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Best cheap car insurance in Louisville for 2024

Updated Apr 23, 2024
Bankrate’s latest research shows that Kentucky Farm Bureau, USAA and Shelter average the lowest rates in Louisville for full coverage car insurance.
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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 several insurance carriers and paired it with other factors that matter when selecting an insurance company, such as discounts, availability, coverage selection and more. The end result? We found some of Louisville's most affordable and best car insurance companies to meet various needs.

Best for military-focused coverage

Bankrate Score

Rating: 4.2 stars out of 5
4.2

Avg. min coverage premium

$612

Min. coverage

Avg. full coverage premium

$2,291

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.

Scores and Ratings
Bankrate Score 4.2
J.D. Power 876/1,000
AM Best score A++
Read full review
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Best for usage-based insurance

Bankrate Score

Rating: 4 stars out of 5
4

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.

Scores and Ratings
Bankrate Score 4
J.D. Power 834/1,000
AM Best score A+
Read full review
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Best for added perks

Bankrate Score

Rating: 3.8 stars out of 5
3.8

Avg. min coverage premium

$980

Min. coverage

Avg. full coverage premium

$2,415

Full coverage

Why Shelter Insurance made our list: Shelter Insurance is a regional carrier known for affordability and quality customer service. Shelter holds the #1 spot on J.D. Power’s 2023 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.

Scores and Ratings
Bankrate Score 3.8
AM Best score A
Read full review
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Best for extensive coverage options

Bankrate Score

Rating: 3.5 stars out of 5
3.5

Avg. min coverage premium

$1,427

Min. coverage

Avg. full coverage premium

$2,997

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.

Scores and Ratings
Bankrate Score 3.5
AM Best score B++
Read full review
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Best for full and minimal coverage

Bankrate Score

Rating: 3.4 stars out of 5
3.4

Avg. min coverage premium

$522

Min. coverage

Avg. full coverage premium

$1,116

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.

Scores and Ratings
Bankrate Score 3.4
J.D. Power 857/1,000
AM Best score A
Read full review
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Bankrate's trusted insurance industry expertise

Read our full methodology

Car 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 or any other location, 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.

Insurance company Average annual min coverage premium Average annual full coverage premium
Kentucky Farm Bureau
$522
$1,116
$612
$2,291
$980
$2,415
$622
$2,584
$909
$2,726

How much is car insurance in Louisville, Kentucky?

The average cost of car insurance in Louisville for full coverage is $3,120 per year and $995 per year for minimal coverage. When comparing auto rates in Kentucky to the state as a whole, drivers in Louisville pay more for both full and minimal coverage than the state average. On average, full coverage insurance in Kentucky costs $2,694 per year and minimum coverage costs $774 per year. These premiums can vary greatly between providers and 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, drivers under the age of 25, 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 13-19-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 will 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.

Coverage type
Insurance company 16-year-old* 18-year-old*
$961
$843
Kentucky Farm Bureau
$1,298
$956
$1,634
$948
$1,906
$1,463
$2,140
$1,847
*Annual 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.
Insurance company 16-year-old* 18-year-old*
$2,501
$2,266
Kentucky Farm Bureau
$2,570
$1,949
$5,322
$3,316
$5,382
$4,278
$5,937
$4,521
*Annual 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.

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. Typically it is around this age when adult children start their own car insurance policies.

Coverage type
Insurance company 20-year-old 25-year-old
$954
$728
Kentucky Farm Bureau
$1,356
$703
$1,662
$902
$2,090
$1,386
$2,160
$1,034
Insurance company 20-year-old 25-year-old
Kentucky Farm Bureau
$2,760
$1,448
$3,499
$2,742
$4,920
$3,335
$5,586
$3,452
$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.

Coverage type
Insurance company 30-year-old 40-year-old 50-year-old
Kentucky Farm Bureau
$539
$522
$447
$643
$612
$600
$768
$775
$754
$780
$622
$582
$917
$909
$902
Insurance company 30-year-old 40-year-old 50-year-old
Kentucky Farm Bureau
$1,151
$1,116
$933
$2,480
$2,291
$2,154
$2,792
$2,726
$2,602
$2,935
$2,415
$2,058
$3,012
$2,584
$2,320

Louisville rates for senior drivers

Once drivers hit retirement age, they will 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.

Coverage type
Insurance company 60-year-old 70-year-old
Kentucky Farm Bureau
$447
$592
$547
$653
$586
$682
$730
$775
$801
$903
Insurance company 60-year-old 70-year-old
Kentucky Farm Bureau
$447
$1,126
$801
$2,241
$586
$2,358
$547
$2,468
$830
$2,681

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Advertising disclosure
This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.

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.

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 speeding tickets pay an annual rate of $3,120, which is 16 percent more than the Kentucky average of $2,694.

Insurance company Average min coverage rate Average full coverage rate
Kentucky Farm Bureau
$522
$1,116
$666
$2,723
$750
$2,922
$894
$3,247
$980
$2,415

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 pay $3,873 per year for car insurance in Kentucky with an at-fault accident on their driving history. Drivers in Louisville pay 17 percent more at $4,526 per year after having an at-fault accident.

Insurance company Average min coverage rate Average full coverage rate
$642
$2,665
Kentucky Farm Bureau
$720
$1,518
$927
$3,638
$1,006
$3,511
$1,315
$3,788

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. Full coverage car insurance rates after a DUI in Kentucky average $4,131 per year. Drivers in Louisville average $4,540 per year, which is 10 percent more the Kentucky average.

Insurance company Average min coverage rate Average full coverage rate
$953
$3,765
$1,110
$3,498
$1,156
$2,756
$1,171
$3,932
Kentucky Farm Bureau
$1,305
$2,704
Lightbulb

Minimum coverage requiremets in Louisville

Drivers in Louisville must maintain at least minimum liability coverage per Kentucky car insurance law:

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 May 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.

5
Rating: 5 stars out of 5
Overall Score
  • Cost & ratings 50%
  • Coverage & savings 30%
  • 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.
Written by
Shannon Martin
Writer, Insurance

Shannon Martin is a licensed insurance agent and Bankrate analyst with over 15 years of experience in the industry. She enjoys helping others navigate the insurance world by cutting through complex jargon and empowering readers to make strong financial decisions independently.

Edited by Senior Editor, Insurance