For safe drivers, one of the largest criteria that aid in calculating auto insurance rates is where you keep your vehicle. Regions with larger populations or more claims are more likely to pay higher prices, whereas areas with less people or fewer weather incidents have the benefit of cheaper auto insurance prices.
The illustration below ranks the priciest cities in Kentucky for good drivers to buy car insurance in. Louisville makes the list at #1 with an annual premium of $2,112 for the average insurance policy, which is around $176 each month.
| Rank | City | Annual Rate |
|---|---|---|
| 1 | Louisville | $2,112 |
| 2 | Frankfort | $1,795 |
| 3 | Jeffersontown | $1,736 |
| 4 | Saint Matthews | $1,711 |
| 5 | Ashland | $1,707 |
| 6 | Paducah | $1,631 |
| 7 | Radcliff | $1,606 |
| 8 | Elizabethtown | $1,563 |
| 9 | Madisonville | $1,552 |
| 10 | Georgetown | $1,551 |
| 11 | Murray | $1,549 |
| 12 | Henderson | $1,541 |
| 13 | Danville | $1,534 |
| 14 | Hopkinsville | $1,523 |
| 15 | Winchester | $1,501 |
| 16 | Lexington | $1,499 |
| 17 | Richmond | $1,490 |
| 18 | Independence | $1,480 |
| 19 | Bowling Green | $1,476 |
| 20 | Covington | $1,472 |
| 21 | Nicholasville | $1,459 |
| 22 | Florence | $1,441 |
| 23 | Erlanger | $1,420 |
| 24 | Fort Thomas | $1,412 |
| 25 | Owensboro | $1,390 |
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Table data uses approximated as the specific garaging location can raise or lower coverage rates significantly.
The vehicle you are insuring is probably the most important factor that determines whether or not you can buy the most economical insurance for good drivers. Vehicles with more horsepower, a lack of modern safety features, or a high likelihood of having liability claims will cost significantly more to insure than more modest models. The data below features car insurance costs for a number of the most cost-effective vehicles to insure in Kentucky.
| Make, Model, and Trim Level | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V LX 4WD | $1,817 |
| Ford Escape Limited 2WD | $1,856 |
| Honda Accord EX-L 4-Dr Sedan | $1,972 |
| Toyota Tacoma 4WD | $2,035 |
| Ford Edge Limited 2WD | $2,111 |
| Chevrolet Malibu Hybrid | $2,151 |
| Honda Odyssey LX | $2,260 |
| Hyundai Elantra GLS 4-Dr Sedan | $2,266 |
| Chevrolet Impala LTZ | $2,272 |
| Ford F-150 XL Crew Cab 4WD | $2,269 |
| Toyota Prius | $2,275 |
| Nissan Rogue S AWD | $2,303 |
| Ford Focus SE 4-Dr Sedan | $2,306 |
| Volkswagen Jetta SE 4-Dr Sedan | $2,309 |
| Chevrolet Silverado LT Crew Cab 4WD | $2,317 |
| Jeep Grand Cherokee Limited 4WD | $2,309 |
| Ford Explorer XLT 2WD | $2,315 |
| GMC Sierra SLE Regular Cab 2WD | $2,354 |
| Toyota RAV4 Sport 2WD | $2,363 |
| Dodge Grand Caravan Hero | $2,427 |
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Table data represents 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, safe-driver, multi-vehicle, multi-policy, and homeowner. Prices do not factor in your specific Louisville, KY location which can alter coverage rates significantly.
Looking at the data, you can expect vehicles like the Honda CR-V, Ford Escape, Honda Accord, and Toyota Tacoma are some of the cheaper vehicles to insure for safe drivers.
Safe drivers pay less for insurance
The obvious way to earn the best insurance rates for safe drivers is to pay attention while driving and avoid accidents and keep your driving record clean. The example below highlights how traffic violations and at-fault accidents impact annual premium costs for different insured age categories. Data assumes a married female driver, comprehensive and collision coverage, $500 deductibles, and no discounts are applied.
In the chart above, the average cost of car insurance per year with a clean driving record and no accidents is $1,187. Add in two speeding tickets and the average cost hikes up to $1,680, an increase of $493 each year. Next add two accidents along with the two speeding tickets and the yearly cost of insurance for good drivers jumps again to an average of $3,605. That’s an increase of $2,419, or $202 per month, just for not being attentive to the road!
The example below demonstrates how deductible levels can change insurance premiums when researching cheap insurance for good drivers. The rate quotes are based on a married male driver, full physical damage coverage, and no discounts are applied to the premium.
In the chart above, a 50-year-old driver could lower rates by $316 a year by changing from a $100 deductible up to a $500 deductible, or save $478 by changing to a $1,000 deductible. Even younger drivers, such as the 20-year-old example, could possibly save $1,060 or more by using a higher deductible.
When raising deductibles, it will be important to have enough savings to enable you to cover the extra out-of-pocket expense. That is the one disadvantage of using higher deductibles.
A good deal can quickly turn bad
Louisville, KY insurance rates are calculated based on many things that will increase or decrease the cost of coverage. Simply improving your credit, moving across town, or getting a driving violation can produce rate changes resulting in some companies being more affordable than before.
Additionally, insurers change their prices without warning in order to maintain liquidity for claims. Higher than normal claim frequency or severity may cause additional price hikes, while better underwriting may result in cheaper Louisville car insurance rates.
The bar chart below shows the companies that have the cheapest car insurance in Louisville, KY for a 30-year-old male driver with no prior claims, no tickets, and good credit. If we estimate prices based on his current rating profile, Cincinnati Insurance may offer the cheapest car insurance rates in Louisville at $1,660 annually. This is $483 less than the average rate 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.
In the next rate comparison, we’ll give the driver from above a chargeable accident, a lower credit rating, and a couple of points charged on his driving record. Because each company has a different process for determining prices, comparing insurance quotes may result in a different list of companies as shown below.
Kentucky Farm Bureau now has the best price on car insurance in Louisville with USAA, Travelers, Cincinnati Insurance, and State Farm completing the list. This example illustrates why it is so important to spend some time comparing rates when trying to get the lowest auto insurance quotes for good drivers.
Insurance rates can be altered by many things and change substantially, so the lowest-price company three years ago may now be wasting a lot of money.
How to find more affordable insurance for good drivers
Lowering your rates is not difficult, and here are a few money-saving solutions that can help Louisville drivers buy cheaper coverage.
- Claim-free policyholders usually earn a discount
- Good credit can help you save money
- Buy a car with high safety ratings
- At-fault accidents can raise rates significantly
- Speeding tickets and other violations increase rates
- Compare quotes from other companies often
The last tip is incredibly critical, as was pointed out in the prior information. Car insurance rates can be modified anytime, so drivers shouldn’t hesitate to buy a different policy if a better rate can be found. Being loyal to a particular company is commendable, but it’s not recommended if your bullheadedness ends up costing you a lot of money. Spend a few minutes and compare prices to find cheaper car insurance for good drivers in Louisville.