Who Has Cheap Car Insurance for Seniors in Kentucky?

The words “low-priced” and “insurance” really don’t belong together, specifically when you are trying to find the cheapest auto insurance for seniors. Because of the high cost, let’s familiarize you with a few of the factors that have a considerable impact on auto insurance rates, and see if you can take the sting out of the next policy you buy.

Finding good, low-cost insurance is not most people’s favorite thing to do, and finding out which company offers the cheapest insurance rates for seniors will involve even more rate comparisons. Insurance prices could be a little bit cheaper than the average policy in Kentucky, with the decrease attributed to the potentially lower risk associated with offering insurance for senior citizens. Affordable coverage should be achievable from many providers.
Every insurance company has their own formula to set policy rates, so to begin we’ll rank the insurance companies with the overall cheapest rates in Kentucky.

It’s important to know that Kentucky insurance rates are based on many factors that will increase or decrease your annual premium. Things like having a birthday, getting married, or having an at-fault accident can cause premium changes that can cause some rates to be less affordable than competitors.

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Cincinnati Insurance has some of the best car insurance rates in Kentucky at around $1,126 per year. Kentucky Farm Bureau, USAA, Auto-Owners, and Grange Mutual also rank well as some of the best Kentucky insurance companies.

As illustrated above, if you currently have coverage with Kentucky Farm Bureau and switched to Cincinnati Insurance, you could realize savings of approxmiately $37. Customers with USAA could save as much as $97 a year, and Auto-Owners insureds might see rate reductions of $287 a year.

Bear in mind that those policy prices are averages for all insureds and vehicles and are not factoring in a price discount for seniors. So the company that has the lowest price for you may not even be included in the above rate chart. That affirms the importance of why you need to compare as many prices as possible using your own specific driver information and vehicle.

The vehicle model that needs insurance is a large consideration when trying to find cheap car insurance for seniors in Kentucky. Vehicles with higher performance characteristics, poor passenger safety features, or an increased likelihood of liability claims will cost much more to insure than more economical and safe models.

The list below estimates insurance rates for the most economical vehicles to buy coverage for.

Table data assumes married female driver age 60, no speeding tickets, no at-fault accidents, $500 deductibles, and Kentucky minimum liability limits. Discounts applied include safe-driver, multi-vehicle, claim-free, multi-policy, and homeowner. Price information does not factor in specific garaging location which can increase or decrease coverage prices significantly.

Based upon the table data, makes and models like the Honda Accord, Hyundai Elantra, Honda CR-V, and Chevrolet Traverse are most likely to be a few of the cheaper vehicles to insure for senior citizens.

Cheapest car insurance: State Farm, Progressive, Allstate, or Geico

When comparing car insurance for senior citizens in Kentucky, four good companies to start with are State Farm, Progressive, Allstate, and Geico. The data below compares ratings for price, service, and claims, in additional to some of the optional coverages offered by each one.

Who has the cheapest insurance quotes for senior citizens?

There are many different ways to buy insurance in Kentucky, but the three most common ways are from an exlusive agent such as State Farm or Liberty Mutual, a non-exclusive or independent agent, or direct online or over the phone from a company like Geico or Progressive. They all have the same basic principle, but insurance buyers need to understand the differences in how they provide rate quotes.

Independent agents write business for many companies and can compare coverage rates with every one. Independent agents have the ability to compare multiple rates, which may provide you with a better comparison. If they find a cheaper price, they can switch companies in-house and you do not have to find a new agent.

An agent who is captive is able to place business with just one company, examples being Allstate or Farmers Insurance agents. Exclusive agencies are unable to give you multiple price quotes, which requires you to shop around.

Direct insurance buyers forego local insurance agents and instead shop from a direct company like Esurance. This insurance option may be good for consumers who do not have a complex risk profile and have some degree of understanding of the limitations of insurance.

Out of those three methods, which one works best to find cheap car insurance for seniors in Kentucky? The majority of insurance shoppers assume that buying direct results in the best prices since no commissions are paid to an agent, but that is generally not the case. We could also say that buying insurance from an independent agent guarantees the lowest rates because they can shop around, but that idea is not necessarily true either. And occasionally, the exclusive agents have very competitive rates that are the cheapest in Kentucky.

Because it’s impossible to say who has the best insurance rates, the best way to ensure you are not overpaying for insurance is to get quotes and compare. To find the best rates, be sure to get quotes from all three in order to be able to find the lowest price. To see some of the cheapest online companies available, click here to view.