Car insurance in Lexington costs an average of $1,201 per year, which is cheaper than the state average. The most affordable insurer is GEICO, at roughly $669 annually. MoneyGeek also analyzed the cheapest options across several driver profiles and coverage levels. For those looking for a balance between cost and quality, MoneyGeek ranked the best insurance companies in Lexington.
Compare the Cheapest Car Insurance Quotes in Lexington, KY
The Cheapest and Best Car Insurance in Lexington
The Cheapest Car Insurance Companies in Lexington
In Lexington, the companies with the most affordable average rates for full coverage insurance are:
- GEICO: $669 per year
- USAA: $725 per year (available only to current and former military)
Average car insurance rates in Lexington vary, with GEICO providing the most inexpensive rate. GEICO offers an average annual premium of $669, which is $532 cheaper than the state average for Kentucky. In comparison, the most expensive among car insurance companies in Lexington is MetLife, offering an average premium of $1,897 annually — a difference of $1,228 or 183.6% between the cheapest and most expensive average annual premiums.
These car insurance rates will vary depending on your personal profile. Auto insurance rates will rise if you have traffic violations or you were at-fault in a traffic accident. While cheap car insurance in Lexington is a good base reference, it’s crucial to get that personalized quote to determine the rate that's best for you.
For this study, MoneyGeek collected average insurance rates in Lexington for a sample 40-year-old male driver with a full coverage policy, including both liability and comprehensive and collision coverage.
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Average Cost of Car Insurance in Lexington
The average car insurance rate in Lexington is $1,201, compared to Kentucky’s $1,405 state average. Car insurance companies in Lexington also charge lower than the national average, $1,424, putting insurance in the city at 14.6% and 15.7% lower than both state and national premiums respectively.
All car insurance rates vary from person to person. Individual details for every motorist will be put into consideration. Find the best car insurance in Lexington by getting a personalized quote.
The Best Car Insurance Companies in Lexington
For those looking for an insurer that balances costs and quality service, MoneyGeek ranked the best companies in Lexington. According to MoneyGeek’s study, the best car insurance companies in the city for most drivers are:
- Erie: MoneyGeek score 93 out of 100
- Auto-Owners Insurance Co: MoneyGeek score 90 out of 100
USAA received the highest score in Lexington by MoneyGeek's rating system. However, because USAA is only available to military members, veterans and their families, it is not listed as best overall.
To calculate the final scores out of 100, MoneyGeek made use of several factors, including J.D. Power ratings for user satisfaction, financial stability and affordability.
Personalized Quotes to Get You the Cheapest Car Insurance in Lexington
Car insurance companies in Lexington have different rates that change depending on your personal profile. Your rates can raise or lower once your risk is put into consideration. Factors that insurance companies consider are zip code, driving experience, driving record, coverage level and the car’s make and model.
Finding the best premiums are only possible if you get a personalized quote from car insurance companies. By getting a personalized quote, you may find out that you qualify for rebates and discounts that you can’t get anywhere else.
Shopping around for car insurance in Lexington could save you $532, which is enough to buy:
Cheapest Car Insurance in Lexington by Coverage Amount
In Lexington and elsewhere, one of the most important factors determining the cost of car insurance is the coverage level you choose to pay for. As an example, state minimum liability car insurance in Lexington costs an average of $728 annually, while a full coverage policy with higher liability limits costs $1,201 on average. This a $473 difference.
Kentucky Minimum Liability Requirements
- Bodily Injury and Property Damage$25,000 per person, $50,000 per accident and $25,000 for property damage. A more protective level is 100/300/100.
- Personal Injury Protection$10,000 per person.
In Lexington, USAA provides the best state minimum coverage and 50/100/50 liability-only coverage. However, USAA only caters to the military, the members of their family and retired veterans.
The general public can go with the city's second most affordable option, GEICO. It's full coverage costs on average $594, which is $183 more than their liability-only coverage. Drivers should consider the type of coverage that will work best for them, so they can better understand what insurance company will offer them the best option.
Average Car Insurance Premiums: Liability-Only vs. Full Coverage
- CompanyState Minimumper year50 / 100 / 50per year
- 4.Kentucky Farm Bureau$452$501
- Company50 / 100 / 50per year100 / 300 / 100per year
- 4.Kentucky Farm Bureau$772$889
Cheapest Car Insurance in Lexington if You Have Driving Violations
Your driving history can influence the cost of your annual premiums. Premiums can vary depending on the violations you have.
GEICO, for example, will charge you $742 for a speeding ticket and $1,295 for being an at-fault driver in an accident. While the difference between a speeding ticket and a clean record is only $73, being an at-fault driver will cost you an extra $626, which is almost double what you'd pay if you had a clear record.
GEICO charges an average of $1,722 for a DUI, which is $1,053 more than you'd pay with a clear driving record. GEICO also offers a five-year, accident-free, good driver discount to clients, which can save drivers as much as 26% on most coverages.
- CompanySpeeding Ticketper yearAt-Fault Accidentper yearDUIper year
- 4.Kentucky Farm Bureau$889$1,155$1,941
Average Cost of Car Insurance by Postal Code
Your location is factored into your car insurance premium by insurance companies. Some ZIP codes will have higher premiums due to the regions having higher rates of accidents or car theft.
In Lexington, the cheapest ZIP code for auto insurance is 40515, which averages $1,173, followed by 40509 at $1,174. The most expensive region in Lexington is ZIP code 40517, at $1232.
- Zip CodeState Minimumper year
Factors That Impact Insurance Costs in Lexington
In addition to individual driver needs and history, location-specific factors like personal injury protection coverage requirements and the percentage of uninsured motorists also contribute to car insurance rates in Lexington. How Lexington ranks compared to the 300 most populous cities in the United States can have a significant impact on premium costs.
Methodology and Assumptions
MoneyGeek’s average premium rates for Lexington are based on 100/300/100 comprehensive collision coverage with a $1,000 deductible for a 40-year-old male driver. The average driver profiled drives a 2010 Toyota Camry LE and has no tickets or accidents on their record. Additional premiums are added based on coverage type, location and driving record. Learn more about MoneyGeek’s data and methodology here.
About the Author
- Safewise. "The 10 Safest Metro Cities in America for 2019." Accessed June 16, 2020.
- GEICO. "Car Insurance Discounts - Savings on Auto Insurance." Accessed June 16, 2020.