Car insurance provides numerous benefits. You can get financial help if you are at fault in an accident. It also pays for repairs to your car after an accident.
In 2019, Kentucky had almost 4.4 millions registered vehicles. The Kentucky Office of Highway Safety reported 173 highway deaths in Louisville in 2020. The fatality rate could rise even more in 2021 with 23 deaths for the year ending in March. These statistics show how important car insurance can be for financial protection.
The average annual premium for Louisville drivers is $950 for minimum coverage and $2274 for complete coverage. This is higher than the state and national averages. People in Louisville might want to find the lowest priced car insurance.
The best car insurance companies Louisville
We looked for the top four car insurance companies in Louisville. These included those that offer the best price, discounts, customer service, and financial stability. J.D. recognized all our top picks. The 2020 U.S. Auto Insurance Satisfaction Study by J.D. Power ranks and rates providers based upon how they perform in areas like billing process, claims processing, customer interaction, and price. All of our top-rated Louisville auto insurance companies have received an A (Excellent or better) AM Best financial strength rating. To determine the average rate, we also used 2021 rates data from Quadrant Information Service.
| Insurance company | J.D. J.D. | Minimum coverage: Average annual premium | Average annual premium for full coverage |
|---|---|---|---|
| Geico | 857 / 1,000 | $659 | $1,639 |
| Kentucky Farm Bureau | 851 / 1,000 | $584 | $1,814 |
| Progressive | 848 / 1,000 | $1,447 | $2,964 |
| USAA | 909 / 1,000 | $510 | $1,599 |
Geico
The 2020 J.D. Index ranked Geico fourth. According to the Power Study, Geico’s average annual rate is lower than many other providers. Geico offers all the standard coverages that you require, as well as optional roadside assist coverage. This service includes battery jump starts, emergency fuel delivery and lockout services upto $100. It also covers tire changes, towing, and tire changing. The best part is that you can request roadside assistance via the Geico mobile app for Android and Apple.
We are especially impressed with Geico’s discounts. New vehicles and cars equipped with anti-theft and air bags may be eligible for a 15% discount and a 23% discount on their car insurance. Geico offers discounts for military personnel and up to 25% off when they are deployed.
Kentucky Farm Bureau
Kentucky Farm Bureau was established in 1943 and serves customers in all 120 Kentucky county. It also operates 18 agencies in Jefferson County. This provider offers all standard auto insurance, as well as optional medical payments, rental car reimbursement, towing, and labor coverages. Kentucky Farm Bureau offers the ability to make claims by phone, calling its toll-free hotline 24/7.
Kentucky Farm Bureau is a regional insurance company that offers a broad range of insurance products. The company offers policies for motorhomes, ATV/UTVs and classic and collector cars. The company also provides insurance for commercial vehicles, homeowners associations insurance and workers compensation insurance.
Progressive
J.D. ranked Progressive among the top ten companies in the southeast region. Power’s 2020 automobile study was a success and the company has been awarded an AM Best financial strength rating. Progressive’s extraordinary range of optional coverages is a great choice for people who enjoy a variety of options. This includes gap insurance which pays the difference between the insurance settlement payment you receive and the amount you owe a lender in the event you purchase a new vehicle.
Progressive offers ridership and rental car reimbursement coverages to all eligible policyholders. Custom parts and equipment value coverage pays up to $5,000 to replace or repair customizations like stereos, paint jobs and wheels after a covered loss. Progressive offers customers the option of a deductible bank. If you are not subject to claims during a policy term, the deductible bank will deduct $50 from your next policy period’s collision and comprehensive.
USAA
USAA was the top-rated customer service provider in the southeast region according to J.D. Power’s study scored USAA 909 out 1000. USAA does not offer car insurance to members of the army, veterans, pre-commissioned officers, their children, and spouses. This disqualifies USAA from being ranked in the survey. USAA is a great choice for residents of the Louisville area, which has eight military facilities.
USAA is committed in meeting the needs of military families. USAA members can get a 10% discount for their children if they continue to have USAA car insurance coverage even after they leave home. Members who store their cars on base receive a 15% discount on comprehensive insurance. They also get up to 60% savings on storage, which is a valuable benefit for deployment.
Louisville has the lowest car insurance
Kentuckians pay an annual average auto insurance premium that is $748 for minimum coverage, $2,128 to full coverage, while Louisville drivers pay an average $950 for minimum coverage, and $2,274 full coverage. Nationally, drivers pay an average annual premium of $565 to get minimum coverage, and $1,674 to get full coverage. There are many providers offering great rates for Louisville drivers. Some of these rates are lower than the national and state averages.
| Insurance company | Minimum coverage: Average annual premium | For full coverage, the average annual premium |
|---|---|---|
| USAA | $510 | $1,599 |
| State Farm | $532 | $1,542 |
| Geico | $659 | $1,639 |
| All over the country | $827 | $1,662 |
| Allstate | $1,134 | $3,460 |
These companies, which aren’t among our top picks, compete well against the ones that are. State Farm, like Progressive, offers optional rental car reimbursements and rideshare coverages for significantly lower annual rates. Allstate and USAA offer great student and new car discounts. However, USAA sells only auto insurance to a few military clients. Geico sells home and auto insurance. Nationwide offers banking products including checking and savings accounts and mortgages. Personal loans are also offered by Nationwide. To find the right car insurance for you, think about your top priorities.
Louisville insurance requirements
Kentucky law requires that all drivers purchase minimum levels of auto coverage, which includes:
- $25,000 bodily injury liability coverage per individual
- $50,000 bodily injury liability coverage per accident
- $25,000 per accident in property damage liability coverage
Auto owners have the option of purchasing a policy with a $60,000 limit that covers all coverages.
Some people want more coverage than the minimum. If you are responsible for an accident in which another driver is seriously injured, $25,000 won’t provide sufficient coverage to cover extended hospitalization. Kentucky’s mandatory minimum coverage for property damage may not cover a luxury vehicle if it is damaged. Kentucky law doesn’t require uninsured motorists or medical payments coverage. This can help you pay for your medical expenses after an accident.
Leasing or purchasing an automobile will require you to have full coverage. This will include comprehensive and collision coverage.
Louisville offers car insurance discounts
Kentucky auto insurance companies offer a variety of discounts including:
- Defensive driver course discounts
- Good student discounts
- Multi-vehicle discounts
- Multi-policy Discounts
- Discounts on vehicle safety and security devices
Certain discounts will have a greater effect on your premium than others. You could save as much as 10% to 15% on your car insurance by being a good student. Driving safely may also earn you a 25% discount for good drivers. The provider you choose will determine how much savings you are able to make.
Questions frequently asked
Which is the best auto insurance company?
It is difficult to buy auto insurance. Our top four Louisville car insurers meet our criteria for price, customer service, discounts and financial strength. However, they might not be able to meet your specific needs. Look for the top car insurance company that offers the additional insurance products that you require, such as renters or home insurance. They will also extend discounts for those who qualify and offer a price that is affordable.
What is the cost of car insurance in Louisville?
Auto insurance in Louisville is very expensive. Louisville residents pay an average annual premium of $950 to insure their vehicle. Full coverage requires $2,274 and minimum coverage is $950. These rates are higher than the state and national averages.
What amount of car insurance do you need in Louisville?
All Kentucky drivers must have minimum coverages for bodily injury liability, and personal property liability. However, the minimum coverages required by law do not offer financial protection. Talk to an agent about the coverage you require.
