Learn How to Buy Richmond, KY Car Insurance Like a Pro

No one likes having to buy car insurance, especially knowing they are paying too much. Since consumers have many choices of insurance companies, it can be challenging to choose the most affordable car insurance company.

Smart Consumers Save More

It’s important that you understand some of the elements that play a part in calculating car insurance rates. When you know what positively or negatively determines base rates empowers consumers to make smart changes that can help you get lower car insurance prices.

Shown below are a partial list of the pieces used by your company to calculate your rates.

  • Drive less and save money – The higher the mileage driven each year the higher your rates will be. The majority of insurers price each vehicle’s coverage based on their usage. Vehicles not used for work or commuting get more affordable rates as compared to vehicles used primarily for driving to work. Ask your agent if your car insurance declarations sheet properly reflects the correct usage for each vehicle.
  • The type of vehicle makes a difference – The performance of the vehicle you own makes a huge difference in your rates. Lower performance four cylinder passenger vehicles generally have the cheapest insurance rates, but there are many factors that impact the final cost.
  • Do you know your deductibles? – Physical damage deductibles define the amount you are willing to pay out-of-pocket before your car insurance pays a claim. Physical damage insurance, otherwise known as comp (or other than collision) and collision, covers damage that occurs to your car. Some instances where coverage would apply could be running into the backend of another car, damage from fire, and burglary. The more you are required to pay out-of-pocket, the less your car insurance will be.
  • How credit affects car insurance rates – Credit score is a huge factor in determining your rates. Drivers with high credit scores tend to file fewer claims and have better driving records than those with poor credit. If your credit is low, you could save money insuring your by spending a little time repairing your credit.

How to Compare Car Insurance in Richmond

Most major insurance companies allow you to get coverage price quotes on their websites. Getting online rates is quite simple as you just type in into a form. Once you submit the form, the system collects your driving record and credit report and provides a quote based on these and other factors. This simplifies rate comparisons, but the time it takes to visit many different websites and complete many quote forms can get tiresome after awhile. Unfortunately, it is important to have as many quotes as possible in order to get better car insurance pricing.

A less time-consuming method to lower your car insurance bill utilizes a single form to obtain quotes from many companies. The form is fast, eliminates form submissions, and makes price shopping online much easier. Immediately after you send the form, it gets priced and you are able to buy your choice of the pricing results.

If a lower price is quoted, you simply finish the application and buy the new coverage. The whole process takes just a few minutes to complete and could lower your rates considerably.

To quickly find out what other companies charge, click here to open in a new tab and fill out the form. If you have your current policy handy, we recommend you complete the form with deductibles and limits exactly as shown on your declarations page. Doing this guarantees you will be getting rate comparison quotes using the exact same coverages.

Advertising myths

Consumers in Kentucky can’t ignore all the ads that promise big savings from the likes of Allstate and Progressive. They all seem to say the same thing that you can save after switching your coverage to them.

But how can every company claim to save you money?

All companies have a preferred profile for the right customer they prefer to insure. For example, a desirable insured could possibly be between the ages of 40 and 55, is a homeowner, and chooses high deductibles. A customer who matches those parameters will qualify for the lowest rates and is almost guaranteed to save when switching.

Potential customers who fall outside this ideal profile will be charged higher rates which usually ends up with business not being written. The ads state “drivers who switch” not “everybody who quotes” save that much money. This is how insurance companies can confidently make those claims.

That is why it’s extremely important to compare many company’s rates. It is impossible to predict which car insurance company will provide you with the cheapest rates.price insurance in Richmond Kentucky

Do you qualify for discounts?

Insuring your vehicles can cost a lot, but you may find discounts that many people don’t even know exist. Most are applied at the time you complete a quote, but a few need to be specifically requested before you will receive the discount. If you aren’t receiving every discount you deserve, you are throwing money away.

  • Military Discounts – Having a deployed family member may qualify for rate reductions.
  • Homeowners Savings – Simply owning a home may trigger a car insurance policy discount because owning a home is proof that your finances are in order.
  • Multi-car Discount – Insuring more than one vehicle on the same car insurance policy could earn a price break for each car.
  • Federal Government Employee – Simply working for the federal government can earn a discount up to 10% with certain companies.
  • Student in College – Children who attend school more than 100 miles from home without a vehicle on campus may qualify for this discount.
  • Drivers Education – Have your child take driver’s ed class in high school.

Consumers should know that some of the credits will not apply to the overall cost of the policy. Some only apply to specific coverage prices like liability and collision coverage. So when the math indicates having all the discounts means you get insurance for free, it just doesn’t work that way. But any discount will help reduce your overall premium however.

To choose insurance companies with discount car insurance rates in Kentucky, click here to view.

Won’t my local insurance agent miss me?

A small number of people prefer to sit down with an agent. Educated insurance agents are trained to spot inefficiencies and help file insurance claims. One of the great benefits of comparing rates online is the fact that you can find better rates and still choose a local agent. And providing support for local businesses is definitely important in Richmond.

For easy comparison, once you complete this quick form, your information is immediately sent to participating agents in Richmond who will return price quotes for your insurance coverage. You won’t need to leave your house since price quotes are sent immediately to your email address. How cool is that?!

Multiple types of insurance agents in Richmond

When finding local Richmond agents, you must know there are a couple different types of agents that you can select. Richmond agents are classified as either captive or independent. Both properly insure your vehicles, but it’s good to learn the differences since it may influence the selection process.

Independent Insurance Agents

Independent agencies are not employed by any specific company so they can insure your vehicles with any number of different companies depending on which coverage is best. If you are not satisfied with one company, the business is moved internally and you won’t have to switch agencies.

When comparing rates, it’s a good idea to contact at a minimum one independent agency to have the most options to choose from.

Listed below is a short list of independent agencies in Richmond who can help you get competitive price quotes.

Rowe Insurance Inc – 201 Aqueduct Dr # B13 – Richmond, KY 40475 – (859) 626-7888
Cole Insurance – 312 Highland Park Dr – Richmond, KY 40475 – (859) 623-4309
Direct General Ins Agency – 527 Leighway Dr # A – Richmond, KY 40475 – (859) 625-1611

Captive Insurance Agents

This type of agents write business for a single company and some examples include AAA, Allstate, State Farm, Farmers Insurance or Liberty Mutual. They are unable to place coverage with different providers so always compare other rates. Captives are usually quite knowledgeable on their company’s products and that can be a competitive advantage.

Below are captive insurance agents in Richmond that are able to give price quotes.

Farm Bureau Insurance – 300 Highland Park Dr – Richmond, KY 40475 – (859) 623-5254
Jerry Goble State Farm Agent – 244 Boggs Ln – Richmond, KY 40475 – (859) 623-0350
Shelter Insurance – 2150 Lexington Rd # D1 – Richmond, KY 40475 – (859) 624-0031
Allstate Insurance – 226 E Main St – Richmond, KY 40475 – (859) 626-3848

price insurance in Richmond Kentucky

For a complete listing of Richmond captive insurance agents, please go to this site.

Picking a car insurance agent should depend on more than just the price. Any agent should be forthright in answering these questions:

  • Will your rates increase after a single accident?
  • Does the agency have a good rating with the Better Business Bureau?
  • Is vehicle mileage a factor when determining depreciation for repairs?
  • Who are their largest clients?
  • How many years of experience in personal lines insurance coverages do they have?
  • Are they able to influence company decisions when a claim is filed?
  • What are the financial ratings for the companies they represent?
  • Which company do they place the most coverage with?

Once you have received satisfactory answers and a low price estimate, most likely you have located an insurance agent that is a good match to insure your vehicles.

Everyone needs different coverages

When it comes to buying proper insurance coverage, there is no perfect coverage plan. Everyone’s needs are different so this has to be addressed. Here are some questions about coverages that may help highlight if you might need an agent’s assistance.

  • Is Kentucky a no-fault state?
  • What is the difference between comprehensive and collision coverage?
  • Do I need added coverage for expensive stereo equipment?
  • Do I need roadside assistance coverage?
  • Are my friends covered when driving my vehicle?
  • Is my business laptop covered if it gets stolen from my vehicle?
  • Does my vehicle qualify for pleasure use?
  • Can I rate high risk drivers on liability-only vehicles?
  • Am I covered by my employer’s commercial auto policy when driving my personal car for business?

If you can’t answer these questions, you may need to chat with a licensed agent. To find lower rates from a local agent, simply complete this short form or you can also visit this page to select a carrier It’s fast, doesn’t cost anything and you can get the answers you need.

Much more information about car insurance in Kentucky is located on the website for the Kentucky Department of Insurance. Click here for link. Visitors are able to read consumer alerts, file complaints about a company, and read state legal mandates and laws.

Compare but don’t skimp

Low-cost car insurance can be sourced both online and with local Richmond insurance agents, so compare prices from both to have the best selection. Some insurance companies do not offer the ability to get a quote online and usually these small, regional companies provide coverage only through local independent agents.

We just presented a lot of ways to reduce car insurance prices online. It’s most important to understand that the more rate comparisons you have, the better chance you’ll have of finding lower rates. You may even discover the most savings is with the least-expected company. Regional companies may often insure only within specific states and give getter rates than their larger competitors like Allstate, GEICO and Progressive.