The preferred way to find the cheapest price for car insurance rates in Louisville is to start comparing rates regularly from insurance carriers who provide car insurance in Kentucky. You can compare prices by following these guidelines.
Step 1: Spend some time learning about what coverages are included in your policy and the steps you can take to prevent expensive coverage. Many risk factors that cause rate increases such as at-fault accidents, careless driving, and a bad credit rating can be remedied by making small lifestyle or driving habit changes.
Step 2: Request price quotes from independent agents, exclusive agents, and direct companies. Direct and exclusive agents can only give prices from a single company like GEICO or Farmers Insurance, while independent agents can quote rates from multiple companies.
Step 3: Compare the price quotes to the premium of your current policy and see if there is a cheaper rate in Louisville. If you find a lower rate and switch companies, make sure there is no lapse in coverage.
Step 4: Provide adequate notice to your current company of your decision to cancel your current car insurance policy. Submit any necessary down payment along with the completed application for the new coverage. Be sure to safely store the certificate verifying coverage in your glove compartment.
A crucial key to this process is that you’ll want to compare the same coverage limits and deductibles on each price quote and and to compare as many different companies as possible. Doing this enables a fair rate comparison and a complete price analysis.
A recent auto insurance study discovered that a large majority of auto insurance policyholders renewed their policy with the same company for a minimum of four years, and approximately 38% of consumers have never even compared rates from other companies. Louisville drivers could save $600 a year, but they feel it’s too difficult to compare rate quotes.
If you already have coverage or just want a better rate, use these tips to get lower rates without reducing protection. We hope to familiarize you with the best way to quote coverages and some money-saving tips. Drivers just have to learn the tricks to shop their coverage around on the web.
Do you qualify for discounts?
Some providers don’t always advertise every discount very clearly, so we break down both the well known in addition to some of the lesser obvious discounts that you can inquire about if you buy Louisville auto insurance online.
- Telematics Devices – Drivers that enable driving data collection to look at when and where they use their vehicle by installing a telematics device such as Progressive’s Snapshot and State Farm’s In-Drive may see discounts if they show good driving skills.
- Passenger Safety Discount – Cars that have air bags or motorized seat belts may qualify for discounts of up to 25% or more.
- Early Renewal Discounts – Some auto insurance companies give discounts for renewing your policy before your current Z4 insurance policy expires. It can save you around 10%.
- Save over 55 – Older drivers may receive better auto insurance rates.
- Safety Course Discount – Passing a course that instructs on driving safety could save 5% or more if your company offers it.
- Discount for Good Grades – Performing well in school can get you a discount of up to 25%. Many companies even apply the discount to college students well after school through age 25.
- Online Discount – Some larger companies may give you up to $50 for completing your application on your computer.
- Payment Discounts – By paying your policy upfront rather than paying in monthly installments you could save 5% or more.
Discounts save money, but please remember that most discount credits are not given to the entire cost. Some only reduce the price of certain insurance coverages like comp or med pay. So despite the fact that it appears all those discounts means the company will pay you, you aren’t that lucky.
The example below illustrates the comparison of BMW Z4 car insurance costs with and without discounts being applied to the rates. The information is based on a female driver, no claims or driving violations, Kentucky state minimum liability limits, comprehensive and collision coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, claim-free, marriage, multi-policy, homeowner, and multi-car discounts applied.
Companies who may offer most of the discounts above possibly include:
Before buying, ask every prospective company how you can save money. Discounts might not be available to policyholders in Louisville. For a list of insurers who offer cheap BMW Z4 insurance quotes in Kentucky, follow this link.
The companies shown below offer free rate quotes in Louisville, KY. To find cheap auto insurance in KY, it’s highly recommended you click on several of them in order to get a fair rate comparison.
BMW Z4 detailed coverage information
The coverage information displayed below showcases a range of insurance rates for BMW Z4 models. Understanding more about how prices are determined can help you make decisions on which insurance to purchase.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Z4 3.0I SDRIVE 2-Dr Roadster | $222 | $456 | $292 | $18 | $88 | $1,076 | $90 |
| Z4 3.5I SDRIVE 2-Dr Roadster | $222 | $456 | $292 | $18 | $88 | $1,076 | $90 |
| Get Your Own Custom Quote Go | |||||||
Cost estimates assume married female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Kentucky minimum liability limits. Discounts applied include claim-free, multi-vehicle, safe-driver, homeowner, and multi-policy. Rates do not factor in specific garaging location which can increase or decrease premium rates considerably.
Insurance premiums based on gender
The illustration below compares BMW Z4 yearly insurance costs for male and female drivers. The costs are based on a clean driving record, no at-fault accidents, comp and collision included, $250 deductibles, drivers are single, and no policy discounts are applied.
Cost comparison with and without full coverage
The diagram below shows the difference between BMW Z4 premium costs with full physical damage coverage compared to only buying liability only. The data assumes no violations or claims, $250 deductibles, single status, and no additional discounts are factored in.
When to stop paying for full coverage
There isn’t a written rule to stop paying for full coverage, but there is a general guideline. If the annual cost of comprehensive and collision coverage is 10% or more of replacement cost minus your deductible, then you may need to consider dropping full coverage.
For example, let’s pretend your BMW Z4 replacement cost is $8,000 and you have $1,000 physical damage deductibles. If your vehicle is damaged in an accident, you would only receive $7,000 after paying the physical damage deductible. If you are paying over $700 a year to have full coverage, then it might be time to buy liability only.
There are some situations where dropping physical damage coverage is not financially feasible. If you still have a loan on your vehicle, you have to maintain full coverage in order to prevent your loan from defaulting. Also, if you cannot afford to purchase a different vehicle in the even your car is totaled, you should keep full coverage in place.
The BMW Z4 Insurance Premium Equation
Smart consumers have a good feel for some of the things that come into play when calculating the level of your policy premiums. When you know what positively or negatively positively or negatively impacts your premiums, this allows you to make good choices that could help you find cheaper rates. Lots of things are considered when premium rates are determined. A few of the factors are predictable such as your driving record, although some other factors are not quite as obvious like your vehicle usage or your financial responsibility.
- Lower rates with a multi-policy discount – Lots of insurers allow discounts to insureds who consolidate policies with them such as combining an auto and homeowners policy. Even if you qualify for this discount already, you still need to check prices from other companies to help guarantee you have the best rates. You may still save even more by insuring with multiple companies.
- Being married is a good thing – Being married can get you a discount compared to being single. Marriage translates into being more mature and responsible and insurance companies like that married couples file fewer claims.
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Tickets can increase prices – Even a single driving citation can increase rates forty percent or more. Careful drivers pay less for auto insurance compared to bad drivers. People who have careless violations such as DWI, reckless driving or hit and run convictions may find that they have to to file a proof of financial responsibility form (SR-22) with their state’s licensing department in order to legally drive.
The illustration below demonstrates how traffic citations and at-fault accidents can increase BMW Z4 auto insurance costs for each age group. The data is based on a married female driver, comprehensive and collision coverage, $500 deductibles, and no discounts are applied to the premium.
- Never let your auto insurance policy lapse – Having a gap between insurance policy dates is a quick way to bump up your auto insurance costs. In addition to paying higher rates, the inability to provide proof of insurance will get you fines and jail time.
- Commute or pleasure use – The more you drive annually the more you’ll pay to insure your vehicle. A lot of companies charge rates based upon how the vehicle is primarily used. Autos that are left in the garage get more affordable rates than vehicles that have high annual mileage. An incorrectly rated Z4 may be wasting your money. It’s a smart idea to ensure your declarations sheet is rated on the correct driver usage.
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Drive a fast car and pay more – The make and model of the car you are insuring makes a big difference in the rate you pay. The most favorable rates tend to be for the lowest performance passenger models, but other factors influence the final cost greatly.
The chart below assumes a married female driver age 20, full coverage with $1000 deductibles, and no discounts or violations. It illustrates BMW Z4 insurance rates compared to other makes and models that have a range of performance risks.
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Youthful drivers cost more – Drivers with little experience are statistically shown to be careless and easily distracted behind the wheel therefore auto insurance rates are much higher. Parents adding a young driver to your policy can be quite pricey. Older, more experienced drivers have been proven to be more responsible, tend to cause fewer accidents, and receive fewer citations.
The next chart assumes a single driver, full coverage with $100 deductibles, and no discounts or violations.
- Know your credit score – Your credit score can be a huge factor in determining your rates. Insureds that have excellent credit tend to file fewer claims than drivers with poor credit. If your credit rating can be improved, you could pay less to insure your BMW Z4 if you clean up your credit.
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Claims statistics for a BMW Z4 – Companies use past loss statistics for each vehicle to calculate a rate that will offset losses. Models that tend to have increased claim numbers or amounts will have higher rates for specific coverages.
The table shown below demonstrates the collected loss data for BMW Z4 vehicles. For each policy coverage, the loss probability for all vehicles as a whole is equal to 100. Values that are 100 or less are indicative of better than average losses, while values over 100 indicate a higher chance of having a claim or an increased chance of larger losses than average.
BMW Z4 Insurance Claim Statistics Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury BMW Z4 Convertible 131 67 78 BETTERAVERAGEWORSEEmpty fields indicate not enough data collected
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Buying from auto insurance agents
Certain consumers prefer to visit with an insurance agent and that is a smart decision Most agents are highly skilled in risk management and help file insurance claims. A good thing about getting online price quotes is that you can find cheaper car insurance rates but still work with a licensed agent. And supporting local agents is important particularly in Louisville.
To make it easy to find an agent, after completing this form (opens in new window), the quote information is sent to local insurance agents who will give you quotes for your business. There is no need to drive around since price quotes are sent to you directly. If for some reason you want to compare rates from a particular provider, you just need to go to their quote page and fill out the quote form the provide.
Listed below are agents in Louisville that are able to give comparison quotes for BMW Z4 insurance in Louisville.
- Joe Bell Jr – State Farm Insurance Agent
4016 Preston Hwy – Louisville, KY 40213 – (502) 361-2367 – View Map - Thomas Baker – State Farm Insurance Agent
709 S 4th St – Louisville, KY 40202 – (502) 584-6358 – View Map - Dave Metzger – State Farm Insurance Agent
6015 Bardstown Rd – Louisville, KY 40291 – (502) 239-4800 – View Map - Vince Jarboe – State Farm Insurance Agent
5101 New Cut Rd – Louisville, KY 40214 – (502) 380-3800 – View Map
Picking the best insurer should depend on more than just the quoted price. The following questions are important to ask.
- Do you have coverage for a rental car if your vehicle is in the repair shop?
- How experienced are they in personal risk management?
- Is the agent and/or agency licensed to do business in Kentucky?
- Is insurance their full-time profession?
- Which companies can they place coverage with?
- Are all drivers listed on the coverage quote?
Why do I need car insurance?
Despite the fact that car insurance is not cheap in Louisville, maintaining insurance is required in Kentucky but also provides important benefits.
First, just about all states have minimum liability requirements which means state laws require specific minimum amounts of liability protection in order to get the vehicle licensed. In Kentucky these limits are 25/50/10 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
Second, if your BMW Z4 has a loan, almost all lenders will require that you have physical damage coverage to ensure the loan is repaid in case of a total loss. If you do not pay your insurance premiums, the bank will be required to insure your BMW at a much higher premium rate and require you to pay much more than you were paying before.
Third, car insurance preserves not only your BMW Z4 but also your financial assets. Insurance will also pay for all forms of medical expenses for you, your passengers, and anyone else injured in an accident. Liability coverage, the one required by state law, also pays expenses related to your legal defense if you cause an accident and are sued. If mother nature or an accident damages your car, your car insurance policy will pay to repair the damage.
The benefits of having insurance are definitely more than the cost, particularly if you ever have a claim. According to a survey of 1,000 drivers, the average driver is currently overpaying as much as $850 per year so smart consumers compare quotes once a year at a minimum to save money.
Best auto insurance company in Kentucky
Buying coverage from a good quality auto insurance provider can be difficult considering how many companies provide coverage in Louisville. The company information below may help you select which auto insurance companies to look at comparing rates with.
Top 10 Louisville Car Insurance Companies Ranked by Customer Service
- USAA
- Travelers
- Mercury Insurance
- AAA Insurance
- Nationwide
- Safeco Insurance
- Progressive
- State Farm
- The Hartford
- The General
Top 10 Louisville Car Insurance Companies by A.M. Best Rank
- Travelers – A++
- USAA – A++
- GEICO – A++
- State Farm – A++
- Erie Insurance – A+
- Titan Insurance – A+
- Esurance – A+
- Progressive – A+
- Nationwide – A+
- The Hartford – A+
You can find cheaper coverage
Consumers leave their current company for a number of reasons such as poor customer service, high rates after DUI convictions, being labeled a high risk driver and delays in responding to claim requests. No matter why you want to switch, choosing a new company is not as difficult as it may seem.
We just covered quite a bit of information on how to save on BMW Z4 insurance in Louisville. The most important thing to understand is the more rate comparisons you have, the better likelihood of getting cheaper Louisville auto insurance quotes. Consumers may even find the best prices are with the smaller companies.
When searching for inexpensive Louisville auto insurance quotes, it’s very important that you do not skimp on coverage in order to save money. Too many times, an insured dropped liability coverage limits only to find out that they should have had better coverage. The ultimate goal is to buy a smart amount of coverage for the lowest cost, but do not sacrifice coverage to save money.
Additional learning opportunities
- Liability Insurance Coverage (Nationwide)
- Who Has Cheap Auto Insurance for Teenage Females in Louisville? (FAQ)
- Side airbags reduce rollover fatalities (Insurance Institute for Highway Safety)
- Steps to Take After an Auto Accident (Insurance Information Institute)
- Understanding Your Insurance Deductible (Insurance Information Institute)
- Understanding Car Crashes Video (iihs.org)