Table of contents
How much is car insurance in Lexington?
|Area||Average Monthly Car Insurance Premium|
Based on the above chart, auto insurance policies in Lexington are about $9 a month cheaper than in the rest of North Carolina.
Likewise, car insurance rates in Lexington are often favorable when viewed against the rest of the country. On average, it's about $35 less to insure your vehicle in Lexington than it is in the rest of the United States.
While these numbers represent the average monthly payments for coverage in Lexington, that doesn't mean it's what you'll pay. The amount that insurance companies end up charging you is determined by a number of factors. Things like age, gender, vehicle make and model, driving record and, in some areas, credit score can all play a part in figuring out your monthly premium.
We've broken down the average rates for Lexington to help you understand what exactly you might be asked to pay. And if you think you might be overpaying for insurance, simply enter your ZIP Code below to learn more about rates in your area!
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 auto insurance premiums, that experience pays off. As you can see, 18-24-year-olds pay a lot more than drivers 65 and older.
You can expect to see your monthly premium drop about once a decade or so. You may see your rates begin to go back up once you hit retirement age in Lexington.
Average Car Insurance Rates by Gender
Car insurance rates for men are usually slightly more expensive than they are for women. In Lexington, the difference comes out to about $7 per month. As illustrated in the table above, male drivers in the area pay about $49 on average, while female drivers pay around $42 each month.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
Depending on your driving record, your rates can vary wildly. Those with fewer accidents and tickets will pay a lot less than those with multiple infractions, while those with clean driving records will obviously pay the least. Drivers in Lexington with a single accident on their record will usually see rates around $64 a month. Likewise, drivers with one ticket will be looking at a rate of around $78 a month on average.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||Not Enough Data|
|15 Years or Older||$42|
According to the first table above, the cheapest vehicles to insure in Lexington are typically trucks and vans, at $31 per month.
Car owners will see a monthly bill of about $47, while SUV owners by and large pay around $40 a month.
In addition to vehicle type, you can also expect to see slightly different rates based on how old your vehicle is. Generally, newer vehicles are going to be the most expensive to insure. However, your rates may start to decrease if your car is a few years old. In Lexington, the most expensive vehicles to insure are vehicles eight-to-ten years old and six-to-seven years old.
Average Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$48|
Generally speaking, people who are married will pay slightly less for auto insurance. This usually boils down to owners having multiple vehicles on the same policy, something some companies will reward with discounts.
Married couples, on average, pay less than single drivers do to insure their vehicles. This holds true in Lexington, with married couples paying about $14 less per month.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$50|
Your housing situation is another factor that affects your monthly rate. In Lexington, homeowners can expect to pay around $16 a month less than those who rent. Those who live with their parents, however, can expect to pay a good deal more than their counterparts who rent or own.
Many companies, however, will offer you a discount to bundle your home or rental insurance with your auto insurance policy, which can help reduce your car insurance premiums.
Car Insurance Companies in Lexington, NC
Recent trends in car insurance for Lexington drivers
The average rates for car insurance are constantly changing, so it's a good idea to know the recent trends in your area before shopping for coverage.
The cost of auto insurance in Lexington went up from 2016-2017, before steadying out in 2018. They increased again, hitting a high of $63 in 2020, and finished down at $45 in 2021.
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 they're figuring out how much to charge for a policy. The price of your insurance policy will depend largely on where you call home and will be influenced by things such as:
- Local crime rates
- Local laws
- Number of car accidents
- Off-street parking access
- Total number of drivers in the community
You'll be hard pressed to change any of these factors yourself, but they're worth considering when thinking about the purchase of a new policy or a move. Realizing that different towns and cities will all have different rates, guides like these can be a good way to get a lay of the land of your corner of the world.
How can I find the cheapest car insurance in Lexington?
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. Just type in your ZIP below, answer a few questions about your driving profile, and you'll be comparing the cheapest quotes from dozens of car insurance companies that offer coverage in Lexington.
Lexington Insurance FAQs
What factors affect car insurance quotes in Lexington?
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 address, credit score, driving record and marital status, as well as your vehicle's year and make and model.
Why is the cost of car insurance in Lexington different from other neighboring cities?
Car insurance companies take local factors into consideration when determining how much to charge for coverage. Things like parking situations, crime rates, and local laws -- which can vary from city to city -- can significantly affect your rate.
Which car insurance company will offer me the cheapest rate in Lexington?
There isn't one company that will offer the cheapest rate to everybody. What companies will charge you are based on many different factors that vary from person to person, such as your driving record, what kind of car you drive, how many drivers will be on your policy, and a number of other factors. Because of this, it's a good idea to use sites like Compare.com to compare multiple quotes at once. That way, you can be confident you're getting the best price.
Do I need to change my insurance if I move to Lexington?
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. In fact, you can swap companies at any point, regardless of how much time is left on your current coverage. So, whether you're moving to Lexington or just curious about rates in your area, why not take 10 minutes to see if Compare.com can save you money?