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How much is car insurance in Florence?
|Area||Average Monthly Car Insurance Premium|
Looking at the chart above, you can see it's around $30 a month cheaper to insure your vehicle in Florence than it is in the rest of Kentucky.
On the other hand, Florence residents will likely pay higher rates for their insurance policy than the rest of the country. It's about $22 more expensive for coverage in Florence than the average rates for the U.S. as a whole.
These rates may be the average amount drivers in Florence pay for their insurance policy, but that doesn't mean it's exactly what you'll pay. There are a number of factors that determine how much insurance companies might charge you for your insurance policy. Things like age, gender, vehicle make and model, driving record and, in some areas, credit score can all play a part in the bill you'll see each month.
But don't worry, we've broken down the average rate for Florence residents based on several different factors so that you can get a more accurate idea of your policy's monthly premium. If you're not certain that you're getting the cheapest rate for your area, just enter your ZIP Code below to find out!
Average Car Insurance Rates by Age
|Age Range||Average Premium|
|Under 18||Not Enough Data|
|45-54||Not Enough Data|
It makes sense that older drivers would have more experience behind the wheel, right? When it comes to car insurance premiums, that experience can really pay off. In this case, 18-24-year-olds pay $70 more than drivers 65 and older.
For every ten years older you get, you can expect to see a drop in your monthly premium. You may see your rates begin to go back up once you hit retirement age in Florence.
Average Car Insurance Rates by Gender
Although women typically pay less than men do to insure their car, this is not the case in Florence, where female drivers pay around $108 per month while male drivers pay about $96.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
Depending on your driving record, your rates can vary quite a lot. Those with clean records will see the most affordable rates, whereas even a single accident or infraction can cost you. In Florence, a driving record with one accident will usually get you a rate around $121 a month. Likewise, drivers with one ticket will be looking at a rate of around $115 a month on average.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$86|
|15 Years or Older||$103|
The most affordable vehicles to insure in Florence are typically SUVs, trucks, and vans, which run about $92 per month.
The premium for car owners, however, is about $107 per month.
You may also see different rates based on the age of your vehicle. Generally, newer vehicles are going to cost the most to insure. Once your car is a few years old however, your rates may start to dip back down a bit. The most expensive vehicles to insure in Florence are vehicles four-to-five years old.
Average Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$109|
More often than not, those who have settled down into marriage will pay slightly less for insurance coverage. This can usually be attributed to their policies having multiple vehicles, a factor some companies will reward with discounts.
The cost of auto insurance in Florence reflects the national trend of married couples paying less than single drivers to insure their vehicles, to the tune of about $11 a month.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$123|
One other element taken into consideration is your living situation. If you rent your home or apartment, expect to pay around $9 less than homeowners in Florence. Those who live with their parents, however, can expect to pay a good deal more than their counterparts who rent or own.
If you bundle your home or rental insurance and auto insurance policies, you can oftentimes reduce your average costs, depending on your insurance company.
Car Insurance Companies in Florence, KY
Recent trends in car insurance for Florence drivers
Given that average rates are often changing, it's a smart move to know the direction your area is trending when choosing your car insurance policy.
Car insurance rates in Florence went up from 2016-2018, before steadying out in 2019. Rates have been increasing again recently, and were up to $109 in 2021.
How does Florence compare to neighboring areas?
Why are car insurance rates in Florence different from other areas?
Car insurance companies will consider several factors when trying to decide how much to charge for a policy. While we've discussed the ones that affect your personal policy, others are based around where you live and drive. These include things like:
- Frequency of car accidents
- Prevalence of crime
- Off-street parking access
- Number of drivers in the region
Knowing the make-up of these factors can be helpful when deciding on purchasing a new policy or thinking about making a move. Get started with a guide like this to get familiar with the average rates of your area.
How can I find the cheapest car insurance in Florence?
While knowing what the average costs are for drivers like you can be helpful as you get an idea of what you might pay, the only way to know exactly what your rate will be is by requesting a quote from car insurance companies.
Good news! Compare.com does all of that work for you. Put in your ZIP below, answer a few questions about you and your car, and you'll be comparing the cheapest quotes from dozens of car insurance companies providing policies in Florence.
Florence Insurance FAQs
What factors affect car insurance quotes in Florence?
Car insurance companies calculate quotes based on a wide array of factors. These include things you can't control like your gender and age but also factors like your vehicle's year, make and model, as well as your driving record, credit score, marital status, and address.
Why is the cost of car insurance in Florence different from other neighboring cities?
Your address and the city you live in have a significant impact on how much a car insurance company might charge for your policy. Companies take into consideration things like parking situations, local laws, and crime rates when calculating your quote -- all of which can change from city to city.
Which car insurance company will offer me the cheapest rate in Florence?
Since the factors that go into calculating your monthly payment vary from person to person, there isn't one company that will always offer the cheapest rate to everybody. You can be confident that you're receiving the best price possible however, by using sites like Compare.com to compare multiple quotes at once.
Do I need to change my insurance if I move to Florence?
Any major life event, whether it be moving to a new area, finding a new job, getting married, or any other notable event always presents a good opportunity to re-evaluate your current insurance policy. Regardless of your previous rate, there may be cheaper options in your new location, so it's a good idea to use services like Compare.com to compare quotes from dozens of companies side-by-side.
Do I need to wait for my policy to expire to switch to a different car insurance company?
No. Regardless of how much time is left on your current policy, you can switch companies at any time. So, whether you're considering moving to Florence or just curious if you're getting the best rates, why not take 10 minutes and see if Compare.com can save you some extra cash?