessary, as was stressed in the article above. Auto insurance rates in Louisville adjust frequently, so drivers shouldn’t be reluctant to buy a policy from a new company if a better rate can be found.

Brand loyalty is great, but it’s not a good idea if that faithfulness ends up costing you a small fortune. Take a couple minutes and shop around to find cheaper car insurance for a Toyota Corolla.