Cheap Car Insurance Companies In Kentucky

The average semiannual cost of car insurance in the state of Kentucky is $1344.50. An insured premiums are influenced by more variables than purely their place of residence. Car insurance underwriters calculate auto insurance rates after assessing a range of criteria such as the policyholder’s age, driving record, marital status, and credit rating. We examined typical car insurance costs in Kentucky across each of the predominant rating factors. We aim to provide consumers insight to identify a car insurance policy that meets their needs and budget.

*Data Methodology – Updated 3/2/2024

The Kentucky car insurance rates are based on a 35-year-old male with the most popular car (Honda Accord) living in KY. The Quote is for full coverage with comprehensive at $500 deductible and collision at $500 deductible.

Kentucky Minimum Liability Coverage

Minimum auto insurance requirements in Kentucky include:

• Bodily Injury Liability Coverage of $25,000 per individual and $50,000 per accident. This covers medical costs for others you injure in an accident.
• Property Damage Liability Coverage of $10,000. This covers damage to other people’s property from an accident you cause.
• No-fault Personal Injury Protection of $10,000. This covers medical expenses for you and any passengers in your vehicle after an accident, regardless of fault.
• Uninsured Motorist Coverage of $25,000 per person and $50,000 per accident. This covers injuries you sustain in an accident caused by an uninsured or hit-and-run driver.
• Underinsured Motorist Coverage. This covers injuries when the at-fault driver does not have enough insurance to fully compensate you. While not required, this coverage is recommended.

Penalties for Driving Without Insurance in Kentucky

Driving without insurance in Kentucky can result in expensive fines, penalties, and other consequences. If you are caught driving without insurance in Kentucky, you face the following penalties:

• A fine of at least $500 for the first offense. The fine increases with each subsequent offense, up to $1,000 for the third and subsequent offenses within a 36-month period.
• License suspension of up to 6 months for the first offense and up to 12 months for subsequent offenses.
• Vehicle registration revocation. The registration of the uninsured vehicle will be revoked by the state until you provide proof of insurance.
• Possible jail time. For a second or subsequent offense within a 5-year period, you could face jail time of up to 30 days.

In addition to these official penalties, driving without insurance in Kentucky can result in other negative consequences. If you are in an accident and found to be uninsured:

• You will be responsible for all costs associated with the accident out of pocket. This could easily amount to tens of thousands of dollars or more.
• You may have difficulty renewing your license and registration in the future. Kentucky requires proof of insurance to renew vehicle registration.
• Your rates will likely increase significantly if and when you do purchase insurance. Insurance companies consider uninsured drivers as higher risks.

Auto Insurance Rates in Kentucky

Auto insurance rates in Kentucky can vary widely based on several factors. Some of the main factors that determine your insurance premiums include your age, driving history, credit score, coverage limits, and the type of vehicle you drive.

For starters, your age can have a big impact on your rates. Typically, younger drivers under 25 years old pay the most for car insurance due to their inexperience and higher risk of accidents. Rates tend to go down as you get older and gain more driving experience without claims.

Your driving history also matters a lot. Having a clean driving record without tickets, accidents, or violations will qualify you for lower rates. The more claims you have filed, the higher your premiums will likely be in the future. Your credit score also factors into the algorithm that insurance companies use to set your rates, with better credit generally earning you a discount.

The types of coverage you select, such as liability, collision, comprehensive, and more, along with the coverage limits you choose, affect how much you pay. In general, the more coverage you have, the higher your rates will be. The make and model of the vehicle you drive is taken into account as well. Sportier cars and luxury brands tend to be more expensive to insure due to higher repair costs and greater likelihood of theft.

Low Cost Car Insurance Programs and Discounts in Kentucky

If you’re looking for ways to reduce your car insurance premiums in Kentucky, there are a few options for saving money. Some insurance companies offer low cost insurance programs specifically designed for lower-income drivers, and there are also discounts you may qualify for based on your driving record, vehicle, and personal circumstances.

Low-income auto insurance programs are available from several providers in Kentucky. These programs set lower base rates for qualifying drivers and often have more flexible payment options. To qualify, you’ll typically need to meet income guidelines and have a good driving record. Some programs also require you maintain continuous coverage. These programs can save you hundreds of dollars per year on your car insurance.

In addition to these low cost programs, most insurers offer a variety of discounts for drivers in Kentucky. Common discounts include:

• Good student discount. If you have a GPA of 3.0 or higher, you may qualify for up to 25% off your premiums.
• Multi-vehicle discount. If you insure more than one vehicle with the same provider, you’ll likely get a discount of 5% to 15%.
• Defensive driving course completion. Taking a state-approved driving course can earn you up to 10% off.
• Anti-theft devices. Having an alarm, immobilizer, or GPS tracker can earn a 5% to 10% discount.
• Low annual mileage. Driving fewer than 8,000 to 10,000 miles per year is often eligible for up to 10% off.
• Good driving record. Maintaining a clean driving history for 3 to 5 years may qualify you for a discount of up to 20%.
• Payment method. Paying annually instead of monthly can save you a few percent.

Kentucky Car Insurance Statistics

Kentucky has some interesting statistics when it comes to car insurance. Let’s dive into some of the key facts:

• Kentucky has the 12th highest car insurance rates in the nation. The average annual premium in Kentucky is $1,199 per year, which is $122 more than the national average of $1,077.
• Young drivers in Kentucky face some of the highest insurance rates. For drivers under 25 years old, annual premiums can easily exceed $3,000 due to the higher risk of accidents among younger drivers.
• Kentucky has a high rate of uninsured motorists at around 13.2%. This means that over 1 in 8 drivers in Kentucky do not carry car insurance, which is the 9th highest rate in the country.
• Kentucky is one of only a handful of states that does not require drivers to purchase bodily injury liability insurance. Only property damage liability coverage is mandatory. This likely contributes to the high uninsured motorist rate.
• Kentucky has a higher than average rate of traffic fatalities, ranking 23rd highest in the nation. In 2019, there were 841 traffic fatalities in Kentucky, a rate of 17.4 deaths per 100,000 people.
• Theft claims are relatively high in Kentucky, leading to higher comprehensive coverage rates. Louisville and Lexington in particular have above average vehicle theft rates.

The 10 Largest Kentucky Car Insurance Companies

1. State Farm – State Farm is the largest car insurance provider in Kentucky, with over 15% of the market share. It offers a wide range of coverage options and discounts.
2. Nationwide – Nationwide has over 11% of the Kentucky market. It is known for being flexible, offering customized policies and bundle discounts.
3. GEICO – GEICO is the third largest provider with over 7% market share. It offers affordable rates and many online services for policy management.
4. Progressive – Progressive insures over 6% of Kentucky drivers. It is known for being straightforward and having an easy online quoting and claims process.
5. Liberty Mutual – Liberty Mutual insures over 5% of Kentucky drivers. It offers a variety of discounts and has 24/7 customer service.
6. Allstate – Allstate provides car insurance to over 4% of Kentuckians. It is known for being easy to work with and its Good Hands promise.
7. Kentucky Farm Bureau – Kentucky Farm Bureau is a large insurer in the state, providing coverage to over 3% of drivers. It offers many policy discounts for members.
8. Farmers – Farmers Insurance insures over 3% of Kentucky drivers. It is known for personalized policies and customer service.
9. Travelers – Travelers provides auto insurance to around 2% of Kentucky drivers. It is known for being flexible and offering many discounts.
10. MetLife Auto & Home – MetLife insures over 1% of Kentucky drivers. It offers simple policies and many discounts for good drivers.​