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Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you. SHARE: 2c image/Getty Images December 30, 2021 Elizabeth Rivelli is a contributing insurance writer for Bankrate and has years of experience writing for insurance domains such as The Simple Dollar, Coverage.com and NextAdvisor, among others Maggie Kempken is an insurance editor for Bankrate. She helps manage the creation of insurance content that meets the highest quality standards for accuracy and clarity to help Bankrate readers navigate complex information about home, auto and life insurance. She also focuses on ensuring that Bankrate’s insurance content represents and adheres to the Bankrate brand. Bankrate logo The Bankrate promise
At Bankrate, we strive to help you make smarter financial decisions. To help readers understand how insurance affects their finances, we have licensed insurance professionals on staff who have spent a combined 47 years in the auto, home and life insurance industries. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation of how we make money. Our content is backed by LLC, a licensed entity (NPN: 19966249). For more information, please see our Insurance Disclosure. Bankrate logo The Bankrate promise
Founded in 1976, Bankrate has a long track record of helping people make smart financial choices. We’ve maintained this reputation for over four decades by demystifying the financial decision-making process and giving people confidence in which actions to take next. Bankrate follows a strict , so you can trust that we’re putting your interests first. All of our content is authored by and edited by , who ensure everything we publish is objective, accurate and trustworthy. Our insurance team is composed of agents, data analysts, and customers like you. They focus on the points consumers care about most — price, customer service, policy features and savings opportunities — so you can feel confident about which provider is right for you. We guide you throughout your search and help you understand your coverage options. We provide up-to-date, reliable market information to help you make confident decisions. We reduce industry jargon so you get the clearest form of information possible. All providers discussed on our site are vetted based on the value they provide. And we constantly review our criteria to ensure we’re putting accuracy first. Bankrate logo Editorial integrity
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You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. Bankrate follows a strict , so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money. Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. Bankrate logo Insurance Disclosure
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in . Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way. According to data pulled from Quadrant Information Services, car insurance in Lexington costs an average of $656 for minimum coverage and $1,662 for full coverage annually, which is close to the . If you are a motorist in Lexington, Geico and State Farm have some of the best coverage options and , according to our research. Compare rates and save on auto insurance today! Get quotes Close X RatesRates keep going up in 2022. Compare rates and save on auto insurance today! Get quotes Close X This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions. Compare auto insurance rates
Answer a few questions to see personalized rates from top carriers. Save on auto insurance with quotes from trusted providers like: Drivers switch & save an average of $750+/year Arrow Right Are you overpaying for auto insurance? Arrow Right Safe drivers choose Allstate Arrow Right Powered by Coverage.com (NPN: 19966249) Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in . Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way. See more providers in Choose from insurers in Show More RATE INCREASE ALERT Rates increased up to 12% this year
Shop for a better rate before you renew your current policy. This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions. Compare auto insurance rates
Answer a few questions to see personalized rates from top carriers. Save on auto insurance with quotes from trusted providers like: Drivers switch & save an average of $750+/year Arrow Right Are you overpaying for auto insurance? Arrow Right Safe drivers choose Allstate Arrow Right Powered by Coverage.com (NPN: 19966249) Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in . Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way. See more providers in Choose from insurers in Show More There were reported in Lexington in 2018, so if you live there or are planning to move to the area, you will probably want to consider getting sufficient car insurance coverage to protect yourself financially. When choosing an insurance provider, it is important to consider the cost, but do not forget other factors such as the company’s financial stability, coverage options and discounts offered, customer reviews, third-party ratings, and overall reputation in the industry. Lightbulb Bankrate Insight While USAA offers an affordable average annual full coverage car insurance rate of $1,344 and receives high marks from J.D. Power, it is only available to the military and their immediate families. Geico and State Farm are the cheapest car insurance companies in Lexington on our list, with an average annual cost for full coverage car insurance at $1,182 and $1,107, respectively. Lexington motorists pay an average of $656 for minimum and $1,662 for full coverage car insurance annually. Best car insurance companies in Lexington
Bankrate’s picks for the best car insurance companies in Lexington are Geico, Kentucky Farm Bureau, USAA and Grange. In addition to low rates, these companies also have excellent financial strength, good third-party ratings, generous savings opportunities and flexible coverage options. While we found these companies to be solid options, keep in mind that there may be other carriers in the area that are right for you, so it’s always a good idea to shop around and compare providers. Insurance company J.D. Power score Average annual premium for minimum coverage Average annual premium for full coverage Geico 857 / 1,000 $382 $1,188 851 / 1,000 $398 $1,458 USAA 909 / 1,000 $400 $1,344 Grange N/A $746 $1,326 Quadrant Information Services, 2021 Geico
Geico is one of the cheapest car insurance companies in Lexington, according to our research. The average driver pays $1,188 annually for a full coverage policy, which is $474 less than the citywide average rate. Geico offers a variety of , with savings for good students, safe drivers, military personnel, going on emergency deployment, federal employees and more. Geico’s are somewhat limited so it tends to be better for drivers who only need a basic policy. Learn more: Kentucky Farm Bureau
Kentucky Farm Bureau is known for its customer service and friendly agents. The company offers all the standard coverages, plus rental car reimbursement and towing and labor coverage. In addition to low premiums, the company has for good students, taking a driver training course, being a safe driver, insuring multiple vehicles and having certain safety features in your vehicle. USAA
USAA is one of the most well-known insurance companies for military personnel. You must be an active duty, retired service member or eligible family member in order to qualify for coverage. Drivers who are eligible for USAA can get low rates, highly-rated customer service and great , including savings for good students, good drivers, garaging your vehicle on a military base, being a loyal customer and driving under a certain mileage each year. On average, drivers save over $700 per year when they switch to USAA. Learn more: Grange
Grange is a solid choice in Lexington, Kentucky. The company offers an impressive lineup of , like pet coverage, mobile device coverage, full glass repair, gap insurance, OEM coverage, roadside assistance and more. In addition, drivers can save money by taking advantage of discounts for paying in full, being a good student, being a student away at school and enrolling in the telematics safe driver program. Learn more: Cheapest car insurance in Lexington
The in Lexington is significantly cheaper than the average rate in Kentucky, $2,128 per year for a full coverage auto insurance policy and $748 per year for a minimum coverage policy. By comparison, the average cost of car insurance in the United States is $1,674 per year for full coverage and $565 per year for minimum coverage. Car insurance premiums in Lexington vary by company. The following table looks at the cheapest car insurance rates in Lexington from the most popular carriers based on market share: Insurance company Average annual premium for minimum coverage Average annual premium for full coverage Geico $382 $1,188 USAA $400 $1,344 State Farm $463 $1,107 Nationwide $545 $1,246 Progressive $827 $1,756 Every cheap car insurance company in Lexington has its pros and cons. For example, Geico and State Farm offer limited coverage options. USAA is highly-rated, but it has eligibility requirements that restrict access for many individuals. Progressive’s policies can be expensive, but drivers get access to lots of great online tools and discounts. In terms of customer satisfaction, these five providers all ranked differently by J.D. Power in its 2021 auto insurance study. State Farm and USAA are the only two providers that ranked above the regional average of 847, although USAA is technically ineligible for ranking due to its eligibility restrictions. Nationwide, Allstate and Progressive all rank slightly below the regional average in the study. On the other hand, all five providers have excellent financial strength ratings from AM Best. Lexington insurance requirements
Car insurance in Lexington is required for drivers who own a vehicle that is registered in Kentucky. The minimum car insurance requirement is represented as , which includes the following personal liability insurance coverages: $25,000 in bodily injury coverage per person $50,000 in bodily injury coverage per accident $25,000 in property damage coverage per accident Minimum coverage insurance policies are generally the cheapest option available. However, there is no guarantee that a minimum coverage policy will cover the full cost of an accident. Additionally, liability-only insurance does not include any protection for your vehicle. Most insurance experts recommend that drivers purchase more coverage than legally required. Adding comprehensive and collision car insurance coverage could help mitigate your financial and legal risk if you cause an accident. And if you lease or finance your vehicle, your lender will likely require you to carry full coverage insurance until your loan is paid off. Car insurance discounts in Lexington
Drivers who are looking for may be able to take advantage of discounts to get a lower rate. Here are some of the car insurance discounts available in Lexington: Multi-vehicle discount: Drivers who insure multiple vehicles on their car insurance policy can often qualify for a discount. Vehicle safety equipment discount: If your car has safety features, like an anti-theft system or anti-lock brakes, ask your insurance provider about special savings. Pay in full discount: Drivers who pay their annual premium in one lump sum, rather than in monthly installments, can usually save money on their policy. Good student discount: Many insurance companies have rewards for good students who maintain a minimum GPA in school. Frequently asked questions
What is the best car insurance company
Car insurance is personalized, so the is different for every driver. For some drivers, State Farm might be their best option, and for others, USAA might be a better choice. As you are shopping for car insurance, look for providers that have what you need in terms of coverage, endorsements, discounts, digital tools, etc. How much does car insurance in Lexington cost
In Lexington, the average driver pays $1,662 per year for full coverage insurance and $656 per year for minimum coverage insurance. However, you might pay more or less than the citywide average rate based on personal factors like your age, credit score, the type of car you drive, the car’s mileage and more. How much car insurance do I need in Lexington
Per Kentucky state law, drivers in Lexington must carry at least 25/50/25 personal liability insurance. However, upgrading to a full coverage policy may sometimes be a smart investment. Insurance companies often recommend that drivers increase their policy’s limits for added protection in the event of an at-fault accident. Methodology
Bankrate utilizes Quadrant Information Services to analyze rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on a 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits: $100,000 bodily injury liability per person $300,000 bodily injury liability per accident $50,000 property damage liability per accident $100,000 uninsured motorist bodily injury per person $300,000 uninsured motorist bodily injury per accident $500 collision deductible $500 comprehensive deductible To determine minimum coverage limits, Bankrate used minimum coverages that meet each state’s requirements. Our sample drivers own a 2018 Honda Accord, commute five days a week and drive 12,000 miles annually. These are sample rates and should be used for comparative purposes only. Your quotes may be different. About the author
Elizabeth Rivelli is a contributing insurance writer for Bankrate and has years of experience writing for insurance domains such as The Simple Dollar, Coverage.com and NextAdvisor, among others Maggie Kempken is an insurance editor for Bankrate. She helps manage the creation of insurance content that meets the highest quality standards for accuracy and clarity to help Bankrate readers navigate complex information about home, auto and life insurance. She also focuses on ensuring that Bankrate’s insurance content represents and adheres to the Bankrate brand. Related Articles