For drivers in Louisville, one of the largest things that help determine the amount you pay each year for auto insurance is where you keep your vehicle. Areas with high crime rates or more dense population will most likely pay more, whereas areas with lower vehicle theft rates and fewer weather claims tend to receive slightly lower rates.
The next table ranks the most expensive cities in Kentucky to purchase car insurance in. Louisville shows up at #1 with a yearly cost of $2,154 for the average policyholder, which is approximately $180 monthly.
| Rank | City | Annual Rate |
|---|---|---|
| 1 | Louisville | $2,154 |
| 2 | Frankfort | $1,742 |
| 3 | Saint Matthews | $1,711 |
| 4 | Jeffersontown | $1,668 |
| 5 | Ashland | $1,656 |
| 6 | Paducah | $1,631 |
| 7 | Murray | $1,613 |
| 8 | Radcliff | $1,606 |
| 9 | Elizabethtown | $1,595 |
| 10 | Danville | $1,581 |
| 11 | Madisonville | $1,552 |
| 12 | Henderson | $1,541 |
| 13 | Georgetown | $1,536 |
| 14 | Hopkinsville | $1,523 |
| 15 | Richmond | $1,520 |
| 16 | Nicholasville | $1,504 |
| 17 | Winchester | $1,501 |
| 18 | Lexington | $1,499 |
| 19 | Erlanger | $1,478 |
| 20 | Bowling Green | $1,476 |
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Rate information is approximated as specific Louisville garaging address can decrease or increase auto insurance rates considerably.
Knowing where Louisville ranks compared to other cities, trying to find cheap car insurance is challenging, and figuring out which companies quote the best insurance rates in Louisville takes a little more work. Each auto insurance company has their own process for determining rates, so first let’s look at the rankings for the insurance companies with the overall cheapest rates in Louisville.
Best Insurance Companies in Louisville
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Cincinnati Insurance | $1,093 |
| 2 | Kentucky Farm Bureau | $1,139 |
| 3 | USAA | $1,175 |
| 4 | Auto-Owners | $1,413 |
| 5 | Motorists Mutual | $1,553 |
| 6 | Grange Mutual | $1,577 |
| 7 | Travelers | $1,631 |
| 8 | Westfield | $1,832 |
| 9 | State Farm | $1,848 |
| 10 | Safe Auto | $1,913 |
| 11 | Progressive | $2,056 |
| 12 | Nationwide | $2,085 |
| 13 | Electric | $2,160 |
| 14 | State Auto | $2,188 |
| 15 | Encompass | $2,288 |
| 16 | GEICO | $2,437 |
| 17 | Safeco | $2,709 |
| 18 | MetLife | $3,146 |
| 19 | Shelter | $3,263 |
| 20 | Liberty Mutual | $3,708 |
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Cincinnati Insurance normally has some of the lowest car insurance rates in Louisville at around $1,093 each year. Kentucky Farm Bureau, USAA, Auto-Owners, and Motorists Mutual also make the cut as some of the lowest-priced Louisville, KY insurance companies.
As the example above demonstrates, if you are a policyholder with Kentucky Farm Bureau and switched to Cincinnati Insurance, you may realize a yearly savings of about $46. Drivers with USAA could save as much as $82 a year, and Auto-Owners policyholders might cut rates by $320 a year.
Remember that these rates are averages across all drivers and vehicles and are not factoring in a specific zip code in Louisville. So the insurer that has the cheapest price for you may not even be in the top 21 companies shown above. That points out the importance of why you need to compare prices as often as possible using your own individual information.
The benefit of shopping around
Louisville, KY insurance rates are impacted by many factors that can increase the price you pay. Simply getting older, moving to a new city, or getting caught speeding can trigger rate changes that may make certain companies cheaper in comparison to the competition.
Not only that, but insurers file new Kentucky car insurance rates without warning to ensure their profitability. Significantly higher losses may result in price increases, while a profitable period can result in cheaper Louisville car insurance rates.
For instance, the graph below shows the companies that have the cheapest car insurance in Louisville, KY for a 30-year-old female driver with no prior claims, no tickets, and a high credit rating. If we compare prices based on her personal risk profile, Cincinnati Insurance might offer the most affordable car insurance rates in Louisville at $1,694 per year. This is $449 less than the average rate paid by Kentucky drivers of $2,143. Kentucky Farm Bureau, USAA, Auto-Owners, and Motorists Mutual are the rest of the most affordable Louisville, KY auto insurance companies.
The next chart shows rates after we give the driver from the first set of rates an accident surcharge, a lower credit rating, and an imperfect driving record. Since each auto insurance company has a different process for filing rates in each state, comparing quotes may now present a new list of affordable Louisville car insurance companies as shown below.
USAA now has the lowest price on auto insurance in Louisville, KY with Travelers, Kentucky Farm Bureau, Westfield, and State Farm now rounding out the top five. This example illustrates why Kentucky drivers need to spend some time comparing rates when trying to get cheap car insurance rates in Louisville. Car insurance prices are determined by many factors and can change substantially, so the best price three years ago may now be priced much higher than other options.
The vehicle model needing coverage is a significant factor that determines whether or not you find affordable coverage in Louisville. Vehicles with limited speed and performance, a great safety record, or low incidents of liability claims will cost less to insure than fast, unsafe models.
The table below ranks insurance prices for a selection of the most economical automobiles to insure.
| Vehicle Insured | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V EX 2WD | $1,817 |
| Ford Escape Limited 4WD | $1,972 |
| Dodge Grand Caravan SE | $2,036 |
| Honda Accord LX 4-Dr Sedan | $2,054 |
| Ford Focus S 4-Dr Sedan | $2,112 |
| Toyota RAV4 Limited 4WD | $2,152 |
| Toyota Camry LE | $2,162 |
| Ford Edge SE 2WD | $2,179 |
| Honda Odyssey LX | $2,261 |
| Ford F-150 XL Crew Cab 4WD | $2,273 |
| Toyota Prius | $2,276 |
| Toyota Corolla XRS | $2,310 |
| Nissan Altima Hybrid 4-Dr Sedan | $2,320 |
| GMC Sierra SLT Extended Cab 2WD | $2,310 |
| Chevrolet Impala LT | $2,355 |
| Toyota Tacoma Double Cab TRD Off-Road Package 4WD | $2,401 |
| Ford Explorer Limited AWD | $2,407 |
| Jeep Wrangler Unlimited Sport 4WD 4-Dr | $2,416 |
| Nissan Rogue SL AWD | $2,419 |
| Hyundai Sonata SE 4-Dr Sedan | $2,425 |
| Ford Fusion S 4-Dr Sedan | $2,428 |
| Chevrolet Equinox LS AWD | $2,436 |
| Hyundai Elantra Blue 4-Dr Sedan | $2,437 |
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Data based on single male driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Kentucky minimum liability limits. Discounts applied include claim-free, multi-policy, homeowner, multi-vehicle, and safe-driver. Table data does not factor in vehicle garaging location which can modify price quotes noticeably.
Looking at the numbers, you can infer that models like the Honda CR-V, Ford Escape, Dodge Grand Caravan, and Honda Accord are most likely to be the most economical vehicles to insure for drivers in Louisville.
Get discounts on Louisville car insurance rates
Insurers that offer cheap quotes in Louisville may provide price discounts that could potentially reduce rates by 30% or more if you can meet the requirements. The best insurance companies and some of their more popular discounts include:
- State Farm includes discounts for Drive Safe & Save, multiple policy, multiple autos, student away at school, safe vehicle, passive restraint, and Steer Clear safe driver discount.
- Liberty Mutual may include discounts for multi-policy, newly married, hybrid vehicle, teen driver discount, and exclusive group savings.
- American Family offers discounts including defensive driver, bundled insurance, Steer into Savings, accident-free, and TimeAway discount.
- Progressive has savings for homeowner, continuous coverage, online quote discount, good student, multi-policy, multi-vehicle, and online signing.
- Farmers Insurance discounts include electronic funds transfer, homeowner, switch companies, youthful driver, mature driver, business and professional, and multi-car.
- Auto-Owners Insurance may have discounts that include mature driver, good student, anti-theft, multiple vehicles, company car, and teen driver.
- SAFECO offers premium reductions for drive less, accident prevention training, teen safe driver, anti-lock brakes, and bundle discounts.
The chart below compares premium costs with and without discounts being applied to the rates. The rates are based on a female driver, no tickets, no at-fault accidents, Kentucky state minimum liability limits, full coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The lower bar shows the rates with claim-free, accident-free, anti-theft, homeowner, marriage, and vehicle safety discounts applied. When these discounts are applied to the policy premium, the average savings per year on insurance in Louisville is 28% or $545.
The illustration below shows how different deductible levels can raise or lower insurance costs when searching for cheap insurance in Louisville. The premium estimates are based on a married female driver, comprehensive and collision coverage, and no policy discounts are applied.
In the chart above, a 40-year-old driver could pocket $310 a year by increasing from a $100 deductible to a $500 deductible, or save $470 by switching to a $1,000 deductible. Younger drivers, like the age 20 example, can save $770 each year by selecting a higher deductible.
If you do decide to increase your deductibles, it will now be necessary to have enough savings to enable you to pay the extra out-of-pocket expense, which is the one shortcoming of high deductibles.
How to find more affordable car insurance in Louisville
The list below shows some of the recommended penny-pinching ideas that can help Kentucky drivers quote cheaper coverage.
- Vehicles with good safety ratings are usually cheaper to insure
- Serious violations like DUI or reckless driving can increase rates dramatically
- Remove physical damage coverage on older vehicles
- Raise deductibles to save money
- Avoid having at-fault accidents
- Better credit rating means better rates
- Shop around and save
The last idea is notably critical, as was stressed in the article above. Prices charged by car insurance companies adjust often, so don’t be tentative to change to a new company if a more affordable price is available.
Being loyal to a particular company is commendable, but is isn’t recommended if it’s costing you hundreds of dollars year after year. Take a few minutes and shop around and find cheaper insurance in Louisville in Louisville.
The agencies below are a good start to help you make a decision which policy fits your needs best, since lots of drivers aren’t clear which coverage they need and would like to get some professional input when shopping around for cheaper insurance for drivers in Louisville. It’s not always easy to find the cheapest car insurance policy, so a licensed agent can give you satisfaction knowing your coverage gives you suitable coverage if you ever need to use it.
To find an agent near you, click the button at the bottom or click here to compare price quotes now.
- Sam Wheeler – State Farm Insurance Agent
2902 Bardstown Rd – Louisville, KY 40205 – (502) 459-9700 - Nationwide Insurance: Christopher James Parsons Agency
10300 Brookridge Village Blvd Ste 103 – Louisville, KY 40291 – (502) 239-5054 - Dolack Insurance Agency Inc.
4050 Westport Rd – Louisville, KY 40207 – (502) 333-0577 - Mary Henry – State Farm Insurance Agent
5800 Bardstown Rd – Louisville, KY 40291 – (502) 491-7797 - Robin Brown – State Farm Insurance Agent
4209 Shelbyville Rd, Ste B – Louisville, KY 40207 – (502) 897-6476