It’s a fact that auto insurance companies don’t want you to look at other companies. Insureds who get price quotes annually will probably buy a different policy because they have a good chance of finding a lower rate. A recent survey discovered that people who regularly shopped around saved as much as $860 a year compared to other drivers who don’t make a habit of comparing rates.
If finding the cheapest rates on car insurance in Louisville is why you’re here, then having some insight into the best way to quote and compare auto insurance can help you succeed in saving money.
If you want to save the most money, the best way to find low-cost auto insurance rates in Louisville is to compare prices annually from insurers in Kentucky.
- It will benefit you to learn about the different coverages in a policy and the modifications you can make to prevent expensive coverage. Many risk factors that increase rates like careless driving and a bad credit rating can be improved by improving your driving habits or financial responsibility.
- Quote rates from direct, independent, and exclusive agents. Direct and exclusive agents can only give prices from one company like Progressive or Allstate, while independent agencies can quote rates for a wide range of companies. Compare rates now
- Compare the price quotes to your existing rates and see if you can save money. If you find a lower rate quote and switch companies, ensure there is no coverage lapse between policies.
- Provide written notification to your current company to cancel your current car insurance policy and submit payment and a completed application to your new agent or company. Immediately upon receiving it, store the certificate of insurance in your vehicle.
The key thing to remember is to use identical coverage information on each quote request and and to look at as many companies as possible. Doing this provides a fair rate comparison and a complete selection of prices.
If you are insured now, you will definitely be able to get lower rates using the concepts covered in this article. Buying the cheapest auto insurance in Louisville is much easier if you have a good place to start. Nevertheless, Kentucky vehicle owners need to learn how the larger insurance companies price insurance differently and use it to your advantage.
Learn How to Quote Auto Insurance for Less
The best way to find cheaper auto insurance is to take a look at some of the factors that help calculate auto insurance rates. When you know what positively or negatively influences your rates, this helps enable you to make changes that will entitle you to lower rates. Many things are used in the calculation when you get your auto insurance bill. A few of the factors are predictable like an MVR report, but others are not as apparent such as your marital status or how financially stable you are.
Listed below are some of the things used by your company to calculate prices.
Lower rates come with age – Youthful drivers in Kentucky tend to be inattentive and easily distracted behind the wheel therefore auto insurance rates are much higher. Older people are more cautious drivers, statistically cause fewer accidents, and are safer drivers.
The following chart is based on a single driver, full coverage with $500 deductibles, and no discounts or violations.
- Annual mileage impacts rates – Driving a lot of miles in a year’s time the higher your rate. A lot of companies apply a rate determined by how the vehicle is used. Cars and trucks not used for work or commuting receive better premium rates than vehicles that have high annual mileage. Double check that your auto insurance policy states the right rating data. An improperly rated cube can cost quite a bit.
- Rural vs Urban Areas – Having an address in small towns and rural areas has definite advantages if you are looking for the lowest rates. Less people translates into fewer accidents as well as less vandalism and auto theft. Drivers who live in large Kentucky cities have to deal with traffic congestion and more time behind the wheel. More time on the road statistically corresponds to a higher accident and claim rate.
- Your car’s features help determine premiums – Owning a car that has an advanced theft prevention system can help lower your rates. Theft prevention devices like vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems can help prevent your car from being stolen.
- An active auto insurance claims history can cost you – Insurance companies in Kentucky award the lowest premiums to drivers who are not frequent claim filers. If you are a frequent claim filer, you can look forward to higher premiums or even policy non-renewal. Your car insurance is designed for more catastrophic claims.
Battle of the sexes – Statistics demonstrate women tend to be less risk to insure than men. That doesn’t necessarily mean that women are BETTER drivers than men. Men and women get in accidents in similar percentages, but males get into accidents with more damage. Men also get ticketed for serious violations such as DWI and reckless driving. Teenage male drivers are the most expensive to insure so it costs more to insure them.
The example below shows the comparison of Nissan cube yearly insurance costs for male and female drivers. The data is based on no claims, a clean driving record, comp and collision included, $500 deductibles, single status, and no policy discounts are applied.
Nissan cube coverage analysis
The coverage table displayed next outlines detailed analysis of rate quotes for Nissan cube models. Having a better understanding of how insurance premiums are figured can be useful when making informed purchases.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Cube S 2WD||$134||$216||$342||$20||$102||$814||$68|
|Cube SL 2WD||$134||$262||$342||$20||$102||$860||$72|
|Cube Krom 2WD||$152||$308||$342||$20||$102||$924||$77|
|Get Your Own Custom Quote Go|
Prices based on married female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Kentucky minimum liability limits. Discounts applied include safe-driver, multi-policy, claim-free, homeowner, and multi-vehicle. Rate quotes do not factor in specific Louisville garaging location which can impact auto insurance rates greatly.
The diagram below shows how choosing a deductible and can influence Nissan cube insurance rates for each age group. The premiums are based on a married female driver, full physical damage coverage, and no policy discounts are applied.
Liability only or full coverage
The information below compares Nissan cube insurance rates when comparing full coverage to liability only. The premiums are based on a clean driving record, no claims, $100 deductibles, marital status is single, and no discounts are taken into consideration.
When to eliminate full coverage
There is no definitive rule for phasing out comp and collision coverage, but there is a general guideline. If the annual cost of coverage is more than around 10% of replacement cost minus your deductible, then it may be the right time to buy liability only.
For example, let’s pretend your Nissan cube book value is $4,000 and you have $1,000 deductibles. If your vehicle is damaged in an accident, the most your company will settle for is $3,000 after you pay the deductible. If premium cost is more than $300 annually to have full coverage, then it could be time to drop full coverage.
There are some cases where dropping physical damage coverage is not in your best interest. If you still have a loan on your vehicle, you have to carry full coverage to protect the lienholder’s interest in the vehicle. Also, if your emergency fund is not enough to purchase a different vehicle in the event your current vehicle is totaled, you should not drop full coverage.
These discounts can lower Nissan cube insurance rates
Car insurance is expensive, but you can get discounts to help bring down the price. Certain credits will be shown at quote time, but some discounts are required to be inquired about prior to getting the savings.
- Accident Free – Louisville drivers who stay claim-free can save substantially when compared to frequent claim filers.
- Discount for New Cars – Insuring a vehicle that is new can cost up to 25% less because new vehicles keep occupants safer.
- Senior Citizen Rates – If you’re over the age of 55, you could receive a slight reduction on a Louisville car insurance quote.
- Waiver for an Accident – Not really a discount, but some insurance companies will forgive one accident without raising rates as long as you don’t have any claims prior to being involved in the accident.
- Sign Online – A few companies will provide an incentive for buying your policy digitally online.
- Seat Belts Save – Drivers who require all vehicle occupants to wear their seat belts can save a little off the PIP or medical payment premium.
- Anti-lock Brakes – Anti-lock brake equipped vehicles can stop better under adverse conditions and therefore earn up to a 10% discount.
It’s important to understand that some of the credits will not apply to all coverage premiums. Some only reduce the price of certain insurance coverages like collision or personal injury protection. Even though the math looks like having all the discounts means you get insurance for free, nobody gets a free ride.
The diagram below illustrates the comparison of Nissan cube annual premium costs with and without discounts. The price estimates are based on a female driver, no tickets, no at-fault accidents, Kentucky state minimum liability limits, full physical damage coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, multi-car, claim-free, homeowner, safe-driver, and marriage discounts applied.
The best car insurance companies and some of the premium reductions they offer can be found below.
- State Farm has discounts for defensive driving training, good student, Steer Clear safe driver discount, student away at school, and passive restraint.
- Esurance may include discounts for safety device, emergency road assistance, good student, claim free, anti-theft, multi-car, and Switch & Save.
- Progressive includes discounts for online quote discount, multi-vehicle, online signing, continuous coverage, and multi-policy.
- Liberty Mutual offers discounts for new vehicle discount, new move discount, preferred payment discount, safety features, good student, and teen driver discount.
- Auto-Owners Insurance offers premium reductions for paid in full, air bags, good student, teen driver, and multiple vehicles.
- GEICO may offer discounts for driver training, emergency military deployment, good student, air bags, membership and employees, and defensive driver.
If you are trying to find affordable Nissan cube insurance quotes, ask every insurance company which discounts you may be entitled to. A few discounts may not be offered in Louisville. To locate car insurance companies with discount rates in Louisville, click this link.
Do the work, save more money
Affordable Nissan cube insurance in Louisville can be found online as well as from independent agents in Louisville, and you should be comparing both in order to have the best price selection to choose from. Some insurance companies do not offer the ability to get a quote online and most of the time these regional carriers only sell coverage through independent insurance agencies.
As you restructure your insurance plan, it’s not a good idea to buy lower coverage limits just to save a few bucks. There are too many instances where drivers have reduced uninsured motorist or liability limits only to regret at claim time that saving that couple of dollars actually costed them tens of thousands. Your objective should be to buy enough coverage at the best cost, but don’t skip important coverages to save money.
People leave their current company for many reasons like being labeled a high risk driver, questionable increases in premium, policy non-renewal and policy cancellation. Whatever your reason, finding the right auto insurance provider is actually quite simple.
Much more information about auto insurance in Kentucky is available on the following sites:
- Shopping for a Safe Car (Insurance Information Institute)
- What Auto Insurance is Cheapest for Drivers with Accidents in Louisville? (FAQ)
- How to Avoid Buying a Flooded Car (Insurance Information Institute)
- Car Insurance FAQ (Trusted Choice)
- Tools for Teen Driving Safety (State Farm)