Cheapest and Best Car Insurance in Lexington, KY (July 2024)

In Lexington, Kentucky, Cincinnati Insurance offers the cheapest minimum coverage car insurance. It also has the best customer service and the best overall value for price and service. Auto-Owners is the most affordable for full coverage, while Nationwide provides the most cost-effective rate for families with teens. Remember, the best choice hinges on personal coverage preferences.

MoneyGeek found that Cincinnati Insurance offers the most affordable minimum coverage car insurance in Lexington, with costs significantly lower than competitors. When considering car insurance options, referring to cheapest car insurance can lead to substantial savings. The top two cheapest choices for minimum coverage are:

• Cincinnati Insurance: $344 per year
• Auto-Owners: $436 per year

Grange Insurance has the priciest minimum coverage policy in Lexington, at $1,028 per year. The notable $684 difference between the highest and lowest price highlights the need to compare car insurance rates to secure financial savings.

In Kentucky, state law prescribes the minimum car insurance coverage required. These are the mandated limits:

• $25,000 bodily injury per person
• $50,000 bodily injury per accident
• $25,000 property damage liability per accident
• $10,000 personal injury protection (PIP) per person

If you're at fault in an accident, your minimum coverage will cover up to $25,000 for an individual's injuries and $50,000 total for injuries per accident. Should costs exceed these limits, the extra expenses would come out of your pocket.

MoneyGeek found that Auto-Owners provides the cheapest full coverage car insurance in Lexington. Residents can enjoy significant savings with the leading providers:

• Auto-Owners: $851 per year
• Nationwide: $878 per year

Allstate offers the priciest policy in Lexington, with an average annual cost of $1,547. The difference of $633 between the cheapest and most costly options highlights the importance of shopping around, as full coverage car insurance costs significantly more than minimum coverage due to the inclusion of comprehensive and collision coverage.

Full coverage policies enhance liability limits by incorporating both comprehensive and collision protection.

• Collision Protection: This ensures your vehicle is covered for damage from impacts with other vehicles or objects like a tree or light pole. It also covers rollover accidents and pothole damage.

• Comprehensive Protection: This offers financial security against damage to your vehicle from non-collision incidents, such as theft, vandalism, fires, natural disasters or being struck by an animal like a deer.

For new vehicles, acquiring full coverage insurance is prudent to protect your investment. However, with older models, the benefit of additional coverage may not outweigh the cost, potentially amounting to hundreds more in expenses. When figuring out how much car insurance you need, consider how higher levels of coverage mean higher premiums, whereas opting for lower levels can leave you underinsured.

MoneyGeek found that the cheapest full coverage option for drivers in Lexington with a poor driving record varies based on the driving offense. Here are the cheapest providers based on specific driving offenses:

• Speeding Ticket: Kentucky Farm Bureau ($958 per year)
• At-Fault Accident: Auto-Owners ($1,194 per year)
• DUI: State Farm ($1,276 per year)

Grange Insurance has the most expensive option after a speeding ticket at $2,062 per year. GEICO is the most expensive provider after an at-fault accident, costing $2,598 per year. Westfield is the priciest for drivers with a DUI at $4,117 per year. The disparity in insurance premiums following different offenses can be substantial, demonstrating how different offenses can significantly impact car insurance rates.

In cities like Lexington, insurance premiums typically increase with the severity of a driving offense due to the heightened risk perceived by insurers. For instance, drivers with a speeding ticket may face an average annual rate of $1,748, whereas those with a DUI could see rates soar to $2,683. Such significant differences underscore the importance for individuals with driving offenses to compare insurance rates diligently, potentially saving hundreds of dollars.

MoneyGeek found that Nationwide offers the cheapest car insurance for teens in Lexington. These are the most affordable providers:

• Nationwide: $1,855 per year for female teens and $1,979 per year for male teens
• Allstate: $1,989 per year for female teens and $2,095 per year for male teens

These rates are based on a combined policy for two parents and a teenage driver. GEICO has the highest annual rate for female teen drivers in Lexington, at $3,876 — higher than Nationwide's policy by $2,021. This striking difference underscores the need to compare quotes, especially with young drivers, who are statistically more prone to accidents and more expensive to insure.

In Lexington and many other cities, young drivers face steep car insurance premiums, with a marked difference when they purchase individually vs. being added to a family plan. Teens may pay significantly more for an individual policy and find getting approval challenging. Joining a family plan becomes a more cost-effective option due to the pooling of risks and the extended coverage benefits it offers. Insurers view teens as high-risk drivers due to their inexperience, leading to higher individual premiums and stricter qualification requirements. It is financially prudent for families to opt for joint policies, reducing costs while providing necessary protection for their young drivers.

MoneyGeek found that Auto-Owners is the cheapest option for full coverage car insurance for military backgrounds in Lexington. For veterans and military members looking for the most affordable rates, here are the top contenders:

• Auto-Owners: $851 per year
• Nationwide: $878 per year

Despite not being the lowest-priced option, USAA ranks sixth with a competitive annual premium of $1,015. The company is a commendable choice for military families seeking insurance providers that understand and specifically cater to the unique needs of active duty military members.

Finding the most competitive car insurance rates in Lexington requires thorough comparison, which might take upwards of 15 minutes per insurer. This becomes a time-consuming task if reviewing three or more companies.

MoneyGeek's car insurance calculator is an efficient tool tailored to focus on key factors influencing car insurance premiums in Lexington. Input details like your age, driving record, credit score and desired coverage to obtain a swift, tailored rate estimate.

Choosing the best car insurance depends on how you value factors like service, cost and coverage. MoneyGeek's unique scoring system evaluated the top car insurance providers in Lexington for various preferences:

• Best overall: Cincinnati Insurance (MoneyGeek score 92 out of 100)
• Best for service: Cincinnati Insurance (MoneyGeek score 93 out of 100)
• Best cheap: Cincinnati Insurance (MoneyGeek score 96 out of 100)

Cincinnati Insurance is the top provider for the three categories, offering the best service, affordability and overall value.

MoneyGeek found that Cincinnati Insurance is the top option in Lexington for car owners seeking the best car insurance.

• Cincinnati Insurance: MoneyGeek score of 92 out of 100 ($944 per year)
• Auto-Owners: MoneyGeek score of 88 out of 100 ($851 per year)

Cincinnati Insurance sets itself apart with a strong combination of high marks in customer satisfaction and affordability. Its high score for a full coverage policy demonstrates excellence that Lexington car owners can count on.

MoneyGeek found that Cincinnati Insurance is the best option in Lexington for car insurance customer service. It stands out with superior general satisfaction, effective claims handling and comprehensive coverage.

• Cincinnati Insurance: MoneyGeek score of 93 out of 100 ($944 per year)
• Westfield: MoneyGeek score of 92 out of 100 ($1,547 per year)

Cincinnati Insurance distinguishes itself from competitors with an impressive balance of high satisfaction rates and claims resolution capabilities, which are significant factors contributing to its top MoneyGeek score. Its stellar performance in these areas ensures that policyholders receive unparalleled service quality and coverage reliability.

MoneyGeek found that Cincinnati Insurance offers the best cheap car insurance in Lexington. Known for balancing affordability and comprehensive service, this company doesn't compromise on claims handling and general customer satisfaction while keeping premiums low.

• Cincinnati Insurance: MoneyGeek score of 96 out of 100 ($344 per year)
• Auto-Owners: MoneyGeek score of 88 out of 100 ($436 per year)

Cincinnati Insurance distinguishes itself with a nearly perfect blend of cost efficiency and quality service. Scoring exceptionally high across the board, particularly in affordability, it's clear why it holds the top spot for minimum coverage policies. The MoneyGeek score reflects the company's dedication to providing value to its customers without cutting corners on essential aspects of car insurance.

In Lexington, Kentucky, the average car insurance cost is $1,236. This figure is less than the average car insurance cost in Kentucky, at $1,389 per year. Compared to the national average of $1,781 per year, Kentucky's average is significantly lower by $392.

Car insurance premiums are influenced by various factors, with location being significant. Location affects insurance costs due to varying risks of accidents, theft and natural disasters. According to MoneyGeek's analysis, Louisville has the most expensive premium at around $1,667 per year, $278 more than the state average. On the other hand, Lexington has the cheapest premium at $1,236 per year, $153 less than the Kentucky average. In less populated, non-city areas where traffic density is lower, it's common for rates to be even more competitive.