Cheap Car Insurance Quotes for Government Employees in Kentucky

Determining which companies have the cheapest auto insurance rates for government employees will take a bit more effort than just comparing rates from one or two companies. Each auto insurer uses different criteria for determining rates, so let’s take a look at the most competitive auto insurance companies in Kentucky.

It’s important to know that Kentucky auto insurance rates are determined by lots of factors which can substantially decrease or increase the price you have to pay. Turning one year older, buying a home instead of renting, or getting a couple of tickets can produce rate changes that can now make some companies cheaper than others.

Best Insurance Companies in Kentucky

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Cincinnati Insurance generally has some of the best car insurance rates in Kentucky at around $1,115 per year. Kentucky Farm Bureau, USAA, Auto-Owners, and Motorists Mutual also qualify as some of the cheapest Kentucky insurance companies.

In the above example, if you are a customer of Kentucky Farm Bureau and switched to Cincinnati Insurance, you may realize savings of roughly $13. Policyholders with USAA could save as much as $108 a year, and Auto-Owners customers might lower prices by $256 a year.

Bear in mind that those premiums are averaged for all ages of drivers and types of vehicles and do not factor in a price discount for government employees. So the car insurance company that is best suited for you may not even be included in the list of companies above. That is why you need to quote rates from many companies using your own driver information and specific vehicle type.

The vehicle model requiring insurance is one of the biggest factors that determines whether or not you can buy the most economical insurance for government employees. Vehicles with lower acceleration and performance, a great safety record, or a track record of few liability claims will cost quite a bit less to insure than high performance models.

The list below shows insurance rates for the most budget-friendly vehicles to buy coverage for.

Data assumes married male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Kentucky minimum liability limits. Discounts applied include claim-free, multi-vehicle, safe-driver, homeowner, and multi-policy. Rate quotes do not factor in specific location which can influence premium rates substantially.

By looking at the data, you can expect makes and models like the Chevrolet Traverse, Honda CR-V, and Toyota Prius should be the cheaper vehicles to insure for state and federal workers.

Rate comparison of full coverage and liability-only

Finding cheap auto insurance for government employees in Kentucky should be important to the majority of vehicle owners, and one common way to save on the cost of insurance is to not buy comprehensive and collision coverage. The diagram below shows the comparison of car insurance rates with and without physical damage coverage. The rate quotes are based on no tickets, no at-fault accidents, $1,000 deductibles, single marital status, and no discounts are taken into consideration.

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If we average all the age groups together, physical damage coverage on your policy costs an extra $1,486 per year more than just insuring for liability. That is a big expense that brings up the question when is it a good idea to stop buying full coverage. There is no exact formula of when to phase out comp and collision coverage, but there is a guideline you can consider. If the yearly cost of full coverage is more than about 10% of the settlement you would receive from your company, then it may be the right time to buy liability only.

For example, let’s assume your vehicle’s settlement value is $10,500 and you have $1,000 policy deductibles. If your vehicle is totaled, the most you would receive is $9,500 after paying the physical damage deductible. If you are currently paying more than $950 a year for physical damage coverage, then you might consider buying liability only.

The example below shows how choosing a deductible can raise or lower insurance costs when trying to find cheap insurance for government employees. The rates are based on a married male driver, comp and collision included, and no policy discounts are applied.

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As shown above, a 30-year-old driver could lower their policy premium by $300 a year by switching from a $100 deductible up to a $500 deductible, or save $456 by using a $1,000 deductible. Even younger drivers, like the age 20 example, can cut up to $910 every year just by using higher deductibles. If you do decide to increase your deductibles, it’s a good idea to have spare funds to allow you to pay the extra out-of-pocket expense, which is the main disadvantage of using high deductibles.

Which car insurance company is best?

If you want reliable car insurance for state and federal workers in Kentucky, the most popular companies are Progressive, Geico, State Farm, and Allstate. If you combine them together, they insure 48.5% of all car insurance policies written. They all offer different features and discounts that may affect your buying decision. The data below points out some of the different features that are available for buyers.

Cheap insurance quotes for state and federal workers

Thanks to the internet, there are a lot of ways to buy auto insurance in Kentucky, but the most preferred ways are using an independent agent, an exlusive agent such as Liberty Mutual or State Farm, or from a direct company like Geico or Progressive. Each way is similar, but shoppers should understand the differences in how they function.

Independent agents write business for many companies and can compare rates with all of them. These agents do not sell for just one brand and can give you more rates, which may give you a better chance of finding cheaper coverage. If your premiums go up, an independent agent can move your coverage and you don’t have to find a new agent.

An exclusive agent is only able to quote rates with just one company, two popular examples being a Farmers or Allstate agent. They generally cannot compare rates from other companies, so keep that in mind.

The third way to buy auto insurance is direct which means you skip local insurance agents and buy direct either online or via phone. Buying direct may be the best choice drivers who do not need advice for risk management and understand the limitations of auto insurance.

So what is the best way to find cheap auto insurance for government employees in Kentucky? We’d like to say shopping direct results in the cheapest rates because you bypass the middleman, but unfortunately, it’s not that cut and dried. We’d also like to say an independent agency guarantees the best prices since they can provide multiple quotes, but that assumption is not true either. In the right set of circumstances, exclusive agencies have extremely competitive rates well below independent agents AND direct companies.

Due to the large number of rating factors, the best method to get the cheapest rates is to compare lots of quotes. To cover all the bases, get rate quotes from all three to give yourself plenty of rates to compare. For a list of auto insurance companies with low rates, click here to view.