In a perfect world, we could simply give you the name of the single best car insurance company that has the best auto insurance prices in Kentucky. Regrettably, it’s not quite that easy, as there are a whole bunch of unknown elements such as if you own your own home, your credit history, how far you drive each year, and your date of birth, that all help calculate your car insurance rates. We will try to teach you about the causes of high insurance rates and will give you a good start in finding the cheapest car insurance in Louisville.
The vehicle model to be insured is one of the largest factors when looking for the most economical auto insurance with multiple speeding tickets. Vehicles with high performance features, poor passenger safety features, or high incidents of liability claims will cost substantially more to insure than more modest models.
The table below presents coverage rates for a selection of the most budget-friendly automobiles to insure in Kentucky.
| Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape Limited 2WD | $2,644 |
| Honda Accord EX 4-Dr Sedan | $2,762 |
| Honda CR-V EX-L 2WD | $2,826 |
| Toyota Tacoma 4WD | $2,896 |
| Ford F-150 XLT Regular Cab 4WD | $2,904 |
| Chevrolet Impala LT | $3,066 |
| Jeep Grand Cherokee Laredo 2WD | $3,072 |
| Jeep Wrangler Unlimited Sahara 2WD 4-Dr | $3,136 |
| Toyota Prius | $3,139 |
| Ford Explorer XLT AWD | $3,179 |
| Hyundai Elantra Blue 4-Dr Sedan | $3,185 |
| Honda Odyssey EX | $3,206 |
| Nissan Rogue SL 2WD | $3,279 |
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Prices based on single male driver age 40, two speeding tickets, no at-fault accidents, $1,000 deductibles, and Kentucky minimum liability limits. Discounts applied include multi-policy, homeowner, claim-free, and multi-vehicle. Information does not factor in vehicle garaging location which can affect insurance rates substantially.
By looking at the data, you can figure that cars like the Ford Escape, Honda Accord, and Honda CR-V are most likely to be a few of the less-costly vehicles to insure after a few driving violations.
After a few driving violations, one of the more important considerations that are looked at to help calculate the amount you pay for auto insurance is where you live in Louisville. More populated areas are more likely to have higher rates, whereas areas that tend to be more rural have the luxury of lower rates.
The following table ranks the highest-priced areas in Kentucky with multiple speeding tickets to purchase car insurance in. Louisville shows up at #1 with the annual price of $2,176 on average, which is around $181 per month.
| Rank | City | Annual Rate |
|---|---|---|
| 1 | Louisville | $2,176 |
| 2 | Frankfort | $1,725 |
| 3 | Ashland | $1,707 |
| 4 | Saint Matthews | $1,694 |
| 5 | Jeffersontown | $1,668 |
| 6 | Paducah | $1,631 |
| 7 | Murray | $1,613 |
| 8 | Radcliff | $1,606 |
| 9 | Danville | $1,581 |
| 10 | Elizabethtown | $1,563 |
| 11 | Madisonville | $1,552 |
| 12 | Winchester | $1,547 |
| 13 | Covington | $1,532 |
| 14 | Hopkinsville | $1,523 |
| 15 | Henderson | $1,511 |
| 16 | Nicholasville | $1,504 |
| 17 | Lexington | $1,499 |
| 18 | Georgetown | $1,491 |
| 19 | Richmond | $1,490 |
| 20 | Florence | $1,485 |
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Rates are approximated as the vehicle garaging location can influence coverage prices substantially.
Difference between full coverage and liability only rates
Reducing premiums for auto insurance is probably important to most people, and an easy way to buy cheaper insurance with multiple speeding tickets is to not buy comprehensive and collision coverage. The example below shows the difference between car insurance costs with liability coverage only compared to full coverage. The premiums are based on a clean driving record, no claims, $1,000 deductibles, marital status is single, and no additional discounts are factored in.
If we average the cost for all age groups, physical damage coverage on your policy costs $1,374 per year more than just insuring for liability. Many of you may wonder when is the right time to remove full coverage. There is no written rule of when to stop paying for comprehensive and collision coverage on your policy, but there is a guideline you can use. If the annual cost of coverage is about 10% or more of the replacement cost of your vehicle minus the policy deductible, then you might want to think about dropping full coverage.
For example, let’s pretend your vehicle’s book value is $12,000 and you have $1,000 physical damage deductibles. If your vehicle is damaged in an accident, the most your company would pay you is $11,000 after paying the physical damage deductible. If it’s costing you more than $1,100 annually for physical damage coverage, then you might want to consider buying only liability coverage.
Ending up with the highest-rated insurance provider is hard considering how many companies sell coverage in Louisville. The company rank data in the lists below could help you analyze which companies to look at comparing rate quotes with. The ratings below are only made up of companies with a nationwide focus, so smaller companies are not factored into this list.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| Travelers | 93 | 98 | 99 | 88% | A++ | 95.1 |
| USAA | 83 | 99 | 100 | 91% | A++ | 94.1 |
| AAA Insurance | 91 | 95 | 92 | 90% | A | 93.3 |
| Nationwide | 85 | 95 | 97 | 89% | A+ | 92.4 |
| Allstate | 77 | 100 | 97 | 88% | A+ | 90.7 |
| State Farm | 80 | 94 | 96 | 88% | A++ | 90.6 |
| The Hartford | 88 | 93 | 91 | 87% | A+ | 90.4 |
| Safeco Insurance | 91 | 95 | 85 | 88% | A | 90.2 |
| Progressive | 88 | 94 | 83 | 88% | A+ | 90.1 |
| American Family | 91 | 86 | 95 | 83% | A | 89.7 |
| Esurance | 86 | 90 | 94 | 90% | A+ | 89.5 |
| The General | 86 | 93 | 89 | 84% | A- | 88.2 |
| GEICO | 79 | 89 | 95 | 87% | A++ | 87.8 |
| 21st Century | 86 | 82 | 90 | 84% | A | 86.4 |
| Liberty Mutual | 79 | 87 | 95 | 78% | A | 85.3 |
| Erie Insurance | 87 | 84 | 85 | 85% | A+ | 85.3 |
| Farmers Insurance | 77 | 80 | 80 | 84% | A | 80.3 |
| Compare Rates Now Go | ||||||
Data Source: Insure.com Best Car Insurance Companies
Why you should be shopping around
Kentucky auto insurance rates are impacted by many things which can significantly increase or decrease your annual premium. Improving your credit score, buying higher coverage limits, or having a fender bender can trigger price changes that can make some companies affordable when they were higher priced. Not only may your situation change, but insurers amend premium rates every year or even multiple times each year to adjust for unexpected claims or profits. Unexpectedly high claims may cause a rate increase, while a better claims history may produce lower-cost Louisville car insurance rates.
To illustrate this example, the chart below shows rates for the cheapest car insurance in Louisville, KY for a 45-year-old female driver with no prior accidents, a clean driving record, and a good credit history. When quoting prices based on her current rating profile, Cincinnati Insurance might quote the most affordable car insurance rates in Louisville at $1,661 a year. This is $482 less than the average 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.
Now we will pretend the driver from the first rate comparison a claim, a lower credit rating, and a stop sign violation. Because each company has a proprietary formula to set premium rates, analyzing rate quotes may result in a different list of the cheapest car insurance companies in Louisville as shown below.
Kentucky Farm Bureau now has the cheapest rate in Louisville with Travelers, USAA, Westfield, and State Farm also having competitive pricing. This example proves why it is crucial to compare rates when trying to find the lowest insurance quotes with multiple speeding tickets. Auto insurance prices are determined by many factors and can change substantially, so the best company when you bought your policy may now cost much more than other companies.
Tips for buying more affordable insurance with multiple speeding tickets
Lowering your rates is not difficult, and here are some of the recommended money-saving suggestions that can help drivers quote low-cost coverage.
- Lower rates by purchasing a safer vehicle
- Too many claims can make car insurance unaffordable
- Multi-policy discounts save money
- Avoid speeding and other traffic citations and pay less
- Being accident-free can lower rates significantly
- Shop your coverage around for the best deal
The last tip is extremely significant, as was pointed out in this write-up. Prices charged by companies adjust frequently, so you should be ready to buy a policy from a new company if a cheaper price is available.
Staying with the same company for years is fine, but it’s not a good idea if your bullheadedness ends up costing you a small fortune. Take a couple minutes and shop around to find cheaper auto insurance with multiple speeding tickets in Louisville.
The insurance agencies listed below can aid you in deciding which policy fits your needs best, since some drivers wish to get some guidance when buying car insurance with multiple speeding tickets. It’s not always easy to find the cheapest rate yourself, and professional agents can add peace of mind knowing your coverage gives you adequate protection in the event of a claim. To locate an agency in your neighborhood, click the button at the bottom of the list.
Dave Metzger – State Farm Insurance Agent
6015 Bardstown Rd – Louisville, KY 40291 – (502) 239-4800
Family Select Insurance
6409 Dutchmans Pkwy – Louisville, KY 40205 – (502) 454-7283
Corey Insurance Agency
3832 Taylorsville Rd #1 – Louisville, KY 40220 – (502) 473-7910