8 Ways You Can Buy Auto Insurance for Less in Richmond, KY

Sick and tired of not being able to afford to pay your car insurance bill each month? Your situation is no different than millions of other consumers. Lots of insurers contend for your business, and because of this it can be hard to compare insurers and uncover the absolute best rates possible.

You should take the time to price shop coverage once or twice a year since rates are variable and change quite frequently. Even if you got the best deal a few years ago there is a good chance you can find better rates now. Starting right now, ignore everything you know about auto insurance because you’re going to get a crash course in how to quote online to lower your annual insurance bill.

If you have insurance now or are looking for a new policy, you will benefit by learning to find better prices while maximizing coverage. Finding affordable coverage in Richmond is quite easy. Kentucky drivers only need to know the most efficient way to shop over the internet.

Compare the Market for Auto Insurance in Richmond

Finding lower Richmond auto insurance rates can be surprisingly simple. Drivers just need to spend a little time comparing price quotes online with multiple companies. It is quite easy and can be accomplished in just a few minutes using one of these methods.

  1. One of the best ways to get the best comparison quotes is to use a rate comparison form like this one (opens in new window). This form eliminates the need for a different quote for each company. One quote request will return price quotes .
  2. Another way to obtain and compare quotes online is to take the time to go to the website of each company to request a price quote. For sake of this example, we’ll pretend you want comparison quotes from State Farm, Farmers and GEICO. To get rate quotes you would need to visit each site to input your insurance information, and that’s why the first method is more popular.

    For a list of links to insurance companies in Richmond, click here.

  3. The least recommended way of getting rate comparisons is to waste gas driving to and from local Richmond insurance agencies. Buying insurance online eliminates the need for an insurance agent unless you require the personal advice of a licensed agent. However, consumers can comparison shop online but still have the advice of a local agent and we’ll talk about that later.

Which method you use is up to you, but make absolute certain that you use exactly the same coverages on every quote. If you compare different values for each quote it’s not possible to truly determine the lowest rate in Richmond.

Save $466 a year. For real?

Consumers in Kentucky can’t get away from ads for cheaper car insurance by Allstate and Progressive. They all seem to make an identical promise that you can save if you change to their company.

How can each company claim to save you money? This is how they do it.

Insurance companies have a certain “appetite” for the driver they prefer to insure. For instance, a preferred risk could be a mature driver, a clean driving record, and has great credit. A customer who meets those qualifications gets the lowest rates and as a result will probably save when they switch companies.

Potential insureds who don’t meet these standards must pay more money and ends up with the driver buying from a lower-cost company. The ad wording is “customers that switch” not “everyone that quotes” save that kind of money. That’s why insurance companies can confidently make those claims. This illustrates why drivers must compare many company’s rates. Because you never know the company that will give you the biggest savings.

Don’t overlook these eight discounts

Companies that sell car insurance don’t always list every available discount very clearly, so here is a list both well-publicized and the harder-to-find savings tricks you should be using. If you’re not getting every credit you qualify for, you’re paying more than you need to.

  • Federal Government Employee – Being employed by or retired from a federal job can earn a discount up to 10% with certain companies.
  • Senior Discount – If you qualify as a senior citizen, you may be able to get reduced rates.
  • Seat Belts Save – Using a seat belt and requiring all passengers to use a seat belt could save 15% off your PIP or medical payments premium.
  • One Accident Forgiven – A handful of insurance companies will forgive one accident before your rates go up if you are claim-free for a set time period.
  • More Vehicles More Savings – Having multiple cars or trucks on the same auto insurance policy may reduce the rate for each vehicle.
  • Driver’s Ed – Cut your cost by having your teen driver complete a driver education course in school.
  • Discount for Good Grades – A discount for being a good student can get you a discount of up to 25%. The discount lasts up to age 25.
  • Discounts for Safe Drivers – Insureds without accidents can pay as much as 50% less than drivers with accidents.

As a disclaimer on discounts, some credits don’t apply to the entire cost. Most only reduce the price of certain insurance coverages like physical damage coverage or medical payments. So when the math indicates all those discounts means the company will pay you, companies don’t profit that way.

For a list of providers offering auto insurance discounts in Richmond, click this link.

You are unique and your auto insurance should be too

When it comes to buying the right insurance coverage for your personal vehicles, there isn’t really a perfect coverage plan. Every situation is different so this has to be addressed. For example, these questions could help you determine if your insurance needs would benefit from professional advice.

  • Is my vehicle covered for flood damage?
  • What can I do if my company denied a claim?
  • Can I still get insurance after a DUI?
  • Is my custom paint covered by insurance?
  • Do I have coverage if my license is suspended?
  • Why is insurance for a teen driver so high in Richmond?
  • Am I covered by my spouse’s policy after a separation?

If you don’t know the answers to these questions, then you may want to think about talking to an agent. To find lower rates from a local agent, complete this form or click here for a list of auto insurance companies in your area. It only takes a few minutes and you can get the answers you need.

Aren’t my neighborhood agents an option?

Some consumers would prefer to visit with an insurance agent and there is nothing wrong with that. Educated insurance agents are trained to spot inefficiencies and help in the event of a claim. One of the great benefits of comparing insurance prices online is the fact that you can find lower rates and still have an agent to talk to.

For easy comparison, once you complete this form (opens in new window), the quote information is instantly submitted to local insurance agents who will give you bids for your insurance coverage. There is no need to even leave your home due to the fact that quote results will go straight to your inbox. How cool is that?!Auto insurance in Richmond KY

Picking an insurance company requires more thought than just the bottom line cost. Here are some questions to ask:

  • Do they assist clients in filing claims?
  • Will their companies depreciate repairs to your car based on the mileage?
  • Will your rates increase after a single accident?
  • How are they compensated?
  • If you have an accident, are you able to get your vehicle repaired at the shop of your choice?
  • Who are their largest clients?

Shown below is a list of car insurance companies in Richmond who can help you get price quotes.

Direct General Ins Agency – 527 Leighway Dr # A, Richmond, KY 40475 – (859) 625-1611
Jerry Goble State Farm Agent – 244 Boggs Ln, Richmond, KY 40475 – (859) 623-0350
Allstate Insurance – 226 E Main St, Richmond, KY 40475 – (859) 626-3848
Farm Bureau Insurance – 300 Highland Park Dr, Richmond, KY 40475 – (859) 623-5254
Linville Insurance – 2150 Lexington Rd # K, Richmond, KY 40475 – (859) 626-5252
Allen & Broaddus Insurance Inc – 620 Big Hill Ave # 12, Richmond, KY 40475 – (859) 623-9277

Upon getting positive feedback for all questions you ask and a low price estimate, it’s possible that you found an insurer that can properly insure your vehicles.

Specific coverages

Understanding the coverages of a auto insurance policy can be of help when determining the best coverages and proper limits and deductibles. Policy terminology can be confusing and reading a policy is terribly boring. Shown next are the normal coverages offered by auto insurance companies.

Medical payments coverage and PIP

Medical payments and Personal Injury Protection insurance kick in for immediate expenses like nursing services, funeral costs, surgery, chiropractic care and rehabilitation expenses. They can be used to cover expenses not covered by your health insurance plan or if there is no health insurance coverage. They cover not only the driver but also the vehicle occupants and will also cover any family member struck as a pedestrian. PIP coverage is not universally available and may carry a deductible

Liability insurance

Liability coverage provides protection from injuries or damage you cause to other people or property by causing an accident. This coverage protects you against other people’s claims, and doesn’t cover your own vehicle damage or injuries.

Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have policy limits of 100/300/100 that means you have $100,000 in coverage for each person’s injuries, a limit of $300,000 in injury protection per accident, and a limit of $100,000 paid for damaged property.

Liability coverage protects against claims such as bail bonds, court costs, repair costs for stationary objects, legal defense fees and emergency aid. How much liability should you purchase? That is a personal decision, but it’s cheap coverage so purchase as high a limit as you can afford. Kentucky requires minimum liability limits of 25,000/50,000/10,000 but you should consider buying higher limits.

Collision protection

Collision coverage covers damage to your vehicle resulting from colliding with an object or car. You have to pay a deductible then the remaining damage will be paid by your insurance company.

Collision insurance covers things such as crashing into a ditch, rolling your car and damaging your car on a curb. This coverage can be expensive, so consider dropping it from older vehicles. You can also raise the deductible to bring the cost down.

Comprehensive coverage

Richmond Kentucky car insurance prices

This pays for damage OTHER than collision with another vehicle or object. You need to pay your deductible first and then insurance will cover the rest of the damage.

Comprehensive insurance covers things such as vandalism, hitting a deer and hail damage. The maximum payout you’ll receive from a claim is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value consider dropping full coverage.

Uninsured/Underinsured Motorist coverage

Your UM/UIM coverage gives you protection when the “other guys” either have no liability insurance or not enough. Covered claims include injuries to you and your family and also any damage incurred to your vehicle.

Since many Kentucky drivers only purchase the least amount of liability that is required (25/50/10), their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage is important protection for you and your family.

Do the work, save more money

Cheaper auto insurance can be bought both online in addition to many Richmond insurance agents, so you should compare both to get a complete price analysis. A few companies do not provide the ability to get a quote online and many times these small, regional companies only sell through independent insurance agents.

Throughout this article, we presented many ways to compare auto insurance prices online. It’s most important to understand that the more price quotes you have, the better likelihood of reducing your rate. Consumers may even find the lowest priced auto insurance comes from a company that doesn’t do a lot of advertising. They may often insure only within specific states and give getter rates as compared to the big name companies such as Progressive and GEICO.

When buying insurance coverage, make sure you don’t buy lower coverage limits just to save a few bucks. There have been many cases where drivers have reduced uninsured motorist or liability limits only to regret at claim time that it was a big error on their part. Your strategy should be to buy the best coverage you can find at a price you can afford while still protecting your assets.

More tips and info about auto insurance can be read at the Kentucky Department of Insurance website. Consumers can read industry bulletins, find a variety of consumer forms, get help finding coverage, and read enforcement actions against agents and companies.