Who Has Cheap Louisville Car Insurance for Used Cars?

The vehicle on the policy is one of the biggest factors when consumers are trying to find the best auto insurance for used cars. Vehicles with lots of horsepower, poor safety ratings, or a high likelihood of having liability claims will cost much more to insure than safer, lower-performance models. The data below estimates insurance premiums for the most economical automobiles to buy coverage for.

Cheapest Vehicles to Insure in Louisville, KY
Make and Model Estimated Cost for Full Coverage
Ford F-150 XL Super Cab 2WD $2,053
Honda CR-V EX 4WD $2,093
Ford Escape Limited 2WD $2,167
Chevrolet Impala LS $2,170
Nissan Altima 2.5 4-Dr Sedan $2,213
Jeep Wrangler Sport Islander Package 4WD 2-Dr $2,241
Toyota Tacoma Double Cab TRD Sport Package 4WD $2,253
Toyota Prius $2,278
Volkswagen Jetta S 2.5 Station Wagon $2,284
Ford Edge Limited AWD $2,333
Nissan Rogue S 2WD $2,370
Chevrolet Equinox LTZ AWD $2,373
Ford Fusion SEL 4-Dr Sedan $2,383
Chevrolet Silverado LS Crew Cab 4WD $2,373
Ford F-350 XL Crew Cab Cabela Package 2WD $2,416
Jeep Grand Cherokee Laredo 2WD $2,423
Toyota RAV4 4WD $2,429
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Data based on single male driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Kentucky minimum liability limits. Discounts applied include claim-free, homeowner, multi-policy, safe-driver, and multi-vehicle. Rate quotes do not factor in the specific area where the vehicle is garaged which can influence premiums considerably.

Looking at the rates, you can presume that vehicles like the Ford F-150, Honda CR-V, and Ford Escape are most likely going to be the cheapest vehicles to insure for pre-owned vehicles.

One of the more important factors that determine the amount you pay for auto insurance is where you keep your vehicle in Louisville. More densely populated places tend to have higher auto insurance costs, whereas areas with fewer weather claims and lower vehicle theft rates tend to receive slightly lower rates.

The following table shows the most expensive areas in Kentucky for used cars to purchase a policy in. Louisville shows up at #1 with a yearly premium of $2,090 for the average policyholder, which is approximately $174 each month.

How much is auto insurance in Louisville, KY?
Rank City Average Per Year
1 Louisville $2,090
2 Frankfort $1,778
3 Jeffersontown $1,736
4 Saint Matthews $1,711
5 Ashland $1,707
6 Radcliff $1,654
7 Paducah $1,647
8 Madisonville $1,568
9 Murray $1,565
10 Elizabethtown $1,563
11 Winchester $1,563
12 Danville $1,549
13 Georgetown $1,536
14 Richmond $1,520
15 Henderson $1,495
16 Covington $1,487
17 Florence $1,485
18 Erlanger $1,478
19 Hopkinsville $1,478
20 Lexington $1,469
21 Independence $1,466
22 Nicholasville $1,459
23 Fort Thomas $1,440
24 Bowling Green $1,433
25 Owensboro $1,376
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Premium costs are comparative as the vehicle garaging location can increase or decrease insurance rates noticeably.

Figuring out which company offers the most affordable insurance rates for used cars may require more time than just picking a company at random.

Every insurance provider has a unique approach to set their prices, so let’s examine the most competitive insurance companies in Kentucky.

Cheap Insurance Rates for Used Cars

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Rankings for the cheapest Kentucky auto insurance companies
Rank Company Cost Per Year
1 Cincinnati Insurance $1,126
2 Kentucky Farm Bureau $1,139
3 USAA $1,211
4 Auto-Owners $1,371
5 Grange Mutual $1,561
6 Motorists Mutual $1,569
7 Travelers $1,663
8 State Farm $1,867
9 Westfield $1,888
10 Safe Auto $1,991
11 Progressive $2,056
12 Nationwide $2,085
13 Electric $2,139
14 State Auto $2,232
15 Encompass $2,288
16 GEICO $2,341
17 Safeco $2,791
18 MetLife $3,084
19 Shelter $3,231
20 Liberty Mutual $3,708
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Cincinnati Insurance quotes some of the cheapest car insurance rates in Louisville at around $1,126 a year. Kentucky Farm Bureau, USAA, Auto-Owners, and Grange Mutual are also some of the lowest-priced Louisville, KY car insurance companies.

As shown above, if you currently buy coverage from USAA and switched to Cincinnati Insurance, you might see a yearly price reduction of upwards of $85. Kentucky drivers with Auto-Owners may save as much as $245 a year, and Grange Mutual insureds might reduce prices by as much as $435 a year.

These premium estimates are averages for all types of insureds and vehicles and and are not figured with an exact vehicle garaging location for used cars. So the company that has the lowest price for you may not even be in the top 21 companies shown above. That points out the importance of why you need to get auto insurance quotes using your own specific driver information and vehicle.

Tickets and at-fault accidents raise rates

The obvious way to maintain the cheapest insurance prices in Louisville for pre-owned vehicles is to be a cautious driver and avoid accidents and violations. The illustration below highlights how speeding tickets and fender-benders can impact insurance costs for different age categories. The data assumes a married male driver, comprehensive and collision coverage, $250 deductibles, and no discounts are applied.

In the previous chart, the average cost of a car insurance policy per year with no violations or accidents is $1,467. Factor in one speeding ticket and the average cost surges to $1,684, an increase of $217 each year. Now get one accident along with the one speeding ticket and the annual cost of insurance for used cars increases to an average of $2,289. That’s an increase of $822, or $69 per month, just for not paying attention while driving!

Discount Louisville car insurance rates

Insurance for pre-owned vehicles in Louisville, KYCar insurance companies that offer coverage for used cars may additionally offer price discounts that can lower rates by 25% or more if you meet the requirements. A list of insurance companies and their possible discounts are outlined below.

The diagram below compares car insurance rates with and without discounts applied to the premium. The data is based on a female driver, a clean driving record, no at-fault accidents, Kentucky state minimum liability limits, full coverage, and $1,000 deductibles. The first bar for each age group shows the average rate with no discounts. The second shows the rates with multiple policy, vehicle safety, claim-free, multiple vehicle, anti-theft, and marriage discounts applied. When discounts are factored in, theamount saved on insurance for used cars is 28% or $488.

Who has the cheapest Louisville car insurance?

Kentucky insurance rates are impacted by many factors that will increase or decrease the policy price. Simply having a birthday, having a claim, or getting a driving violation may generate price changes that can cause some rates to be cheaper than others.

Not only may your risk profile change, but insurers modify rates at least once a year in order to remain profitable. An unexpected high level of claims may result in high rates, while profitable underwriting can produce lower-cost Louisville car insurance rates.

To illustrate this example, the data below shows which company has the cheapest car insurance in Louisville, KY for a 35-year-old male driver with no violations or accidents, and excellent credit. If we compare prices based on his personal risk profile, Cincinnati Insurance offers the lowest car insurance rates in Louisville at $1,667 per year. This is $476 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.

The chart below compares rates after we give the driver in the first example a claim or two, bad credit, and a blemish on his driving record. Since every car insurance company uses their own formula for setting prices, comparing prices may now present a different list of the cheapest companies as shown below.

Grange Mutual now has the best insurance rate in Louisville with USAA, Kentucky Farm Bureau, Cincinnati Insurance, and State Farm now being in the top five. This example proves why consumers need to take the time to compare lots of rates when trying to find affordable car insurance quotes for used cars. Prices are made up of many different factors and change substantially, so the best price the last time you shopped around may now be quite expensive.

Ideas for finding the cheapest car insurance for used cars

Lowering your rates is not difficult, and here are some of the better thrifty ideas that can help Louisville drivers get cheap auto insurance.

That last tip is certainly vital, as was discussed in the article above. Coverage rates in Louisville can be modified anytime, so don’t be tentative to switch to a new company if a lower price can be found. Brand loyalty is great, but it’s not a great idea if it’s costing you big bucks every year. It takes less than five minutes to compare prices and find cheaper auto insurance for used cars.