Compare Richmond Kentucky Auto Insurance for the Lowest Rate With These Tricks

Finding lower premiums on Richmond auto insurance can be hard for consumers new to comparison shopping online. You have so many options that it can easily become a real challenge to locate the lowest price in Richmond.

The purpose of this article is to familiarize you with the best way to quote coverages and some tips to save money. If you are paying for car insurance now, you will be able to cut costs considerably using these tips. Kentucky vehicle owners only need to know how to shop for auto insurance on the web.

Finding Auto Insurance Deals in Richmond

There are multiple methods to compare auto insurance quotes, but one way is easier and takes less work. You can spend your afternoon talking about coverages with agents in Richmond, or you can utilize online quoting to get rates in a matter of minutes.

Most of the larger companies participate in a marketplace that allows shoppers to send in one quote, and each company then gives them pricing based on that data. This system prevents you from having to do form submissions to each company.

To access this free quoting program, click to open in new window.

The only downside to using this type of system is you are unable to specify the companies you will receive quotes from. If you wish to select from a list of companies to compare, we have a page of low cost auto insurance companies in Kentucky. Click to view list.

It’s up to you how you get prices quotes, just ensure you’re using apples-to-apples deductibles and coverage limits for every company. If you have unequal deductibles or liability limits it will be next to impossible to make an equal comparison in Richmond.

Don’t overlook these discounts

Insurance can be prohibitively expensive, but you may find discounts that many people don’t even know exist. Some trigger automatically at the time of purchase, but a few need to be asked about prior to getting the savings. If they aren’t giving you every credit available, you’re just leaving money on the table.

  • Pay Now and Pay Less – If paying your policy premium upfront instead of monthly or quarterly installments you may reduce your total bill.
  • Save with a New Car – Adding a new car to your policy can be considerably cheaper compared to insuring an older model.
  • Anti-lock Brake System – Anti-lock brake equipped vehicles prevent accidents and therefore earn up to a 10% discount.
  • Service Members Pay Less – Being deployed with a military unit can result in better rates.
  • Bundle and Save – When you combine your home and auto insurance with the same company you will save at least 10% off all policies.
  • Passive Restraints – Factory air bags or automatic seat belts can get savings of more than 20%.
  • Own a Home – Simply owning a home can save you money because owning a home demonstrates responsibility.
  • Seat Belts Save – Drivers who require all occupants to wear their seat belts can save 10% or more off your medical payments premium.

Consumers should know that most credits do not apply to all coverage premiums. Some only reduce the cost of specific coverages such as liability and collision coverage. Even though it may seem like you could get a free auto insurance policy, it just doesn’t work that way. Any qualifying discounts will cut your premiums.

What about my local Richmond agents?

Some consumers would rather visit with an insurance agent. Educated insurance agents can help determine the best coverages and help file insurance claims. One of the best bonuses of comparing insurance prices online is you may find the best rates and still choose a local agent. Supporting local businesses is important particularly in Richmond.

Upon completion of this form (opens in new window), the coverage information is immediately sent to local insurance agents who will battle to get your business. You never need to leave your computer as quotes are delivered directly to your email. It doesn’t get any easier!

Pick the best auto insurance agent in Richmond for you

When finding a good insurance agency, there are two different types of agents to choose from. Insurance agencies in Richmond can either be captive or independent (non-captive). While both can insure your vehicles, but it’s worth learning how they differ because it can influence your agent selection.Kentucky auto insurance

Independent Agents (or Brokers)

These agents do not work for one specific company but rather can write business amongst many companies depending on which coverage is best. To transfer your coverage to a different company, an independent agent can move your coverage and you won’t have to switch agencies. When searching for an agent, it’s recommended you contact multiple independent agents for maximum quote selection. Most have the option of insuring with different regional companies which can save you money.

Below is a short list of independent agencies in Richmond willing to provide rate quotes.

  • Cole Insurance – 312 Highland Park Dr – Richmond, KY 40475 – (859) 623-4309
  • Madison Insurance Inc – 1505 Lexington Rd – Richmond, KY 40475 – (859) 626-8638
  • Direct General Ins Agency – 527 Leighway Dr # A – Richmond, KY 40475 – (859) 625-1611
Captive Insurance Agents

This type of agents can only write with one company such as Allstate, Farmers Insurance or State Farm. They generally cannot shop your coverage around so always compare other rates. These agents are very knowledgeable on the products they sell which helps them sell insurance even at higher premiums. Consumers often buy insurance from these agents primarily because of the brand legacy and the convenience of having a single billing for all their coverages.

Listed below is a list of captive insurance agents in Richmond that are able to give comparison quotes.

  • Allstate Insurance – 226 E Main St – Richmond, KY 40475 – (859) 626-3848
  • State Farm Insurance – 213 Saint George St – Richmond, KY 40475 – (859) 623-6426
  • Shelter Insurance – 112 Big Hill Ave – Richmond, KY 40475 – (859) 624-0883
  • Farm Bureau Insurance – 300 Highland Park Dr – Richmond, KY 40475 – (859) 623-5254

For a complete listing of captive agents in Richmond, please view this page.

Selecting an insurance agent should depend on more than just the bottom line cost. Agents should be asked these questions:

  • What insurance companies do they work with?
  • Do the companies they represent have a solid financial rating?
  • Does the agency provide any after hours assistance?
  • Do you have coverage for a rental car if your vehicle is in the repair shop?
  • Is vehicle mileage a factor when determining depreciation for repairs?
  • Are they able to influence company decisions when a claim is filed?
  • Does the agency have a good rating with the Better Business Bureau?
  • What insurance company do they write the most business with?

Once you have positive responses for all questions you ask and a good coverage price, you have narrowed it down to an insurance agent that can properly service your auto insurance policy.

Understand what determines the rate you pay

Consumers need to have an understanding of the different types of things that help determine the price you pay for auto insurance. When you know what positively or negatively impacts premium levels allows you to make educated decisions that could result in better auto insurance rates.

The following are some of the items companies use to determine premiums.

  • Your spouse saves you money – Getting married helps lower the price when buying auto insurance. Having a spouse translates into being more mature and it’s proven that married drivers get in fewer accidents.
  • Safer occupants lowers premiums – Vehicles with high crash test scores tend to have better insurance rates. Safe vehicles reduce injuries and any reduction in injury severity means lower claim amounts and more competitive rates for policyholders.
  • How many coverages with the same company – Some auto insurance companies give discounts to insureds who have multiple policies with them, otherwise known as a multi-policy discount. Even if you’re getting this discount it’s in your best interest to shop around to make sure you are getting the best deal. Drivers may still find a better deal by insuring with multiple companies.
  • Rate your vehicle for proper use – The higher the mileage driven every year the more you will pay for auto insurance. The majority of insurers rate vehicles determined by how the vehicle is used. Autos not used for work or commuting receive lower rates than those used for commuting. Ask your agent if your auto insurance declarations sheet is showing the correct usage for each vehicle, because improper ratings can cost you money.
  • High performance equals high price – The performance level of the vehicle you are insuring makes a big difference in determining your rates. The lowest rates tend to be for low performance passenger cars, but there are many factors that impact the final cost.
  • Never go without insurance – Driving with no insurance is against the law and auto insurance companies will penalize you for letting your insurance expire. Not only will rates go up, failure to provide proof of insurance can result in a license revocation or jail time.
  • Poor driving leads to higher costs – Even one moving violation can bump up the cost twenty percent or more. Drivers who don’t get tickets tend to pay less for car insurance compared to drivers with tickets. If you have flagrant violations like DUI or reckless driving may find they need to file a SR-22 with the DMV in their state in order to keep their license.

Is there deception in advertising?

Consumers can’t ignore all the ads for car insurance savings from companies such as 21st Century, Allstate and State Farm. They all seem to have a common claim that you’ll save big if you move your policy.

How does each company make the same claim? It’s all in the numbers.

All companies have a certain “appetite” for the driver that is profitable for them. For instance, a preferred risk might be profiled as between the ages of 40 and 55, has no driving citations, and chooses high deductibles. A customer getting a price quote that hits that “sweet spot” is entitled to the best price and therefore will pay quite a bit less when switching companies.

Kentucky insurance ad

Potential insureds who don’t meet this ideal profile must pay higher prices and ends up with the driver buying from a lower-cost company. Company advertisements say “customers who switch” not “everyone that quotes” save money. That’s why companies can truthfully make those claims.

This illustrates why it’s extremely important to get quotes from several different companies. It is impossible to predict which company will have the lowest rates.

Shop smart and save

As you prepare to switch companies, do not buy poor coverage just to save money. In many instances, an insured cut uninsured motorist or liability limits and learned later they didn’t have enough coverage. The proper strategy is to find the BEST coverage at an affordable rate.

We just showed you many ideas to get a better price on auto insurance. The key thing to remember is the more rate quotes you have, the higher the chance of saving money. You may even discover the best price on auto insurance is with some of the lesser-known companies.

Cost effective auto insurance can be purchased 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 most of the time these regional insurance providers sell through independent agents.

Additional Kentucky consumer information

Much more information about auto insurance in Kentucky is available on the Kentucky Department of Insurance website through this link. Visitors are able to get help finding coverage, find out which companies have the most complaints, view a list of available companies, and read state legal mandates and laws.