Who Has Cheap Auto Insurance for Drivers Over Age 70 in Kentucky?

You have seen the ads from auto insurance companies like GEICO and Nationwide that make promises of the cheapest price, so drivers should just pick the company with the catchiest ad, right?

It’s just not that easy, however, as there are a whole slew of unknown factors such as the liability limit you need, the number of years of driving experience you have, and the likelihood of vehicle theft where you live, that all go into determining the rate you pay. The information below covers the things that cause high insurance rates and hopefully give you enough understanding to have a good beginning to your search for cheaper coverage.

Determining which insurers offer the cheapest insurance rates for drivers over age 70 will involve a bit more work in order to find the lowest price. Every car insurance company uses a little different formula to set premium rates, so let’s rank the overall cheapest insurance companies in Kentucky.

It’s important to understand that Kentucky insurance rates are impacted by many things which can substantially decrease or increase the price you pay for coverage. Simply having another birthday, having a claim, or getting a ticket for careless driving may generate price changes that can make some companies more affordable than competitors.

Best Cheap Insurance Rates for Age 70+

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Cincinnati Insurance offers some of the lowest car insurance rates in Kentucky at around $1,115 per year. Kentucky Farm Bureau, USAA, Auto-Owners, and Motorists Mutual are also some of the cheapest Kentucky auto insurance companies.

As the rates illustrate above, if you buy coverage from Auto-Owners and switched to Kentucky Farm Bureau, you could earn a yearly price reduction of about $260. Kentucky drivers with Motorists Mutual might save as much as $462 a year, and Grange Mutual insureds might lower prices by $470 a year.

Bear in mind that those estimates are averaged for all drivers and vehicles in Kentucky and and are not figured with a rate surcharge for drivers over age 70. So the car insurance company that is best suited for you may not even be shown in the company chart above. That’s why you need to compare rates from as many companies as possible using your own personalized driver profile and vehicle information.

When shopping for auto insurance for older drivers, one of the many criteria that help determine car insurance rates is your address. Areas with increased crime or more people like Louisville, Jeffersontown, and Saint Matthews will most likely pay more, whereas more rural areas tend to receive slightly lower rates.

The table below rates the higher priced cities in Kentucky for drivers over age 70 in which to purchase auto insurance.

Prices are estimated as the specific Kentucky residence address can alter coverage prices considerably.

The make and model of vehicle requiring coverage is one of the main factors when trying to find affordable car insurance for drivers over age 70. Vehicles with lots of speed or power, a lack of safety features, or a high likelihood of having liability claims will cost quite a bit more to insure than safer models.

The data below showcases auto insurance prices for a selection of the most budget-friendly vehicles to buy coverage for.

Data based on married male driver age 70, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Kentucky minimum liability limits. Discounts applied include multi-policy, safe-driver, homeowner, claim-free, and multi-vehicle. Price estimates do not factor in specific zip code location which can revise insurance rates substantially.

Looking at the numbers, we can assume that models like the Ford Escape, Honda Accord, Honda CR-V, Hyundai Elantra, and Toyota Prius are the cheapest vehicles to insure for older drivers. Auto insurance rates will be more expensive just due to the fact that there is more inherent risk for drivers over age 70, but overall those makes and models will most likely have the cheapest car insurance rates compared to all other vehicles.

Choosing the best auto insurance provider can be challenging considering how many companies sell coverage in Kentucky. The company rank data below could help you choose which insurers you want to consider when shopping your coverage around. The ratings below are for companies with a national presence, so smaller companies are not factored into this list.

Get discount Kentucky auto insurance

Insurers that offer cheap car insurance for drivers over age 70 in Kentucky may provide discounts that may potentially lower prices by as much as 35% or more if you are eligible. A few of the larger companies and a selection of discounts are outlined below.

• Progressive has savings for good student, online signing, homeowner, online quote discount, multi-vehicle, multi-policy, and continuous coverage.
• SAFECO offers discounts for bundle discounts, accident prevention training, drive less, teen safe driver, and safe driver.
• American Family includes discounts for bundled insurance, air bags, mySafetyValet, good student, accident-free, and multi-vehicle.
• MetLife may include discounts for claim-free, defensive driver, good student, accident-free, and good driver.
• GEICO offers discounts including multi-policy, daytime running lights, good student, membership and employees, anti-theft, emergency military deployment, and defensive driver.
• The Hartford offers premium reductions for good student, defensive driver, vehicle fuel type, air bag, driver training, and anti-theft.

The illustration below shows the difference between insurance costs with and without discounts being applied to the rates. The prices are based on a female driver, no claims or driving violations, Kentucky state minimum liability limits, full physical damage coverage, and $100 deductibles.

The first bar for each age group shows the average rate with no discounts. The lower bar shows the rates with multiple vehicle, marriage, safe-driver, accident-free, anti-theft, and homeowner discounts applied. In this example, the average savings per year on insurance for drivers over age 70 is 28% or $490.

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How to get cheap car insurance for drivers over age 70 in Kentucky

It is possible to find better rates, and here are many thrifty ideas that can help Kentucky drivers find cheap car insurance.

• Drive vehicles with five-star safety ratings
• Improve your credit score
• Avoid filing excessive claims
• Increase your comprehensive and collision deductibles
• Insure your home and auto with the same company
• Do not pay for comprehensive and collision coverage on older vehicles
• Compare rate quotes often

The final tip is especially vital, as we noted in this write-up. Insurance rates can change considerably in a year, so don’t be hesitant to buy a different policy if a more affordable rate is found. Many drivers have brand loyalty and that’s fine, but is isn’t recommended if it’s costing you major coinage every year. In less than five minutes you could compare rates and find cheaper auto insurance for drivers over age 70.

Cheapest insurance quotes for older drivers

Drivers have a lot of different ways to get cheap insurance quotes in Kentucky, but the most frequently used are through a captive (or exclusive) agency like Allstate or State Farm, an independent or non-exclusive agent, or direct online or over the phone from a company like Progressive or Geico. Each way has the same basic process, but they differ in how they give price quotes.

Independent agents work with multiple companies and can get rate quotes from all of them. They possess the freedom to provide you with more rate quotes, which may provide you with the best chance of saving money. If a cheaper price is found, they simply switch companies in-house which requires no work on your part.

A captive, or exclusive, agent is ‘exlusive’ to one company, two popular examples being Liberty Mutual and Allstate agents. They generally cannot provide other companys’ prices, so they really need to provide good service.

If you choose to buy insurance direct, you forego an exlusive or independent agent and instead buy buying direct from a company like Geico or Progressive. Buying insurance direct is a good choice for drivers who have an average risk profile and have a good understanding of what is covered and what is not.

Which method works best to buy cheap car insurance for drivers over age 70 in Kentucky? The obvious answer would be buying direct results in the cheapest rates because there is no agent involved, but that does not always hold true. An argument could also be made that going through an independent agent is the best way since they have more companies to choose from, but that assumption is also not accurate. In some circumstances, exclusive agencies may have prices that cannot be beaten by either independent or direct companies.

Because there are so many factors that make up insurance rates, the one way to buy the cheapest coverage is to get quotes and compare. It’s a good idea to get price quotes from independent, exclusive, and direct to get a good idea who is cheapest. For a list of companies offering online discounts in Kentucky, click here to view.