The words “bargain” and “insurance” probably shouldn’t be used in the same sentence, especially when searching for the cheapest car insurance for drivers over age 70. In an attempt to save some money, let’s start the ball rolling by going over some situations that help determine auto insurance premiums, and figure out some ways to take the sting out of your next policy.
For older drivers, one of the largest criteria that are looked at to help calculate insurance cost is where your car is garaged in Louisville. More populated areas tend to have more expensive auto insurance rates, whereas areas with fewer weather claims and lower vehicle theft rates get the luxury of paying less.
The table below rates the most costly cities in Kentucky for drivers over age 70 to purchase a policy in. Louisville is ranked at #1 with an annual premium of $2,112 for the average insured, which is approximately $176 each month.
| Rank | City | Average Per Year |
|---|---|---|
| 1 | Louisville | $2,112 |
| 2 | Frankfort | $1,778 |
| 3 | Jeffersontown | $1,719 |
| 4 | Ashland | $1,656 |
| 5 | Saint Matthews | $1,643 |
| 6 | Paducah | $1,631 |
| 7 | Murray | $1,613 |
| 8 | Radcliff | $1,590 |
| 9 | Madisonville | $1,568 |
| 10 | Elizabethtown | $1,547 |
| 11 | Georgetown | $1,536 |
| 12 | Richmond | $1,535 |
| 13 | Danville | $1,534 |
| 14 | Covington | $1,532 |
| 15 | Winchester | $1,517 |
| 16 | Lexington | $1,514 |
| 17 | Henderson | $1,511 |
| 18 | Nicholasville | $1,504 |
| 19 | Hopkinsville | $1,478 |
| 20 | Independence | $1,466 |
| 21 | Florence | $1,441 |
| 22 | Erlanger | $1,420 |
| 23 | Bowling Green | $1,418 |
| 24 | Fort Thomas | $1,397 |
| 25 | Owensboro | $1,376 |
| Find the Best Rates Go | ||
Prices are comparative as the specific zip code location can alter rates noticeably.
Finding reliable, low-cost auto insurance is hard enough, and deciding which companies offer the cheapest insurance rates for drivers over age 70 may require a little more work. Each auto insurance company has their own formula for establishing rates, so first let’s look at the rankings for the overall cheapest insurance companies in Louisville.
It’s a good idea to know that Louisville insurance rates are influenced by many factors that can increase the price of your policy. That is why Kentucky drivers need to compare as many rates as possible when trying to find the best auto insurance quotes for drivers over age 70. Auto insurance prices are influenced by many different factors and can decrease or increase without notice, so the cheapest company when you last compared rates may now not even be in the top five.
Find Cheaper Auto Insurance for Age 70+
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Cincinnati Insurance | $1,093 |
| 2 | Kentucky Farm Bureau | $1,139 |
| 3 | USAA | $1,211 |
| 4 | Auto-Owners | $1,357 |
| 5 | Motorists Mutual | $1,553 |
| 6 | Grange Mutual | $1,577 |
| 7 | Travelers | $1,663 |
| 8 | State Farm | $1,793 |
| 9 | Westfield | $1,832 |
| 10 | Safe Auto | $1,932 |
| 11 | Nationwide | $2,024 |
| 12 | Electric | $2,076 |
| 13 | Progressive | $2,119 |
| 14 | State Auto | $2,254 |
| 15 | Encompass | $2,288 |
| 16 | GEICO | $2,365 |
| 17 | Safeco | $2,763 |
| 18 | MetLife | $3,084 |
| 19 | Shelter | $3,263 |
| 20 | Liberty Mutual | $3,708 |
| Find Cheaper Rates Go | ||
Cincinnati Insurance may offer some of the cheapest car insurance rates in Louisville at around $1,093 a year. Kentucky Farm Bureau, USAA, Auto-Owners, and Motorists Mutual are also some of the lowest-priced Louisville, KY auto insurance companies.
As illustrated above, if you are insured with Auto-Owners and switched to Kentucky Farm Bureau, you could see savings of about $218. Drivers with Motorists Mutual could save as much as $414 a year, and Grange Mutual policyholders might reduce rates by $438 a year.
Understand that those policy rates are averages for all insureds and vehicles and do not factor in an exact location for drivers over age 70. So the car insurance company that is best suited for you may not even be in the list above. That affirms the importance of why you need to get rate quotes from many companies using your own driver and vehicle profiles.
The vehicle model on the policy is one of the main factors in finding affordable coverage for drivers over age 70. Vehicles with lower acceleration and performance, a great safety record, or a positive history of liability claims will cost much less to insure than high performance models. The next table illustrates car insurance costs for the most cost-effective vehicles to buy coverage for.
| Make, Model, and Trim Level | Estimated Cost for Full Coverage |
|---|---|
| Honda Accord EX 4-Dr Sedan | $2,062 |
| Honda CR-V EX-L 2WD | $2,096 |
| Ford Escape Limited 2WD | $2,101 |
| Toyota Prius | $2,264 |
| Toyota Tacoma 4WD | $2,313 |
| Dodge Grand Caravan CV | $2,322 |
| Ford Focus S 4-Dr Sedan | $2,410 |
| Honda Odyssey EX W/Rear Entertainment | $2,415 |
| Chevrolet Impala LS | $2,410 |
| Ford Edge SEL AWD | $2,419 |
| Chevrolet Equinox LT 2WD | $2,444 |
| Toyota RAV4 Limited 4WD | $2,451 |
| Ford Fusion S 4-Dr Sedan | $2,444 |
| Find Cheaper Rates Go | |
Prices based on single female driver age 70, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Kentucky minimum liability limits. Discounts applied include multi-policy, multi-vehicle, homeowner, safe-driver, and claim-free. Price information does not factor in vehicle garaging location which can change coverage rates considerably.
Looking at the data, you can expect models like the Honda Accord, Honda CR-V, Ford Escape, and Toyota Prius are most likely going to be the cheaper vehicles to insure for older drivers. The price of auto insurance will tend to be more expensive because there is more claim risk for drivers over age 70, but generally speaking those models will probably have the cheapest rates compared to other vehicles.
The example below highlights how deductible selection can increase or decrease yearly insurance costs when researching cheap insurance for drivers over age 70. The premiums assume a married female driver, comp and collision included, and no other discounts are factored in.
In the chart above, a 50-year-old driver could cut expenses by $266 a year by switching the physical damage coverage from a $100 deductible up to a $500 deductible, or save $402 by choosing a $1,000 deductible. Youthful drivers, like the 20-year-old, could drop their prices up to $662 every year by choosing larger deductibles on their policy.
When increasing deductibles, it will be required to have enough savings to satisfy the extra out-of-pocket expense, which is the primary disadvantage of high deductibles.
Picking a highly-rated insurer can be rather challenging considering how many different companies there are to choose from in Louisville. The ranking information in the lists below could help you decide which car insurance companies you want to consider putting your business with. These ratings only include the largest companies in the United States, so companies that focus mainly on Kentucky business are not included in these rankings.
Top 10 Major Car Insurance Companies in Louisville Ranked by Value
- Travelers
- American Family
- AAA Insurance
- Safeco Insurance
- Progressive
- The Hartford
- Erie Insurance
- The General
- Esurance
- 21st Century
The insurance agents in Louisville listed below can probably aid you in deciding which insurance coverage will be best for you, as lots of people like to have the advice of a professional agent when shopping for the best coverage for drivers over age 70. It’s not always simple to find coverage yourself, and insurance agents can provide satisfaction knowing your policy gives you decent coverage if you have a claim. To locate a Louisville insurance agent in your neighborhood, click the button at the bottom.
- Allstate Insurance: Kevin Miles
9475 Westport Rd #305 – Louisville, KY 40241 – (502) 423-1171 - Milt Nugent – State Farm Insurance Agent
1005 Dupont Square N – Louisville, KY 40207 – (502) 897-6426 - National Insurance Agency, Inc.
13804 Lake Point Way # 202 – Louisville, KY 40223 – (502) 425-3232 - Reeves Insurance Agency
3616 Dixie Hwy – Louisville, KY 40216 – (502) 448-6226 - Justin Roper – State Farm Insurance Agent
8800 Dixie Hwy b – Louisville, KY 40258 – (502) 271-3211
More Louisville, KY insurance agents
How to find more affordable insurance for drivers over age 70
The list below shows some of the better penny-pinching ideas that can help drivers quote low-cost auto insurance.
- Maintain a safe distance and avoid accidents
- Be a cautious driver
- Higher deductibles mean lower rates
- On older vehicles, drop full coverage
- Buy a car with high safety ratings
- Increase your credit rating
- Comparison shop frequently
That final tip is remarkably significant, as was stressed in the prior information. Coverage prices can be adjusted at any time, so you should be ready to switch to a new company if you find a better deal.
Brand loyalty is not necessarily bad, but we do not recommend it if that loyalty ends up costing money that could be spent on other things. If you have a few minutes, compare prices to find cheaper car insurance for drivers over age 70 in Louisville.