For student drivers, one of the more important considerations that are looked at to determine auto insurance rates is where you normally keep your vehicle. Regions with larger populations or more claims will most likely pay more, whereas less populated areas have the enjoyment of a little cheaper coverage.
The illustration below ranks the highest-priced places in Kentucky for good students to purchase a policy in. Louisville ranks #1 with a yearly premium of $2,090 on average, which is around $174 monthly.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | Louisville | $2,090 |
| 2 | Frankfort | $1,742 |
| 3 | Jeffersontown | $1,736 |
| 4 | Ashland | $1,673 |
| 5 | Saint Matthews | $1,660 |
| 6 | Paducah | $1,647 |
| 7 | Radcliff | $1,638 |
| 8 | Madisonville | $1,600 |
| 9 | Danville | $1,581 |
| 10 | Elizabethtown | $1,563 |
| 11 | Murray | $1,549 |
| 12 | Winchester | $1,547 |
| 13 | Henderson | $1,541 |
| 14 | Georgetown | $1,506 |
| 15 | Hopkinsville | $1,493 |
| 16 | Richmond | $1,490 |
| 17 | Covington | $1,487 |
| 18 | Lexington | $1,469 |
| 19 | Erlanger | $1,463 |
| 20 | Nicholasville | $1,459 |
| Quote Best Rates Go | ||
Prices are estimated as vehicle location can modify coverage prices substantially.
Trying to find low-cost car insurance is hard enough, and deciding which company has the best insurance rates for good students takes even more perseverance. Each auto insurance company has their own process to set premium rates, so to begin we’ll rank the most affordable insurance companies in Kentucky.
It’s important to know that Kentucky insurance rates are influenced by many factors which can substantially change the price you have to pay for coverage. Simply getting older, buying higher coverage limits, or getting a DUI can cause premium changes resulting in some rates now being cheaper than before.
Lowest Insurance Price Quotes for Students
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Cincinnati Insurance | $1,093 |
| 2 | Kentucky Farm Bureau | $1,163 |
| 3 | USAA | $1,175 |
| 4 | Auto-Owners | $1,371 |
| 5 | Travelers | $1,614 |
| 6 | Motorists Mutual | $1,617 |
| 7 | Grange Mutual | $1,625 |
| 8 | Westfield | $1,814 |
| 9 | State Farm | $1,867 |
| 10 | Safe Auto | $1,991 |
| 11 | Nationwide | $2,085 |
| 12 | Progressive | $2,119 |
| 13 | Electric | $2,139 |
| 14 | State Auto | $2,166 |
| 15 | Encompass | $2,382 |
| 16 | GEICO | $2,413 |
| 17 | Safeco | $2,791 |
| 18 | MetLife | $3,177 |
| 19 | Shelter | $3,231 |
| 20 | Liberty Mutual | $3,744 |
| Get a Custom Quote Go | ||
Cincinnati Insurance normally has some of the lowest car insurance rates in Louisville at around $1,093 a year. Kentucky Farm Bureau, USAA, Auto-Owners, and Travelers also qualify as some of the most economical Louisville, KY auto insurance companies.
In the rate table above, if you are currently insured with USAA and switched to Cincinnati Insurance, you may realize annual savings of approximately $82. Insureds with Auto-Owners may save as much as $278 a year, and Travelers customers might lower prices by up to $521 a year.
Be aware that those policy rates are averaged for all drivers and vehicles and and are not figured with a specific zip code for good students. So the company that has the cheapest price for you may not even be in the top 21 companies shown above. That helps illustrate why you need to compare prices as often as possible using your own driver data and vehicle information.
Discounts on Louisville auto insurance
Car insurance companies that provide policies for good students may additionally offer rate discounts that can reduce rates by as much as 35% if you qualify for them. Large insurance companies and some of the discounts are detailed below.
- GEICO offers premium reductions for anti-lock brakes, emergency military deployment, air bags, military active duty, defensive driver, and anti-theft.
- Auto-Owners Insurance offers discounts for multiple vehicles, paid in full, student away at school, multi-policy, and teen driver.
- American Family discounts include TimeAway discount, air bags, defensive driver, bundled insurance, and mySafetyValet.
- Esurance may include discounts for anti-theft, defensive driver, Switch & Save, good student, online quote, and DriveSense.
- Progressive may offer discounts for continuous coverage, online quote discount, multi-policy, online signing, good student, multi-vehicle, and homeowner.
- State Farm offers discounts including defensive driving training, multiple autos, accident-free, passive restraint, and Drive Safe & Save.
- AAA includes discounts for pay-in-full, multi-policy, education and occupation, AAA membership discount, and good driver.
The example below illustrates the comparison of yearly insurance costs with and without discounts applied. The rate quotes are based on a male driver, no accidents, no driving violations, Kentucky state minimum liability limits, full coverage, and $1,000 deductibles. The first bar for each age group shows insurance cost with no discounts. The lower bar shows the rates with paid-in-full, anti-theft, vehicle safety, paperless filing, good student, and passive restraint discounts applied. When taking advantage of discounts, the average savings per year on insurance for good students is 28% or $548.
Careless driving habits raise insurance rates
A great way to score low insurance rates in Kentucky for student drivers is to pay attention while driving and avoid accidents and traffic violations. The information below demonstrates how speeding tickets and at-fault claims can raise auto insurance rates for each age group. The data is based on a single female driver, comp and collision included, $250 deductibles, and no additional discounts are factored in.
The data in the chart shows the average cost of car insurance in Kentucky per year with no accidents and a clean driving record is $2,214. Receive two speeding tickets and the average cost hikes up to $2,975, an increase of $761 each year. Then add two accidents along with the two speeding tickets and the 12-month cost of insurance for good students increases to an average of $5,760. That’s an increase of $3,546, or $296 per month, just for not maintaining a clean driving record!
Your cheap policy may actually be overpriced
Louisville, KY insurance rates are impacted by many things that will increase or decrease the price you have to pay for coverage. Simply turning a year older, moving to a new city, or getting a DUI can cause premium changes that can make some companies cheaper than others. Not only may your situation change, but auto insurance companies change prices every year to reflect underwriting profits or losses. Larger than normal claims can result in rate hikes, while a better claims history may produce lower-cost Louisville car insurance rates.
As an example, the chart below shows the company with the cheapest car insurance in Louisville, KY for a 40-year-old female driver with a clear driving record, no claims, and excellent credit. When quoting prices based on her current situation, Cincinnati Insurance may offer the best car insurance rates in Louisville at $1,660 each year. This is $483 less than the average rate paid by Kentucky drivers of $2,143. Kentucky Farm Bureau, USAA, Auto-Owners, and Grange Mutual round out the rest of the cheapest Louisville, KY auto insurance companies.
In the next rate comparison, we’ll give the driver from the first set of rates some claims, bad credit, and an imperfect driving record. Because each insurer has their own process for establishing rates, comparing prices could now result in a new list of cheap Louisville auto insurance companies as shown below.
Kentucky Farm Bureau now has the cheapest auto insurance in Louisville with Travelers, USAA, Cincinnati Insurance, and State Farm also having competitive pricing. This shows why consumers need to take the time to shop around with many companies when trying to find the lowest auto insurance quotes for good students.
Auto insurance prices are determined by many factors and change substantially, so the most economical option two years ago may now be quite expensive.
How to find budget-friendly car insurance for good students
Below you’ll find a few thrifty suggestions that can help Louisville drivers locate more affordable coverage.
- Clean up your credit rating
- Raise physical damage deductibles
- Insure your home and auto with the same company
- Too many claims can make car insurance unaffordable
- Remove physical damage coverage on older vehicles
- Vehicles with good safety ratings have lower liability rates
- Compare rate quotes frequently
The last suggestion is very critical, as was discussed in this article. Prices can be modified anytime, so don’t be unwilling to buy from a new company if a better deal can be had.
Many drivers tend to have loyalty to a certain company, but it’s not a good idea if that devotion results in you overpaying thousands of dollars over several years. It only take a few minutes to compare prices and find cheaper auto insurance for good students in Louisville.
If you aren’t clear which coverage you need and would like to get some guidance when shopping for cheaper insurance for student drivers, the agents below are a good start to help you make a decision which car insurance policy is best.
To find an auto insurance agency near you, click the button after the list or click here to compare price quotes.
- Reeves Insurance Agency
3616 Dixie Hwy – Louisville, KY 40216 – (502) 448-6226 - Troy Coulter – State Farm Insurance Agent
4906 Outer Loop – Louisville, KY 40219 – (502) 964-2002 - Corey Insurance Agency
3832 Taylorsville Rd #1 – Louisville, KY 40220 – (502) 473-7910