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How much is car insurance in Louisville?
|Area||Average Monthly Car Insurance Premium|
Car insurance policies in Louisville are about $50 a month more expensive than the rest of Kentucky.
Likewise, drivers in Louisville may pay higher rates than the rest of the country. The average monthly payment in Louisville is about $101 more expensive than the rate for the rest of the U.S.
Keep in mind that while these are the average car insurance rates for Louisville, it isn't guaranteed that it's what you'll pay. Insurance companies take an array of factors into consideration when determining how much to charge you to insure your vehicle. Age, gender, vehicle make and model, driving record, and in some cases, your credit score, are all factored into assessing the final dollar amount you'll be asked to pay each month.
But don't worry, we've broken down the average rates for Louisville residents based on several different factors so that you can get a more accurate idea of what you might pay. To find out if you're getting the cheapest rate, just enter your ZIP Code below and find out in minutes!
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Average Car Insurance Rates by Age
|Age Range||Average Premium|
|45-54||Not Enough Data|
The older you are, the more experience you're likely to have behind the wheel, right? That experience can really work in your favor when it comes to auto insurance. According to the table above, you can see that 18-24-year-olds pay two times as much as drivers 65 and older.
You can expect to see your monthly premium drop about once a decade or so. Once you hit retirement age, however, you may see your rates climb back up a bit in Louisville.
Average Car Insurance Rates by Gender
Car insurance rates for female drivers are usually cheaper than those for male drivers. In Louisville, the difference is around $5 per month. As you can see in the table above, male drivers in the area typically pay $184 on average, while female drivers typically pay $179 each month.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
Your rates can vary wildly depending on your driving record. Those with fewer accidents and tickets will pay less than those with multiple infractions. The rate for drivers in Louisville with a single accident on their record is about $237 a month. Likewise, drivers with one ticket on their record will be looking at an average rate of around $233.
When it comes to your monthly premium, accidents, tickets, and other driving infractions can really take a toll. So, if you want the cheapest rates, drive carefully and try to maintain a clean driving record.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$196|
|15 Years or Older||$176|
The cheapest vehicles to insure in Louisville are by and large trucks and vans, with each type typically costing about $156 per month.
SUV drivers will see rates of about $171 for auto insurance coverage, while car owners usually pay around $190 a month.
In addition to vehicle type, you can also expect to see slightly different rates depending on how old your vehicle is. Newer vehicles are generally going to be the most expensive to insure. However, once your car is a few years old, you may start to see your monthly premium drop back down. In Louisville, vehicles four-to-five years old are the most expensive to insure.
Average Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$190|
Generally speaking, married policyholders will pay slightly less to insure their car. 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 Louisville reflects the national trend of married couples paying less than single drivers to insure their vehicles, to the tune of about $37 a month.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$255|
Another factor taken into consideration is your housing situation. Renters can expect to pay around $31 a month more than those who own their own home in Louisville. But those who live at home with their parents can expect to pay significantly more.
That said, if you bundle your homeowners or rental insurance policy with your auto insurance, many companies will offer you a discount to make up for it and reduce your average premiums.
Car Insurance Companies in Louisville, KY
Recent trends in car insurance for Louisville drivers
Since car insurance rates are constantly changing, it's a good idea to know the local trends in your area before choosing an insurance provider.
The cost of car insurance coverage in Louisville had been increasing from 2017-2018, before steadying out in 2019. They increased again, hitting a high of $199 in 2021, and finished down at $169 in 2022.
How does Louisville compare to neighboring areas?
Why are car insurance rates in Louisville different from other areas?
Car insurance companies will take into account numerous factors when they're figuring out how much to charge for a policy. Your insurance policy will depend largely on where you live and drive and will be influenced by things such as:
- General road safety (how many accidents each locality has)
- Crime levels
- Number of drivers
- Availability of off-street parking
- Local regulations
It's good to be aware of these factors (even though you may not be able to do much to change them) as you shop for a new policy or consider 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 Louisville?
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. Just put in your ZIP below, answer a few questions related to the factors we outlined above, and you'll be comparing the cheapest quotes from numerous car insurance companies that offer auto coverage in Louisville.
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Louisville Insurance FAQs
What factors affect car insurance quotes in Louisville?
Quotes are calculated by car insurance companies who take multiple factors into consideration, including things you can't control like your gender and age, but also factors like your driving record, address, credit score, and marital status.
Why is the cost of car insurance in Louisville different from other neighboring cities?
Auto insurance companies consider regional factors, such as crime rates, parking situations, and local laws into account when calculating the monthly rate for coverage. Since these can all vary from city to city the rates you may see can differ from neighboring areas.
Which car insurance company will offer me the cheapest rate in Louisville?
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 by using sites like Compare.com to compare multiple quotes at once.
Do I need to change my insurance if I move to Louisville?
Whenever you relocate or experience another major life event, such as getting married or finding a new job, you should consider re-evaluating your current insurance policy. By using services like Compare.com to compare quotes from multiple companies at once, you can be sure to capture any new savings brought about by your new situation.
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 point, no matter how much time is left on your current policy. If you're thinking about moving to Louisville or are wondering if you're paying the best rate for your current area, take 10 minutes and visit Compare.com to find out for sure.
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