How To Save On Kentucky Car Insurance? 5 Tips To Reduce Costs

By Randy Luton | Last Updated: 05/18/2022

Key Insights:

  • The average car insurance rate in Kentucky is much higher as compared to other states of our country.
  • There are several reasons behind the increasing rates of car insurance policies in Kentucky that every driver should know about.
  • The best thing is; there are several ways to get affordable car insurance in Kentucky as well.
  • The drivers are allowed to combine these different ways to get the cheapest insurance policy for their profile.

The average car insurance rate in Kentucky is $1536; which is much higher than in most of the states. The drivers of the lower class, lower middle class, and middle-class section are finding it too difficult to afford car insurance in Kentucky. RateForce understand your need to find cheaper rates hence we have created this detailed guide for Kentucky drivers.

Keep reading this guide till the end to understand why the Kentucky drivers have to pay extra for their car insurance and what they can do to get the policy at cheaper rates.

Average Car Insurance Cost in Kentucky

Every company has its own method of calculating the car insurance cost and creating profiles for drivers. Based on these profiles they calculate the average policy rate for that driver. This car insurance profile of the driver is created based on several different aspects and this is the reason that the average car insurance cost for any driver can vary a lot from company to company.

To help you understand how car insurance rates vary from company to company; we have created a list of some top car insurers of Kentucky along with their average cost:

CompanyAnnual car insurance rate in Kentucky
State Farm$1,341
Farm Bureau$1,483
Geico$2,714
Progressive$3,027
Nationwide$3,235
Allstate$3,411
USAA$1,723

Why Car Insurance is Expensive in Kentucky?

Location of the driver also decides the rate of the car insurance policy; state where a driver lives plays a huge role. Even the cities in a state also play a role in increasing or decreasing the car insurance value.

There are cities like Louisville, Frankfort, and Elizabethtown in Kentucky where you will notice the car insurance rates are different from the rest of the cities. But the main question that arises is; why do the rates vary from state to state?

There are several reasons behind this but to help you understand this quickly we have decided to list out the top reasons why car insurance is so much expensive in Kentucky:

1. The High Population Of The State

Kentucky has more than 4.5 million population at present. A higher population leads to crowded roads and highways which means higher chances of getting into an accident. And we all know that higher accidents mean higher claims which leads to the loss of the company through higher insurance rates.

2. Expensive Healthcare

More than 50% of Kentucky citizens are finding it difficult to afford healthcare expenses because of the increasing rates of basic healthcare facilities. This is also another major reason that insurance companies provide higher rates to the drivers because they also have to pay higher claims in case of injuries in an accident.

3. Higher Limits For Minimum Liability Car Insurance

Unlike other states; the minimum required car insurance in Kentucky is higher than the average rates. A driver will have to buy at least a $25,000 policy for Bodily Damage and $25,000 for Property Damage. This affects the budget of the driver and even if the income is low he or she will have to pay for the car insurance as per the minimum limits.

4. Unpredictable And Unfavorable Weather

Weather of any state plays a major role in the car insurance rate for any driver. Kentucky is prone to flash floods and seasonal snowing. This leads to huge damage to the vehicles and ultimately higher claims every year. As a result; the insurance companies provide higher quotations to the drivers so that they can keep themselves covered from the losses.

5. Uninsured Drivers

The number of uninsured drivers and higher insurance rates are directly proportional. The higher insurance rates lead to more uninsured drivers and more uninsured drivers lead to higher insurance rates. Why? Because uninsured drivers are a liability for insurance companies.
When an uninsured driver gets into an accident; even if they are at fault they will not pay for the damages caused to the victim’s property. Then the insurance company of the victim will pay for the damages.

How to Save on Kentucky Car Insurance?

Now that we know why car insurance is expensive in Kentucky; let’s have a look at the ways we can save our money while buying or renewing our policy. Below are the top tried and tested ways that every driver in Kentucky should try to get cheaper car insurance rates:

  1. Shop Around And Compare The Rates
    This is an age-old but very well-tested method to get affordable rates. As we have talked about before; every company has its own way to calculate the car insurance rates for every driver. As a result; there are chances that you might get lower insurance rates from one company and higher from the other.
    It is always advisable to make a list of all the top car insurance companies in your area and compare their average rates before paying one company.
  2. Get A Safe Parking Space
    As mentioned above Kentucky people can witness floods and snow anytime hence they have to be prepared. If you can prove to your insurance company that you have a safe parking space and your vehicle will be safe from floods and snow then you might get some discount.
    Your insurance company will consider you as a safe driver and hence you will get affordable rates.
  3. Keep Adjusting Your Coverage From Time To Time
    When was the last time you updated your car insurance policy? Most of the time drivers forget to update their policies and keep on paying for the coverages that they don’t even need. If you have an older car then you can skip comprehensive and collision insurance and stick to only the minimum required coverage.
  4. Get A Defensive Driving Course
    By completing a defensive driving course you will become a safe driver and the chances of getting into an accident will become less. These courses help the drivers to improve their driving and judgment skills which makes them safer. Fewer accidents mean fewer claims which results in more profits for the insurance companies.
  5. Invest In Modern Safety Features
    There are a lot of advanced hi-tech safety features like automatic seat belts, anti-lock brakes, anti-theft alarms, etc. are available for the safety of cars and drivers. By adding these features to your car you can get affordable insurance policies because you will be considered a safe driver.

Over To You!

Now that you know all the nitty-gritty of car insurance in Kentucky and you are aware of the best ways to get the cheapest policy; it’s time to make a decision. There is no doubt that drivers in Kentucky are not able to afford car insurance in Kentucky and that is why it is important to get quotes from different companies. If you are looking for car insurance rates from top companies in your area then RateForce is here to save your time and money.

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SOURCES

  • Referred to US News to understand the car insurance rates in Kentucky on 22nd February 2022.
  • Checked Cenesus.Gov for the population of Kentucky in 2021 on 22nd February 2022.
  • Referred to Healthcare Value Hub for the details about expensive healthcare facilities in Kentucky on 22nd February 2022.
  • Visited the official website of Kentucky State to understand the minimum required insurance on 22nd February 2022.
  • Checked the Weather website to understand the climatic conditions of Kentucky on 22nd February 2022.

Editorial Guidelines: The above is meant as general information to help you understand the different aspects of auto insurance. This information does not refer to any specific auto insurance policy. Coverages and other features vary between insurers, vary by state, and are not available in all states. References to costs of coverages/repair, average or typical premiums, amounts of losses, deductibles, etc., are indicative and may not apply to your situation. We encourage you to speak to our insurance representative and to read your policy contract to fully understand your coverages.

Randy Luton is the Founder and CEO of RateForce. He is passionate about InsurTech services and has in-depth knowledge about the auto insurance sector of the USA.