Auto Insurance In Kentucky: How Much Does It Cost?

If you're planning to drive in Kentucky, you'll need to make sure you have the right auto insurance. The Bluegrass State has specific requirements for the minimum coverage you need to be insured on its roads. These include bodily injury liability, property damage liability, uninsured motorist coverage, and personal injury protection. The cost of car insurance in Kentucky depends on various factors, including age, location, and driving history. It's worth noting that Kentucky is a choice no-fault insurance state, which means that each person uses their own insurance to cover any injury-related costs due to an auto accident.

Average cost of car insurance in Kentucky

The average cost of car insurance in Kentucky depends on several factors, including age, gender, location, driving history, and credit score. The national average rate for car insurance is $1,543 per year, but in Kentucky, the average annual cost is $2,104, which is higher than the national average.

In Kentucky, age and gender significantly impact car insurance rates. For example, 16-year-old male drivers added to a family policy typically face an average annual cost of $2,985, the highest premium among all age groups. On the other hand, mature drivers in their 60s enjoy the lowest average costs at $1,102 annually.

The cost of car insurance in Kentucky also varies by city. For instance, in Lexington-Fayette, the average annual premium for full coverage is $934, while in Louisville/Jefferson, it is $1,281.

The choice of coverage level also affects the cost of car insurance in Kentucky. The average monthly premium for state minimum coverage is $44, while full coverage with a $1,000 deductible costs approximately $97 per month. It is recommended to choose full coverage insurance despite the higher cost due to its comprehensive benefits.

A driver's record can significantly impact their car insurance rates in Kentucky. For example, a single speeding ticket can increase the average annual premium to $1,383, while an at-fault accident can raise it to $1,747. A DUI conviction will result in the highest increase, with an average annual premium of $2,174.

In Kentucky, drivers with higher credit scores may receive more favorable rates. The average annual premium for drivers with excellent credit is $820, while those with poor credit can expect to pay $1,674.

Tips to Save on Car Insurance in Kentucky

To find affordable car insurance in Kentucky, it is essential to compare quotes from multiple companies. Maintaining a clean driving record, increasing deductibles, and bundling insurance policies can also help lower costs. Additionally, inquiring about discounts, choosing the right vehicle, and regularly reviewing coverage can ensure Kentucky drivers get the best rates.

Cheapest car insurance companies in Kentucky

The cost of car insurance in Kentucky varies depending on factors such as age, gender, vehicle, ZIP code, driving history, and credit score. The average cost of car insurance in Kentucky is $225 per month for full coverage and $65 per month for minimum coverage.

Geico

Geico offers the cheapest car insurance in Kentucky, with rates as low as $36 per month for minimum liability coverage and $132 per month for full coverage. Geico is also a good option for young drivers, offering the cheapest rates for 16 to 21-year-olds.

State Farm

State Farm is another affordable option, especially for drivers with a DUI on their record. Their rates start at $36 per month for minimum liability coverage. They also have good rates for older drivers, with an average cost of $107 per month for 75-year-olds.

Travelers

Travelers is a good choice for 25-year-old drivers, offering rates as low as $38 per month. They also have competitive rates for drivers with a clean driving record.

USAA

USAA is available to military members, veterans, and their families, and offers some of the lowest rates in the state. Their average cost for full coverage is $41 per month.

Shelter Insurance

Shelter Insurance is consistently one of the cheaper options, especially for high-risk drivers. Their rates start at $59 per month.

Kentucky Farm Bureau

Kentucky Farm Bureau is another affordable option, with rates as low as $38 per month for minimum liability coverage. They also have good rates for teen drivers, with an average cost of $107 per month for 18-year-olds.

Auto-Owners Insurance

Auto-Owners Insurance has the cheapest average annual rate in Kentucky, at $1,450 per year, or about $121 per month. They also have competitive rates for young adults, seniors, and good drivers.

When shopping for car insurance in Kentucky, it's important to compare quotes from multiple providers and consider factors beyond just the price, such as customer service and available discounts.

Average cost of car insurance by age

The average cost of car insurance in Kentucky varies depending on age, gender, and other factors. The average annual cost of car insurance in the state is $2,104, with a monthly cost of $175. The national average, however, is lower at $1,543 per year.

For teenagers, car insurance costs significantly more. The average annual rate for young drivers in Kentucky is $3,506, while for seniors over 60, it is $2,026. The rate for young drivers is $1,480 more than the rate for seniors, reflecting the higher risk associated with younger and less experienced drivers.

For a 17-year-old male driver, the average annual cost of car insurance in Kentucky is $8,061, while for a female driver of the same age, it is $6,992. These rates decrease with age. For a 25-year-old male driver, the average annual cost is $2,551, and for a female driver, it is $2,420.

For a 35-year-old married driver, the average cost of car insurance is similar for both males and females, at around $1,338 per year.

The cheapest car insurance rates in Kentucky are offered by USAA, which caters exclusively to military personnel and their families. The average annual premium for USAA insurance is $1,364. For those who are not eligible for USAA, Auto-Owners Insurance offers the next cheapest rates, with an average annual premium of $1,450.

In addition to age, gender, and choice of insurer, car insurance rates in Kentucky can also be influenced by factors such as location, driving record, credit score, and vehicle type.

Average cost of car insurance by driving record

The cost of car insurance in Kentucky varies depending on a driver's record. A clean driving record can significantly lower insurance rates, while violations like speeding tickets, at-fault accidents, and DUIs will increase them. Here are some average annual and monthly costs for different driving records in Kentucky:

• Clean Driving Record: The average cost of car insurance in Kentucky with a clean driving record is around $1,165 annually or $97 monthly for full coverage, and $531 annually or $44 monthly for minimum coverage.
• With a Ticket: The average cost of car insurance in Kentucky with a speeding ticket is $1,383 per year or $115 per month.
• With an At-Fault Accident: The average cost of car insurance in Kentucky with an at-fault accident is $1,747 per year or $146 per month.
• With a DUI: The average cost of car insurance in Kentucky with a DUI is $2,174 per year or $181 per month.

It's important to note that these rates may vary depending on other factors such as age, gender, credit score, and location. Additionally, the cost of car insurance in Kentucky is generally higher than the national average.

Average cost of car insurance by credit score

The average cost of car insurance in Kentucky is influenced by various factors, including age, gender, driving history, and credit score. While credit score is not the only factor that determines insurance rates, it does play a significant role. Here is an overview of how the average cost of car insurance in Kentucky varies by credit score:

Excellent Credit Score:

According to MoneyGeek, drivers with an excellent credit score can expect to pay around $820 per year for car insurance in Kentucky. This is based on the assumption that the driver has a clean driving record and other favourable factors. The specific rate may vary depending on the driver's age, location, and other factors.

Poor Credit Score:

For drivers with a poor credit score, the average cost of car insurance in Kentucky increases significantly. MoneyGeek estimates that these drivers will pay around $1,674 per year for car insurance. This is about double the rate for drivers with excellent credit, highlighting the impact of credit score on insurance rates.

Geico and Credit Score:

Geico, one of the major insurance providers in Kentucky, offers rates that are influenced by credit score. For drivers with a poor credit score, Geico may be a more affordable option compared to other companies. Their rates for drivers with poor credit start at around $170 per month for full coverage.

State Farm and Credit Score:

State Farm is another popular insurance provider in Kentucky, and their rates are also influenced by credit score. For drivers with a DUI on their record, State Farm offers rates starting at $164 per month for full coverage. This rate is available regardless of the driver's credit score, making it a competitive option for those with poor credit.

USAA and Credit Score:

USAA, an insurance provider exclusively for military members and their families, offers competitive rates that are not heavily influenced by credit score. Their average annual rate of $1,364 is one of the lowest in the state, and it is available to those who qualify for their services.

Farm Bureau and Credit Score:

Farm Bureau is known for offering affordable rates, especially for young drivers and those with a less-than-perfect driving record. Their average rate of $126 per month for full coverage is very competitive, and it may be an attractive option for those with poor credit who are looking for more affordable coverage.

In conclusion, while credit score is a significant factor in determining car insurance rates in Kentucky, it is important to consider other factors as well. Age, gender, driving history, and location can also impact the cost of insurance. It is recommended to shop around and compare quotes from multiple providers to find the most affordable option that meets your specific needs and requirements.

Frequently asked questions