Shockingly, the vast majority of consumers kept their policy with the same company for at least the last four years, and virtually 40% of consumers have never compared quotes from other companies. Drivers in Kentucky can cut their rates by about 30% a year just by comparing rates, but they mistakenly think it’s difficult to compare rates.
If you want to save money, the best way to get affordable auto insurance rates is to compare prices once a year from insurers that insure vehicles in Louisville.
- Get an understanding of how companies set rates and the things you can change to keep rates in check. Many factors that cause rate increases like traffic citations, accidents, and a negative credit history can be eliminated by making minor changes in your lifestyle.
- Request price quotes from direct, independent, and exclusive agents. Exclusive and direct companies can provide rates from a single company like GEICO and State Farm, while independent agencies can provide prices from multiple insurance companies.
- Compare the new rate quotes to the premium of your current policy and see if you can save money. If you find better rates and buy the policy, make sure coverage does not lapse between policies.
- Notify your agent or company to cancel your current coverage. Submit the completed application along with a down payment to the new company. As soon as you receive it, put the new proof of insurance paperwork with the vehicle registration.
One tip to remember is to compare identical coverages on every quote and and to get prices from as many companies as feasibly possible. Doing this helps ensure a fair price comparison and the best price quote selection.
If you are already insured, you should be able to get lower rates using the techniques presented in this article. Our goal is to instruct you on how to get online quotes and some tips to save money. Nevertheless, Kentucky drivers should learn how companies sell insurance online and use it to your advantage.
Just keep in mind that comparing a large number of companies increases the chance that you will find a lower rate. Not every company does Louisville Bolt insurance quotes online, so you need to compare rates on coverage from those companies, too.
The providers in the list below are our best choices to provide price quotes in Louisville, KY. In order to find cheaper auto insurance in Louisville, KY, we recommend you get rates from several of them to find the most competitive auto insurance rates.
Choosing the best Chevy Bolt insurance in Kentucky is an important decision
Even though it can be expensive, buying car insurance is required by state law in Kentucky and it also provides benefits you may not be aware of.
- Almost all states have compulsory liability insurance requirements which means the state requires a minimum amount of liability coverage in order to license the vehicle. 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 your Chevy has a loan, it’s most likely the lender will make it mandatory that you have physical damage coverage to ensure the loan is repaid in case of a total loss. If you cancel or allow the policy to lapse, the lender will be forced to insure your Chevy at a more expensive rate and require you to pay for the much more expensive policy.
- Car insurance preserves not only your Chevy but also your assets. Insurance will pay for all forms of medical expenses for you, any passengers, and anyone injured in an accident. One of the most valuable coverages, liability insurance, will also pay to defend you if you are sued as the result of your driving. If you have damage to your Chevy as the result of the weather or an accident, comprehensive and collision coverage will pay to have it repaired.
The benefits of buying car insurance are definitely more than the cost, particularly if you ever have a claim. But the average American driver overpays as much as $800 each year so it’s important to compare rates once a year at a minimum to be sure current rates are still competitive.
Eight discounts for cheaper auto insurance quotes
Some companies don’t always publicize every possible discount in a way that’s easy to find, so we took the time to find some of the best known in addition to some of the lesser obvious discounts that you can inquire about if you buy Louisville auto insurance online.
- Active Service Discounts – Having an actively deployed family member could mean lower auto insurance rates.
- Policy Bundle Discount – When you have multiple policies and insure them with the same company you could get a discount of 10% to 20% off each policy.
- Online Discount – A few companies will give you a small discount just for signing your application on their website.
- Louisville Homeowners Pay Less – Just owning your own home can save a few bucks due to the fact that maintaining a home demonstrates responsibility.
- Theft Deterrent System – Vehicles with anti-theft systems prevent vehicle theft and earn discounts up to 10% off your Louisville auto insurance quote.
- 55 and Retired – Mature drivers may qualify for a small discount on rates.
- Save with a New Car – Buying a new car model can get you a discount because new model year vehicles keep occupants safer.
- Telematics Discount – People who choose to allow their company to track where and when they drive by using a small device installed in their vehicle such as State Farm’s In-Drive could possibly reduce rates as long as the data is positive.
Please keep in mind that most of the big mark downs will not be given to the entire cost. The majority will only reduce specific coverage prices like collision or personal injury protection. Just because you may think having all the discounts means you get insurance for free, companies wouldn’t make money that way.
Companies and a selection of discounts are included below.
- GEICO discounts include air bags, anti-lock brakes, good student, anti-theft, and driver training.
- MetLife includes discounts for claim-free, good student, accident-free, multi-policy, defensive driver, good driver
- Progressive offers premium reductions for online quote discount, multi-vehicle, multi-policy, continuous coverage, and online signing.
- Travelers may include discounts for continuous insurance, new car, save driver, driver training, early quote, payment discounts, and hybrid/electric vehicle.
- SAFECO policyholders can earn discounts including anti-theft, safe driver, bundle discounts, teen safe driver, and multi-car.
- AAA has discounts for education and occupation, multi-policy, anti-theft, multi-car, pay-in-full, and good driver.
When comparing rates, check with each insurance company how many discounts you can get. Some discounts listed above may not be offered in every state. To see a list of providers who offer discounts in Kentucky, follow this link.
You may require the services of an insurance agency
Many drivers prefer to go talk to an agent and that is just fine! One of the benefits of comparing auto insurance online is the fact that drivers can get cheaper prices but still work with a licensed agent. Buying from and supporting local agencies is definitely important in Louisville.
Once you complete this quick form, the quote information is submitted to agents in your area who will return price quotes for your coverage. You don’t have to contact any insurance agencies because quoted prices will be sent directly to you. You can find lower rates AND a local agent. If you need to quote rates from a particular provider, don’t hesitate to visit that company’s website and complete a quote there.
Independent or Exclusive: It’s your choice
If you want to buy auto insurance from a reliable agent, it’s helpful to know the types of insurance agents and how they operate. Agencies in Louisville can be described as either independent or exclusive.
Independent Agencies or Brokers
Agents in the independent channel do not work for one specific company and that is an advantage because they can write policies amongst many companies and potentially find a lower price. If your agent finds better pricing, they simply switch companies in-house and you can keep the same agent. When shopping rates, we highly recommend that you compare quotes from several independent agencies so that you have a good selection of quotes to compare. Most can insure with companies that do not advertise much that can offer cheaper rates than bigger companies.
Below are Louisville independent insurance agencies who can help you get free price quotes.
- Nationwide Insurance: Lisa Spalding Sherman Insurance Agency Inc
10339 Linn Station Rd – Louisville, KY 40223 – (502) 423-1611 – View Map
- Family Select Insurance
6409 Dutchmans Pkwy – Louisville, KY 40205 – (502) 454-7283 – View Map
- National Insurance Agency, Inc.
13804 Lake Point Way # 202 – Louisville, KY 40223 – (502) 425-3232 – View Map
Exclusive Auto Insurance Agents
These agents work for only one company such as Farmers Insurance, State Farm, Allstate, and AAA. Exclusive agents cannot compare rates from other companies so you might not find the best rates. Exclusive insurance agents are highly trained on what they offer and that can be a competitive advantage. Drivers often use the same exclusive agent primarily because of the prominent brand name rather than low rates.
Shown below is a list of exclusive agencies in Louisville willing to provide price quotes.
- Robin Brown – State Farm Insurance Agent
4209 Shelbyville Rd, Ste B – Louisville, KY 40207 – (502) 897-6476 – View Map
- Justin Roper – State Farm Insurance Agent
8800 Dixie Hwy b – Louisville, KY 40258 – (502) 271-3211 – View Map
- Clay Robinson – State Farm Insurance Agent
8145 New La Grange Rd – Louisville, KY 40222 – (502) 426-1511 – View Map
Picking the best insurance agent should include more criteria than just the premium amount. Agents should be asked these questions:
- How long has their agency been open in Louisville?
- Is the agent properly licensed in Kentucky?
- Will they give you a referral list?
- Do they write coverage based solely on cost?
- If your car is totaled, how to they determine the replacement cost?
- Is there a local claims center in Louisville?
- Which family members are covered?
If you feel you receive good responses to your questions as well as a price you’re happy with, it’s a good possibility that you have found an auto insurance agent that can properly service your auto insurance policy.
Auto insurance 101
Learning about specific coverages of your auto insurance policy helps when choosing which coverages you need at the best deductibles and correct limits. The coverage terms in a policy can be impossible to understand and nobody wants to actually read their policy.
Liability coverages – This coverage protects you from damage or injury you incur to a person or their property that is your fault. This coverage protects you against other people’s claims, and does not provide coverage for damage sustained by your vehicle in an accident.
Split limit liability has three limits of coverage: per person bodily injury, per accident bodily injury, and a property damage limit. As an example, you may have values of 25/50/10 that means you have a $25,000 limit per person for injuries, a total of $50,000 of bodily injury coverage per accident, and property damage coverage for $10,000. Occasionally you may see one limit called combined single limit (CSL) which combines the three limits into one amount and claims can be made without the split limit restrictions.
Liability can pay for claims such as bail bonds, funeral expenses and repair costs for stationary objects. How much coverage you buy is a personal decision, but you should buy as high a limit as you can afford. Kentucky state law requires minimum liability limits of 25/50/10 but drivers should carry more coverage.
The illustration below demonstrates why the minimum limit may not provide adequate coverage.
Collision coverage – Collision insurance pays for damage to your Bolt caused by collision with an object or car. You have to pay a deductible then your collision coverage will kick in.
Collision can pay for claims like hitting a mailbox, sideswiping another vehicle, hitting a parking meter, colliding with another moving vehicle and driving through your garage door. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from older vehicles. You can also raise the deductible on your Bolt to get cheaper collision coverage.
Insurance for medical payments – Coverage for medical payments and/or PIP kick in for immediate expenses such as hospital visits, funeral costs, EMT expenses and doctor visits. They are often used to fill the gap from your health insurance plan or if you lack health insurance entirely. Coverage applies to not only the driver but also the vehicle occupants as well as if you are hit as a while walking down the street. Personal injury protection coverage is not universally available and may carry a deductible
Uninsured Motorist or Underinsured Motorist insurance – Uninsured or Underinsured Motorist coverage protects you and your vehicle from other motorists when they either have no liability insurance or not enough. Covered losses include medical payments for you and your occupants and also any damage incurred to your Chevy Bolt.
Because many people only purchase the least amount of liability that is required (which is 25/50/10), their liability coverage can quickly be exhausted. So UM/UIM coverage is very important. Most of the time the UM/UIM limits are similar to your liability insurance amounts.
Comprehensive coverage (or Other than Collision) – This covers damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive can pay for things such as hail damage, damage from a tornado or hurricane, vandalism and hitting a bird. The maximum payout your auto insurance company will pay is the actual cash value, so if the vehicle is not worth much it’s not worth carrying full coverage.
Persistence is the key to cheaper rates
Insureds change insurance companies for a variety of reasons including lack of trust in their agent, poor customer service, being labeled a high risk driver or an unsatisfactory settlement offer. Whatever your reason, switching companies is pretty easy and you might even save some money in the process.
We’ve covered some good ideas how to shop for Chevy Bolt insurance online. The key thing to remember is the more you quote Louisville auto insurance, the higher your chance of finding cheaper Louisville auto insurance quotes. Consumers could even find that the lowest prices come from a small mutual company.
Cheap Chevy Bolt insurance in Louisville is definitely available both online and from local insurance agents, and you need to price shop both to have the best rate selection. Some car insurance companies may not offer rate quotes online and most of the time these smaller companies only sell through independent agencies.
To read more, take a look at these articles:
- Child Safety Seats (Insurance Information Institute)
- Who Has the Cheapest Auto Insurance for a Ford Explorer in Louisville? (FAQ)
- Who Has Affordable Louisville Car Insurance for 19 Year Olds? (FAQ)
- Who Has Affordable Louisville Auto Insurance Quotes for College Students? (FAQ)
- Who Has the Cheapest Car Insurance Quotes for a Nissan Sentra in Louisville? (FAQ)
- Who Has Cheap Louisville Auto Insurance for Hybrid Vehicles? (FAQ)
- Who Has Affordable Car Insurance Rates for Electric Cars in Louisville? (FAQ)
- Vehicle Insurance (Wikipedia)
- Get the Right Protection (InsureUonline.org)
- Insurance losses by make and model (Insurance Institute for Highway Safety)