Best Insurance for a Land Rover LR2 in Louisville

Astonishing but true, the vast majority of consumers kept their coverage with the same car insurance company for at least the last four years, and approximately 40% of consumers have never even compared rates from other companies. Kentucky drivers could save 30% every year just by shopping around, but they underestimate the large savings they would see if they replace their high priced policy.

Insurance quote for Land Rover LR2 in LouisvilleIf saving the most money is your goal, then the best way to save money on Land Rover LR2 insurance in Louisville is to annually compare prices from providers in Kentucky. Price quotes can be compared by following these steps.

A crucial key to this process is that you’ll want to compare the same coverage limits and deductibles on each quote and to quote with as many different companies as possible. Doing this enables a fair price comparison and a complete selection of prices.

How to get free Land Rover LR2 insurance quotes online

Keep in mind that quoting more will improve the odds of getting more affordable rates. Not every company does Louisville LR2 insurance quotes online, so it’s recommended that you also compare price quotes on coverage from those companies, too.

The providers in the list below are ready to provide quotes in Louisville, KY. To buy the best car insurance in Kentucky, it’s highly recommended you visit as many as you can to get the best price comparison.

Louisville insurance discounts for a Land Rover LR2

Auto insurance is not cheap nor is it fun to buy but you can get discounts that may help make it more affordable. A few discounts will automatically apply when you get a quote, but a few must be asked about before they will apply.Discount auto insurance

As a sidenote, some of the credits will not apply to the whole policy. The majority will only reduce the price of certain insurance coverages like collision or personal injury protection. Even though it may seem like it’s possible to get free car insurance, companies wouldn’t make money that way. Any amount of discount should help lower your policy premium.

The illustration below shows the difference between Land Rover LR2 premium costs with and without discounts applied to the premium. The data is based on a male driver, no tickets, no at-fault accidents, Kentucky state minimum liability limits, full physical damage coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, claim-free, safe-driver, homeowner, marriage, and multi-car discounts applied.

To locate insurers that offer the discounts shown above in Louisville, click here.

Insurance statistics and figures

The information shown next outlines estimates of rate quotes for Land Rover LR2 models. Having a better understanding of how rates are figured is important for drivers to make smart choices when comparing insurance rates.

Land Rover LR2 Insurance Rates in Louisville, KY
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
LR2 $322 $550 $336 $20 $100 $1,328 $111
LR2 HSE $322 $550 $336 $20 $100 $1,328 $111
LR2 HSE Luxury $322 $550 $336 $20 $100 $1,328 $111
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Cost estimates assume married male driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Kentucky minimum liability limits. Discounts applied include multi-policy, claim-free, safe-driver, multi-vehicle, and homeowner. Rate information does not factor in specific garaging location which can modify auto insurance rates substantially.

Analysis of deductible levels

When buying insurance, a common question is at what level do you set your deductibles. The data tables below lay out the differences in premium rates between high and low physical damage deductibles. The first rate table uses a $100 physical damage deductible and the second price grid uses a $1,000 deductible.

Land Rover LR2 insurance premium rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
LR2 $354 $598 $326 $20 $98 $1,421 $118
LR2 HSE $354 $598 $326 $20 $98 $1,421 $118
LR2 HSE Luxury $354 $598 $326 $20 $98 $1,421 $118
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Land Rover LR2 insurance premium rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
LR2 $196 $316 $326 $20 $98 $956 $80
LR2 HSE $196 $316 $326 $20 $98 $956 $80
LR2 HSE Luxury $196 $316 $326 $20 $98 $956 $80
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Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Kentucky minimum liability limits. Discounts applied include multi-policy, multi-vehicle, homeowner, safe-driver, and claim-free. Price information does not factor in specific location which can change premiums substantially.

Based on this data, we can arrive at the conclusion that using a $100 deductible costs about $38 more each month or $456 each year than buying the higher $1,000 deductible. Due to the fact that you would have to pay $900 more to file a claim with a $1,000 deductible as compared to a $100 deductible, if you usually have more than 24 months between claims, you would save more money by going with a higher deductible.

How to determine when to raise your deductibles

Average monthly premium for $100 deductibles: $118
Average monthly premium for $1,000 deductibles (subtract): – $80
Monthly savings from raising deductible: $38
Difference between deductibles ($1,000 – $100): $900
Divide difference by monthly savings: $900 / $38
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 24 months

The chart below highlights how deductible choice and can influence Land Rover LR2 insurance costs for each different age group. The information is based on a married female driver, comp and collision included, and no other discounts are factored in.

Cost difference between full coverage and liability

The illustration below compares Land Rover LR2 auto insurance rates with full physical damage coverage compared to only buying the minimum liability limits required in Kentucky. The data assumes no violations or claims, $250 deductibles, drivers are not married, and no discounts are factored in.

When to stop buying comprehensive and collision coverage

There is no definitive guideline of when to stop paying for comprehensive and collision coverage on your policy, but there is a general convention. If the yearly cost for physical damage coverage is more than 10% of replacement cost minus your deductible, the it may be a good time to stop paying for full coverage.

For example, let’s assume your Land Rover LR2 settlement value is $3,000 and you have $1,000 deductibles. If your vehicle is severely damaged, the most you would get paid by your company is $2,000 after you pay the deductible. If you are paying more than $200 annually to have full coverage, then you might want to consider buying only liability coverage.

There are a few cases where buying only liability insurance is not financially feasible. If you still owe a portion of the original loan, you are required to maintain full coverage to satisfy the loan requirements. Also, if your savings is not enough to buy a different vehicle in case of an accident, you should not remove full coverage.

Components of Your Land Rover LR2 Insurance Rates

Lots of factors are used when you get your auto insurance bill. Some are pretty understandable such as traffic violations, but other factors are not quite as obvious like your vehicle usage or your vehicle rating. An important part of buying insurance is that you know some of the things that play a part in calculating auto insurance rates. If you have a feel for what influences your rates, this enables you to make decisions that may result in lower premium levels.