The words “cheap” and “auto insurance” probably shouldn’t be used in the same sentence, especially when you are trying to find the cheapest auto insurance for real estate agents. To help control this cost, let’s introduce you to some situations that can significantly affect car insurance premiums, and come up with some ideas to cut the cost of the next policy you buy.
For realtors, one of the more important criteria that are looked at to help calculate insurance cost is where you call home. Areas with more people or higher crime rates tend to have more expensive auto insurance rates, whereas areas with lower crime rates and fewer weather claims have the gratification of cheaper auto insurance rates.
The table below rates the priciest cities in Kentucky for real estate agents to buy auto insurance in. Louisville comes in at #1 with the annual price of $2,090 for the average insured, which is around $174 each month.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Louisville | $2,090 |
| 2 | Frankfort | $1,725 |
| 3 | Ashland | $1,707 |
| 4 | Saint Matthews | $1,694 |
| 5 | Jeffersontown | $1,685 |
| 6 | Paducah | $1,647 |
| 7 | Radcliff | $1,638 |
| 8 | Murray | $1,613 |
| 9 | Madisonville | $1,568 |
| 10 | Elizabethtown | $1,547 |
| 11 | Henderson | $1,541 |
| 12 | Georgetown | $1,536 |
| 13 | Danville | $1,534 |
| 14 | Covington | $1,532 |
| 15 | Winchester | $1,517 |
| 16 | Independence | $1,480 |
| 17 | Hopkinsville | $1,478 |
| 18 | Richmond | $1,475 |
| 19 | Nicholasville | $1,474 |
| 20 | Lexington | $1,454 |
| 21 | Florence | $1,441 |
| 22 | Fort Thomas | $1,440 |
| 23 | Erlanger | $1,435 |
| 24 | Bowling Green | $1,418 |
| 25 | Owensboro | $1,376 |
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Rate information is approximated as the specific area where the vehicle is garaged can increase or decrease auto insurance rates noticeably.
The vehicle model on the policy is one of the largest factors when looking for the best insurance for real estate agents. Vehicles with lower acceleration and performance, good safety features, or a low likelihood of having liability claims will cost less to insure than fast, unsafe models.
The data below presents insurance prices for a handful of the most affordable vehicles to buy coverage for.
| Vehicle Insured | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLS 4WD | $1,984 |
| Toyota Tacoma 4WD | $2,035 |
| Honda CR-V LX 4WD | $2,054 |
| Ford Explorer Limited 2WD | $2,193 |
| Toyota Prius | $2,208 |
| Hyundai Elantra Blue 4-Dr Sedan | $2,227 |
| Dodge Ram Quad Cab TRX4 Off Road 2WD | $2,345 |
| Dodge Grand Caravan Hero | $2,354 |
| Jeep Grand Cherokee Laredo 4WD | $2,362 |
| Chevrolet Equinox LT 2WD | $2,354 |
| Toyota RAV4 2WD | $2,362 |
| Jeep Wrangler Unlimited Rubicon 4WD 4-Dr | $2,373 |
| Honda Odyssey EX W/Rear Entertainment | $2,379 |
| Chevrolet Malibu Hybrid | $2,427 |
| Hyundai Sonata Limited 4-Dr Sedan | $2,461 |
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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-vehicle, homeowner, multi-policy, claim-free, and safe-driver. Information does not factor in specific Louisville, KY garaging location which can lower or raise coverage prices substantially.
Based on these rates, you can expect cars like the Ford Escape, Toyota Tacoma, and Honda CR-V should be a few of the less-costly vehicles to insure for realtors.
Comparing rates for low-priced auto insurance is confusing at best, and finding out which company quotes the best auto insurance rates for real estate agents involves a little more work.
Every auto insurer has a unique approach to set their prices, so let’s begin by examining the auto insurance companies that tend to have lower prices in Louisville.
Best Car Insurance Prices for Realtors
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| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Cincinnati Insurance | $1,126 |
| 2 | Kentucky Farm Bureau | $1,139 |
| 3 | USAA | $1,187 |
| 4 | Auto-Owners | $1,399 |
| 5 | Motorists Mutual | $1,569 |
| 6 | Grange Mutual | $1,609 |
| 7 | Travelers | $1,663 |
| 8 | State Farm | $1,867 |
| 9 | Westfield | $1,888 |
| 10 | Safe Auto | $1,932 |
| 11 | Nationwide | $2,024 |
| 12 | Progressive | $2,056 |
| 13 | Electric | $2,097 |
| 14 | State Auto | $2,188 |
| 15 | Encompass | $2,312 |
| 16 | GEICO | $2,437 |
| 17 | Safeco | $2,791 |
| 18 | MetLife | $3,177 |
| 19 | Shelter | $3,263 |
| 20 | Liberty Mutual | $3,744 |
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Cincinnati Insurance generally has some of the best car insurance rates in Louisville at around $1,126 each year. This is $1,017 less than the average premium paid by Kentucky drivers of $2,143. Kentucky Farm Bureau, USAA, Auto-Owners, and Motorists Mutual also are some of the lowest-priced Louisville, KY car insurance companies.
In the rate table above, if you currently have a policy with Auto-Owners and switched to Kentucky Farm Bureau, you might achieve savings of approximately $260. Drivers with Motorists Mutual might save as much as $430 a year, and Grange Mutual insureds might lower prices by up to $470 a year.
To find out how much you can save, click here to get quotes or feel free to get quotes from the companies below.
Be aware that those policy rates are averages across all ages of drivers and types of vehicles and and are not calculated with a specific location for real estate agents. So the auto insurance company that is best suited for you may not even be in the top 21 companies in the list above. That emphasizes why you need to get quotes using your own personalized driver profile and vehicle information.
How accidents and violations affect rates
One of the best ways to find cheap auto insurance premiums in Louisville for realtors is to drive safely and avoid accidents and violations. The example below illustrates how traffic citations and fender-benders can raise insurance premiums for different age categories. The premiums are based on a married female driver, full physical damage coverage, $500 deductibles, and no discounts are factored in.
In the prior example, the average cost of an auto insurance policy in Kentucky per year with a clean driving record and no accidents is $1,187. Receive one speeding ticket and the average cost surges to $1,382, an increase of $196 each year. Now throw in one accident along with the one speeding ticket and the 12-month cost of auto insurance for real estate agents jumps again to an average of $1,927. That’s an increase of $740, or $62 per month, just for not being a responsible driver!
Choosing the highest-rated insurance company is hard considering how many different insurance companies sell coverage in Kentucky. The company information below can help you select which auto insurers to look at when insurance shopping for real estate agents. The ratings below only include companies with a national presence, so smaller companies that only insure vehicles in Kentucky are not taken into consideration for the list.
Top 10 Major Car Insurance Companies in Louisville Ranked by Customer Service
- USAA
- Travelers
- AAA Insurance
- Nationwide
- Safeco Insurance
- Progressive
- State Farm
- The Hartford
- The General
- Esurance
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
Chances are good that you’re overpaying for Louisville car insurance
Louisville auto insurance rates are determined by lots of factors that may substantially change the cost of a policy. Simply turning a year older, buying a home, or getting a ticket for running a stop sign can trigger changes in premium that may make certain companies cheaper in comparison to the competition.
Not only that, but companies file new Kentucky auto insurance rates as needed in order to maintain liquidity for claims. Higher than usual claims can cause a rate increase, while a better loss history may result in cheaper Louisville car insurance rates.
For example, the data below shows the companies that have the cheapest car insurance in Louisville, KY for a 30-year-old male driver with a clean driving record, no accidents, and excellent credit. When quoting prices based on his current risk factors, Cincinnati Insurance quotes 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 are the remaining cheapest Louisville, KY auto insurance companies.
Let’s now give the driver in the first example an accident surcharge, a lower credit rating, and a speeding citation. Due to the fact that every auto insurer has a different formula for determining rates in each state, comparing quotes could now result in a different set of companies as shown below.
Travelers now has the lowest price on auto insurance in Louisville, KY with Kentucky Farm Bureau, USAA, State Farm, and Westfield also being competitive. This example demonstrates why drivers need to perform a complete rate comparison when trying to find affordable auto insurance rates for real estate agents.
Rates can be determined by many different factors and can change substantially, so the cheapest option two years ago may now be one of the higher cost companies.
How to find the cheapest car insurance for real estate agents
The list below details some of the recommended penny-pinching solutions that can help Louisville drivers find lower-cost auto insurance.
- Higher deductibles save money
- Try to pay small claims out-of-pocket
- Do not insure for full coverage
- Do not get into accidents that are your fault
- Drive safely
- Compare rates regularly to ensure the best deal
That last piece of advice is especially necessary, as was discussed in the prior information. Rates vary greatly, so drivers shouldn’t hesitate to buy from a different company if you find a cheaper price. Brand loyalty is not necessarily bad, but it’s not a good idea if that loyalty ends up costing money that could be going to better use. In just a few minutes you could compare rates to find cheaper auto insurance for real estate agents in Louisville.