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Best cheap car insurance in Louisville for 2024
Powered by Coverage.com (NPN: 19966249)
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.
Best cheap car insurance companies in Louisville
Bankrate’s insurance editorial team, which includes licensed agents, knows how important it is to make your hard-earned dollars stretch in this constantly changing market. To help make life easier, we analyzed the premium data supplied by Quadrant Information Services from Kentucky auto insurance carriers and paired it with other factors that matter when selecting an insurance company, such as discounts, availability, coverage selection and more. Based on our analysis, we identified some of Louisville's most affordable and best car insurance companies to meet various needs.
Bankrate Score
Avg. min coverage premium
Min. coverage
Avg. full coverage premium
Full coverage
Why USAA made our list: Compared to other insurance companies, USAA consistently ranks as having the cheapest average cost of car insurance in Louisville and across the U.S. USAA offers an array of coverage options and a SafePilot telematics program that encourages safe driving and offers a potential discount. Additionally, USAA is known for top-notch customer service. While J.D. Power does not officially rank it due to the membership exclusivity needed to sign up for a policy, it typically earns a customer satisfaction score that beats most other carriers.
Why USAA may be the best for military-focused customers: A USAA membership is only open to members of the U.S. military, veterans and their spouses and children. Because military life can be unpredictable, USAA offers 24/7 claims and customer service, no fees on monthly payment plans, a military on-base discount and other benefits that go beyond standard car insurance.
Bankrate Score | 4.2 |
J.D. Power | 759/1,000 |
AM Best Rating | A++ |
Bankrate Score
Avg. min coverage premium
Min. coverage
Not available
Avg. full coverage premium
Full coverage
Not available
Why Nationwide made our list: Nationwide allows drivers in Louisville to customize their policy in diverse ways while providing a lower-than-average premium. Along with several bundling discount options, Nationwide offers accident forgiveness, 10 different discount options and a vanishing deductible where applicable.
Why Nationwide may be the best for usage-based insurance: Telematics is becoming more popular with many car insurance companies, but Nationwide offers two options — SmartMiles®, which is a pay-per-mile car insurance program and SmartRide®, which is a discount option that encourages safe driving. These programs, combined with simple payment options and online live chat features, make Nationwide a stand-out option for Kentucky motorists.
Bankrate Score | 4 |
J.D. Power | 669/1,000 |
AM Best Rating | A+ |
Bankrate Score
Avg. min coverage premium
Min. coverage
Avg. full coverage premium
Full coverage
Why Shelter Insurance made our list: Shelter Insurance is a regional carrier known for affordability and quality customer service. Shelter holds the top spot on J.D. Power’s U.S. Auto Insurance Study for insurers in the Central region and has a low number of customer complaints reported to the National Association of Insurance Commissioners (NAIC).
Why Shelter Insurance may be the best for added perks: Shelter has several optional endorsements to enhance and tailor coverage to meet your needs. What makes Shelter unique is that its policies also include complimentary roadside assistance and new car replacement — even for liability-only policies.
Bankrate Score | 3.8 |
J.D. Power | 679/1,000 |
AM Best Rating | A |
Bankrate Score
Avg. min coverage premium
Min. coverage
Avg. full coverage premium
Full coverage
Why Grange made our list: Grange is a regional carrier that has availability in Kentucky and 11 other states. What it lacks in digital tools it makes up for in financial stability, having made AM Best’s Standing the Test of Time list. Grange uses independent agents who can help you over the phone or at a local office and has 24/7 claims assistance.
Why Grange may be the best for extensive coverage options: Along with the standard coverage types, Grange has a surprising amount of optional coverages for an insurance company of its size. Some unique coverage options are identity theft car insurance, pet injury and full glass coverage, which may come in handy if you frequently drive on I-265.
Bankrate Score | 3.5 |
J.D. Power | |
AM Best Rating | B++ |
Bankrate Score
Avg. min coverage premium
Min. coverage
Avg. full coverage premium
Full coverage
Why Kentucky Farm Bureau made our list: Kentucky Farm Bureau is part of the Farm Bureau family of companies. Along with offering cheap average car insurance rates, members also enjoy additional perks and benefits outside of insurance. A Kentucky Farm Bureau policyholder can save money on computers, office supplies, farm equipment and more. Additionally, its new DriveRight® mobile app may offer additional savings to qualifying drivers.
Why Kentucky Farm Bureau may be the best for cheap car insurance for full and minimal coverage: All the carriers on our list typically offer cheap car insurance or at least average rates much lower than the average cost of auto insurance in Kentucky. However, Kentucky Farm Bureau tends to have rates that are the lowest of all the carriers for both full coverage and minimal coverage insurance. Kentucky Farm Bureau also has several discount options for teens, seniors and military members.
Bankrate Score | 3.4 |
J.D. Power | 687/1,000 |
AM Best Rating | A |
Bankrate's trusted insurance industry expertise
Read our full methodologyCar insurance premiums have increased drastically over the past few years and policyholders need to find ways to save money without leaving themselves financially vulnerable. Bankrate is here to provide you with the tools you need to get the job done. Our editorial team includes licensed agents with real-world industry experience in navigating policy jargon and helping policyholders make complex decisions. We understand that having access to the right tools and information now can help you protect the financial future you are working so hard to create.
46
years of industry experience
122
carriers reviewed
34.5K
ZIP codes examined
1.2M
quotes analyzed
The cheapest car insurance companies in Louisville
When searching for the cheapest car insurance in Kentucky, the type and amount of coverage you require will play a significant role in the cost of your policy. If you own your vehicle outright, you can usually select whatever coverage limit works best for your financial needs and budget. While full coverage isn’t mandatory in Kentucky, insurance professionals recommend drivers carry higher liability limits for better financial protection when possible. Since Louisville is known to have ping-pong ball-sized hail, floods and tornadoes, having comprehensive coverage may also be a financially savvy choice.
However, sometimes your choice of coverage type and level is out of your hands. If your vehicle has an auto loan, your bank will likely require you to include comprehensive and collision coverage. If you lease your vehicle, it is common for your bank to mandate that your policy have higher bodily injury and property damage liability limits of 100/300/50 regardless of the state minimum coverage requirement of 25/50/25.
See the table below for the cheapest insurance companies in Louisville for both full and minimal coverage options.
|
|
|
---|---|---|
Kentucky Farm Bureau
|
$602
|
$1,542
|
$626
|
$2,158
|
|
$980
|
$2,395
|
|
$622
|
$2,584
|
|
$778
|
$2,979
|
How much is car insurance in Louisville, Kentucky?
The average cost of car insurance in Louisville is $3,121 per year for full coverage and $1,002 per year for minimal coverage. When comparing auto rates in Kentucky to the state as a whole, drivers in Louisville pay 16 percent more for full coverage and 29 percent more for state minimum coverage. Keep in mind that these are only averages: actual premiums can vary greatly between providers and depend heavily on rating factors such as age and driving history.
Louisville rates for teens
Age and driving experience is a strong predictor of risk, and youthful operators tend to pay the highest rates for car insurance. Teen driving statistics show that motor vehicle accidents are one of the leading causes of death among 13 to 19-year-olds. Distracted driving, speeding and lack of seatbelt usage are contributing factors and insurance companies rate for this heightened risk.
While adding a teen driver to your car insurance is likely to increase your premium, it can save money in the long run to keep them on your policy as long as possible. Young drivers often pay significantly less for car insurance when they are listed as drivers on their parents' policy instead of signing up for their own insurance.
|
|
|
---|---|---|
$909
|
$909
|
|
Kentucky Farm Bureau
|
$1,460
|
$1,177
|
$1,637
|
$1,025
|
|
$1,871
|
$1,572
|
|
$2,160
|
$1,865
|
|
|
|
---|---|---|
$2,375
|
$2,375
|
|
Kentucky Farm Bureau
|
$3,458
|
$2,869
|
$4,905
|
$3,297
|
|
$5,798
|
$5,074
|
|
$6,055
|
$4,870
|
Louisville rates for young drivers
While drivers under the age of 25 are still deemed “high-risk” by most carriers, by the age of 20 most drivers have gained enough driving experience to see some relief in auto premiums. This age group can still take advantage of good student discounts if they are in school full-time and have a grade point average of 3.0 or higher. However, this is typically the age when drivers drop off their parents’ policy and establish their own car insurance, which may lead to an increase in premiums.
|
|
|
---|---|---|
$977
|
$744
|
|
Kentucky Farm Bureau
|
$1,564
|
$811
|
$1,669
|
$905
|
|
$2,090
|
$1,386
|
|
$2,160
|
$1,034
|
|
|
|
---|---|---|
$3,289
|
$2,578
|
|
Kentucky Farm Bureau
|
$3,828
|
$1,995
|
$4,877
|
$3,307
|
|
$5,644
|
$3,498
|
|
$5,933
|
$3,349
|
Louisville rates for adults
The importance of age as a rating factor decreases as motorists gain more driving experience. This may be different for a driver who acquired their driver's license later in life, but as you can see from the table below, rates in middle adulthood start to even out. Depending on the insurance company, other rating factors like credit score, driving history and even occupation and education may become more important.
|
|
|
|
---|---|---|---|
Kentucky Farm Bureau
|
$622
|
$602
|
$515
|
$657
|
$626
|
$608
|
|
$772
|
$778
|
$757
|
|
$780
|
$622
|
$582
|
|
$1,069
|
$1,058
|
$1,051
|
|
|
|
|
---|---|---|---|
Kentucky Farm Bureau
|
$1,590
|
$1,532
|
$1,260
|
$2,330
|
$2,242
|
$2,018
|
|
$2,910
|
$2,508
|
$2,049
|
|
$3,012
|
$2,486
|
$2,320
|
|
$3,058
|
$2,849
|
$2,848
|
Louisville rates for senior drivers
Once drivers hit retirement age, they may start to see age-related increases in their car insurance premiums. While rates do not typically get as high as they do for teen drivers, the risk factors related to delayed response times, hearing and vision impairments, and more expensive hospitalization due to longer recovery times drive prices up.
While it can be tempting for many seniors to cut coverage from their policy to reduce insurance costs, now could be when they need the most coverage. Instead of cutting back, look for car insurance geared towards seniors or discounts, such as a senior defensive driving course.
|
|
|
---|---|---|
Kentucky Farm Bureau
|
$515
|
$682
|
$547
|
$653
|
|
$599
|
$698
|
|
$733
|
$778
|
|
$801
|
$903
|
|
|
|
---|---|---|
Kentucky Farm Bureau
|
$515
|
$1,509
|
$599
|
$2,225
|
|
$801
|
$2,222
|
|
$547
|
$2,468
|
|
$863
|
$2,692
|
The cheapest car insurance in Louisville by driving record
In all stages of life, maintaining a clean driving record is the best way to keep your Louisville car insurance rates down. However, no matter how prepared and safe a driver may be, accidents happen — and when they do, rates usually go up. If you experience a premium increase after a moving violation or accident, make sure to compare car insurance rates with several carriers to find a more affordable policy. Every insurance company is different and another carrier may rate your incident lower than the one you are currently with.
Car insurance with a speeding ticket in Louisville
Car crash statistics show that speeding is the primary contributor to motor vehicle fatalities. While receiving a speeding ticket for going only slightly above the speed limit might not seem like a big deal, more than half of speed-related fatalities occur on roads with speed limits lower than 55 miles per hour.
Considering the risk of costly property damage and bodily injury claims related to speeding in Kentucky, auto insurance carriers typically increase premiums for up to three years after a speeding ticket. Louisville drivers with a single speeding tickets pay an annual rate of $3,803 for full coverage, which is 23 percent more than Louisville drivers without incidents in their driving history.
|
|
|
---|---|---|
Kentucky Farm Bureau
|
$602
|
$1,542
|
$667
|
$2,723
|
|
$770
|
$2,746
|
|
$900
|
$3,298
|
|
$980
|
$2,395
|
Car insurance after an accident in Louisville
An at-fault accident can also increase your car insurance rates. When a driver has an accident, insurance companies rate the increased risk of them having another accident in the future. On average, drivers in Louisville pay $4,492 per year for car insurance with an at-fault accident on their driving history. That’s approximately 44 percent more than the city average for drivers without accidents.
|
|
|
---|---|---|
$642
|
$2,665
|
|
Kentucky Farm Bureau
|
$831
|
$2,104
|
$950
|
$3,418
|
|
$1,010
|
$3,561
|
|
$1,323
|
$3,054
|
Car insurance after a DUI in Louisville
Drivers with a DUI not only pay more for car insurance, but they may also need to find coverage with a nonstandard carrier since not all insurance companies will underwrite that specific risk. For drivers in Louisville with a single DUI conviction, full coverage car insurance costs 59 percent more, on average, while minimum coverage costs approximately 72 percent more when compared to drivers with clean records.
|
|
|
---|---|---|
$970
|
$3,527
|
|
$1,153
|
$2,734
|
|
$1,172
|
$3,986
|
|
$1,192
|
$3,791
|
|
$1,364
|
$5,311
|
Minimum coverage requiremets in Louisville
Drivers in Louisville must maintain at least minimum liability coverage per Kentucky car insurance law:
- $25,000 bodily injury liability per person
- $50,000 bodily injury liability per accident
- $25,000 property damage liability per accident
- Or a combined single limit policy up to $60,000
Along with New Jersey and Pennsylvania, Kentucky is considered a “choice no-fault” state. Insurance companies are required to offer policyholders personal injury protection (PIP), which they can choose to reject. To reject this coverage, policyholders must complete either a paper or electronic opt-out form within a certain time frame of starting a new policy. If the policyholder fails to complete the form, a minimum of $10,000 in PIP coverage is automatically added back to their car insurance policy.
Frequently asked questions
Methodology
Bankrate utilizes Quadrant Information Services to analyze the latest rates in October 2024 for ZIP codes and carriers in all 50 states and Washington, D.C. Rates include the most recent approved rate changes filed by insurance companies that affect our profile. These revised rates are then weighted based on the population density in each geographic region so that policyholders can see the impact rates have in their areas. 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 coverage that meets each state’s requirements. Our base profile drivers own a 2022 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.
Incidents: Rates were calculated by evaluating our base profile with the following incidents applied: clean record (base), at-fault accident, single speeding ticket and single DUI conviction.
Age: Rates were calculated by evaluating our base profile with the ages 20-70 (base: 40 years) applied. Depending on age, drivers may be a renter or homeowner. Age is not a contributing rating factor in Hawaii and Massachusetts due to state regulations.
Teens: Rates were determined by adding a 16- or 18-year-old teen to their 40-year-old married parents' policy. The rates displayed reflect the total cost of a driver this age added to their parents’ policy.
Bankrate Score
Our 2024 Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories.
Each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. Our scoring model provides a comprehensive view, indicating when companies excel across several key areas and highlighting where they fall short.
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Cost & ratings 50%
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Coverage & savings 30%
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Support 20%
- Tier 1 (Cost & ratings): To determine how well auto and home insurance companies satisfy these priorities, average quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best, Demotech and the NAIC, were analyzed.
- Tier 2 (Coverage & savings): We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated each company’s discount options listed on its website.
- Tier 3 (Support): To encompass the many ways an auto insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from S&P and Moody’s and factored a company’s corporate sustainability efforts.