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How much is car insurance in Lexington?
|Area||Average Monthly Car Insurance Premium|
Auto insurance coverage in Lexington is about $23 cheaper than it is in the rest of Kentucky.
On the flip side, drivers in Lexington may pay higher rates than the rest of the country. The cost of auto coverage in Lexington is about $29 more expensive than the national average.
These rates may be the average amount Lexington residents 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 to insure your vehicle. The bill you'll see each month is calculated based on things like age, gender, vehicle make and model, driving record, and in some cases, credit score.
We've analyzed the average rate for Lexington and broken down the different factors to help you understand what exactly you might be asked to pay. To find out if you're overpaying for your area, just enter your ZIP below and find out in minutes!
Average Car Insurance Rates by Age
|Age Range||Average Premium|
Generally speaking, the older you are, the more experience you have driving, right? That experience can lead to some serious savings when it comes to auto insurance bills. According to the table above, you can see that 18-24-year-olds pay significantly more than someone who is at retirement age.
Every ten years or so you can expect to see a decline in your monthly premium. You may see your rates creep back up a bit once you hit retirement in Lexington.
Average Car Insurance Rates by Gender
On average, female drivers pay slightly less than male drivers for car insurance. In Lexington, however, male and female drivers both pay, on average, $109 for their monthly policy premium.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
Your rates can change quite drastically depending on your driving record. Those with clean records will obviously pay much less than those with infractions. In Lexington, a driving record with one accident will usually get you a rate around $132 a month. Likewise, drivers with one ticket will be looking at a rate of around $152 a month on average.
Accidents, tickets, and other driving infractions can really hurt your wallet. In order to keep your monthly bill down and get the cheapest car insurance possible, keep your record clean and drive safely.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$93|
|15 Years or Older||$103|
According to the first table above, the cheapest vehicles to insure in Lexington are by and large trucks and vans, at $93 per month.
Car owners will see a monthly bill of about $111, while SUV owners usually pay around $108 a month.
Your rates can also vary depending on the age of your vehicle. Newer vehicles are generally going to be the most expensive to insure. However, if your car is close to 5 years old, you can expect to see your rates start dropping back down. In Lexington, vehicles eleven-to-fourteen years old are the most expensive to insure.
Average Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$114|
On average, married policyholders will pay slightly less to insure their car. This can usually be attributed to their policies having multiple vehicles, a factor many companies award special discounts for.
In Lexington, the difference in rates based on relationship status can be as much as $21 a month.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$130|
Your housing status is another component of how insurance companies calculate your monthly rate. Renters can expect to pay around $17 a month more than those who own their own home in Lexington. But if you live with your parents, you can expect to pay a lot more.
Bundling your home or rental insurance with your auto insurance can oftentimes reduce your average costs, depending on your insurance company.
Car Insurance Companies in Lexington, KY
Recent trends in car insurance for Lexington drivers
Since car insurance rates are constantly changing, it's a good idea to know the local trends in your area when choosing your car insurance policy.
In Lexington, auto insurance rates went up from 2016-2018, before decreasing from 2019-2020. They finished up in 2021, at $121.
How does Lexington compare to neighboring areas?
Why are car insurance rates in Lexington different from other areas?
Car insurance companies will take into account a variety of factors when figuring out how much to charge for a policy. Many factors affecting your policy are based around where you live. These factors include things like:
- Community laws
- Total number of drivers in the area
- Road Safety (total number of local car accidents)
- Access to off-street parking
- Area crime rates
Having an awareness of these factors is critical when thinking about buying a new policy or potentially moving to a new home. Each area will have different rates. Guides like these are a wonderful place to get started.
How can I find the cheapest car insurance in Lexington?
While understanding what the average costs are for drivers like you can be helpful as you get an idea of what you might end up paying, the only way to know exactly what your rate will be is by requesting a quote from car insurance companies.
Fortunately, Compare.com does all of that work for you. Put in your ZIP Code below, answer a few questions related to the factors we outlined above, and you'll be comparing the cheapest quotes from a bulk of the car insurance companies providing auto coverage in Lexington.
Lexington Insurance FAQs
What factors affect car insurance quotes in Lexington?
Auto insurance companies take a wide array of factors into consideration when calculating your monthly payment. These include things like your vehicle's year, make and model, your age and gender, as well as your credit score, driving record, address, and marital status.
Why is the cost of car insurance in Lexington 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 crime rates, local laws, and parking situations when calculating your quote -- all of which can change from city to city.
Which car insurance company will offer me the cheapest rate in Lexington?
There isn't one company that can guarantee the cheapest rate to everybody, since the rates they charge for coverage are calculated based off of factors that can vary from person to person, such as vehicle make and model, driving record, and number of drivers on the policy. By using sites like Compare.com to compare multiple quotes simultaneously, you can rest assured that you're getting the best price available.
Do I need to change my insurance if I move to Lexington?
Whenever you move to a new area, or experience any other major life event such as getting married or finding a new job, it's always a good idea to re-evaluate your current insurance policy. Certain companies may offer larger discounts in certain cities, so it's a smart 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. You can switch companies at any time, regardless of how long is left on your current policy. So, if you've recently moved to Lexington or it's been a while since you last compared car insurance rates, you may want to take 10 minutes and see if Compare.com can save you money.