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Cheapest car insurance in Kentucky in 2023
Bankrate analyzed the largest car insurance companies by market share in Kentucky to help you find cheap car insurance. The average cost of car insurance in Kentucky is $658 per year for minimum coverage and $1,954 annually for full coverage. Based on our research, USAA has the cheapest annual premium for minimum coverage at $347 per year. Following closely behind in second place is Kentucky Farm Bureau , with an average annual minimum coverage premium of $374.
Though minimum coverage often offers the cheapest price, the low coverage limits are not for everyone. If you’re looking for more coverage, you may want to shop for cheap full coverage car insurance. State Farm topped our list of cheap Kentucky car insurance companies offering full coverage, with an average premium of $1,363 per year. USAA offers the second cheapest average annual price for full coverage at $1,430 per year.
The cheapest car insurance companies in Kentucky
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Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
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The cheapest companies for minimum coverage in Kentucky
Minimum coverage means that you purchase just the state-required liability limits to drive legally. While this means that you could pay among the lowest Kentucky insurance rates, it also means that you will have relatively low policy limits. Insurance professionals recommend buying higher limits or even full coverage for more financial protection. If you are interested in minimum coverage, though, these are the cheapest companies based on our investigation:
| CAR INSURANCE COMPANY | AVERAGE ANNUAL MINIMUM COVERAGE PREMIUM | AVERAGE MONTHLY MINIMUM COVERAGE PREMIUM |
|---|---|---|
| USAA | $347 | $29 |
| Kentucky farm Bureau | $374 | $31 |
| Westfield | $37 | $31 |
| Electric Insurance | $395 | $33 |
| State Farm | $411 | $34 |
The cheapest companies for full coverage in Kentucky
Full coverage means you add comprehensive coverage and collision coverage to your policy. These two coverage types provide financial protection for damage to your vehicle. If you have a loan or lease, your financial institution likely requires you to carry full coverage. Even if you own your car outright, a full coverage policy can be a good idea if you don’t have the funds available to repair or replace your car out of pocket.
| CAR INSURANCE COMPANY | AVERAGE ANNUAL FULL COVERAGE PREMIUM | AVERAGE MONTHLY FULL COVERAGE PREMIUM |
|---|---|---|
| State Farm | $1,363 | $114 |
| USAA | $1,430 | $119 |
| Geico | $1,499 | $125 |
| Grange | $1,620 | $135 |
| Westfield | $1,682 | $140 |
Events that can impact your cheap rates in Kentucky
Life events often mean your insurance coverage will change, which can lead to an increase in your premium. You may want to consider switching companies or at least shopping around if you’ve experienced one of the following events:
- Added a teen driver: Teen drivers often pay higher rates due to their inexperience driving and high accident frequency. However, premiums for teens usually decrease as they gain experience, assuming they can keep a clean driving record. You may also be able to take advantage of special teen discounts to save money.
- Received a speeding ticket: Insurance companies view speeding tickets convictions as an indication of risky driving behavior. Speeding can lead to more accidents and more severe accidents. As a result, your premium will likely be surcharged for three to five years.
- Involved in an at-fault accident: Like speeding, at-fault accidents can indicate that you may be more likely to cause accidents in the future. Because insurance rates are based on risk, this makes you a riskier driver to insure. Most companies increase rates for at-fault losses for three to five years.
- Deemed a high-risk driver: Not every driver with a few incidents on their driving record will be deemed high-risk. If you have a DUI conviction, several accidents, a few tickets or a combination of driving infractions, though, you could be considered a high-risk driver. This could limit your insurance company options, but you may be able to shop around to find a cheap car insurance policy.
Cheapest cities in Kentucky for minimum coverage
| City | AVERAGE ANNUAL MINIMUM COVERAGE PREMIUM | AVERAGE MONTHLY MINIMUM COVERAGE PREMIUM |
|---|---|---|
| Owensboro | $471 | $39 |
| Philpot | $482 | $40 |
| Whitesville | $482 | $40 |
| Maceo | $483 | $40 |
Cheapest cities in Kentucky for full coverage
| City | AVERAGE ANNUAL FULL COVERAGE PREMIUM | AVERAGE MONTHLY FULL COVERAGE PREMIUM |
|---|---|---|
| Fort Thomas | $1,514 | $126 |
| Owensboro | $1,515 | $126 |
| Dayton | $1,548 | $129 |
| Erlanger | $1,560 | $130 |
Minimum coverage requirements for Kentucky drivers
- $25,000 bodily injury liability per person
- $50,000 bodily injury liability per accident
- $25,000 property damage liability per accident
Here is how to find (and keep) cheap car insurance in Kentucky
- Know your coverage needs: Each driver has unique coverage needs and should be aware of the coverage types that would benefit them and which might not. Paying for coverage you don’t need can increase your insurance costs. For instance, if you have access to another car, you might not need to pay for rental reimbursement on your policy.
- Shop at renewals: When your policy comes up for renewal, consider getting multiple quotes to compare to your current carrier. This is one of the easiest ways to verify you are paying the most affordable rates in your Kentucky city based on your driving record and household profile.
Frequently asked questions
Methodology
Bankrate utilizes Quadrant Information Services to analyze 2022 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on a 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:
- $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $50,000 property damage liability per accident
- $100,000 uninsured motorist bodily injury per person
- $300,000 uninsured motorist bodily injury per accident
- $500 collision deductible
- $500 comprehensive deductible
To determine minimum coverage limits, Bankrate used minimum coverages that meet each state’s requirements. Our base profile drivers own a 2019 Toyota Camry, commute five days a week and drive 12,000 miles annually. These are sample rates and should only be used for comparative purposes.