Ideally, we could simply give you the name of the company that has the best auto insurance prices in Kentucky. It’s not that easy, however, as there are many unknown aspects like the amount of coverage you want, your gender, if you are married, and any driving violations you may have, that all impact the price you pay. This article delves into the things that influence insurance rates and will hopefully give you a good start in finding the cheapest car insurance in Louisville.
The type of vehicle needing coverage is one of the primary factors when trying to find cheaper coverage for high school students. Vehicles with limited top-end speed, a great safety record, or a track record of few liability claims will cost less to insure than fast, unsafe models.
The next list features car insurance costs for some of the more affordable automobiles to insure.
| Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V LX 2WD | $8,218 |
| Hyundai Elantra GLS Touring Station Wagon | $8,223 |
| Ford Escape XLS 2WD | $8,218 |
| Honda Accord LX 4-Dr Sedan | $8,225 |
| Toyota Prius | $8,878 |
| Ford Edge SE 2WD | $9,163 |
| Ford F-150 STX Regular Cab 4WD | $9,240 |
| Ford Focus S 4-Dr Sedan | $9,667 |
| Honda Civic DX 4-Dr Sedan | $9,675 |
| Chevrolet Impala LS | $9,667 |
| Honda Odyssey EX | $9,675 |
| Chevrolet Equinox LT 2WD | $9,743 |
| Toyota RAV4 Limited 4WD | $9,753 |
| Dodge Grand Caravan Hero | $9,743 |
| Ford Explorer Eddie Bauer 4WD | $9,823 |
| Chevrolet Malibu LT | $9,831 |
| Toyota Tacoma Double Cab 4WD | $9,823 |
| Dodge Ram Quad Cab ST 2WD | $10,060 |
| Toyota Camry SE | $10,247 |
| Toyota Corolla LE | $10,253 |
| Jeep Wrangler Unlimited Sahara 2WD 4-Dr | $10,314 |
| Jeep Grand Cherokee Limited 4WD | $10,327 |
| GMC Sierra 2500HD SLE Crew Cab 4WD | $10,333 |
| Find Cheaper Rates Go | |
Premium data assumes single male driver age 16, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Kentucky minimum liability limits. Discounts applied include safe-driver, and claim-free. Prices do not factor in specific zip code location which can revise insurance rates significantly.
Based upon these rates, makes and models like the Honda CR-V, Hyundai Elantra, and Ford Escape are most likely going to be the most economical vehicles to insure for teenagers. The price for an auto insurance policy will trend higher because of the fact that there is more risk for high school students, but overall those specific models will have the least expensive rates that you are likely to find.
For teenagers, one of the big things that are looked at to help calculate insurance cost is where your residence is. More populated areas tend to pay more, whereas areas with less people or fewer weather incidents benefit from lower coverage costs.
The table below lists the most expensive places in Kentucky for high school students to purchase auto insurance in. Louisville shows up at #1 with the annual price of $2,176 on average, which is around $181 each month.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Louisville | $2,176 |
| 2 | Frankfort | $1,725 |
| 3 | Jeffersontown | $1,719 |
| 4 | Ashland | $1,656 |
| 5 | Saint Matthews | $1,643 |
| 6 | Paducah | $1,631 |
| 7 | Elizabethtown | $1,611 |
| 8 | Murray | $1,597 |
| 9 | Danville | $1,596 |
| 10 | Radcliff | $1,590 |
| 11 | Madisonville | $1,552 |
| 12 | Covington | $1,532 |
| 13 | Hopkinsville | $1,523 |
| 14 | Nicholasville | $1,519 |
| 15 | Winchester | $1,517 |
| 16 | Henderson | $1,511 |
| 17 | Lexington | $1,499 |
| 18 | Georgetown | $1,491 |
| 19 | Bowling Green | $1,476 |
| 20 | Richmond | $1,475 |
| 21 | Florence | $1,441 |
| 22 | Fort Thomas | $1,440 |
| 23 | Independence | $1,436 |
| 24 | Erlanger | $1,420 |
| 25 | Owensboro | $1,418 |
| Quote Best Rates Go | ||
Rate quotes are estimated as zip code location can alter coverage prices considerably.
Finding dependable, cheap auto insurance is not the easiest thing to accomplish, and deciding which companies offer the cheapest auto insurance rates for high school students calls for even more rate comparisons. Each auto insurance company uses a slightly different approach for setting prices, so we’ll take a look at the auto insurance companies with the most affordable rates in Louisville.
It’s important to understand that Louisville, KY auto insurance rates are impacted by many factors that can increase the cost of coverage. Things like getting older, buying a newer car, or getting a ticket for careless driving can trigger rate changes that can make some companies more expensive than others.
Cheap Insurance Rates for Students
Click Here to Start Your Quote
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Cincinnati Insurance | $1,126 |
| 2 | Kentucky Farm Bureau | $1,174 |
| 3 | USAA | $1,223 |
| 4 | Auto-Owners | $1,371 |
| 5 | Motorists Mutual | $1,601 |
| 6 | Grange Mutual | $1,609 |
| 7 | Travelers | $1,663 |
| 8 | State Farm | $1,812 |
| 9 | Westfield | $1,870 |
| 10 | Safe Auto | $1,972 |
| 11 | Nationwide | $2,064 |
| 12 | Progressive | $2,119 |
| 13 | Electric | $2,160 |
| 14 | State Auto | $2,232 |
| 15 | Encompass | $2,312 |
| 16 | GEICO | $2,437 |
| 17 | Safeco | $2,791 |
| 18 | MetLife | $3,146 |
| 19 | Shelter | $3,263 |
| 20 | Liberty Mutual | $3,708 |
| Find Cheaper Rates Go | ||
Cincinnati Insurance may have some of the best car insurance rates in Louisville at around $1,126 each year. This is $1,017 less than the average policy premium paid by Kentucky drivers of $2,143. Kentucky Farm Bureau, USAA, Auto-Owners, and Motorists Mutual also make the cut as some of the most economical Louisville, KY car insurance companies.
In the above rates, if you currently buy coverage from Kentucky Farm Bureau and switched to Cincinnati Insurance, you could realize a yearly savings of approximately $48. Drivers with USAA might save as much as $97 a year, and Auto-Owners insureds might realize rate reductions of up to $245 a year.
To find out how much you can save, click here to start a quote or click several companies below for low rates.
It’s important to note that these premium estimates are averaged across all ages of drivers and types of vehicles and do not factor in an exact vehicle garaging location for high school students. So the insurer that has the lowest price for you may not even be in the list above. That affirms the importance of why you need to quote rates from as many companies as possible using your own personal information and vehicle type.
Discount Louisville auto insurance rates
Insurers that offer quotes for high school students could also offer special discounts that could lower prices by as much as 35% or more if you meet the requirements. The best auto insurance companies and some of the premium reductions they offer include:
- Progressive offers discounts including online quote discount, continuous coverage, online signing, multi-policy, homeowner, and multi-vehicle.
- MetLife may include discounts for defensive driver, accident-free, multi-policy, good driver, good student, claim-free
- Mercury Insurance has savings for accident-free, age of vehicle, type of vehicle, anti-theft, good student, and multi-policy.
- Nationwide may offer discounts for family plan, easy pay, accident-free, business or organization, and multi-policy.
- GEICO offers discounts for good student, daytime running lights, anti-lock brakes, defensive driver, anti-theft, seat belt use, and five-year accident-free.
- AAA offers premium reductions for multi-policy, multi-car, anti-theft, good student, pay-in-full, education and occupation, and AAA membership discount.
The example below shows the difference between auto insurance rates with and without discounts applied to the rates. The costs are based on a female driver, no driving violations, no at-fault accidents, Kentucky state minimum liability limits, comp and collision included, and $500 deductibles. The first bar for each age group shows the price with no discounts. The second shows the rates with vehicle safety, anti-theft, good student, paid-in-full, paperless filing, and continuous coverage discounts applied. When these discounts are applied to the policy premium, the average amount saved each year on auto insurance for high school students is 28% or $572.
Full coverage rates vs. liability-only in Louisville
Saving money on auto insurance is the goal of most people, and one common way to pay lower rates for insurance for high school students is to only buy liability insurance. The illustration below visualizes the comparison of yearly insurance costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The rates are based on no claims or violations, $100 deductibles, single status, and no discounts are factored in.
If all age groups are averaged, physical damage coverage on your policy costs an additional $1,873 per year more than buying just liability insurance. Lot’s of drivers question when is it safe to stop buying full coverage. There is no definitive formula to stop paying for comp and collision coverage, but there is a general guideline you can use. If the annual cost of coverage is more than 10% of the replacement cost of your vehicle minus the policy deductible, then you might want to consider buying only liability coverage.
For example, let’s pretend your vehicle’s settlement value is $9,500 and you have $1,000 deductibles. If your vehicle is destroyed, the most you would receive is $8,500 after paying your deductible. If premiums are more than $850 annually to have full coverage, then you might consider buying liability only.
How to find cheaper car insurance for high school students
The list below summarizes many penny-pinching ideas that can help Louisville drivers get low-cost auto insurance.
- Frequent claims will increase rates
- Avoid getting tickets or violations
- Buying home and auto insurance together can earn discounts
- Raise comprehensive and collision coverage deductibles
- Good credit can mean cheaper rates
- Avoid at-fault accidents and claims
- Compare rates and switch if you can find a better deal
That last piece of advice is especially critical, as was discussed in this write-up. Insurance rates can change considerably in a year, so don’t be unwilling to buy a policy from a new company if a lower price can be found. Many drivers tend to have loyalty to a certain company, but it’s not a great idea if it’s costing you major coinage every year. Spend a few minutes and compare prices to find cheaper auto insurance for high school students in Louisville.