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Best cheap car insurance in Louisville

Bridge into Louisville
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Bridge into Louisville
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According to research from Bankrate, the average cost of full coverage car insurance in Louisville is $2,274 per year, or $190 per month. The average cost for minimum coverage in Louisville averages $950 per year. That means drivers in Louisville tend to pay more than the national average of $1,674 per year for full coverage auto insurance, or $565 per year for minimum coverage.

Considering the higher average costs, drivers may be looking for the best cheap coverage options in Louisville. The cheapest car insurance in Louisville is Geico, according to Bankrate’s 2021 study of quoted annual premiums. Plus, there are other car insurance companies that offer cheap insurance in Louisville, which means there are options if you’re looking for the best cheap car insurance in this city.

Best cheap car insurance companies in Louisville

Geico, USAA, Progressive and Kentucky Farm Bureau are the cheapest car insurance companies in Louisville, according to Bankrate’s study using rate information from Quadrant Information Services. Bankrate also assigned a Bankrate Score to each provider to offer further insight. Bankrate Scores are based on a 5 point scale, and are awarded based on an evaluation of the company’s rates, coverage options, discounts, third-party industry ratings and other factors. Drivers in Louisville can use the same criteria to find the best car insurance for their unique situation.

Insurance company Bankrate Score J.D. Power score*
(Southeast region)
Average annual premium for full coverage Average annual premium for minimum coverage
Geico 4.73 843/1,000 $1,457 $539
USAA* 5 890/1,000 $1,488 $384
Progressive 4.4 828/1,000 $1,509 $582
Kentucky Farm Bureau 4.73 866/1,000 $1,754 $397

*Not officially ranked by J.D. Power due to eligibility restrictions

Geico

Geico offers the cheapest average rates in Louisville for full coverage car insurance, with an average annual premium of $1,457. This provider earned an A++ rating (Superior) from AM Best and also offers numerous discounts that may help you save on your car insurance premium. The potential discounts include savings of up to 23% for having airbags or an anti-theft system. New vehicles may also qualify for up to a 15% discount. You may be able to save even more if you qualify for a good student discount or take an approved defensive driving course. However, Geico does not score as highly as some of the other providers in the Southeast on the 2021 J.D. Power Auto Insurance Study.

Learn more: Geico Insurance review 

USAA

USAA consistently earns high overall marks on the J.D. Power auto insurance customer service study for the Southeast region. However, USAA does have membership requirements that limit it to military members, veterans and their eligible family members, which keeps it from being ranked by J.D. Power among the other insurance providers.

Still, USAA may be an option worth considering for members who qualify, as it offers some of the cheapest rates in Louisville, even without the wide range of discounts offered by other companies. It also earned an A++ rating (Superior) from AM Best, indicating its financial strength, which is one reason it earns a perfect 5 for its Bankrate Score.

Learn more: USAA Insurance review

Progressive

Progressive scored below the industry average in the Southeast on the 2021 J.D. Power survey, but the competitive rates offered by this insurance provider, along with the extensive list of discounts, help to make up for it. Progressive also offers customers numerous ways to save, including the popular “Name Your Price” tool, where you confirm your budget and Progressive offers an insurance policy based on what fits best within your budget.

Progressive offers a variety of coverage options, too, which means you can customize your policy where your budget allows. It offers gap insurance, rideshare coverage and other specialty coverages to make sure you have the most well-rounded policy possible.

Learn more: Progressive Insurance review

Kentucky Farm Bureau

Kentucky Farm Bureau offers competitive rates for car insurance Louisville, and the customer satisfaction rating is so high it rises well-above the industry average in the Southeast with the 2021 J.D. Power survey. The provider serves customers in all 120 Kentucky counties and operates 18 agencies in Jefferson County while offering a wide range of coverage options. Although you have to file a claim by phone, the company’s customer service satisfaction rating indicates this isn’t too much of a barrier.

Kentucky Farm Bureau also offers an impressive number of discounts, including the DriveRight® Mobile program. This gives you the opportunity to save up to 5% in premiums based on your driving habits and feedback from the safe driving app. There are also discounts offered for military members, students, multiple policies and many other options.

How to get and keep the cheapest car insurance in Louisville

You know you need to find the most competitive rates for your financial situation, but keeping the rates is also another consideration. Bear this in mind as you are looking for ways to find the cheapest car insurance in Louisville.

  • Shop multiple carriers. Comparison shopping may seem like it’s too time consuming, but taking the extra step of getting personalized quotes from multiple providers will help you determine which insurance provider truly offers the cheapest rates for your situation. Plus, it will provide you a better idea of what each provider is offering and how you are treated as a customer.
  • Maintain a clean driving record. Avoiding claims and staying accident-free are the best approach for your safety, and will help you pay the least amount in rates, too. You may qualify for additional discounts by avoiding accidents and taking part in an approved driver safety course.

Frequently asked questions

Methodology

Bankrate utilizes Quadrant Information Services to analyze 2021 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 coverage that meets 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.

Bankrate Score

Bankrate Scores primarily reflect a weighted rank of industry-standard ratings for financial strength and customer experience in addition to analysis of quoted annual premiums from Quadrant Information Services, spanning all 50 states and Washington, D.C. We know it is important for drivers to be confident their financial protection covers the likeliest risks, is priced competitively and is provided by a financially-sound company with a history of positive customer support.

To determine how well the best car insurance companies in Louisville satisfy these priorities, third-party agency ratings from J.D. Power, AM Best, S&P, NAIC, and Moodys had the most impact on the companies’ Bankrate Scores. As price is a common consideration for drivers, we analyzed quoted premiums based on 40-year-old male and female drivers with a 2019 Toyota Camry. This profile, assessed across more than 35,000 ZIP codes in the U.S., provided a basis on which drivers may compare each provider.

While coverage options, insurer availability, affordability and customer experience are often the top priorities, Bankrate also analyzed each insurer’s online and mobile resources for policy management and claims handling. Insurance is rapidly evolving to keep pace with our digital world, so these aspects also carried weight in determining Bankrate Scores.

Written by
Sara Coleman
Former Insurance Contributor
Sara Coleman is a former insurance contributor at Bankrate. She has a couple of years of experience in writing for insurance domains such as The Simple Dollar, Reviews.com, Coverage.com and numerous other personal finance sites. She writes about insurance products such as auto, homeowners, renters and disability.
Edited by
Insurance Editor