How Much are Auto Insurance Quotes for College Graduates in Kentucky?

Our content editors always give us grief that when writing about car insurance, the word affordable should not be used anywhere in the article to describe car insurance rates. It’s a simple fact that cheap car insurance for college graduates can be hard to find. Don’t let that discourage you, because there may be ways you can find and buy auto insurance that you can afford.

When buying insurance for college grads, one of the key considerations that is looked at to help calculate the price you pay for insurance is where you live in Kentucky. Regions with larger populations or more claims like Louisville, Ashland, and Jeffersontown tend to pay higher rates, whereas areas that tend to be more rural have the benefit of cheaper auto insurance prices.

The information below sorts the priciest cities in Kentucky for college graduates to buy an auto insurance policy in.

Information shown are comparative as zip code location can raise or lower insurance rates considerably.

Determining which company has the lowest-priced insurance rates for college graduates takes more work than just quoting one company’s rates. Every auto insurer has their own formula to set policy rates, so we will examine the insurance companies with the overall cheapest rates in Kentucky.

We do need to point out that Kentucky insurance rates are impacted by many factors which can substantially change the cost of a policy. Simply having a birthday, adding a teenager to your policy, or getting a DUI may cause policy rate changes resulting in some companies being more affordable than competitors.

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Cincinnati Insurance may offer some of the most affordable car insurance rates in Kentucky at around $1,126 annually. Kentucky Farm Bureau, USAA, Auto-Owners, and Grange Mutual also make the cut as some of the cheapest Kentucky car insurance companies.

As the rates illustrate above, if you buy coverage from USAA and switched to Cincinnati Insurance, you could see an annual savings of roughly $97. Drivers with Auto-Owners may save as much as $231 a year, and Grange Mutual policyholders might lower prices by $435 a year.

It’s important to note that these premiums are averages across all drivers and vehicles and do not take into consideration a rate discount for college graduates. So the car insurance company that can offer you the lowest price may not even be shown in the list of companies above. That illustrates why you need to compare as many prices as possible using your own personalized driver profile and vehicle information.

The example below illustrates how choosing a deductible can affect insurance rates when trying to find cheap insurance for college graduates. The information is based on a married male driver, full physical damage coverage, and no additional discounts are factored in.

In the chart above, a 30-year-old driver could lower their policy premium by $340 a year by switching from a $100 deductible to a $500 deductible, or save $512 by switching to a $1,000 deductible. Even younger insureds, like the Age 20 category, could shave up to $1,034 every year by using a higher deductible.

If you do raise deductibles, it is essential to have plenty of discretionary funds to be able to cover the extra out-of-pocket expense that is associated with using high deductibles.

Safe drivers pay less for insurance

The obvious way to obtain good insurance prices for college grads is to drive safe and avoid accidents and keep your driving record clean. The information below shows how traffic citations and at-fault accidents can influence yearly insurance costs for different categories of driver ages. The rates are based on a married male driver, full coverage, $500 deductibles, and no discounts are applied.

In the prior example, the average cost of car insurance in Kentucky per year with no accidents or violations is $1,777. Get written up for two speeding tickets and the average cost hikes up to $2,450, an increase of $673 each year. Then include two accidents along with the two speeding tickets and the annual cost of insurance for college graduates increases to an average of $5,057. That’s an increase of $3,280, or $273 per month, just for not being attentive to the road!

Find cheap insurance for college graduates in Kentucky

It is possible to find better rates, and here are many thrifty ideas that can help you find low-cost car insurance.

• Raise comprehensive and collision coverage deductibles
• Tickets and violations raise rates
• Having at-fault accidents will increase rates
• Buying car and homeowners insurance together can save money
• Good credit scores may lower your rates
• Try paying for small claims out-of-pocket
• Compare rates and switch if you can find a better deal

That final tip is particularly vital, as we stressed in this article. Rates in Kentucky change constantly, so you should be ready to switch companies if you can find a cheaper rate. Being loyal to a particular company is commendable, but is isn’t recommended if that loyalty ends up costing potentially thousands of dollars a year. Spend a few minutes and shop around to find cheaper car insurance for college graduates.