Car insurance policies in Kentucky are often more expensive than in other states in the U.S. If you've lived in Kentucky for a while now, this may be no surprise. However, if you've made a move recently, the difference may come as a shock.
What We'll Cover
- Tips For Shopping for Car insurance in Kentucky
- Cheapest Auto Insurance Quotes in Louisville and Jefferson County, Kentucky Overall
- Cheapest Auto Insurance Near Fayette and Kenton County
- Insurance Coverage Requirements in Kentucky
- The Average Cost of Insurance, by Kentucky ZIP Code
- Kentucky Car Accident and Theft Statistics
- Always Compare Your Options Before Committing to a Provider
This is because Kentucky has higher than average traffic fatalities, making it a higher risk for insurance providers to cover. One report even states that the state experiences as many as 1.36 deaths per 100 million miles driven. Compared to a national average of 1.1, KY is rated among the highest.
To ensure you're getting the cheapest car insurance in KY without sacrificing important benefits, we have ranked some of the most affordable options in the area. Although the best auto insurance in KY will vary from person to person depending on many factors, the following guide will help you determine what's best for you and an estimation of what you can expect in quotes.
Tips For Shopping for Car insurance in Kentucky
Since there's no getting around the more expensive premiums in Kentucky, there are some reliable tips to consider before settling on a company:
- Consider ALL your options before choosing an insurance provider to make sure you're choosing the best auto insurance plan for you.
- Compare things like cost, benefits, customer service, availability.
- Know what you want while going into so that you're not talked into any upgrades or add-ons that you don't want or need.
- Don't be afraid to walk away when the deal isn't what you expected. There can be a lot of pressure when both employees and customers spend a lot of time drafting the policy. Never feel like you HAVE to go with it because so much time was spent on it. Your policy is too important to settle on.
- Factors such as your driving history, credit report, age, and make and model of your vehicle can help bring your premium down.
Cheapest Auto Insurance Quotes in Louisville and Jefferson County, Kentucky Overall
A lot of factors will go into whether you pay more or less for your auto insurance in KY, including where you're located in the state. For instance, the cheapest car insurance in Louisville, Kentucky, will not necessarily be the cheapest car insurance in Lexington or other KY cities.
Jefferson County, in particular, consists of a large portion of the state. In fact, there are more than 50 cities in the county, and more than double the population resides there.
Most Affordable Auto Insurance in Jefferson County
Since the county covers such an extensive area, the cheapest auto insurance quotes for the county will be much more generalized than an outlook on specific areas in Kentucky. It should also be noted that averages in Jefferson County should not be considered for cities in other counties.
As the most populated county (home to the most populated city in Kentucky), Jefferson will be much more expensive in all aspects, including auto insurance, cost of living, and local activities and attractions.
With that in mind, the following auto insurance companies are ranked high for providing the cheapest quotes in Jefferson County, KY:
- Kentucky Farm Bureau — about $503 a year
- USAA — about $623 a year
- State Farm — about $506 a year
Cheapest Car Insurance in Louisville, KY
Just because you're in Jefferson County doesn't mean that you should expect the same average premiums. More populated areas often cost more — sometimes even double the average. Take, for instance, Louisville, KY. Residents living here will find that their quotes are a bit higher than Jefferson County's averages.
With that in mind, these three providers have the cheapest car insurance quotes averaged in the area:
- Progressive's quotes are, on average, about $132 a month or $1,584 a year.
- Travelers' quotes are, on average, about $215 a month or $2,580 a year.
- State Farm's quotes are, on average, about $341 a month or $4,092 a year.
Cheapest Auto Insurance Near Fayette and Kenton County
Outside of Jefferson County, premiums are often much lower. This is because Jefferson County is currently the most populated county in Kentucky, with no halt in growth foreseen for the future. In fact, research shows that Jefferson County is currently home to 762,725 residents, while Fayette County is the second most populated county in KY and only has about 325,330 residents in the area.
Near Fayette and Kenton County (third with 169,116 people), you will see car insurance quotes that are nearly half of the quotes previously mentioned. The cheapest quotes averaged in the area are:
- USAA (only for military members and their families) — averages about $340 a month or $4,080 a year.
- GEICO — averages about $355 a month or $4,260 a year.
- State Farm — averages about 405 a month or $4,860 a year.
Insurance Coverage Requirements in Kentucky
Everybody knows that you must, by law, have a valid driver's license and active car insurance to drive a vehicle. What many don't know is that some states require you to have certain coverage in the area. These requirements vary from state to state and are often a result of high rates of accidents and fatalities.
Kentucky, in particular, has car insurance laws that require a minimum of these coverage options:
- Personal injury protection (damage to you in an accident)
- Bodily injury (damages the other party in the accident) — at least $25,000 in bodily injury liability per person and at least $50,000 in bodily injury liability per car accident
- At least $25,000 in property damage liability
It should also be noted that Kentucky is considered a no-fault state. This means that every resident is required to have no-fault insurance because every party must call their own insurance following an accident — no matter who is at fault for the accident.
The Average Cost of Insurance, by Kentucky ZIP Code
Kentucky's state average cost of car insurance is $1,201.
However, it is important that you also know that depending on where you're located in Kentucky, the cost of auto insurance can vary. For instance, areas with higher costs of living will also have higher auto insurance costs than areas with lower costs of living.
To help you gain a better idea of what you can expect with your premiums, we have listed the average car insurance for the top seven most populated zip codes in KY and the average car insurance prices for each.
|Kentucky Area Zip Code||Population||Average Car Insurance Price|
|40475||62,250 people||$200 per month or $2,400 annually|
|42101||61,768 people||$155 per month or $1,860 annually|
|41042||52,185 people||$148 per month or $1,776 annually|
|40601||50,954 people||$148 per month or $1,776 annually|
|42701||50,647 people||$137 per month or $1,644 annually|
|40324||48,251 people||$141 per month or $1,692 annually|
|40214||45,844 people||$273 per month or $3,276 annually|
Kentucky Car Accident and Theft Statistics
To help you better understand why auto insurance premiums are much higher in the state, we've gathered up some of the most relevant car accident and theft statistics. First and foremost, there has been a reduction in fatal accidents in the state over the last few years. Reports indicate figures dropping from 730 in 2018 (spiked to 780 in 2020) to 725 as of early December 2021.
As for car thefts, Kentucky isn't ranked as the highest, but it has experienced a spike in carjackings and thefts in Louisville particularly. According to WHAS11, there were at least 234 incidents in September alone, with 64 cases happening in just one week.
Other statistics affecting insurance costs may include the following:
- On average, 33,914 people are injured on public roads in Kentucky annually.
- There are more than 2.7 million people injured every year in KY due to a car accident.
- Although the average has dropped to an average of 1.36 fatalities, figures have hit as high as 1.50 per 100 million in 2018.
- Car accident rates in Kentucky have been higher than the national average since 2009.
- There are more than 150,000 traffic accidents in Kentucky every year.
- The highest number of reported motor vehicle thefts are in Louisville Metro (4,364) and Lexington (1,158). The only other areas with over 100 incidents at the time were Owensboro (235), Bowling Green (158), Shively (129), and Covington (123).
Always Compare Your Options Before Committing to a Provider
There are tons of car insurance options for you to choose from in Kentucky, no matter where in the state you're located. Since premiums will vary from area to area and person to person, it is important that you always consult multiple companies before settling on one. This way, you'll get the best deal for you by comparing prices, benefits, and any extra features that suit your needs and preferences. Our list alone will not guarantee that you will get the best auto insurance in KY and best deal available. You must use our research to guide you on your way to finding the best fit for you by consulting as many options as possible in your search.