The words “economical” and “auto insurance” probably shouldn’t be used together, specifically when trying to find the best insurance rates for felons. To save some money, let’s teach you some of the factors the can have a considerable influence on insurance premiums, and figure out some ways to cut the cost of the next policy you buy.
For felons, one of the largest components that are looked at to determine the amount you pay for auto insurance is where your residence is in Louisville. Areas with increased crime or more people tend to have higher auto insurance costs, whereas areas with lower vehicle theft rates and fewer weather claims benefit from lower coverage costs.
The information below ranks the most expensive places in Kentucky for felons to buy auto insurance in. Louisville makes the list at #1 with an annual cost of $2,176 for the average insurance policy, which is approximately $181 per month.
| Rank | City | Annual Rate |
|---|---|---|
| 1 | Louisville | $2,176 |
| 2 | Frankfort | $1,725 |
| 3 | Jeffersontown | $1,719 |
| 4 | Saint Matthews | $1,711 |
| 5 | Ashland | $1,673 |
| 6 | Radcliff | $1,654 |
| 7 | Madisonville | $1,616 |
| 8 | Murray | $1,613 |
| 9 | Elizabethtown | $1,595 |
| 10 | Paducah | $1,583 |
| 11 | Winchester | $1,563 |
| 12 | Danville | $1,549 |
| 13 | Henderson | $1,541 |
| 14 | Richmond | $1,535 |
| 15 | Lexington | $1,514 |
| 16 | Georgetown | $1,506 |
| 17 | Nicholasville | $1,504 |
| 18 | Covington | $1,487 |
| 19 | Hopkinsville | $1,478 |
| 20 | Independence | $1,466 |
| 21 | Erlanger | $1,435 |
| 22 | Florence | $1,427 |
| 23 | Bowling Green | $1,418 |
| 24 | Owensboro | $1,418 |
| 25 | Fort Thomas | $1,397 |
| Quote Best Rates Go | ||
Rates are approximated as vehicle location can modify rates noticeably.
Establishing which company has the cheapest car insurance rates for felons will take more time than just picking a company at random. Every car insurance company has a proprietary formula for filing rates in each state, so to begin we’ll rank the overall cheapest car insurance companies in Kentucky.
Keep in mind that Kentucky car insurance rates are determined by lots of factors which can substantially decrease or increase the policy price. Improving your credit score, buying another vehicle, or getting caught speeding can cause premium changes that may make certain companies more affordable than before.
Best Car Insurance Prices for Felons
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Cincinnati Insurance | $1,082 |
| 2 | Kentucky Farm Bureau | $1,139 |
| 3 | USAA | $1,211 |
| 4 | Auto-Owners | $1,399 |
| 5 | Grange Mutual | $1,561 |
| 6 | Motorists Mutual | $1,569 |
| 7 | Travelers | $1,663 |
| 8 | Westfield | $1,814 |
| 9 | State Farm | $1,867 |
| 10 | Safe Auto | $1,932 |
| 11 | Nationwide | $2,064 |
| 12 | Progressive | $2,077 |
| 13 | Electric | $2,160 |
| 14 | State Auto | $2,254 |
| 15 | Encompass | $2,358 |
| 16 | GEICO | $2,365 |
| 17 | Safeco | $2,709 |
| 18 | Shelter | $3,135 |
| 19 | MetLife | $3,177 |
| 20 | Liberty Mutual | $3,708 |
| Quote Your Rates Go | ||
Cincinnati Insurance may offer some of the best car insurance rates in Louisville at around $1,082 a year. Kentucky Farm Bureau, USAA, Auto-Owners, and Grange Mutual also are some of the lowest-priced Louisville, KY auto insurance companies.
In the above rates, if you currently have coverage with USAA and switched to Cincinnati Insurance, you might achieve an annual premium reduction of upwards of $129. Drivers with Auto-Owners could save as much as $317 a year, and Grange Mutual customers might reduce rates by $479 a year.
If you want to find out if you’re overpaying, click here to start a quote or quote rates from the companies below.
Understand that those premiums are averaged across all drivers and vehicles in Kentucky and and are not calculated with a vehicle location for felons. So the insurer that can offer you the best price may not even be in the top 21 companies shown above. That points out the importance of why you need to compare as many prices as possible using your own driver and vehicle profiles.
The information below highlights how deductible selection can influence insurance costs when searching for cheap insurance for felons. The costs are based on a married female driver, comprehensive and collision coverage, and no discounts are taken into consideration.
In the chart above, a 40-year-old driver could cut expenses by $300 a year by switching the physical damage coverage from a $100 deductible up to a $500 deductible, or save $454 by choosing a $1,000 deductible. Young drivers, like the Age 20 category, could drop their prices up to $744 or more by selecting a higher deductible. When choosing a higher deductible, it is essential to have enough spare savings to enable you to pay the extra out-of-pocket expense, which is the one inconvenience of using high deductibles.
Insurance rate increases from tickets or accidents
The easiest way to earn the best car insurance prices for felons is to be a careful driver and have a clean driving record. The example below shows how violations and at-fault accidents can increase insurance costs for each age group. The data assumes a married female driver, comp and collision included, $1,000 deductibles, and no policy discounts are applied.
The data above shows the average cost of an auto insurance policy per year with no accidents or violations is $1,054. Receive one speeding ticket and the average cost increases to $1,231, an increase of $177 each year. Now throw in two accidents along with the one speeding ticket and the 12-month cost of car insurance for felons jumps again to an average of $2,887. That’s an increase of $1,833, or $153 per month, just for a couple of infractions!
Full coverage versus liability only rates
Buying cheaper car insurance is probably important to most vehicle owners, and one of the quickest ways to pay lower rates for insurance for felons is to only buy liability coverage. The example below visualizes the comparison of annual premium costs when comparing full coverage to liability only. The data is based on no tickets, no at-fault accidents, $500 deductibles, drivers are not married, and no discounts are applied to the premium.
As an overall average, physical damage coverage on your policy costs $2,088 per year more than just buying liability only. That brings up the question if buying full coverage is a waste of money. There is no clear-cut formula to exclude comprehensive and collision coverage on your policy, but there is a guideline you can use. If the annual cost of coverage is more than around 10% of the vehicle’s replacement cost less your deductible, the it may be a good time to stop paying for full coverage.
There are some scenarios where removing full coverage is not financially feasible. If you still owe a portion of the original loan, you must maintain physical damage coverage as part of the loan conditions. Also, if you cannot afford to purchase a different vehicle in the event your current vehicle is totaled, you should not remove full coverage.
The agents shown below can most likely aid you in deciding which insurance coverage will be best for you, since some drivers wish to have some advice when shopping for the best coverage for felons. It can be hard to find the cheapest auto insurance company, so getting professional guidance from a licensed agent can give comfort knowing your policy gives you adequate protection in the event of a claim. To locate an agency in your neighborhood, click the button following the list.
- Milt Nugent – State Farm Insurance Agent
1005 Dupont Square N – Louisville, KY 40207 – (502) 897-6426 - Richard White – State Farm Insurance Agent
2420 Lime Kiln Ln Ste E – Louisville, KY 40222 – (502) 326-9800 - Terryl McCray – State Farm Insurance Agent
1827 W Broadway – Louisville, KY 40203 – (502) 774-3373 - Dick Newton – State Farm Insurance Agent
3110 Taylorsville Rd – Louisville, KY 40205 – (502) 458-9543 - David Franck – State Farm Insurance Agent
8217 Shelbyville Rd – Louisville, KY 40222 – (502) 339-1400