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You can calculate how much car insurance you'll need in Kentucky with the help of MoneyGeek's simple and user-friendly car insurance calculator.
We looked into how Kentucky's insurance companies set their rates so you can learn how the state's insurance rates are determined and the factors that are considered.
Kentucky Car Insurance Calculator: How it Gets You an Instant, Free Estimate
A personalized car insurance quote in Kentucky can be generated in about 10–15 minutes by providing the necessary personal information.
Based on your age, driving record, vehicle type and coverage levels, MoneyGeek's car insurance calculator for Kentucky can estimate your annual or monthly premiums.
Adding a teen driver to a policy, the driver's credit score and the driver’s age have the biggest impact on Kentucky's auto insurance rates, according to our calculator. However, it is possible that your insurance premiums could be influenced by a different factor.
Using MoneyGeek's calculator, you can get an estimate of the cheapest quotation. However, a lot of variables go into the calculation. The cheapest widely available company for MoneyGeek's default driver is State Farm, with an average annual premium of $424.
Our car insurance calculator can help you figure out how to calculate insurance premiums in Kentucky to get an idea of how high your premiums will be, or you can look through our list of sample drivers who have the lowest car insurance costs in the state.
We compared the average cost of car insurance in Kentucky to that of other states so you can see how your rates compare.
In addition, MoneyGeek compiled a list of the best auto insurance providers in Kansas, highlighting those that offer both high-quality service and affordable rates.
How Car Insurance Premiums are Calculated in Kentucky
Car insurance costs in Kentucky are based on a variety of factors, including your age, gender, type of vehicle, driving history and coverage levels. The cost of car insurance in the state is highly influenced by adding a teen driver to the family policy, the driver's credit score and the driver’s age.
Car insurance premiums can rise by as much as 2.9 times in Kentucky when adding a teenager to an existing family policy.
How Much Adding a Teen Driver Matters in Calculating Car Insurance in Kentucky
You might expect to pay more for car insurance if you add a teen driver to your policy. Since teenage drivers are inexperienced, insurance companies charge more for adding them to your policy.
Car insurance premiums in Kentucky are most affected by the addition of a teen driver to your policy. It can raise your auto insurance rates by 2.9x.
How Much Credit Score Matters in Calculating Car Insurance in Kentucky
Your credit score is the second most influential factor in determining Kentucky auto insurance premiums. Maintaining a strong credit score is critical for obtaining cheaper car insurance rates.
In Kentucky, having a poor credit score as compared to an excellent score might result in a 2.5x increase in the cost of your car insurance.
How Much Age Matters in Calculating Car Insurance in Kentucky
When it comes to determining your Kentucky car insurance rates, your age is the third most essential factor to consider. Insurance premiums for drivers who are 19 or 20 tend to be the highest in Kentucky, while drivers who are 40 years of age can get the most affordable rates.
Depending on your age, your insurance premiums can rise by up to 2.5x in Kentucky.
How Much Coverage Level Matters in Calculating Car Insurance in Kentucky
The cost of your Kentucky car insurance will also be influenced by the level of protection you purchase. Increasing your insurance coverage will cost you more money, but it will also give you more protection. A liability-only policy in Kansas that meets the state minimum limits is your most affordable option. The highest annual rate is for full coverage car insurance with liability limits of 100/300/100 and a $500 deductible.
In Kentucky, rates can vary by as much as 2x based on your coverage levels.
How Much Car Model Matters in Calculating Car Insurance in Kentucky
The model of your vehicle also affects your insurance rates in Kentucky. It is more expensive to insure a luxury car because of the high repair costs and higher resale value. Certain models, such as sports cars, come with higher theft and damage risk and may need additional coverage.
In Kentucky, the cost of car insurance can be up to 2x more if you drive a high-end or luxury vehicle.
How to Calculate How Much Car Insurance You Need in Kentucky
The level of coverage you choose has a significant influence on your insurance rates in Kentucky. In order to find the right balance between cost and protection, you must know how much protection you need.
Every driver in Kentucky must have bodily injury liability coverage, property damage liability coverage and personal injury protection insurance. However, your specific circumstances may necessitate the purchase of additional coverage like comprehensive and collision coverage.
Understand Kentucky car insurance requirements
Understanding Kentucky's minimum insurance requirements can help you make informed coverage choices. The state minimum policy mandates $25,000 in bodily injury liability per person, $50,000 in bodily injury liability per accident and $25,000 in property damage liability per accident.
Under Kentucky law, neither collision nor comprehensive coverage is required. Extending your liability limits or purchasing comprehensive and collision coverage will help you avoid major financial losses.
Consider Purchasing Additional Liability Insurance
There is only a limited amount of protection offered by the state minimum liability insurance in the event of an accident. You may need additional liability insurance if you're in a serious accident because of the higher costs.
The liability insurance for the minimum limits costs $774 a year on average in Kentucky. A $300,000 bodily injury liability policy will raise your annual premium to roughly $1,074.
Decide whether or not to buy comprehensive and collision insurance
Although Kentucky law does not mandate drivers carry collision and comprehensive coverage, leasing or financing your car may necessitate it. You should consider if you need a full coverage policy because it covers you in the case of a car loss or damage.
The average annual cost of adding comprehensive and collision insurance in Kentucky is $404, with a deductible of $1,000. Insurance costs. However, it may not be worth hundreds of dollars each year for a car that is only worth a few thousand dollars.
Consider buying additional protection besides these core coverages
Uninsured/underinsured motorist coverage is not required by law in Kentucky. This coverage protects against collisions caused by uninsured or underinsured drivers. The uninsured motorist rate in Kentucky is 13.9%, which is not that low. Given this figure, it could be wise to get uninsured motorist coverage.
$10,000 in personal injury protection insurance is required by law in Kentucky.
Frequently Asked Questions About How Car Insurance is Calculated in Kentucky
Here are some answers to frequently asked questions about car insurance in Kentucky. You can save money on your auto insurance if you understand the factors that go into calculating your rate.
MoneyGeek partnered with Quadrant Data Services to get car insurance quotes from across Kentucky. Our data science team analyzed how personal factors impacted cost and incorporated our findings into our calculator to provide users with an accurate estimate of their expected yearly auto insurance costs. Read more about our methodology here.
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