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How much is car insurance in Madisonville?
|Area||Average Monthly Car Insurance Premium|
Compared to the rest of the Kentucky, coverage in Madisonville is about $35 a month cheaper.
The average cost of insuring your vehicle in Madisonville is above the national rate. It's about $16 more for coverage in Madisonville than in the rest of the U.S.
Bear in mind that while these rates represent the expected monthly payments for Madisonville drivers, it doesn't mean that's what you'll pay. There are a number of factors that determine how much insurance companies might charge you for your insurance policy. The final dollar amount you'll be asked to pay each month is calculated off of your age, gender, vehicle make and model, driving record, and even your credit score depending on the circumstances.
We've analyzed the average rate for Madisonville and broken down the different factors to help you understand what your policy's monthly premium will be. If you think you might be overpaying for insurance in your area, enter your ZIP Code below and find out!
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Average Car Insurance Rates by Age
|Age Range||Average Premium|
|45-54||Not Enough Data|
It makes sense that older drivers would have more experience behind the wheel. When it comes to car insurance rates, that experience can really pay off. According to the table above, you can see that 18-24-year-olds pay $65 more than drivers 65 and older.
You can expect to see your monthly premium drop about once a decade or so. As you get closer to retirement age, however, you may see your rates begin to go back up in Madisonville.
Average Car Insurance Rates by Gender
On average, female drivers pay slightly less for car insurance than their male counterparts. This rings true in Madisonville, where women pay around $12 less per month than men. As you can see in the chart above, car insurance for women in the area typically costs around $94 each month, while men pay $106 on average.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
Your rates can change quite drastically depending on your driving record. Drivers with clean records will pay lower rates than those with accidents or violations. In Madisonville, having a single accident on your record will usually get you rates around $104 a month. Similarly, if you have one ticket on your record, you will be looking at an average rate of around $117.
When it comes to your monthly bill, accidents, tickets, and other driving infractions can really take a toll. That's why it's important to drive safely and keep your record clean so you can keep your rates as low as possible.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$88|
|15 Years or Older||$95|
According to the first table above, SUVs are usually the cheapest vehicles to insure in Madisonville, with drivers paying around $94 per month for auto insurance.
Truck and van drivers will see rates of about $96, while the rates for car owners average out to about $99 per month.
Your rates can also vary depending on how old your vehicle is. Generally, newer vehicles are going to cost the most to insure. However, if your car is a few years old, you can expect to see your rates start dropping back down. The most expensive vehicles to insure in Madisonville are vehicles four-to-five years old.
Average Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$99|
Generally, married policyholders will pay slightly less to insure their car. This occurs because insurance companies commonly offer special discounts to policyholders with multiple vehicles that are on the same policy.
Although single drivers normally pay more for auto insurance than married couples do, the rates for both groups in Madisonville are about the same.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$84|
Your living accommodations is another factor that affects your monthly rate. Those who own their own home in Madisonville can expect to pay around $12 a month less than those who rent. 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 overall costs, depending on your insurance company.
Car Insurance Companies in Madisonville, KY
Recent trends in car insurance for Madisonville drivers
Since car insurance rates are constantly changing, it's a good idea to know the local trends in your area before selecting an auto insurance policy.
Auto insurance rates in Madisonville increased from 2017-2018, before turning downward from 2019-2020. They finished down in 2022 at $92.
How does Madisonville compare to neighboring areas?
Why are car insurance rates in Madisonville different from other areas?
When considering how much to charge for coverage, car insurance companies will review a variety of factors. While we mentioned the factors that affect your personal policy, others are based around your home address. These include things like:
- Road Safety (how many accidents each locality has)
- Total amount of drivers in the community
- Availability of off-street parking
- Local crime rates
- Local laws
A decent level of familiarity with these factors can be helpful when you're ready to purchase of a new policy or thinking about making a move. Different cities and towns will each have different rates, so guides like these are a handy way to get started.
How can I find the cheapest car insurance in Madisonville?
Equipping yourself with information about the average costs for drivers in your area will better prepare you for the real deal. The only way to know for sure what your rate will be is by asking for a quote from car insurance companies.
But wait! Compare.com does all of that work for you. Just type in your ZIP below, answer a few questions on you and your vehicle, and you'll be comparing the cheapest quotes from several of the car insurance companies offering coverage in Madisonville.
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Madisonville Insurance FAQs
What factors affect car insurance quotes in Madisonville?
Car insurance companies calculate quotes based on a wide array of factors. These include things like your gender and age, but also factors like your vehicle's year, make and model, plus your driving record, credit score, marital status, and address.
Why is the cost of car insurance in Madisonville different from other neighboring cities?
Things like crime rates, parking situations, and local laws, which are dependent on your address and area you live in, can significantly affect the cost of insurance relative to other cities.
Which car insurance company will offer me the cheapest rate in Madisonville?
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 Madisonville?
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. You can switch companies at any time, regardless of how long is left on your current policy. So, if you've recently moved to Madisonville 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.
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