Unbelievably, the vast majority of consumers have bought auto insurance from the same company for at least four years, and just short of a majority have never shopped around. With the average auto insurance premium being $2,130, Kentucky drivers could save an average of about $630 each year, but they don’t believe how much money they would save if they switched to a cheaper policy.
If you want to find the absolute lowest rates, then the best way to get low-cost Scion xB insurance in Louisville is to start comparing prices regularly from providers who provide car insurance in Kentucky.
- Gain an understanding of car insurance and the factors you can control to prevent expensive coverage. Many policy risk factors that cause rate increases like traffic citations and a not-so-good credit score can be amended by making minor changes to your lifestyle. This article gives more details to help reduce premium rates and get discounts that may be available to you.
- Request rate estimates from direct carriers, independent agents, and exclusive agents. Direct companies and exclusive agencies can only give prices from one company like Progressive or State Farm, while agents who are independent can provide rate quotes from multiple sources.
- Compare the new rate quotes to your existing coverage to determine if switching companies saves money. If you find better rates and make a switch, make sure the effective date of the new policy is the same as the expiration date of the old one.
A good tip to remember is to try to use the same physical damage deductibles and liability limits on every quote request and and to analyze as many different insurance providers as possible. Doing this enables an apples-to-apples comparison and the best price quote selection.
Pricing the lowest-priced protection in Louisville is not as difficult as people think. Practically anyone who needs more affordable auto insurance will more than likely be able to find better rates. But Kentucky vehicle owners do need to learn how big insurance companies sell insurance online and use it to find better rates.
Companies offering Scion xB insurance in Louisville
The companies shown below provide quotes in Kentucky. If you wish to find the best auto insurance in Louisville, KY, it’s highly recommended you click on several of them in order to find the most competitive rates.
Scion xB coverage statistics
The table shown next outlines a range of insurance premium costs for Scion xB models. Being able to understand how auto insurance premiums are figured can benefit drivers when making decisions when shopping around.
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Prices based on single female driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Kentucky minimum liability limits. Discounts applied include homeowner, safe-driver, multi-vehicle, claim-free, and multi-policy. Table data does not factor in vehicle garaging location which can change insurance rates significantly.
One frequently asked question is where to set your physical damage deductibles. The data tables below help summarize how much more rates are of buying low and high policy deductibles. The first set of rates uses a $250 physical damage deductible and the second price chart uses a $1,000 deductible.
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Cost estimates assume married male driver age 30, no speeding tickets, no at-fault accidents, and Kentucky minimum liability limits. Discounts applied include multi-vehicle, claim-free, homeowner, multi-policy, and safe-driver. Rate quotes do not factor in specific location information which can influence premiums substantially.
We can estimate from the data above that using a $250 deductible costs roughly $21 more each month or $252 annually than choosing the higher $1,000 deductible. Since you would have to pay $750 more out of your own pocket with a $1,000 deductible as compared to a $250 deductible, if you have at least 36 months between claims, you would save money if you elect the higher deductible.
The chart below highlights how deductible selection and can increase or decrease Scion xB premium costs for each age group. The data is based on a married female driver, full coverage, and no other discounts are factored in.
Car insurance rates are higher with tickets and accidents
The information below demonstrates how traffic citations and at-fault accidents can influence Scion xB insurance costs for different ages of insureds. The premiums assume a married male driver, full coverage, $250 deductibles, and no discounts are applied.
Scion xB liability-only versus full coverage
The chart below illustrates the difference between Scion xB car insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in Kentucky. The costs are based on a clean driving record, no claims, $500 deductibles, drivers are single, and no discounts are taken into consideration.
Are you wasting money on full coverage?
There is no exact rule to exclude comprehensive and collision coverage on your policy, but there is a general guideline you can use. If the yearly cost of full coverage is more than about 10% of any settlement you would receive from your insurance company, then it may be the right time to buy liability only.
For example, let’s assume your Scion xB book value is $7,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, the most your company will settle for is $6,000 after you pay the deductible. If you are paying over $600 annually for physical damage coverage, then you might want to think about dropping full coverage.
There are some cases where buying only liability insurance is not advised. If you haven’t paid off your loan, you have to maintain full coverage to satisfy the loan requirements. Also, if you can’t afford to buy a different vehicle in the event your current vehicle is totaled, you should keep full coverage on your policy.
Discount Louisville insurance quotes
Insurance is neither fun to buy or cheap, but you may be missing some discounts that you may not know about. Some trigger automatically at the time of purchase, but some may not be applied and must be asked about in order for you to get them.
- Homeowners Savings – Owning a house in Louisville can help you save on insurance because it requires personal responsibility.
- Multi-policy Discount – If you can combine your auto and home policy and place coverage with the same company you will save as much as 10 to 15 percent.
- Cautious Drivers – Safe drivers may save up to 50% more compared to accident prone drivers.
- Anti-lock Brake Discount – Anti-lock brake equipped vehicles can reduce accidents and therefore earn up to a 10% discount.
- Discount for Low Mileage – Driving fewer miles may enable drivers to earn better premium rates on cars that stay parked.
- Buy New and Save – Buying insurance coverage on a new vehicle can be considerably cheaper because newer vehicles keep occupants safer.
- Driving Data Discount – Policyholders that allow their insurance company to scrutinize their driving habits through the use of a telematics system such as Allstate’s Drivewise and State Farm’s In-Drive system could save a few bucks if their driving habits are good.
- Driver Safety – Taking time to complete a class that teaches driver safety techniques could cut 5% off your bill depending on where you live.
You should keep in mind that most credits do not apply to the entire policy premium. Some only reduce the cost of specific coverages such as collision or personal injury protection. Despite the fact that it seems like having all the discounts means you get insurance for free, insurance companies wouldn’t stay in business. Any qualifying discounts will definitely reduce your policy cost.
The example below shows the difference between Scion xB car insurance costs with and without some available policy discounts. The data is based on a female driver, no claims or driving citations, Kentucky state minimum liability limits, comprehensive and collision coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, marriage, multi-policy, multi-car, claim-free, and homeowner discounts applied.
Companies and their possible discounts are:
- State Farm may offer discounts for good student, anti-theft, multiple autos, Drive Safe & Save, and accident-free.
- GEICO discounts include military active duty, driver training, membership and employees, air bags, multi-policy, good student, and daytime running lights.
- Progressive has savings for online signing, good student, multi-policy, continuous coverage, online quote discount, homeowner, and multi-vehicle.
- 21st Century has discounts for driver training, defensive driver, air bags, anti-lock brakes, and theft prevention.
- American Family may include discounts for mySafetyValet, bundled insurance, good driver, TimeAway discount, Steer into Savings, and early bird.
- The Hartford includes discounts for anti-theft, vehicle fuel type, bundle, good student, defensive driver, and air bag.
- AAA may have discounts that include multi-car, multi-policy, good student, pay-in-full, AAA membership discount, anti-theft, and good driver.
Check with all companies you are considering what discounts are available to you. Depending on the company, some discounts might not be offered in Louisville. To find insurance companies with the best Scion xB insurance discounts in Kentucky, click here to view.
What if I want to buy from local Louisville insurance agents?
Some people just prefer to get professional advice from a licensed agent and that is a personal choice. A nice benefit of comparing rate quotes online is the fact that you can find cheap rate quotes and still choose a local agent. Supporting small agencies is important particularly in Louisville.
To find an agent, once you fill out this short form, your information is instantly submitted to companies in Louisville who want to provide quotes for your insurance coverage. You never need to find an agent since price quotes are sent to your email. You can find better rates without requiring a lot of work. If you wish to quote rates from a specific company, you can always find their quoting web page and give them your coverage information.
Exclusive or Independent: There is a difference
If you prefer to buy car insurance from a reputable agency, there are a couple of different types of agencies and how they differ in how they can insure your vehicles. Car insurance agents in Louisville are classified as either independent or exclusive depending on the company they work for.
Independent Agencies or Brokers
These type of agents are not employed by any specific company so they can write business with multiple insurance companies and find the cheapest rate. If your agent finds better pricing, they can switch companies in-house and you stay with the same agent. When comparison shopping, you will want to get rate quotes from several independent insurance agents to ensure the widest selection of prices. Many independent agencies also insure through mutual insurance companies that many times have cheaper rates.
Featured below are independent insurance agencies in Louisville that may be able to give you rate quotes.
- Glenn E Martin Insurance
10226 Shelbyville Rd – Louisville, KY 40223 – (502) 245-8870 – View Map
- Louisville Kentucky Insurance
4500 Dixie Hwy – Louisville, KY 40216 – (502) 447-3711 – View Map
- Phil Brown Insurance Agency, Inc.
9300 Shelbyville Rd #1004 – Louisville, KY 40222 – (502) 327-6966 – View Map
Exclusive Insurance Agencies
Agents of this type work for only one company such as State Farm, Allstate and AAA. They generally cannot give you multiple price quotes so you need to shop around if the rates are high. Exclusive agents are well schooled on sales techniques which helps them compete with independent agents. Consumers frequently buy insurance from these agents mainly due to high brand loyalty and solid financial strength.
Below is a list of exclusive insurance agencies in Louisville that can give you price quotes.
- Vince Jarboe – State Farm Insurance Agent
5101 New Cut Rd – Louisville, KY 40214 – (502) 380-3800 – View Map
- Sam Wheeler – State Farm Insurance Agent
2902 Bardstown Rd – Louisville, KY 40205 – (502) 459-9700 – View Map
- Peggy Druin – State Farm Insurance Agent
1547 Old Preston Hwy N b – Louisville, KY 40229 – (502) 955-9746 – View Map
Finding the right insurance agent needs to be determined by more than just a low price. Any good agent in Louisville should know the answers to these questions.
- Do the companies they represent have a solid financial rating?
- Does the agency have a good rating with the Better Business Bureau?
- What insurance companies do they recommend if they are an independent agent?
- How much will you save each year by using a higher deductible?
- Which family members are covered?
- Are they in the agency full-time?
- Are they involved in claim handling?
After receiving positive responses and locked in a price quote, you’ve probably found an insurance agency that can be trusted to provide car insurance coverage. Just remember policyholders can cancel your policy whenever you choose to so never assume that you are permanently stuck with any particular company for any length of time.
Auto insurance coverages and their meanings
Understanding the coverages of your policy helps when choosing the best coverages and proper limits and deductibles. The coverage terms in a policy can be difficult to understand and even agents have difficulty translating policy wording.
Uninsured/Underinsured Motorist coverage – Uninsured or Underinsured Motorist coverage protects you and your vehicle from other drivers when they either are underinsured or have no liability coverage at all. Covered claims include injuries to you and your family as well as damage to your Scion xB.
Because many people only purchase the least amount of liability that is required (25/50/10), it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea. Most of the time your uninsured/underinsured motorist coverages do not exceed the liability coverage limits.
Liability insurance – Liability insurance can cover damage that occurs to other people or property. Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see policy limits of 25/50/10 that translate to a limit of $25,000 per injured person, a total of $50,000 of bodily injury coverage per accident, and a limit of $10,000 paid for damaged property. Some companies may use a combined limit that pays claims from the same limit with no separate limits for injury or property damage.
Liability insurance covers claims like legal defense fees, repair costs for stationary objects and funeral expenses. How much liability coverage do you need? That is a personal decision, but you should buy as large an amount as possible. Kentucky requires minimum liability limits of 25/50/10 but you should think about purchasing higher limits.
The chart below shows why buying low liability limits may not be enough.
Collision coverage – Collision coverage will pay to fix damage to your xB resulting from colliding with another car or object. You have to pay a deductible and the rest of the damage will be paid by collision coverage.
Collision coverage protects against things like backing into a parked car, colliding with another moving vehicle, colliding with a tree and hitting a parking meter. Collision coverage makes up a good portion of your premium, so you might think about dropping it from lower value vehicles. Drivers also have the option to increase the deductible on your xB to save money on collision insurance.
Medical payments coverage and PIP – Medical payments and Personal Injury Protection insurance kick in for short-term medical expenses like chiropractic care, funeral costs, rehabilitation expenses, ambulance fees and pain medications. They can be utilized in addition to your health insurance policy or if you do not have health coverage. Medical payments and PIP cover you and your occupants as well as any family member struck as a pedestrian. Personal injury protection coverage is not an option in every state but can be used in place of medical payments coverage
Comprehensive coverage – This pays for damage OTHER than collision with another vehicle or object. You need to pay your deductible first and then insurance will cover the rest of the damage.
Comprehensive insurance covers things such as a broken windshield, a tree branch falling on your vehicle and damage from getting keyed. The maximum amount you’ll receive from a claim is the ACV or actual cash value, so if it’s not worth much more than your deductible it’s not worth carrying full coverage.
Best auto insurance in Louisville
Choosing a good quality insurance provider can be difficult considering how many companies sell coverage in Louisville. The company ratings shown next could help you pick which companies to look at comparing rate quotes with.
Top 10 Louisville Car Insurance Companies Ranked by Value
- Mercury Insurance
- American Family
- AAA Insurance
- Safeco Insurance
- The Hartford
- Erie Insurance
- The General
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%
You can find cheaper coverage
When trying to cut insurance costs, do not skimp on coverage in order to save money. There are a lot of situations where consumers will sacrifice uninsured motorist or liability limits and found out when filing a claim that their decision to reduce coverage ended up costing them more. The ultimate goal is to purchase plenty of coverage at the lowest possible cost while not skimping on critical coverages.
You just read a lot of tips how to shop for Scion xB insurance online. The most important thing to understand is the more you quote Louisville auto insurance, the better your chances of lowering your rates. Drivers may even discover the lowest prices come from some of the smallest insurance companies.
Insureds change insurance companies for a number of reasons such as delays in paying claims, an unsatisfactory settlement offer, denial of a claim and not issuing a premium refund. It doesn’t matter why you want to switch choosing a new company is actually quite simple.
More information can be found below:
- Comprehensive Coverage (Liberty Mutual)
- Who Has Cheap Auto Insurance for Teenage Males in Louisville? (FAQ)
- What Car Insurance is Cheapest for a Nissan Versa in Louisville? (FAQ)
- Who Has the Cheapest Auto Insurance Rates for a Dodge Ram in Louisville? (FAQ)
- Who Has the Cheapest Louisville Car Insurance for Retired Military? (FAQ)
- Information for Teen Drivers (GEICO)
- Auto Insurance 101 (About.com)
- Distracted Driving Statistics (Insurance Information Institute)
- How to Avoid Staged Accidents (State Farm)