Has it been over a year since you last compared quotes for more affordable auto insurance rates in Louisville, KY? Louisville consumers have lots of choices when looking for the lowest priced Honda S2000 insurance. They can either waste time struggling with agents trying to get quotes or save time using the internet to compare rates. There are both good and bad ways to buy auto insurance so you’re going to learn the best way to compare rates on a Honda and locate the best price possible either online or from Louisville insurance agents.
The following companies provide comparison quotes in Louisville, KY. In order to find cheap car insurance in Louisville, KY, we suggest you visit two to three different companies in order to get a fair rate comparison.
Save money by taking advantage of these ten discounts
Some companies don’t always list the entire discount list in a way that’s easy to find, so here is a list both well-publicized and the more hidden insurance savings. If they aren’t giving you every credit available, it’s possible you qualify for a lower rate.
- Good Grades Discount – Getting good grades can save 20 to 25%. The discount lasts up until you turn 25.
- College Student – Any of your kids living away from Louisville attending college and do not take a car to college can receive lower rates.
- Include Life Insurance and Save – Some insurance carriers give better rates if you take out life insurance from them.
- Telematics Data – Louisville drivers who agree to allow their insurance company to track their driving habits remotely such as State Farm’s In-Drive might see lower rates if they are good drivers.
- Discounts for Federal Employees – Active or retired federal employment could provide a small rate reduction with a few insurance companies.
- Club Memberships – Joining a professional or civic organization may earn a discount on your bill.
- Multi-Vehicle Discounts – Having several vehicles on one policy can reduce the rates for all insured vehicles.
- Drive Less and Save – Fewer annual miles on your Honda could qualify for lower premium rates due to less chance of an accident.
- Safety Course Discount – Completing a safe driver class could save 5% or more if you qualify.
- 55 and Retired – If you qualify as a senior citizen, you may receive a small decrease in premiums.
A quick disclaimer, most of the big mark downs will not be given to the overall cost of the policy. The majority will only reduce the price of certain insurance coverages like liability, collision or medical payments. So even though it sounds like you can get free auto insurance, it doesn’t quite work that way.
Large insurance companies and the discounts they provide can be found below.
- Progressive policyholders can earn discounts including online quote discount, multi-vehicle, online signing, multi-policy, homeowner, and good student.
- GEICO may offer discounts for emergency military deployment, multi-policy, anti-lock brakes, driver training, air bags, federal employee, and daytime running lights.
- State Farm has savings for Steer Clear safe driver discount, passive restraint, accident-free, good driver, and multiple policy.
- Esurance includes discounts for homeowner, anti-lock brakes, safety device, online quote, and Switch & Save.
- The Hartford has discounts for air bag, defensive driver, good student, anti-theft, driver training, and vehicle fuel type.
Before you buy a policy, ask each insurance company to give you their best rates. Some of the earlier mentioned discounts might not be offered on policies in your area. If you would like to choose from a list of insurance companies who offer cheap Honda S2000 insurance quotes in Kentucky, click this link.
Get rate quotes but still have a local Louisville insurance agency
Certain consumers would prefer to buy from a local agent and often times that is recommended Experienced insurance agents are trained to spot inefficiencies and give you someone to call. A good thing about comparing rates online is that you can obtain the lowest rates and also buy local.
For easy comparison, once you complete this form (opens in new window), your insurance coverage information is transmitted to agents in your area that can give you free Louisville car insurance quotes to get your business. You won’t need to leave your house since price quotes are sent directly to your email. If you want to compare rates from a specific company, you can always find their quoting web page to submit a rate quote request.
Finding the right company should include more criteria than just the price. Some important questions to ask are:
- Is the agency involved in supporting local community causes?
- How will an accident affect your rates?
- Do the agents have professional certifications like CPCU or CIC?
- What is the agency’s Better Business Bureau rating?
- Can you choose the body shop in case repairs are needed?
- Do they offer claims assistance after hours?
- Are they able to influence company decisions when a claim is filed?
Independent or Exclusive: It’s your choice
When looking for a local agent, there are two types of agencies and how they work. Auto insurance agents in Louisville are categorized either exclusive or independent agents depending on their company appointments. Both types can insure your vehicles properly, but it is a good idea to know the differences because it can influence the selection process.
Exclusive Insurance Agents
Exclusive insurance agents can only provide one company’s prices and some examples include Allstate, Farmers Insurance or State Farm. These agents are not able to shop your coverage around so they have no alternatives for high prices. Exclusive agents are well schooled on their products and sales techniques and that enables them to sell even at higher rates. Some insured continue to purchase coverage from exclusives mainly due to loyalty to the company rather than having low rates.
The following are exclusive agents in Louisville that can give you rate quotes.
- Justin Roper – State Farm Insurance Agent
8800 Dixie Hwy b – Louisville, KY 40258 – (502) 271-3211 – View Map
- Mary Henry – State Farm Insurance Agent
5800 Bardstown Rd – Louisville, KY 40291 – (502) 491-7797 – View Map
- Bob Savko – State Farm Insurance Agent
10839 Bluegrass Pkwy – Louisville, KY 40299 – (502) 499-7575 – View Map
Independent Agents (or Brokers)
These agents often have affiliation with several companies so they can quote policies through many companies and potentially find a lower price. If they quote lower rates, the agent simply finds a different carrier which makes it simple for you. When comparison shopping, you will want to get quotes from a few independent agents for maximum quote selection. A lot of them also have access to less well-known companies which can save you money.
Below is a list of independent insurance agents in Louisville who can help you get rate quotes.
- Louisville Kentucky Insurance
4500 Dixie Hwy – Louisville, KY 40216 – (502) 447-3711 – View Map
- Reeves Insurance Agency
3616 Dixie Hwy – Louisville, KY 40216 – (502) 448-6226 – View Map
- Logan, Stanley – Logan Lavelle Hunt Insurance
11420 Bluegrass Pkwy – Louisville, KY 40299 – (502) 499-6880 – View Map
Once you have positive responses for all questions you ask and an affordable coverage quote, you’ve probably found a car insurance agent that can properly insure your vehicles.
Insurance does more than just protect your car
Even though Louisville S2000 insurance rates can get expensive, buying insurance serves a purpose in several ways.
- Almost all states have mandatory liability insurance requirements which means you are required to buy specific limits of liability coverage in order to drive the car legally. In Kentucky these limits are 25/50/10 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If you bought your S2000 with a loan, almost every bank will make it a condition of the loan that you have comprehensive coverage to ensure the loan is repaid in case of a total loss. If you do not keep the policy in force, the bank may insure your Honda at a significantly higher premium and require you to pay the higher price.
- Insurance preserves your Honda and your assets. It will also pay for hospital and medical expenses for not only you but also any passengers injured in an accident. Liability insurance also covers all legal expenses up to the policy limit if someone files suit against you as the result of an accident. If your Honda gets damaged, collision and comprehensive coverages will pay to repair the damage minus the deductible amount.
The benefits of insuring your S2000 more than cancel out the cost, especially if you ever need it. According to a recent study, the average American driver is wasting up to $820 a year so you should quote your policy with other companies every year to save money.
Insurance coverage considerations
Understanding the coverages of your insurance policy can help you determine which coverages you need and proper limits and deductibles. Policy terminology can be ambiguous and reading a policy is terribly boring.
Coverage for collisions
Collision insurance pays to fix your vehicle from damage resulting from a collision with another vehicle or an object, but not an animal. You have to pay a deductible and then insurance will cover the remainder.
Collision coverage pays for things such as colliding with another moving vehicle, sideswiping another vehicle, sustaining damage from a pot hole, driving through your garage door and crashing into a ditch. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. It’s also possible to increase the deductible on your S2000 in order to get cheaper collision rates.
This coverage pays for damage that is not covered by collision coverage. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.
Comprehensive insurance covers claims like rock chips in glass, hitting a deer, hail damage, a broken windshield and damage from getting keyed. The maximum amount you can receive from a comprehensive claim is the ACV or actual cash value, so if the vehicle is not worth much it’s not worth carrying full coverage.
Uninsured or underinsured coverage
Your UM/UIM coverage gives you protection when other motorists do not carry enough liability coverage. Covered claims include injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.
Since many Kentucky drivers have only the minimum liability required by law (Kentucky limits are 25/50/10), it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages is a good idea.
Medical expense coverage
Personal Injury Protection (PIP) and medical payments coverage provide coverage for bills for things like surgery, rehabilitation expenses and dental work. They are often used in conjunction with a health insurance policy or if there is no health insurance coverage. They cover you and your occupants in addition to getting struck while a pedestrian. Personal Injury Protection is not universally available and gives slightly broader coverage than med pay
Liability car insurance
This coverage will cover damage that occurs to people or other property. This coverage protects you from claims by other people, and does not provide coverage for damage sustained by your vehicle in an accident.
It consists of three limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see liability limits of 25/50/10 that means you have a limit of $25,000 per injured person, a total of $50,000 of bodily injury coverage per accident, and $10,000 of coverage for damaged property.
Liability coverage pays for claims such as medical services, emergency aid, court costs, bail bonds and repair bills for other people’s vehicles. How much liability should you purchase? That is your choice, but consider buying higher limits if possible. Kentucky requires minimum liability limits of 25/50/10 but you should consider buying higher limits.
The illustration below demonstrates why low liability limits may not provide adequate coverage.
Car insurance companies ranked
Picking a highly-rated auto insurance company can be challenging considering how many different companies insure vehicles in Kentucky. The rank data in the next section can help you choose which insurers you want to consider comparing price quotes from.
Top 10 Louisville Car Insurance Companies Overall
- Mercury Insurance
- AAA Insurance
- State Farm
- The Hartford
- Safeco Insurance
Top 10 Louisville Car Insurance Companies Ranked by Customer Satisfaction
- USAA – 91%
- AAA Insurance – 90%
- Esurance – 90%
- Mercury Insurance – 89%
- Nationwide – 89%
- Travelers – 88%
- Progressive – 88%
- Safeco Insurance – 88%
- State Farm – 88%
- Allstate – 88%
Cheaper auto insurance rates are out there
Affordable Honda S2000 insurance in Louisville is attainable from both online companies and with local Louisville insurance agents, and you should compare price quotes from both to have the best selection. Some companies do not provide internet price quotes and most of the time these small insurance companies provide coverage only through independent agents.
As you prepare to switch companies, you should never buy poor coverage just to save money. In many cases, consumers will sacrifice comprehensive coverage or liability limits and found out when filing a claim that it was a big error on their part. Your focus should be to get the best coverage possible for the lowest cost while still protecting your assets.
Consumers switch companies for a number of reasons such as denial of a claim, poor customer service, high prices and even policy non-renewal. Whatever your reason, switching auto insurance companies is pretty easy and you might even save some money in the process.
How to buy low-cost Honda S2000 insurance in Louisville
Really, the only way to find the cheapest price for auto insurance rates in Louisville is to compare prices annually from companies who can sell car insurance in Kentucky. Price quotes can be compared by completing these steps.
First, take a few minutes and learn about how companies price auto insurance and the things you can control to lower rates. Many rating factors that drive up the price such as at-fault accidents and a not-so-good credit score can be controlled by making minor changes in your lifestyle.
Second, request rate estimates from direct carriers, independent agents, and exclusive agents. Exclusive and direct companies can provide rates from one company like Progressive or State Farm, while independent agents can give you price quotes for a wide range of companies.
Third, compare the new quotes to your existing policy and determine if there is any savings. If you find better rates and switch companies, make sure there is no lapse between the expiration of your current policy and the new one.
Fourth, notify your current company to cancel your current policy and submit the signed application along with the required initial payment to the new company. Once the application is submitted, put the new certificate verifying proof of insurance in an easily accessible location in your vehicle.
An important note is to try to compare identical coverage information on every quote and to quote with as many different insurance providers as possible. This ensures a fair rate comparison and many rates to choose from.
More tips and info about auto insurance is available by following these links:
- Preventing Carjacking and Theft (Insurance Information Institute)
- Who Has the Cheapest Car Insurance Quotes for a Nissan Sentra in Louisville? (FAQ)
- What Auto Insurance is Cheapest for a Toyota RAV4 in Louisville? (FAQ)
- Older Drivers FAQ (iihs.org)
- Rental Reimbursement Coverage (Allstate)