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Best Cheap Car Insurance in Kentucky for 2018

January 31, 2018
Auto Insurance, Insurance

It’s important to shop around when looking for cheap car insurance in Kentucky. Rates for the same set of coverages can change dramatically from one company to the next, so you’ll benefit from comparing as many estimates as possible.

To make things easier, NerdWallet researched rates from the seven largest insurers in the state and found the three cheapest options for the following types of drivers:

Good drivers

Young drivers

Drivers with one at-fault crash

Drivers with poor credit

Retired drivers

Also in this article

Minimum Kentucky auto insurance requirements

Alternative car insurance in Kentucky

» FIND YOUR MATCH: Who’s the cheapest carrier for you?

Cheapest for good drivers

For drivers with no at-fault accidents, DUIs or moving violations.


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Price

  • $1,054/year

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Price

  • $1,357/year

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Price

  • $1,555/year

The average cost for good drivers among the three cheapest companies was roughly $1,322 per year.

Kentucky Farm Bureau notched the lowest average estimate at $1,054 per year, which translates to about $88 a month. State Farm followed closely behind, and Geico rounded out the list of cheapest options. To trim rates, drivers with clean records should look into discounts that reward safety behind the wheel, such as for avoiding moving violations or accidents for an extended period.

Cheapest for young drivers

For drivers in their early 20s.


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Price

  • $758/year

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Price

  • $834/year

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Price

  • $996/year

Drivers in their early 20s typically can get by with leaner policies than older motorists, who likely would have greater savings on the line if they were to be sued over a car accident. We gathered quotes for young drivers carrying the minimum required coverage in Kentucky, which is why prices for this group are relatively low.

Kentucky Farm Bureau led the field with the cheapest average rate, at $758 a year. That’s $296 less than the best deal we found for 30-year-old good drivers who had more coverage and higher limits. State Farm and Geico were next cheapest, respectively.

Cheapest for drivers with one at-fault crash


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Price

  • $1,310/year

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Price

  • $1,594/year

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price

  • $4,165/year

Causing a crash likely means your insurer must compensate others for injuries or property damage, and that usually results in a rate increase. The most affordable quote we found for this group was $1,310 per year from Kentucky Farm Bureau. That’s $256 higher than the cheapest rate for drivers of the same age with no crashes on record, also from Kentucky Farm Bureau.

Failing to shop around can mean getting stuck with even worse rates. The third-cheapest option, Allstate, had an average quote that was over $2,800 more than Kentucky Farm Bureau’s, and the most expensive rate we saw was more than $5,200 per year.

Cheapest for drivers with poor credit

For drivers placed in the “poor credit” tier.


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Price

  • $2,604/year

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Price

  • $3,437/year

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Price

  • $3,753/year

Insurers may use your credit score to help predict your chances of making claims down the road. Those with poor credit tend to face higher rates than most other motorists. State Farm had the best deal in our findings for drivers with poor credit, at $2,604 per year. That’s $1,550 more than the best rate we found for good drivers with good credit, and almost $1,300 higher than the lowest quote for drivers with an at-fault crash.

Prices skyrocketed from there, with Geico returning the second-cheapest estimate of $3,437 per year and Kentucky Farm Bureau at $3,753, coming in third. The priciest estimate we saw for equal coverage was nearly $8,300, highlighting the value of shopping for the best rate.

Cheapest for retired drivers

For drivers in their mid- to late 60s who no longer use their car for commuting.


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price

  • $992/year

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price

  • $1,264/year

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Price

  • $1,298/year

Retired drivers, given their reduced annual mileage compared to commuters, can score relatively cheap car insurance in Kentucky.

We collected rates for drivers in their 60s who travel half as much each year as other groups. State Farm fetched the lowest average quote by far, at $992 per year. Second-cheapest Geico and third-cheapest Kentucky Farm Bureau were hundreds higher, at $1,264 and $1,298, respectively.

Minimum Kentucky auto insurance requirements

Kentucky car insurance policies must include at least liability coverage and personal injury protection in the following amounts:

  • $25,000 bodily injury liability per person
  • $50,000 bodily injury liability per incident
  • $10,000 property damage liability per incident
  • $10,000 PIP

Keep in mind that these are only the bare essentials. A serious at-fault crash could easily leave damages that surpass these limits, which is why most drivers can benefit from purchasing more than the minimum liability coverage.

Check out NerdWallet’s rundown of car insurance requirements by state for more details on how your Kentucky auto insurance policy works and optional coverages you might want, such as collision and comprehensive insurance.

Alternative car insurance in Kentucky

Drivers who’ve been denied car insurance on the voluntary market, due to a checkered driving record or other factors, can seek coverage through the Kentucky Automobile Insurance Plan.

Try NerdWallet’s car insurance quote comparison tool to view estimates from leading companies side-by-side and possibly save hundreds of dollars on your premium.

Here’s a summary of where you’ll find the cheapest insurance, by category:

Cheapest car insurance in Kentucky

CategoryCheapest option
Good driversKentucky Farm Bureau
Young driversKentucky Farm Bureau
Drivers with one at-fault crashKentucky Farm Bureau
Drivers with poor creditState Farm
Retired driversState Farm

METHODOLOGY

For most categories, NerdWallet averaged rates for 30-year-old men and women in 10 ZIP codes and with the following coverage limits:

  • $100,000 bodily injury liability coverage per person
  • $300,000 bodily injury liability coverage per crash
  • $50,000 property damage liability coverage per crash
  • $100,000 uninsured motorist bodily injury coverage per person
  • $300,000 uninsured motorist bodily injury coverage per crash
  • $10,000 personal injury protection
  • Collision coverage with $1,000 deductible
  • Comprehensive coverage with $1,000 deductible

We used a 2014 Toyota Camry in all cases. Our sample retired driver was age 67 and drove 50% fewer annual miles than motorists in other groups. Our sample young driver was age 22 and carried the minimum required coverage levels. These are sample rates generated through Quadrant Information Services. Your own rates will be different.

 


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