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How much is car insurance in Lexington?
|Area||Average Monthly Car Insurance Premium|
The cost of coverage in Lexington is about $8 a month cheaper than it is for the rest of North Carolina.
Drivers relocating from out of state may enjoy some cost savings in Lexington. It's about $36 cheaper than the national average to insure your vehicle in Lexington.
Bear in mind that while these rates represent the expected monthly payments for Lexington drivers, it doesn't mean that's what you'll pay. Insurance companies take in a variety of factors when determining how much to charge you for coverage. Variables like age, gender, vehicle make and model, driving record, and even credit score (depending on your area) can all be taken into consideration when determining the bill you'll see each month.
We've broken down average rates for Lexington to help you understand what your policy's monthly premium will cost. And if you're not sure if you're getting the cheapest rate for your area, simply enter your ZIP Code below and find out!
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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. When it comes to auto insurance rates, that experience pays off. As you can see, 18-24-year-olds pay $25 more than drivers of retirement age.
You can expect to see a decrease in your monthly premium drop about once a decade or so. As you get closer to retirement age, however, you may see your rates creep back up in Lexington.
Average Car Insurance Rates by Gender
Car insurance rates for female drivers are usually cheaper than those for male drivers. The difference in Lexington is about $8 per month. Based on the chart above, you can see that male drivers pay $49 on average, while female drivers typically pay $41 each month.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
Rates can vary wildly depending on your driving record. Those with fewer accidents and tickets will pay significantly less than those with multiple infractions. In Lexington, drivers with one accident on their record will experience rates around $63 a month. In addition, drivers with a single ticket on their record can expect to pay around $60 a month on average.
When it comes to your monthly bill, accidents, tickets, and other driving infractions can really take a toll. Remember, the safer you are as a driver, the cheaper your car insurance will be.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||Not Enough Data|
|15 Years or Older||$43|
If you look at the first table above, you'll see that trucks and vans are typically the cheapest vehicles to insure in Lexington, with drivers paying around $35 per month for auto insurance coverage.
Car owners, on the other hand, by and large pay around $48 a month, while SUV drivers can expect to pay about $39 per month for insurance coverage.
Your vehicle's age also plays a role in your monthly payment. Generally, newer vehicles are going to be the most expensive to insure. However, once your car is close to 5 years old you may start to see your rates drop back down a bit. In Lexington, the most expensive vehicles to insure are vehicles eight-to-ten years old and four-to-five years old.
Average Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$47|
More often than not, married policyholders will pay slightly less for car insurance. This occurs because insurance companies commonly award special discounts to policyholders with multiple vehicles that are on the same policy.
On a national scale, married drivers typically pay less than single drivers for auto insurance. Lexington is no exception, with the difference totaling to around $8 a 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. Renters can expect to pay around $12 a month more than those who own their own home in Lexington. Those who live with their parents, however, can expect to pay a lot more.
That being said, many companies will offer you a discount if you bundle your homeowners or rental insurance policy with your auto insurance.
Car Insurance Companies in Lexington, NC
Recent trends in car insurance for Lexington drivers
Since average rates are constantly changing, it's a smart move to research the local trends in your area before picking an insurance policy.
In Lexington, the rates for car insurance had been decreasing from 2017-2018, when they hit a low of $37. This shifted in 2019, when policy premiums started to rise. They reached a high of $63 in 2020, and finished at $57 in 2022.
How does Lexington compare to neighboring areas?
Why are car insurance rates in Lexington different from other areas?
Car insurance companies look at several factors when they're choosing how much to charge for a policy. While we mentioned the factors that affect your personal policy, others are based around where you live and drive. These include things like:
- Off-street parking access
- Rate of car accidents
- Local laws
- Local crime rates
- Total number of drivers in the area
An awareness of these factors is important when thinking about buying a new policy or potentially moving to a new home. 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 Lexington?
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.
Good news! Compare.com does all of that work for you. Just type in your ZIP below, answer a few questions related to the factors we outlined above, and you'll be comparing the cheapest quotes from many of the car insurance companies that offer plans in Lexington.
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Lexington Insurance FAQs
What factors affect car insurance quotes in Lexington?
The factors that car insurance companies take into account when calculating your monthly cost include things you can't control like your gender and age, but also factors like your address, driving record, marital status, credit score, plus your vehicle's year and make and model.
Why is the cost of car insurance in Lexington different from other neighboring cities?
Auto insurance companies consider regional factors, such as parking situations, local laws, and crime rates 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 Lexington?
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 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?
Not at all, in fact you can switch companies at any point, regardless of how much time is left on your current policy. If you're thinking about moving to Lexington or haven't checked out the latest rates in your area for some time, it might be worth your while to take 10 minutes and see if Compare.com can save you any cash.
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