8 Best Tricks to Cut Car Insurance Costs in Frankfort Kentucky

Price shopping your Frankfort car insurance is always difficult for consumers new to comparing rates online. There are so many choices that it can be a big hassle to find the best price in Frankfort.

It’s smart to price shop coverage every six months because prices go up and down regularly. Despite the fact that you may have had the lowest price last year you will most likely find a better rate today. You’ll find quite a bit of inaccurate information about car insurance on the web, but with this article, you’re going to get some solid techniques on how to buy car insurance cheaper.

Save big with these eight discounts

Insuring your vehicles can cost a lot, but you may find discounts that you may not even be aware of. Some trigger automatically at the time of purchase, but some must be asked for before you will receive the discount.

  • Multiple Cars – Buying insurance for all your vehicles with the same company may reduce the rate for each vehicle.
  • Lower Rates for Military – Being deployed with a military unit could be rewarded with lower premiums.
  • Multi-policy Discount – If you insure your home and vehicles with the same company you will save 10% to 20% off each policy.
  • New Vehicle Savings – Buying coverage on a new vehicle is cheaper due to better safety requirements for new cars.
  • Good Student – This discount can get you a discount of up to 25%. The good student discount can last until age 25.
  • No Charge for an Accident – A handful of insurance companies will forgive one accident before raising your premiums so long as you haven’t had any claims for a particular time prior to the accident.
  • Air Bag Discount – Vehicles equipped with air bags or motorized seat belts can receive discounts of up to 25% or more.
  • Sign Early and Save – A few companies offer discounts for signing up before your current expiration date. It can save you around 10%.

It’s important to understand that many deductions do not apply to the overall cost of the policy. The majority will only reduce individual premiums such as collision or personal injury protection. Even though it may seem like you would end up receiving a 100% discount, you’re out of luck. Any qualifying discounts will reduce the amount you have to pay.

Free Quotes for Car Insurance in Frankfort, KY

There are a lot of ways to compare car insurance prices and some are less time-consuming than others. You can waste a lot of time driving to agents in Frankfort, or you can utilize the web to accomplish the same thing much quicker.

Most car insurance companies participate in a marketplace where insurance shoppers enter their coverage request one time, and each company then returns a price quote based on that data. This eliminates the need for form submissions for each company you want a rate for.

To find out how much you can save on car insurance click here to start a free quote.

The only downside to getting quotes like this is buyers cannot specifically choose the insurers to get quotes from. So if you prefer to choose specific providers to receive pricing from, we have a page of low cost car insurance companies in Kentucky. Click here for list of insurance companies in Kentucky.

However you get your quotes, make darn sure you compare identical coverage limits for every quote you compare. If the quotes have different limits and deductibles on each one it’s impossible to make an equal comparison in Frankfort. Slightly different coverage limits could mean much higher rates. And when price shopping your coverage, quoting more gives you a better chance of getting the best rates.

But I don’t know anything about car insurance

When it comes to buying the right insurance coverage for your personal vehicles, there isn’t really a “best” method to buy coverage. Everyone’s situation is unique.

For example, these questions may help highlight if you would benefit from an agent’s advice.

  • Does my personal policy cover me when driving my company car?
  • Will I be non-renewed for getting a DUI or other conviction?
  • Who is covered by my policy?
  • Do I have coverage when making deliveries for my home business?
  • Am I covered if I drive in a foreign country?
  • Am I covered if I wreck a rental car?

If you don’t know the answers to these questions but you think they might apply to your situation, then you may want to think about talking to an insurance agent. If you don’t have a local agent, take a second and complete this form.

Buying car insurance from a local agent

Some consumers would prefer to buy from a local agent and that is OK! The biggest benefit of price shopping on the web is you can get better rates and still have an agent to talk to. And providing support for local insurance agencies is especially important in Frankfort.

To find an agent, once you fill out this short form, your information is instantly submitted to agents in your area who will give you bids for your coverage. You won’t need to leave your house since price quotes are sent immediately to your email address. Now that’s easy! You can find better rates and work with a local agent.

Do you need an independent or captive insurance agency?

When searching for an insurance agent, there are two types of insurance agents from which to choose. Agencies in Frankfort can either be captive or independent (non-captive).

Independent Agents

Independent agencies are not locked into one company but rather can write business with multiple insurance companies and possibly get better coverage at lower prices. If you are not satisfied with one company, your agent can switch companies and you don’t have to find a new agent.

When searching for an agent, it’s recommended you get quotes from at least one independent agent to ensure the widest selection of prices.Most can insure with smaller companies who may have lower rates.lower rates in Frankfort

Listed below are independent insurance agents in Frankfort that can give you comparison quotes.

  • R B Brown Insurance Inc – 949 Louisville Rd – Frankfort, KY 40601 – (502) 875-1301
  • Mark Gardner Insurance – 274 Versailles Rd – Frankfort, KY 40601 – (502) 695-9923
Captive Insurance Agents

This type of agents work for only one company and some examples include AAA, Allstate, State Farm, Farmers Insurance or Liberty Mutual. They usually cannot shop your coverage around so always compare other rates. Captive agents receive extensive training in insurance sales which helps them sell insurance even at higher premiums. Some people will only purchase coverage from captives mainly due to the brand legacy and the convenience of having a single billing for all their coverages.

The following is a short list of captive agents in Frankfort who can help you get rate quotes.

  • Shelter Insurance – 409 W Broadway St – Frankfort, KY 40601 – (502) 223-2196
  • State Farm Insurance – 114 Thompson St – Frankfort, KY 40601 – (502) 695-1799

To view a complete directory of captive insurance agencies in Frankfort, visit this link.

Choosing a car insurance agent requires more thought than just a cheap price. These are valid questions to ask:

  • Do they have any clout with companies to ensure a fair claim settlement?
  • What insurance companies do they recommend if they are an independent agent?
  • Do the companies they represent have a solid financial rating?
  • If your car is totalled, how to they determine the replacement cost?
  • Do they specialize in personal lines coverage?

After getting positive feedback to any questions you have and a good coverage price, you may have just found a car insurance agent that can adequately provide car insurance.

Advertising myths

Car insurance companies such as State Farm, GEICO and Progressive regularly use ads in print and on television. They all seem to have a common claim that you can save if you move to them. How can each company make the same claim? This is how they do it.

All companies can use profiling for the driver that earns them a profit. For example, a driver they prefer could be over the age of 40, a clean driving record, and has excellent credit. Any new insured who matches those parameters will get very good rates and as a result will probably save when switching.

Drivers who don’t measure up to this ideal profile will be charged a more expensive rate and ends up with business going elsewhere. The ads say “people who switch” not “people who quote” save that much money. That’s the way companies can truthfully advertise the savings.

That is why you should compare as many rates as you can. Because you never know which car insurance company will fit your personal profile best.

Car insurance coverage basics

Understanding the coverages of your policy aids in choosing the best coverages and proper limits and deductibles. Car insurance terms can be impossible to understand and even agents have difficulty translating policy wording.

Auto collision coverage

This coverage covers damage to your vehicle from colliding with an object or car. A deductible applies then your collision coverage will kick in.

Collision can pay for claims such as driving through your garage door, crashing into a building, hitting a parking meter, colliding with a tree and rolling your car. Collision coverage makes up a good portion of your premium, so consider dropping it from older vehicles. It’s also possible to increase the deductible to bring the cost down.

Insurance for medical payments

Coverage for medical payments and/or PIP kick in for expenses such as EMT expenses, rehabilitation expenses and pain medications. They are used to fill the gap from your health insurance policy or if you lack health insurance entirely. It covers all vehicle occupants and also covers getting struck while a pedestrian. PIP coverage is not an option in every state but it provides additional coverages not offered by medical payments coverage

Comprehensive coverage (or Other than Collision)

Comprehensive insurance covers damage from a wide range of events other than collision. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive insurance covers claims like a tree branch falling on your vehicle, damage from flooding, damage from a tornado or hurricane, falling objects and hail damage. The maximum payout you can receive from a comprehensive claim is the cash value of the vehicle, so if the vehicle’s value is low it’s not worth carrying full coverage.

Uninsured Motorist or Underinsured Motorist insurance

This protects you and your vehicle 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.

lower rates in Frankfort

Due to the fact that many Kentucky drivers have only the minimum liability required by law (25/50/10 in Kentucky), it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked. Frequently your uninsured/underinsured motorist coverages do not exceed the liability coverage limits.

Liability car insurance

Liability coverage protects you from injuries or damage you cause to people or other property that is your fault. This insurance protects YOU against claims from other people, and doesn’t cover your own vehicle damage or injuries.

Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see policy limits of 100/300/100 which stand for $100,000 in coverage for each person’s injuries, $300,000 for the entire accident, and a limit of $100,000 paid for damaged property. Another option is one limit called combined single limit (CSL) which combines the three limits into one amount with no separate limits for injury or property damage.

Liability coverage protects against claims such as medical services, funeral expenses and legal defense fees. How much coverage you buy is a personal decision, but consider buying as high a limit as you can afford. Kentucky state law requires minimum liability limits of 25,000/50,000/10,000 but it’s recommended drivers buy more coverage.

Smart consumers save more

People change insurance companies for a variety of reasons including policy non-renewal, unfair underwriting practices, lack of trust in their agent and even high prices. Regardless of your reason for switching companies, finding a new company is pretty simple and you could end up saving a buck or two.

As you prepare to switch companies, do not buy lower coverage limits just to save a few bucks. In many cases, drivers have reduced physical damage coverage only to regret at claim time that the small savings ended up costing them much more. The ultimate goal is to buy a smart amount of coverage at an affordable rate while still protecting your assets.

Budget-conscious car insurance is definitely available on the web and with local Frankfort insurance agents, so you should compare both so you have a total pricing picture. There are still a few companies who do not offer the ability to get a quote online and usually these regional insurance providers provide coverage only through local independent agents.

Learn more today

More information can be read on the Kentucky Department of Insurance website through this link. Kentucky consumers can find a variety of consumer forms, read consumer alerts, report car insurance fraud, and download brochures.

Other useful links include FindNewCarInsurance.com and this page where you can research Frankfort insurance agents.