Are you searching for lower-priced Honda Insight insurance in Louisville? Are you frustrated by the dozens of auto insurance choices in your area? Drivers have such a vast assortment of choices available that it can really be a chore to find a cheaper company. Louisville is a good city to live in, but expensive premiums for auto insurance can make it hard to buy proper levels of coverage.
How to buy low-cost Honda Insight insurance in Louisville
If saving money is your primary concern, then the best way to save money on Honda Insight insurance in Louisville is to start doing a yearly price comparison from providers who provide auto insurance in Kentucky. You can shop around by completing these steps.
- Step 1: Try to learn about how insurance works and the steps you can take to prevent expensive coverage. Many things that result in higher rates like speeding and a substandard credit score can be eliminated by making minor changes to your lifestyle. This article provides instructions to help prevent expensive coverage and find available discounts that you may qualify for.
- Step 2: Request price quotes from direct, independent, and exclusive agents. Direct companies and exclusive agencies can only quote rates from one company like GEICO or State Farm, while independent agents can give you price quotes from multiple sources.
- Step 3: Compare the new rate quotes to your existing policy to determine if you can save on Insight insurance in Louisville. If you can save some money and buy the policy, verify that coverage does not lapse between policies.
A valuable tip to remember is to compare similar coverage information on each quote and and to get price estimates from as many car insurance companies as possible. This helps ensure a fair price comparison and the most accurate and complete price analysis.
Astonishing but true, almost 70% of drivers have purchased from the same company for four years or more, and 38% of drivers have never shopped around. Louisville drivers could pocket as much as $631 a year just by comparing rates, but they don’t know the large savings they would see if they replace their high priced policy.
Companies offering Honda Insight insurance in Kentucky
The following companies have been selected to offer free quotes in Louisville, KY. In order to find cheap car insurance in Louisville, it’s highly recommended you visit as many as you can in order to find the cheapest rates.
Honda Insight insurance rates and statistics
The data table displayed next highlights different insurance policy prices for Honda Insight models. Being able to understand how auto insurance policy rates are calculated can help customers make smart choices when purchasing an insurance policy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Insight LX | $124 | $246 | $336 | $20 | $100 | $826 | $69 |
| Insight EX | $142 | $290 | $336 | $20 | $100 | $888 | $74 |
| Get Your Own Custom Quote Go | |||||||
Data based on married male driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Kentucky minimum liability limits. Discounts applied include multi-policy, multi-vehicle, safe-driver, homeowner, and claim-free. Prices do not factor in Louisville location which can alter prices considerably.
An analysis of deductible level
One of the hardest decisions when shopping for auto insurance is how high or low should comp and collision deductibles be. The following tables summarize how much more rates are between low and high policy deductibles. The first data set uses a $100 deductible for physical damage and the second set of prices uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Insight LX | $244 | $508 | $326 | $20 | $98 | $1,221 | $102 |
| Insight EX | $280 | $598 | $326 | $20 | $98 | $1,347 | $112 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Insight LX | $178 | $342 | $326 | $20 | $98 | $964 | $80 |
| Insight EX | $206 | $404 | $326 | $20 | $98 | $1,054 | $88 |
| Get Your Own Custom Quote Go | |||||||
Table data represents married male driver age 30, no speeding tickets, no at-fault accidents, and Kentucky minimum liability limits. Discounts applied include claim-free, multi-policy, homeowner, multi-vehicle, and safe-driver. Premium costs do not factor in specific zip code location which can affect coverage prices considerably.
Using the premium rates above, we can conclude that using a $100 deductible costs an average of $23 more each month or $276 each year than quoting the higher $500 deductible. Since you would have to pay $400 more if you turn in a claim with a $500 deductible as compared to a $100 deductible, if you normally average more than 17 months between claim filings, you would save more money by going with a higher deductible. Below is a better example of how you can perform this determination yourself.
| Average monthly premium for $100 deductibles: | $107 |
| Average monthly premium for $500 deductibles (subtract): | – $84 |
| Monthly savings from raising deductible: | $23 |
| Difference between deductibles ($500 – $100): | $400 |
| Divide difference by monthly savings: | $400 / $23 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 17 months |
One thing to be aware of is that higher deductibles results in more money out-of-pocket when you have a comprehensive or collision claim. It will be required that you have enough money stashed away in order to pay more to get your vehicle repaired.
The information below demonstrates how deductibles and can raise or lower Honda Insight insurance costs for different categories of driver ages. The premiums are based on a married female driver, comprehensive and collision coverage, and no discounts are applied to the premium.
Impact of careless driving on auto insurance rates
The example below shows how violations and at-fault collisions can drive up Honda Insight premium costs for each different age category. The data assumes a single female driver, full coverage, $100 deductibles, and no other discounts are factored in.
Honda Insight insurance costs by gender and age in Louisville
The chart below illustrates the comparison of Honda Insight insurance prices for male and female drivers. The rate quotes are based on no claims or driving violations, full physical damage coverage, $100 deductibles, drivers are not married, and no discounts are factored in.
Full coverage rates vs. liability-only
The chart below compares Honda Insight insurance costs with liability coverage only compared to full coverage. Data assumes no tickets, no at-fault accidents, $100 deductibles, drivers are single, and no other discounts are factored in.
Guidelines for eliminating full coverage
There is no written rule of when to stop paying for full coverage on your policy, but there is a broad guideline. If the annual cost of comprehensive and collision coverage is more than around 10% of any settlement you would receive from your insurance company, then you might consider buying liability only.
For example, let’s assume your Honda Insight claim settlement value is $6,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled in an accident, the most your company will settle for is $5,000 after paying your policy deductible. If premiums are more than $500 annually to have full coverage, the it may be a good time to stop paying for full coverage.
There are some circumstances where dropping full coverage is not a good plan. If you still have a loan on your vehicle, you have to carry full coverage to satisfy the loan requirements. Also, if your savings is not enough to buy a different vehicle in the even your car is totaled, you should not consider dropping full coverage.
Lower rate quotes by taking advantage of discounts
Auto insurance companies don’t always list every policy discount very clearly, so the below list has some of the more common and also the more inconspicuous car insurance savings. If you do not check that you are getting every discount available, you could be saving more on your car insurance.
- Full Payment Discount – By paying your entire bill at once rather than spreading payments over time you can avoid the installment charge.
- Military Rewards – Having an actively deployed family member could qualify you for better prices.
- Student Discounts – A discount for being a good student can get you a discount of up to 25%. The discount lasts until age 25.
- Sign Early and Save – A few insurance companies allow discounts for switching policies before your current expiration date. It could save around 10% when you buy Louisville auto insurance online.
- Drivers Education – Cut your cost by having your teen driver participate in a local driver’s education class in high school.
- Air Bag Discount – Options like air bags may earn rate discounts of 25 to 30%.
- Senior Citizen Discount – Seniors may receive better car insurance rates.
- Savings for New Vehicles – Insuring a vehicle that is new can be considerably cheaper because newer models are generally safer.
- First Accident Forgiveness – This isn’t a discount exactly, but some insurance companies will forgive one accident before raising your premiums so long as you are claim-free prior to the accident.
- Discounts for Safe Drivers – Accident-free drivers could pay up to 40% less compared to accident prone drivers.
As a disclaimer on discounts, most of the big mark downs will not be given to your bottom line cost. Some only reduce the price of certain insurance coverages like comprehensive or collision. So even though you would think it’s possible to get free car insurance, you won’t be that lucky.
The chart below visualizes the comparison of Honda Insight annual premium costs with and without discounts being applied to the rates. The premiums are based on a female driver, a clean driving record, no at-fault accidents, Kentucky state minimum liability limits, full coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, multi-car, homeowner, safe-driver, marriage, and claim-free discounts applied.
A few of the larger companies and some of the premium reductions they offer are included below.
- State Farm may offer discounts for defensive driving training, good student, multiple autos, accident-free, driver’s education, and safe vehicle.
- American Family offers discounts including bundled insurance, defensive driver, Steer into Savings, mySafetyValet, air bags, TimeAway discount, and accident-free.
- GEICO has discounts for anti-theft, seat belt use, five-year accident-free, daytime running lights, military active duty, and air bags.
- 21st Century may have discounts that include anti-lock brakes, driver training, air bags, early bird, automatic seat belts, and defensive driver.
- Progressive may include discounts for homeowner, good student, continuous coverage, online quote discount, and multi-policy.
When getting a coverage quote, ask each insurance company what discounts are available to you. Depending on the company, some discounts may not be available in your state. To locate providers with the best discounts in Kentucky, click this link.
Insurance agent or online?
Many drivers would rather buy from a licensed agent and that is recommended in a lot of cases An additional benefit of comparing rates online is that you can obtain cheap rate quotes and still choose a local agent. Buying insurance from local agencies is important especially in Louisville.
After filling out this simple form, your insurance coverage information is submitted to local insurance agents in Louisville who will give competitive quotes for your coverage. It simplifies rate comparisons since you won’t have to do any legwork because prices are sent instantly to you. You can find the lowest rates without having to waste a lot of time. If you have a need to quote rates from a specific insurance company, you just need to search and find their rate quote page and fill out the quote form the provide.
When narrowing the list to find local Louisville agents, you should know the types of insurance agents that differ in how they can insure your vehicles. Agents may be either independent agents or exclusive agents depending on their employer.
Independent Car Insurance Agents (or Brokers)
Agents of this type are not locked into one company so they have the ability to put coverage through many companies and find the cheapest car insurance rates. If they find a lower price, an independent agent can move your coverage which requires no work on your part. When comparing rates, you should always get insurance quotes from a few independent agents to get the best comparison. Most also have access to smaller companies which may have better rates.
Featured below are independent agents in Louisville that may be able to provide free rate quotes.
- Glenn E Martin Insurance
10226 Shelbyville Rd – Louisville, KY 40223 – (502) 245-8870 – View Map - Epic Insurance Solutions
9700 Ormsby Station Rd #200 – Louisville, KY 40223 – (502) 805-3742 – View Map - Grant Insurance Agency, LLC
13000 Equity Pl #201 – Louisville, KY 40223 – (502) 254-3332 – View Map
Exclusive Insurance Agents
Exclusive agencies can only quote rates from one company and some examples include Farmers Insurance, State Farm, Allstate, and AAA. These agents are unable to provide rate quotes from other companies so they are skilled at selling on more than just price. Exclusive agents are usually well trained on their products and sales techniques which can be an advantage. Some people will only use the same exclusive agent partially due to the prominent brand name and the convenience of having a single billing for all their coverages.
Shown below are exclusive agencies in Louisville who can help you get price quotes.
- Duane Riley – State Farm Insurance Agent
7707 Bardstown Rd – Louisville, KY 40291 – (502) 231-7850 – View Map - David Franck – State Farm Insurance Agent
8217 Shelbyville Rd – Louisville, KY 40222 – (502) 339-1400 – View Map - Joe Bell Jr – State Farm Insurance Agent
4016 Preston Hwy – Louisville, KY 40213 – (502) 361-2367 – View Map
Choosing an car insurance agent requires you to look at more than just a cheap price. These are some valid questions you should ask.
- Does the agency have a current Errors and Omissions policy?
- Do they specialize in personal lines coverage in Louisville?
- When do they do policy reviews?
- Will they take your side in the event of a claim?
- Will high miles depreciate repair valuations?
- Is coverage determined by price?
Upon receiving satisfactory answers as well as offering an affordable quote, you have narrowed it down to an auto insurance agent that meets your needs to properly service your car insurance policy.
In conclusion
As you shop your coverage around, it’s a bad idea to buy poor coverage just to save money. In many cases, an accident victim reduced full coverage and learned later they didn’t purchase enough coverage. Your strategy should be to buy a smart amount of coverage for the lowest cost but still have enough coverage for asset protection.
We just presented many ways to get a better price on Honda Insight insurance in Louisville. It’s most important to understand that the more price quotes you have, the better your chances of lowering your premium rates. You may even find the lowest car insurance rates are with a lesser-known regional company.
Lower-priced auto insurance in Louisville is attainable on the web and also from your neighborhood Louisville agents, so you need to quote Louisville auto insurance with both to have the best chance of lowering rates. Some insurance companies may not offer internet price quotes and these regional insurance providers provide coverage only through independent agents.
How to buy discount Honda Insight insurance in Louisville
If saving money is your primary concern, then the best way to find better pricing on Honda Insight insurance in Louisville is to start doing an annual price comparison from companies in Kentucky.
First, try to understand car insurance and the things you can change to lower rates. Many policy risk factors that result in higher rates such as inattentive driving and a not-so-good credit rating can be controlled by making small lifestyle or driving habit changes.
Second, request price quotes from independent agents, exclusive agents, and direct companies. Exclusive agents and direct companies can only provide price estimates from one company like Progressive or Farmers Insurance, while agents who are independent can give you price quotes from multiple insurance companies.
Third, compare the new rate quotes to the premium of your current policy and determine if there is any savings. If you can save money, make sure there is no lapse in coverage.
A good piece of advice is to use identical limits and deductibles on every quote request and and to get price quotes from as many auto insurance providers as possible. Doing this provides an apples-to-apples comparison and a good representation of prices.
Helpful information
- Auto Insurance FAQ (Farmers Insurance)
- Who Has the Cheapest Auto Insurance for a Ford Explorer in Louisville? (FAQ)
- What Auto Insurance is Cheapest for Drivers Under 21 in Louisville? (FAQ)
- Who Has Cheap Auto Insurance for Postal Workers in Louisville? (FAQ)
- Who Has Affordable Louisville Auto Insurance Rates for Active Military? (FAQ)
- Who Has Cheap Auto Insurance for 17 Year Olds in Louisville? (FAQ)
- How Much is Auto Insurance for Safe Drivers in Louisville? (FAQ)
- Collision Insurance Coverage (Nationwide)
- Higher speed limits cause more fatalities (Insurance Institute for Highway Safety)