This would be a really short article if we could just tell you the company that has the rock bottom lowest rates in Kentucky. It’s not that simple, unfortunately, as there are a ton of unknown factors like the number of miles you drive each year, whether you are married or single, what your desired deductibles are, and the performance level of your vehicle, that all have an effect on the price. In this article, we will cover the causes of high insurance rates and will give you a solid foundation to find cheaper car insurance in Louisville.
The type of vehicle on the policy is probably the most important factor when shopping around for the cheapest car insurance for veterans. Vehicles with limited speed and performance, a great safety record, or a positive history of liability claims will cost substantially less to insure than fast, unsafe models.
The next table presents car insurance prices for a handful of the most budget-friendly automobiles to insure in Kentucky.
| Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V LX 4WD | $1,759 |
| Toyota Prius | $1,954 |
| Ford Escape XLT 4WD | $1,975 |
| Ford Explorer Eddie Bauer 2WD | $1,978 |
| Hyundai Elantra GLS Touring Station Wagon | $1,987 |
| Toyota RAV4 2WD | $2,091 |
| Chevrolet Equinox LS 2WD | $2,098 |
| Honda Accord EX-L 4-Dr Sedan | $2,100 |
| Volkswagen Jetta S 2.5 Station Wagon | $2,148 |
| Jeep Wrangler Unlimited Sport 4WD 4-Dr | $2,151 |
| Ford Edge SE 2WD | $2,190 |
| Ford F-150 Lariat King Ranch 2WD | $2,244 |
| Ford Fusion Sport 4-Dr Sedan | $2,250 |
| Nissan Altima 3.5 SR 4-Dr Sedan | $2,244 |
| GMC Sierra 2500HD SLE Regular Cab 4WD | $2,250 |
| Honda Odyssey EX | $2,301 |
| Chevrolet Impala LS | $2,310 |
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Data 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, multi-policy, claim-free, and safe-driver. Estimates do not factor in garaging location in Louisville, KY which can change price quotes noticeably.
Looking at the numbers, models like the Honda CR-V, Toyota Prius, and Ford Escape will definitely be some of the cheaper vehicles to insure for veterans.
One of the more important components that help determine the amount you pay for auto insurance is your address in Louisville. More populated areas tend to have more expensive auto insurance rates, whereas areas with lower vehicle theft rates and fewer weather claims benefit from lower rates.
The information below shows the most costly cities in Kentucky for veterans to buy car insurance in. Louisville is listed at #1 with an annual cost of $2,090 on average, which is about $174 monthly.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | Louisville | $2,090 |
| 2 | Frankfort | $1,742 |
| 3 | Saint Matthews | $1,694 |
| 4 | Jeffersontown | $1,668 |
| 5 | Ashland | $1,656 |
| 6 | Paducah | $1,631 |
| 7 | Radcliff | $1,606 |
| 8 | Madisonville | $1,600 |
| 9 | Murray | $1,597 |
| 10 | Danville | $1,596 |
| 11 | Elizabethtown | $1,563 |
| 12 | Winchester | $1,501 |
| 13 | Henderson | $1,495 |
| 14 | Hopkinsville | $1,493 |
| 15 | Georgetown | $1,491 |
| 16 | Richmond | $1,475 |
| 17 | Covington | $1,472 |
| 18 | Florence | $1,471 |
| 19 | Independence | $1,466 |
| 20 | Bowling Green | $1,461 |
| 21 | Nicholasville | $1,459 |
| 22 | Lexington | $1,454 |
| 23 | Erlanger | $1,435 |
| 24 | Owensboro | $1,418 |
| 25 | Fort Thomas | $1,412 |
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Rate information is estimated as the vehicle garaging location can lower or raise auto insurance rates considerably.
Finding out which company quotes the cheapest car insurance rates for veterans involves more work in order to find a policy that fits your budget. Each auto insurance company has a different formula for determining rates, so let’s take a look at the most budget-friendly car insurance companies in Louisville.
Find the Cheapest Car Insurance for Vets
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Cincinnati Insurance | $1,082 |
| 2 | Kentucky Farm Bureau | $1,174 |
| 3 | USAA | $1,175 |
| 4 | Auto-Owners | $1,413 |
| 5 | Motorists Mutual | $1,569 |
| 6 | Grange Mutual | $1,577 |
| 7 | Travelers | $1,614 |
| 8 | Westfield | $1,814 |
| 9 | State Farm | $1,867 |
| 10 | Safe Auto | $1,991 |
| 11 | Nationwide | $2,003 |
| 12 | Electric | $2,076 |
| 13 | Progressive | $2,077 |
| 14 | State Auto | $2,166 |
| 15 | Encompass | $2,288 |
| 16 | GEICO | $2,365 |
| 17 | Safeco | $2,763 |
| 18 | MetLife | $3,146 |
| 19 | Shelter | $3,231 |
| 20 | Liberty Mutual | $3,744 |
| View More Rates Go | ||
Cincinnati Insurance generally has some of the most affordable car insurance rates in Louisville at around $1,082 each year. This is $1,061 less than the average premium paid by Kentucky drivers of $2,143. Kentucky Farm Bureau, USAA, Auto-Owners, and Motorists Mutual also rank well as some of the more affordable Louisville, KY auto insurance companies.
In the rate table above, if you are insured with Kentucky Farm Bureau and switched to Cincinnati Insurance, you might realize savings of upwards of $92. Insureds with USAA might save as much as $93 a year, and Auto-Owners insureds might lower prices by $331 a year.
To see if your current coverage is too expensive, click here to get a free quote or quote rates from the companies below.
It’s important to note that these premium estimates are averaged for all types of insureds and vehicles and are not factoring in an exact zip code location for veterans. So the insurer that can offer you the lowest price may not even be in the top 21 companies shown above. That point stresses why you need to compare rates from multiple companies using your own personal information and vehicle type.
Bad driving habits will cost you more
A great way to enjoy affordable car insurance premiums in Louisville for veterans is to be a cautious driver and not get tickets or have accidents. The chart below illustrates how violations and at-fault claims can raise insurance costs for different ages of insureds. The rate quotes are based on a single male driver, comp and collision included, $250 deductibles, and no additional discounts are factored in.
In the example above, the average cost of an auto insurance policy in Louisville per year with no violations or accidents is $1,718. Add in one speeding ticket and the average cost hikes up to $1,933, an increase of $216 each year. Now throw in two accidents along with the one speeding ticket and the yearly cost of car insurance for veterans jumps again to an average of $3,807. That’s an increase of $2,089, or $174 per month, just for a couple of infractions!
Do you need full coverage?
Buying cheaper car insurance is the goal of the majority of drivers, and an effective way to buy cheaper insurance for veterans is to buy liability only. The diagram below visualizes the comparison of insurance premiums with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The premiums are based on no claims or driving violations, $250 deductibles, single status, and no discounts are applied.
If we average the cost for all age groups, comprehensive and collision coverage on your policy costs $1,718 per year over and above liability coverage. At some point, almost every driver questions when is it a good idea to stop buying full coverage. There is no exact formula of when to phase out full coverage on your policy, but there is a general convention. If the yearly cost of comp and collision coverage is more than around 10% of the settlement you would receive from your company, then it could be time to drop full coverage.
Comparing rates can save you money
Louisville car insurance rates are based on many factors that control your annual premium. Improving your credit score, marrying your spouse, or getting a couple of tickets can trigger rate changes resulting in some rates now being cheaper than competitors.
Not only may your situation change, but auto insurance companies file new Kentucky car insurance rates multiple times each year in order to protect their financial rating. Higher than normal claims can result in increased policy costs, while profitable underwriting can produce cheaper Louisville car insurance rates.
The graph below shows rates for the cheapest car insurance in Louisville, KY for a 30-year-old male driver with no accidents or violations, and a high credit rating. If we estimate prices based on his current rating profile, Cincinnati Insurance has the lowest car insurance rates in Louisville at $1,668 a year. This is $475 less than the average premium paid by Kentucky drivers of $2,143. Kentucky Farm Bureau, USAA, Auto-Owners, and Grange Mutual round out the rest of the most affordable Louisville, KY auto insurance companies.
The next chart shows rates after we give the driver in the first chart a couple of claims, a lower credit rating, and a speeding ticket. Due to the fact that each insurance company has a unique formula for filing rates in each state, comparing quotes will most likely result in a different list of the cheapest car insurance companies in Louisville as shown below.
Kentucky Farm Bureau now has the lowest car insurance rate in Louisville with USAA, Travelers, State Farm, and Westfield completing the list. This shows why drivers need to compare as many rates as possible to find the best car insurance rates for veterans.
Car insurance prices are influenced by many factors and change dramatically, so the best option when you bought your policy may now not even be in the top five.
How to find cheaper car insurance for veterans
The list below shows many thrifty suggestions that can help Kentucky drivers find low-cost car insurance.
- Tickets and violations raise rates
- Buy vehicles with good safety ratings
- Drivers with good credit often pay less
- Avoid accidents
- Increase your policy deductibles
- Compare rates and switch if you can find a better deal
The last tip in the list is especially vital, as was pointed out in the prior article. Rates in Louisville change a lot, so don’t hesitate to change to a new company if a better deal can be had. Many drivers have brand loyalty and that’s fine, but it isn’t a good idea if that devotion results in you overpaying a small fortune year after year. In just a few minutes you could compare prices and find cheaper auto insurance for veterans.
The agents below can most likely help you make a decision which car insurance company is the best fit, as some drivers wish to get some professional input when shopping around for cheaper insurance for veterans. It’s not always simple to find the best policy on your own, so insurance agents can provide you comfort knowing you have enough protection.
To find an agent using an interactive map, click the button link following the list or click here to compare price quotes.
- Tom Kanaly – State Farm Insurance Agent
6608 Bardstown Rd a – Louisville, KY 40291 – (502) 231-2350 - Bob Savko – State Farm Insurance Agent
10839 Bluegrass Pkwy – Louisville, KY 40299 – (502) 499-7575 - Logan, Stanley – Logan Lavelle Hunt Insurance
11420 Bluegrass Pkwy – Louisville, KY 40299 – (502) 499-6880 - Matt Miller – State Farm Insurance Agent
8321 Preston Hwy – Louisville, KY 40219 – (502) 964-6288