The make and model of vehicle you are seeking coverage for is probably the largest consideration when shopping around for the most affordable car insurance for low credit scores. Vehicles with lower acceleration and performance, advanced safety features, or a low likelihood of liability claims will cost quite a bit less to insure than adrenaline junky models. The data below features car insurance prices for the most economical vehicles to buy insurance for.
| Vehicle Insured | Estimated Cost for Full Coverage |
|---|---|
| Honda Accord LX 4-Dr Sedan | $1,830 |
| Toyota Tacoma 4WD | $2,051 |
| Chevrolet Impala LS | $2,124 |
| Honda CR-V EX-L 2WD | $2,143 |
| Jeep Wrangler Sport 4WD 2-Dr | $2,173 |
| Ford Escape XLS 2WD | $2,238 |
| Hyundai Elantra SE Touring Station Wagon | $2,272 |
| Toyota Prius | $2,318 |
| Jeep Grand Cherokee SRT-8 4WD | $2,321 |
| Chevrolet Silverado LT Crew Cab 4WD | $2,331 |
| Ford Explorer XLT 2WD | $2,351 |
| Ford F-150 Lariat Crew Cab Platinum 4WD | $2,361 |
| Nissan Rogue SL AWD | $2,434 |
| Honda Odyssey LX | $2,456 |
| Toyota Camry Hybrid | $2,477 |
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Table data assumes single female driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Kentucky minimum liability limits. Discounts applied include safe-driver, claim-free, homeowner, multi-policy, and multi-vehicle. Rate information does not factor in specific zip code location which can modify prices noticeably.
Looking at the numbers, you can presume that models like the Honda Accord, Toyota Tacoma, and Chevrolet Impala will definitely be a few of the more affordable vehicles to insure for bad credit.
Trying to buy low-cost auto insurance is not easy, and figuring out which companies offer the cheapest insurance rates for low credit scores involves a bit more work. Each auto insurance company uses their own method to set policy rates, so to begin we’ll rank the insurance companies that tend to have lower prices in Louisville.
Best Car Insurance Prices in Kentucky
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Cincinnati Insurance | $1,093 |
| 2 | Kentucky Farm Bureau | $1,139 |
| 3 | USAA | $1,223 |
| 4 | Auto-Owners | $1,413 |
| 5 | Grange Mutual | $1,609 |
| 6 | Motorists Mutual | $1,617 |
| 7 | Travelers | $1,680 |
| 8 | Westfield | $1,832 |
| 9 | State Farm | $1,867 |
| 10 | Safe Auto | $1,972 |
| 11 | Progressive | $2,077 |
| 12 | Nationwide | $2,085 |
| 13 | Electric | $2,097 |
| 14 | State Auto | $2,188 |
| 15 | Encompass | $2,358 |
| 16 | GEICO | $2,365 |
| 17 | Safeco | $2,763 |
| 18 | MetLife | $3,177 |
| 19 | Shelter | $3,263 |
| 20 | Liberty Mutual | $3,744 |
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Cincinnati Insurance may offer some of the best car insurance rates in Louisville at around $1,093 annually. Kentucky Farm Bureau, USAA, Auto-Owners, and Grange Mutual also make the cut as some of the lowest-priced Louisville, KY insurance companies.
In the above rates, if you currently have a policy with USAA and switched to Cincinnati Insurance, you may see annual savings of in the vicinity of $130. Insureds with Auto-Owners could save as much as $320 a year, and Grange Mutual customers might reduce prices by as much as $516 a year.
To see how much you can save, click here to get quotes or visit any of the low-priced companies below.
Be aware that those policy rates are averages across all types of drivers and the different vehicles they drive and do not take into consideration an exact location for low credit scores. So the car insurance company that fits you best may not even be in the top 21 companies in the list above. That illustrates why you need to get quotes using your own specific driver and vehicle information.
For bad credit, one of the largest factors that aid in calculating the cost of insurance is the neighborhood you call home in Louisville. Regions with larger populations or more claims tend to have higher rates, whereas areas that tend to be more rural have the benefit of cheaper car insurance.
The table below sorts the most expensive areas in Kentucky for low credit scores to purchase a policy in. Louisville is ranked at #1 with an annual rate of $2,112 for coverage, which is approximately $176 monthly.
| Rank | City | Average Per Year |
|---|---|---|
| 1 | Louisville | $2,112 |
| 2 | Frankfort | $1,742 |
| 3 | Ashland | $1,707 |
| 4 | Jeffersontown | $1,685 |
| 5 | Saint Matthews | $1,660 |
| 6 | Radcliff | $1,654 |
| 7 | Paducah | $1,631 |
| 8 | Murray | $1,597 |
| 9 | Elizabethtown | $1,563 |
| 10 | Henderson | $1,557 |
| 11 | Madisonville | $1,552 |
| 12 | Hopkinsville | $1,538 |
| 13 | Richmond | $1,535 |
| 14 | Danville | $1,534 |
| 15 | Covington | $1,532 |
| 16 | Nicholasville | $1,519 |
| 17 | Lexington | $1,514 |
| 18 | Winchester | $1,501 |
| 19 | Georgetown | $1,491 |
| 20 | Florence | $1,471 |
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Price information shown is comparative as the vehicle garaging location can change premium rates greatly.
How to get discounts on Louisville insurance
Insurance companies that offer coverage for low credit scores may also provide discounts that could lower prices by 30% or more if you meet certain criteria. A list of companies and their possible discounts can be read below.
- Farmers Insurance has discounts for alternative fuel, distant student, good student, early shopping, bundle discounts, business and professional, and youthful driver.
- Esurance offers premium reductions for good student, emergency road assistance, DriveSense, good driver, claim free, online shopper, and paid-in-full.
- State Farm offers discounts for driver’s education, Drive Safe & Save, good driver, passive restraint, defensive driving training, safe vehicle, and multiple policy.
- GEICO has savings for multi-vehicle, federal employee, air bags, good student, and seat belt use.
- Allstate may offer discounts for utility vehicle, senior citizen, early signing, auto/life discount, anti-lock brakes, and new car.
The chart below illustrates the difference between car insurance costs with and without policy discounts. The premiums are based on a female driver, no accidents, no driving violations, Kentucky state minimum liability limits, full physical damage coverage, and $250 deductibles.
The first bar for each age group shows insurance cost with no discounts. The second shows the rates with homeowner, anti-theft, marriage, passive restraint, defensive driving course, and claim-free discounts applied. In this example, the average amount saved each year on insurance for low credit scores is 28% or $605.
The chart below demonstrates how deductible levels can change insurance rates when researching cheap insurance for low credit scores. The premium estimates are based on a single female driver, full coverage, and no other discounts are factored in.
A 40-year-old driver could reduce rates by $362 a year by changing from a $100 deductible to a $500 deductible, or save $546 by switching to a $1,000 deductible. Youthful drivers, like the 20-year-old, have the ability to save as much as $920 or more by choosing larger deductibles on their policy. When insureds make the decision to increase the deductibles on their policy, it is essential to have enough spare savings to enable you to cover the extra out-of-pocket expense associated with higher deductibles.
Bad driving habits will cost you more
The best way to earn the cheapest insurance rates in Kentucky for bad credit is to be an attentive driver and have a clean driving record. The diagram below demonstrates how citations and accidents can influence premium costs for different age groups of insureds. The data assumes a married female driver, full physical damage coverage, $250 deductibles, and no additional discounts are factored in.
In the prior example, the average cost of a car insurance policy in Louisville per year with no violations or accidents is $1,325. Get one speeding ticket and the average cost hikes up to $1,542, an increase of $217 each year. Now add in one accident along with the one speeding ticket and the 12-month cost of insurance for low credit scores goes up to an average of $2,148. That’s an increase of $822, or $69 per month, just for not keeping your driving record clean!
Ideas for finding the cheapest insurance for low credit scores
Below you’ll find some of the recommended money-saving ideas that can help you find more affordable coverage.
- Avoid filing excessive claims
- Buy a safer vehicle
- At-fault accidents will increase rates
- Pay cheaper rates with good credit scores
- Serious violations like DUI or reckless driving can increase rates dramatically
- Keep rates low by comparing prices once a year
The last tip is extraordinarily necessary, as was stressed in this article. Prices charged by auto insurers vary greatly, so don’t hesitate to buy a policy from a new company if a cheaper rate is available.
Having a favorite company is great, but we do not recommend it if that loyalty results in overpaying potentially thousands of dollars a year. It only takes a couple minutes to compare prices to find cheaper car insurance for low credit scores in Louisville.