Best Ways to Save on Louisville, KY Car Insurance

Did a good deal turn into an under-performing, overpriced auto insurance policy? Believe me when I say many consumers are feeling buyer’s remorse and feel like there’s no way out.

A recent auto insurance study discovered that almost 70% of insureds kept their policy with the same company for more than four years, and 38% of drivers have never compared rates to find cheaper insurance. Louisville drivers could save about $630 each year just by getting comparison quotes, but they don’t know the actual amount they would save if they moved their coverage to a different company.

How to find low-cost car insurance in Louisville

It takes a little time, but the best way to get the cheapest auto insurance rates is to compare prices regularly from companies who sell insurance in Louisville. You can compare rates by following these guidelines.

A good tip to remember is that you use identical coverages on every price quote and and to get rate quotes from all possible companies. This provides an accurate price comparison and the best rate selection.

You have so many insurers to pick from, and although it’s a good thing to have multiple companies, having more insurers makes it harder to find the lowest cost provider.

Locating the most cost-effective car insurance policy in Louisville can be made easier if you know where to look. If you are already insured, you stand a good chance to be able to save money using the techniques covered below. Although Kentucky vehicle owners can benefit by having an understanding of how the larger insurance companies determine premium rates because rates are impacted by many factors.

Auto Insurance Rates for Popular Vehicles in Louisville
Make, Model, and Trim Level Annual Policy Premium 6-month Policy Premium Monthly Premium
Chevrolet Equinox LTZ AWD $1,250 $625 $104
Chevrolet Malibu LS $1,158 $579 $97
Chevrolet Silverado LTZ Extended Cab 2WD $1,324 $662 $110
Dodge Ram Crew Cab SLT 4WD $1,354 $677 $113
Ford Edge Sport AWD $1,220 $610 $102
Ford Escape Limited 4WD $1,070 $535 $89
Ford F-150 Lariat Crew Cab 4WD $1,188 $594 $99
Ford Focus SE 4-Dr Sedan $1,128 $564 $94
Honda Accord EX 4-Dr Sedan $980 $490 $82
Honda CR-V EX 2WD $980 $490 $82
Honda Civic DX 4-Dr Sedan $1,128 $564 $94
Hyundai Elantra Blue 4-Dr Sedan $1,190 $595 $99
Nissan Altima 3.5 SR 2-Dr Coupe $1,386 $693 $116
Toyota Camry SE $1,220 $610 $102
Toyota Corolla S $1,220 $610 $102
Get Rate Quotes for Your Vehicle Go

Price data assumes single male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Kentucky minimum liability limits. Discounts applied include safe-driver, homeowner, claim-free, multi-policy, and multi-vehicle. Price estimates do not factor in Louisville location which can affect auto insurance rates considerably.

The quickest method we recommend to compare car insurance rates is to take advantage of the fact most of the bigger providers provide online access to compare rate quotes. To get started, all you need to do is take a few minutes to give details like the make and model of your vehicles, how old drivers are, your education level, and if the car is leased. Your rating data is instantly sent to many highly-rated insurers and they return cost estimate immediately.

If you would like to compare rates now, click here and see if a lower rate is available in Louisville.

The following companies provide free rate quotes in Louisville, KY. If multiple companies are listed, we suggest you visit several of them to get the most affordable price.

Car insurance protects more than just your car

Despite the high insurance cost in Louisville, insurance is required in Kentucky but it also protects you in many ways.

First, just about all states have minimum liability requirements which means you are required to buy specific limits of liability in order to be legal. 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.

Second, if you have a lien on your car, most banks will have a requirement that you carry insurance to guarantee their interest in the vehicle. If you do not keep the policy in force, the bank may buy a policy for your vehicle for a lot more money and require you to pay for the much more expensive policy.

Third, car insurance preserves your vehicle and your assets. It will also cover all forms of medical expenses that are the result of an accident. Liability insurance, one of your policy coverages, will also pay to defend you if you cause an accident and are sued. If your vehicle gets damaged, collision and comprehensive coverages will pay all costs to repair after the deductible has been paid.

The benefits of insuring your car are without a doubt worth the cost, especially if you ever need it. The average driver in America overpays as much as $825 a year so shop around at every policy renewal to be sure current rates are still competitive.

Specific coverage details

Knowing the specifics of a car insurance policy helps when choosing the best coverages and the correct deductibles and limits. Car insurance terms can be confusing and even agents have difficulty translating policy wording.

Collision coverage – Collision insurance will pay to fix damage to your vehicle resulting from colliding with another car or object. You have to pay a deductible then your collision coverage will kick in.

Collision coverage pays for things such as colliding with another moving vehicle, sideswiping another vehicle, crashing into a building, hitting a mailbox and crashing into a ditch. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from older vehicles. Another option is to raise the deductible to get cheaper collision coverage.

Collision Claims by Vehicle Model
Lowest Claims Highest Claims
Smart ForTwo Nissan GT-R
GMC Canyon Bentley Continental Flying Spur
Ford F-250 SuperCab Bently Continental GT
Ford F-150 SuperCrew Maserati Granturismo
Jeep Wrangler Audi RS7
Nissan Xterra Bently Continental GTC

Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Auto liability insurance – Liability coverage can cover damage or injury you incur to a person or their property by causing an accident. It protects you against claims from other people, and doesn’t cover your own vehicle damage or injuries.

It consists of three limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. As an example, you may have limits of 25/50/10 which stand for a limit of $25,000 per injured person, a per accident bodily injury limit of $50,000, and $10,000 of coverage for damaged property.

Liability can pay for things such as structural damage, loss of income, legal defense fees, medical services and pain and suffering. How much coverage you buy is a personal decision, but consider buying as much as you can afford. Kentucky requires minimum liability limits of 25/50/10 but it’s recommended drivers buy more liability than the minimum.

The next chart demonstrates why buying minimum limits may not be high enough to adequately cover claims.

Car Insurance Liability Claims by Manufacturer Model
Lowest Claims Highest Claims
Subaru Outback Chevrolet Sonic
Subaru Forester Dodge Charger
Volvo XC60 Hyndai Accent
Audi A6 Mitsubishi Mirage
Chevrolet Corvette Chevrolet Cruze
Fiat 500 Mitsubishi Lancer

Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Comprehensive coverage – Comprehensive insurance pays to fix your vehicle from damage OTHER than collision with another vehicle or object. You first have to pay a deductible and then insurance will cover the rest of the damage.

Comprehensive coverage protects against claims like damage from flooding, falling objects and a broken windshield. The maximum amount a car insurance company will pay at claim time is the cash value of the vehicle, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.

Car Insurance Comprehensive Claims by Vehicle Make and Model
Lowest Claims Highest Claims
Smart ForTwo Mercedes-Benz S Class
Volvo V60 Bentley Continental GT
Chevy Silverado 2500 BMW M6
Nissan Xterra Porsche Panamera GTS
Infiniti QX50 Maserati Granturismo
Chevy Spark Audi S7

Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Uninsured/Underinsured Motorist coverage – This coverage provides protection from other motorists when they do not carry enough liability coverage. It can pay for injuries sustained by your vehicle’s occupants and damage to your vehicle.

Due to the fact that many Kentucky drivers only purchase the least amount of liability that is required (25/50/10 in Kentucky), it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages is a good idea.

Medical payments coverage and PIP – Personal Injury Protection (PIP) and medical payments coverage reimburse you for immediate expenses for things like funeral costs, X-ray expenses and pain medications. They are used to cover expenses not covered by your health insurance program or if you lack health insurance entirely. They cover you and your occupants as well as if you are hit as a while walking down the street. PIP coverage is not an option in every state but can be used in place of medical payments coverage

Car Insurance Medical Payment Claims by Vehicle Make and Model
Lowest Claims Highest Claims
Chevrolet Corvette Nissan Sentra
Chevrolet Silverado 2500 Nissan Versa
Land Rover Range Rover Sport Dodge Charger
Audi A4 Allroad Chrysler 200
Ford Expedition Hyundai Accent
Chevrolet Silverado 3500 Mitsubishi Mirage

Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Louisville car insurance companies ranked

Insuring your vehicle with a highly-rated auto insurance company can be difficult considering how many companies are available to choose from in Louisville. The information shown below can help you pick which insurers you want to consider when comparing rate quotes.

Top 10 Louisville Car Insurance Companies Ranked by Claims Service

  1. Travelers
  2. Allstate
  3. Nationwide
  4. State Farm
  5. GEICO
  6. Liberty Mutual
  7. American Family
  8. Esurance
  9. AAA Insurance
  10. Titan Insurance

Top 10 Louisville Car Insurance Companies Overall

  1. Travelers
  2. USAA
  3. Mercury Insurance
  4. AAA Insurance
  5. Nationwide
  6. Allstate
  7. State Farm
  8. The Hartford
  9. Safeco Insurance
  10. Progressive