The words “cheap” and “insurance” really shouldn’t be used in the same sentence, in particular when you are looking for the best price on coverage for 17 year olds. To help control this cost, let’s go over some of the factors that determine insurance premiums, and find out if you can reduce the cost of the next policy you buy.
Determining which companies offer the most affordable insurance rates for 17 year olds calls for more work in order to find the lowest price. Each auto insurance company has a unique approach to determine rates, so we will examine the lowest cost insurance companies in Kentucky.
Keep in mind that Kentucky insurance rates are based on many factors which can significantly increase or decrease the price of your policy. Simply having a birthday, adding a teenager to your policy, or getting a couple of tickets can trigger changes in premium that can cause some rates to be cheaper than competitors.
Best Cheap Insurance Rates for Teens
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Cincinnati Insurance | $1,115 |
| 2 | Kentucky Farm Bureau | $1,139 |
| 3 | USAA | $1,187 |
| 4 | Auto-Owners | $1,413 |
| 5 | Grange Mutual | $1,561 |
| 6 | Motorists Mutual | $1,617 |
| 7 | Travelers | $1,631 |
| 8 | State Farm | $1,848 |
| 9 | Westfield | $1,888 |
| 10 | Safe Auto | $1,972 |
| 11 | Nationwide | $2,064 |
| 12 | Electric | $2,076 |
| 13 | Progressive | $2,140 |
| 14 | State Auto | $2,188 |
| 15 | Encompass | $2,312 |
| 16 | GEICO | $2,341 |
| 17 | Safeco | $2,709 |
| 18 | MetLife | $3,084 |
| 19 | Shelter | $3,231 |
| 20 | Liberty Mutual | $3,708 |
| View More Rates Go | ||
Cincinnati Insurance may have some of the lowest car insurance rates in Louisville at around $1,115 a year. Kentucky Farm Bureau, USAA, Auto-Owners, and Grange Mutual also make the cut as some of the best Louisville, KY insurance companies.
As shown above, if you are insured with Grange Mutual and switched to Kentucky Farm Bureau, you could see savings of roughly $422. Drivers with Motorists Mutual could save as much as $478 a year, and Travelers customers might realize rate reductions of up to $492 a year.
If you want to see how much you could save, click here to get a free quote or click through to the companies below.
It’s important to note that these prices are averaged for all types of drivers and the different vehicles they drive and are not factoring in a specific zip code for 17 year olds. So the auto insurance company that can offer you the lowest price may not even be in the top 21 companies shown above. That helps illustrate why you need to quote rates from as many companies as possible using your own personalized driver profile and vehicle information.
For teen drivers, one of the more important components that determine auto insurance rates is your address in Louisville. Areas with more people or more claims tend to pay slightly more, whereas areas with lower crime rates and fewer weather claims receive better rates.
The following table rates the highest-priced places in Kentucky for 17 year olds in which to purchase auto insurance. Louisville comes in at #1 with an annual rate of $2,176 for the average insurance policy, which is around $181 monthly.
| Rank | City | Average Per Year |
|---|---|---|
| 1 | Louisville | $2,176 |
| 2 | Frankfort | $1,725 |
| 3 | Saint Matthews | $1,694 |
| 4 | Ashland | $1,673 |
| 5 | Jeffersontown | $1,668 |
| 6 | Elizabethtown | $1,611 |
| 7 | Radcliff | $1,606 |
| 8 | Madisonville | $1,600 |
| 9 | Paducah | $1,599 |
| 10 | Danville | $1,581 |
| 11 | Murray | $1,565 |
| 12 | Winchester | $1,563 |
| 13 | Hopkinsville | $1,523 |
| 14 | Covington | $1,517 |
| 15 | Georgetown | $1,506 |
| 16 | Henderson | $1,495 |
| 17 | Richmond | $1,490 |
| 18 | Florence | $1,471 |
| 19 | Independence | $1,466 |
| 20 | Erlanger | $1,463 |
| 21 | Bowling Green | $1,461 |
| 22 | Nicholasville | $1,459 |
| 23 | Lexington | $1,454 |
| 24 | Fort Thomas | $1,440 |
| 25 | Owensboro | $1,390 |
| Compare Prices Now Go | ||
Annual rates are estimated as the vehicle garaging location can raise or lower premium rates noticeably.
The car, truck, or SUV requiring insurance is probably the largest consideration when comparing quotes for low-priced insurance for 17 year olds. Vehicles with high performance, a lack of modern safety features, or a track record of large liability claims will cost quite a bit more to insure than more modest models.
The next table outlines coverage premiums for a number of the more affordable automobiles to buy coverage for.
| Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Honda Accord LX-P 4-Dr Sedan | $7,484 |
| Ford Escape Limited 2WD | $7,561 |
| Honda CR-V EX-L 4WD | $7,569 |
| Toyota Prius | $8,129 |
| Jeep Wrangler Sport Islander Package 4WD 2-Dr | $8,313 |
| Dodge Grand Caravan CV | $8,390 |
| Ford F-150 XL Crew Cab 4WD | $8,469 |
| Ford Edge Limited 2WD | $8,801 |
| Chevrolet Equinox LS AWD | $8,878 |
| Toyota RAV4 Sport 2WD | $8,887 |
| GMC Sierra SLE Regular Cab 2WD | $8,878 |
| Nissan Altima 2.5 4-Dr Sedan | $8,887 |
| Chevrolet Impala LT | $8,878 |
| Chevrolet Malibu LT | $8,958 |
| Toyota Tacoma Double Cab TRD Sport Package 4WD | $8,968 |
| Ford Explorer Limited AWD | $8,958 |
| Hyundai Elantra SE 4-Dr Sedan | $9,366 |
| Toyota Corolla S | $9,375 |
| Toyota Camry SE | $9,366 |
| Honda Odyssey EX-L | $9,375 |
| Jeep Grand Cherokee Limited 4WD | $9,446 |
| Volkswagen Jetta 2.0T 4-Dr Sedan | $9,453 |
| Chevrolet Silverado 3500HD LT Crew Cab 2WD | $9,525 |
| Find Cheaper Rates Go | |
Table data represents single male driver age 17, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Kentucky minimum liability limits. Discounts applied include safe-driver, and claim-free. Estimates do not factor in specific zip code location which can impact price quotes noticeably.
Based upon the rates shown, vehicles like the Honda Accord, Ford Escape, and Honda CR-V are most likely to be a few of the most budget-friendly vehicles to insure for teen drivers. The cost of auto insurance will be more costly just due to the fact that there is more liability risk for 17 year olds, but overall those makes and models will tend to have the cheapest auto insurance rates that you’ll find.
The diagram below shows how different deductible levels can change yearly insurance costs when getting quotes for cheap insurance for 17 year olds. The premiums assume a single female driver, comp and collision included, and no additional discounts are factored in.
As shown above, a 50-year-old driver could lower their policy premium by $310 a year by switching their comprehensive and collision coverages from a $100 deductible up to a $500 deductible, or save $468 by changing to a $1,000 deductible. Young drivers, like the age 20 example, could save up to $788 each year by using a higher deductible. When insureds make the decision to increase the deductibles on their policy, it is important to have enough savings to be able to pay the extra out-of-pocket expense, which is the main drawback of higher deductibles.
Impact of citations and accidents on Louisville insurance rates
The recommended way to find cheap insurance rates in Kentucky for teen drivers is to be an attentive driver and have a clean driving record. The example below shows how violations and accidents increase yearly insurance costs for each age group. The price estimates are based on a married male driver, full coverage, $250 deductibles, and no discounts are factored in.
The data charted above shows the average cost of car insurance in Kentucky per year with no accidents and a clean driving record is $1,623. Get written up for one speeding ticket and the average cost increases to $1,859, an increase of $237 each year. Then throw in two accidents along with the one speeding ticket and the annual cost of insurance for 17 year olds increases to an average of $3,856. That’s an increase of $2,233, or $186 per month, just for not being attentive to the road!
How to find low-cost insurance for 17 year olds
The list below shows a few penny-pinching suggestions that can help you buy lower-cost coverage.
- Claim-free policyholders usually earn a discount
- Buy vehicles with five-star safety ratings
- Do not get traffic citations
- Accident-free drivers may qualify for discounts
- Bundle car and home insurance and save money
- Compare prices frequently to find the best deal
That last idea is incredibly important, as was affirmed in the prior information. Coverage prices in Louisville change constantly, so don’t hesitate to change insurance companies if you can find a cheaper rate.
Many consumers stick with the same company and that’s fine, but is isn’t recommended if that devotion results in you overpaying hundreds of dollars a year. Now is a great time to shop around to find cheaper auto insurance for 17 year olds.
If you aren’t sure which coverage you need and prefer to have a professional recommendation when shopping around for cheaper insurance for teen drivers, the agencies below can answer your questions and help you decide which auto insurance policy fits you best. To find an agent using an interactive map, click the button below the list or click here to compare rates now.
- Claude Reynolds Insurance
6801 Dixie Hwy #232 – Louisville, KY 40258 – (502) 933-2255 - Dave Goodman – State Farm Insurance Agent
1906 Crums Ln – Louisville, KY 40216 – (502) 448-5436 - Dave Metzger – State Farm Insurance Agent
6015 Bardstown Rd – Louisville, KY 40291 – (502) 239-4800