Cheapest Insurance Quotes for a Toyota Corolla in Kentucky

Cheapest Insurance Quotes for a Toyota Corolla in Kentucky

Whether or not you can find the cheapest car insurance for a Toyota Corolla in Kentucky is dependent upon a large number of factors like how old the Corolla is, your current insurance company, and physical damage deductibles. Kentucky drivers pay on average $970 each year to insure their Corolla, but that amount is a ballpark figure rating a 40-year-old single male driver that includes full physical damage coverage and $500 physical damage deductibles.

There is a really good chance that you are not 40 years old and maybe not even male, you might be married instead of single, and you don’t want the same coverages and limits as the example. Just a minor change in rating factors can induce significant differences in the cost of insuring your Corolla.

There is no “one size fits all” policy, so the best way to quote cheap insurance prices for your Toyota is to make a habit of comparing prices at least once a year. Compare rate quotes now and you can get prices from some of the most affordable companies in Kentucky.

Find Cheaper Toyota Corolla Insurance

Your vehicle’s trim level will influence the cost of insurance, so the price you pay to insure a Corolla LE model will cost $24 less than the cost to insure the more expensive Corolla XRS trim level, as shown in the chart below.

Toyota Corolla Insurance Rates in Kentucky
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Corolla LE $202 $464 $396 $24 $118 $1,204 $100
Corolla S $202 $464 $396 $24 $118 $1,204 $100
Corolla XLE $202 $464 $396 $24 $118 $1,204 $100
Corolla XRS $226 $464 $396 $24 $118 $1,228 $102
Get Your Own Custom Quote Go

Data variables include single male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Kentucky minimum liability limits. Discounts applied include safe-driver, multi-policy, claim-free, multi-vehicle, and homeowner. Price information does not factor in specific location which can affect coverage prices greatly.

Choosing the top insurer can be a challenge considering how many different companies sell coverage in Kentucky. The company information in the next section can help you select which insurers you want to consider when trying to find cheaper insurance for a Toyota Corolla. The ratings below are for large, nationwide insurance companies, so smaller companies that only insure vehicles in Kentucky will not be included in this list.

Top 10 Large Auto Insurance Providers in Kentucky Ranked by A.M. Best Rating

  1. Travelers – A++
  2. USAA – A++
  3. GEICO – A++
  4. State Farm – A++
  5. Erie Insurance – A+
  6. Esurance – A+
  7. Progressive – A+
  8. Nationwide – A+
  9. The Hartford – A+
  10. Allstate – A+

Top 10 Large Auto Insurance Providers in Kentucky Ranked by Customer Satisfaction

  1. USAA – 91%
  2. AAA Insurance – 90%
  3. Esurance – 90%
  4. Nationwide – 89%
  5. Travelers – 88%
  6. Progressive – 88%
  7. Safeco Insurance – 88%
  8. State Farm – 88%
  9. Allstate – 88%
  10. The Hartford – 87%

Top Companies for Toyota Corolla Insurance in Kentucky

Full coverage rates vs. liability-only in Kentucky

Finding the cheapest insurance for a Toyota Corolla in Kentucky should be important to most drivers, and one way to buy cheap insurance is to not buy comprehensive and collision coverage. The information below illustrates the comparison of insurance costs with full physical damage coverage compared to only buying liability only. The price estimates are based on no claims or driving violations, $100 deductibles, single status, and no discounts are taken into consideration.

If all age groups are averaged, physical damage coverage costs an additional $2,390 per year more than just buying liability only. That touches on the question if it’s worth it to buy full coverage. There is no written rule of when to exclude physical damage coverage, but there is a broad guideline. If the yearly cost of full coverage is 10% or more of replacement cost minus your deductible, then you might consider buying liability only.

The importance of comparing Corolla insurance rates

Kentucky car insurance rates are determined by lots of factors that control the price of your policy. Simply getting older, marrying your spouse, or getting a reckless driving citation can produce rate changes that can now make some companies cheaper than before.

Not only may your situation change, but companies change the rates they charge in Kentucky every year or even multiple times each year to adjust for heavy claims or excess profits. A period of higher than normal claims can cause price increases, while a better loss history can result in more affordable Corolla insurance rates.

The graph below shows rates for the cheapest car insurance in Kentucky for a 35-year-old male driver with no violations or accidents, and good credit. Based on his current situation, Cincinnati Insurance offers the best car insurance rates in Kentucky at $1,126 each year. This is $1,017 less than the average rate paid by Kentucky drivers of $2,143. Kentucky Farm Bureau, USAA, Auto-Owners, and Grange Mutual also make the list of the top five cheapest Kentucky auto insurance companies.

Now let’s give the driver from above a claim surcharge, bad credit, and a couple of points charged on his driving record. Due to the fact that every insurance company has their own formula for establishing rates, getting updated rate quotes most likely will result in a different set of cheap Kentucky auto insurance companies as shown below.

Travelers now has the lowest price in Kentucky with Kentucky Farm Bureau, USAA, State Farm, and Westfield now rounding out the top five. This example illustrates why Kentucky drivers need to shop around to get the cheapest auto insurance quotes for a Toyota Corolla. Auto insurance prices are made up of many different factors and change frequently, so the best company the last time you shopped around may now not even be in the top five.

Find the cheapest insurance for a Toyota Corolla in Kentucky

The list below summarizes some of the better money-saving solutions that can help drivers get the cheapest coverage.

  • Multi-policy discounts save money
  • Prevent rate increases by staying accident-free
  • Drive a car with a high safety rating
  • Increase your credit rating
  • Do not pay for comprehensive and collision coverage on older vehicles
  • Keep rates low by shopping around frequently

That last idea is highly valuable, as was affirmed in the prior article. Prices charged by companies fluctuate considerably, so don’t be afraid to buy a policy from a new company if you find a better deal.

Brand loyalty is not necessarily bad, but it’s not recommended if that loyalty results in overpaying a small fortune year after year. Take a couple minutes and compare prices and find cheaper auto insurance for a Toyota Corolla.

Who has the cheapest Toyota Corolla insurance quotes?

You have a lot of ways to purchase car insurance in Kentucky, but the most popular are either through an exclusive agency such as Liberty Mutual or Allstate, an independent agent, or direct either online or via phone.

You can use whichever you prefer, but it’s important to understand the differences in how they provide price quotes.

Independent insurance agents have contracts with many companies and can compare coverage rates with all of them. These agents do not work for one specific company and can give you more rate choices, which can give you improved chances of finding a lower rate. If they quote lower rates, they can switch companies in-house and you won’t have to switch agencies.

An exclusive ageny is limited to one company like a Liberty Mutual or State Farm agent. These agents normally cannot quote prices from more than just one company, so if rates are not competitive, they cannot shop around.

Car insurance from a direct company means you bypass local insurance agents and instead shop direct either online or via phone. This option can be a good choice for drivers who have lower risk management needs and understand the exclusions of a policy.

So which one of the three ways works best to buy the cheapest insurance for a Toyota Corolla in Kentucky? It would be premature to say shopping direct saves money because there is no agent involved, but unfortunately, it’s not that cut and dried. We could also say that an independent agent saves the most money due to having more companies to select from, but again, that’s not accurate. And often times, exclusive agencies have price quotes that are the lowest in Kentucky.

Since car insurance companies use so many rating factors, the best way to buy the cheapest policy is to get rate quotes and compare. Set aside the time to get prices from all three to give yourself the best selection. For a list of companies with some of the cheapest Kentucky car insurance rates, click here to view.