One of the many criteria that aid in calculating car insurance rates is where you call home in Louisville. Areas with a lot of weather claims or more people will most likely have higher rates, whereas areas that tend to be more rural have the luxury of cheap car insurance rates.
The illustration below rates the most expensive areas in Kentucky for Lyft drivers to buy car insurance in. Louisville ranks #1 with the annual price of $2,176 for car insurance, which is approximately $181 each month.
| Rank | City | Average Per Year |
|---|---|---|
| 1 | Louisville | $2,176 |
| 2 | Frankfort | $1,725 |
| 3 | Jeffersontown | $1,719 |
| 4 | Ashland | $1,707 |
| 5 | Saint Matthews | $1,660 |
| 6 | Radcliff | $1,606 |
| 7 | Paducah | $1,583 |
| 8 | Madisonville | $1,552 |
| 9 | Danville | $1,549 |
| 10 | Murray | $1,549 |
| 11 | Elizabethtown | $1,547 |
| 12 | Covington | $1,532 |
| 13 | Lexington | $1,514 |
| 14 | Georgetown | $1,506 |
| 15 | Winchester | $1,501 |
| 16 | Henderson | $1,495 |
| 17 | Hopkinsville | $1,493 |
| 18 | Richmond | $1,490 |
| 19 | Independence | $1,480 |
| 20 | Bowling Green | $1,476 |
| 21 | Erlanger | $1,463 |
| 22 | Nicholasville | $1,459 |
| 23 | Florence | $1,441 |
| 24 | Owensboro | $1,418 |
| 25 | Fort Thomas | $1,412 |
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Annual rates are approximated as the specific area where the vehicle is garaged can decrease or increase coverage rates substantially.
The vehicle model you are insuring is probably the largest consideration that determines whether or not you find economical coverage for Lyft drivers. Vehicles with lots of speed or power, poor passenger safety features, or a history of substantial liability claims will cost more to insure than safer, lower-performance models. The next table ranks insurance costs for a selection of the most affordable automobiles to buy coverage for.
| Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLS 2WD | $1,723 |
| Toyota Prius | $1,915 |
| Toyota Tacoma 4WD | $1,936 |
| Honda CR-V LX 2WD | $1,945 |
| Jeep Wrangler Sport 4WD 2-Dr | $1,948 |
| Ford F-150 STX Super Cab 4WD | $1,975 |
| Volkswagen Jetta LE 4-Dr Sedan | $2,049 |
| Hyundai Elantra Blue 4-Dr Sedan | $2,117 |
| Honda Odyssey EX | $2,194 |
| Ford Focus SE 4-Dr Sedan | $2,203 |
| Chevrolet Equinox LTZ 2WD | $2,197 |
| Ford Explorer Eddie Bauer 2WD | $2,204 |
| GMC Sierra SLE Regular Cab 4WD | $2,197 |
| Dodge Grand Caravan Hero | $2,238 |
| Toyota RAV4 Sport 4WD | $2,247 |
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Prices based on single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Kentucky minimum liability limits. Discounts applied include homeowner, multi-vehicle, claim-free, safe-driver, and multi-policy. Price estimates do not factor in specific garaging location which can decrease or increase insurance rates noticeably.
Looking at the data, cars like the Ford Escape, Toyota Prius, Toyota Tacoma, and Honda CR-V are most likely going to be a few of the most affordable vehicles to insure for Lyft vehicles.
Choosing the highest-rated car insurance company can be difficult considering how many different companies insure vehicles in Louisville. The company rank data shown next may help you choose which companies you want to consider comparing prices from. The rankings below only include companies that insure vehicles across America, so companies that only write business in Kentucky or surrounding areas will not be included in this list.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| Travelers | 93 | 98 | 99 | 88% | A++ | 95.1 |
| USAA | 83 | 99 | 100 | 91% | A++ | 94.1 |
| AAA Insurance | 91 | 95 | 92 | 90% | A | 93.3 |
| Nationwide | 85 | 95 | 97 | 89% | A+ | 92.4 |
| Allstate | 77 | 100 | 97 | 88% | A+ | 90.7 |
| State Farm | 80 | 94 | 96 | 88% | A++ | 90.6 |
| The Hartford | 88 | 93 | 91 | 87% | A+ | 90.4 |
| Safeco Insurance | 91 | 95 | 85 | 88% | A | 90.2 |
| Progressive | 88 | 94 | 83 | 88% | A+ | 90.1 |
| American Family | 91 | 86 | 95 | 83% | A | 89.7 |
| Compare Rates Now Go | ||||||
Data Source: Insure.com Best Car Insurance Companies
Insurance rates are higher with tickets and accidents
The recommended way to receive cheap insurance premiums for Lyft vehicles is to be a safe driver and avoid accidents and violations. The information below demonstrates how traffic citations and at-fault accidents can drive up auto insurance rates for each different age group. The costs are based on a married female driver, full physical damage coverage, $500 deductibles, and no discounts are applied to the premium.
The data in the chart shows the average cost of an auto insurance policy per year with a clean driving record and no accidents is $1,573. Receive two speeding tickets and the average cost jumps to $2,234, an increase of $661 each year. Now include two accidents along with the two speeding tickets and the 12-month cost of insurance for Lyft drivers goes up to an average of $4,835. That’s an increase of $3,262, or $272 per month, just for being a less-than-perfect driver!
The benefits of price comparisons
Louisville, KY insurance rates are influenced by many factors that may substantially change the price of your policy. Simply having a birthday, buying a different home, or getting a ticket for running a stop sign may prompt premium changes resulting in some companies being more affordable than others.
Not only that, but auto insurance companies file new Kentucky car insurance rates multiple times each year in order to maintain liquidity for claims. Significantly higher claims may cause rate increases, while lower claim expenses may produce cheaper Louisville car insurance rates.
To illustrate this example, the bar chart below compares the cheapest car insurance in Louisville, KY for a 30-year-old male driver with a clear driving record, no claims, and great credit. When quoting prices based on his personal profile, Cincinnati Insurance might quote the cheapest car insurance rates in Louisville at $1,601 per year. This is $542 less than the average rate paid by Kentucky drivers of $2,143. Kentucky Farm Bureau, USAA, Auto-Owners, and Grange Mutual are the remainder of the top five cheapest Louisville, KY auto insurance companies.
Now we will give the driver from above an accident claim, less-than-perfect credit, and a couple of points charged on his driving record. Due to the fact that every auto insurer has their own guidelines for establishing rates, comparing rates may now result in a different set of companies as shown below.
Travelers now has the cheapest auto insurance in Louisville, KY with Kentucky Farm Bureau, USAA, Cincinnati Insurance, and State Farm also having competitive pricing. This example shows why Kentucky drivers need to compare lots of rates to find the lowest car insurance rates for Lyft drivers.
Insurance prices consist of many things and change substantially, so the lowest-price company a year ago may now be one of the more expensive options.
If you have coverage questions and would like to have a professional recommendation when shopping for the best coverage for Lyft vehicles, the agencies below are a good start to help you make a decision which coverage meets your needs best.
To locate an agency near you, click the link at the bottom or click here to compare rates now.
Mary Henry – State Farm Insurance Agent
5800 Bardstown Rd – Louisville, KY 40291 – (502) 491-7797
Louisville Kentucky Insurance
4500 Dixie Hwy – Louisville, KY 40216 – (502) 447-3711
Phil Brown Insurance Agency, Inc.
9300 Shelbyville Rd #1004 – Louisville, KY 40222 – (502) 327-6966
Matt Miller – State Farm Insurance Agent
8321 Preston Hwy – Louisville, KY 40219 – (502) 964-6288
Ivy Brito – State Farm Insurance Agent
4919 Dixie Hwy b – Louisville, KY 40216 – (502) 449-1362
View map of Louisville, KY insurance agents
How to find budget-friendly auto insurance for Lyft drivers
It is possible to find better rates, and here are a few thrifty ideas that can help Louisville drivers quote lower-cost coverage.
- Drive vehicles with five-star safety ratings
- Drop full coverage on older vehicles
- Bundle home or renters insurance to earn a discount on car insurance
- Increase your credit rating
- Avoid having at-fault accidents
- Comparison shop at least once a year
The last tip is notably valuable, as was noted in this article. Coverage rates in Louisville can change considerably based on profitability, so don’t be tentative to buy from a new company if a cheaper price is available.
Having a favorite company is great, but it’s not a good idea if that loyalty results in overpaying potentially thousands of dollars a year. Spend a few minutes and compare rates and find cheaper insurance for Lyft drivers.