According to data pulled from Quadrant Information Services, car insurance in Lexington costs an average of $656 for minimum coverage and $1,662 for full coverage annually, which is close to the national average. If you are a motorist in Lexington, Geico and State Farm have some of the best coverage options and most affordable rates, according to our research.
There were 15,191 car accidents reported in Lexington in 2018, so if you live there or are planning to move to the area, you will probably want to consider getting sufficient car insurance coverage to protect yourself financially. It is important to evaluate the cost of insurance, but also consider other factors, such as financial stability, discounts and coverage options, customer reviews, and industry reputation.
Best car insurance companies Lexington
Bankrate has selected Geico, Kentucky Farm Bureau and USAA as the top car insurance companies in Lexington. These companies offer low rates and have great financial strength, excellent third-party ratings, generous savings options, and flexible coverage options. These companies were solid options for us, but there might be others in your area. It’s a good idea, however, to compare other providers.
Geico
According to our research, Geico is the lowest-priced car insurance company in Lexington. An average driver will pay $1,188 per year for a full-coverage policy. This is $474 more than the average rate in the city. Geico offers a variety of discounts, with savings for good students, safe drivers, military personnel, going on emergency deployment, federal employees and more. Geico’s coverage options are somewhat limited so it tends to be better for drivers who only need a basic policy.
Kentucky Farm Bureau
Kentucky Farm Bureau is well-known for its friendly and helpful agents as well as customer service. All the standard coverages are available, as well as rental car reimbursement, towing, and labor coverage. In addition to low premiums, the company has special savings for good students, taking a driver training course, being a safe driver, insuring multiple vehicles and having certain safety features in your vehicle.
USAA
USAA is a well-respected insurance company for military personnel. To be eligible for coverage, you must be either an active duty or retired military member. Drivers who are eligible for USAA can get low rates, highly-rated customer service and great discounts, including savings for good students, good drivers, garaging your vehicle on a military base, being a loyal customer and driving under a certain mileage each year. USAA allows drivers to save an average of $700 each year.
Grange
Grange is a solid choice for Lexington, Kentucky. The company offers an impressive lineup of endorsements, like pet coverage, mobile device coverage, full glass repair, gap insurance, OEM coverage, roadside assistance and more. In addition, drivers can save money by taking advantage of discounts for paying in full, being a good student, being a student away at school and enrolling in the OnTrack telematics safe driver program.
Lexington has the lowest car insurance
The average cost of car insurance in Lexington is significantly cheaper than the average rate in Kentucky, $2,128 per year for a full coverage auto insurance policy and $748 per year for a minimum coverage policy. The average cost of car insurance in the United States for full coverage is $1,674 annually, and $565 for minimum coverage.
The prices of car insurance in Lexington can vary depending on the company. Below is a table that shows the lowest car insurance rates in Lexington for the most well-known carriers, based on market share.
Each cheap Lexington car insurance company has its pros and con’s. Geico and State Farm, for example, offer limited coverage options. USAA is highly rated but has strict eligibility requirements that limit access for many people. Although Progressive policies are expensive, drivers have access to many great online tools and discounts.
J.D. ranked these five providers differently in terms of customer satisfaction. J.D. Power’s 2021 auto insurance survey. USAA and State Farm are the only two providers to rank above the 847 regional average, though USAA is technically not eligible for ranking because of its eligibility restrictions. Allstate, Progressive and Nationwide all rank slightly lower than the regional average. AM Best has rated all five providers with excellent financial strength ratings.
Lexington insurance requirements
Drivers who have a Kentucky-registered vehicle must obtain car insurance in Lexington. The minimum car insurance requirement is represented as 25/50/25, which includes the following personal liability insurance coverages:
- $25,000 bodily injury coverage per individual
- $50,000 per accident bodily injury coverage
- $25,000 in property damage coverage per accident
Minimal coverage policies are usually the most affordable option. A minimum coverage policy does not cover all costs associated with an accident. Liability-only insurance doesn’t provide protection for your vehicle.
Insurance experts advise that drivers buy more coverage than is legally required. Comprehensive and collision coverage can help to reduce your legal and financial risk in the event of an accident. Your lender may require that you have full coverage insurance if you lease your vehicle or finance it.
Lexington: Get car insurance at a discount
Drivers who are looking for cheap car insurance in Kentucky may be able to take advantage of discounts to get a lower rate. These are some Lexington car insurance discounts:
- Multi-vehicle Discount: Drivers who have multiple vehicles covered by their auto insurance policy may be eligible for a discount.
- Discount on vehicle safety equipment: Ask your insurance provider for special discounts if your car features safety features like anti-theft or anti-lock brakes.
- Full discount if you pay your annual premium in one lump sum. Drivers who pay their annual Premium in one lump sum instead of in monthly installments can often save money.
- Discounts for students: There are many insurance companies that offer discounts to students who have a minimum GPA.
Questions frequently asked
Which is the best auto insurance company?
Car insurance is personalized, so the best car insurance company is different for every driver. State Farm may be the best choice for some drivers. USAA might be better for others. When shopping for car insurance, make sure you look for providers who offer the coverage you require, as well as discounts and digital tools.
What is the cost of car insurance in Lexington?
The average Lexington driver pays $1662 annually for full coverage insurance, and $656 for minimum coverage insurance. You might pay more or lower than the average city rate depending on your personal factors such as your credit score, age, driving record, mileage, and other factors.
What amount of Lexington car insurance do you need?
Kentucky law requires that Lexington drivers carry 25/50/25 personal insurance. Sometimes, however, it may be worth upgrading to full coverage. For added protection in an at-fault collision, insurance companies recommend that drivers increase the limits of their policy.