Average car insurance cost in Covington, KY

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Based on an analysis by Insure.com, the typical car insurance expense in Covington, Kentucky is $2,038 annually. Furthermore, car insurance premiums in Covington are $190 less than compared to the state average in Kentucky and $143 more than the national average.

Car insurance premiums differ widely depending on the location, city demographics, population density, average resident age, accident rates, and theft and vandalism.

This article looks at the most affordable car insurance companies in Covington, the average car insurance rates by age and gender, and the costs in Covington based on coverage limits.

Whether you’re a new or experienced driver, this article will guide you in finding the most affordable car insurance in Covington. Keep reading to learn more.

Cheap car insurance companies in Covington

Auto-Owners provides the best value for car insurance in Covington with coverage limits of 100/300/100, costing $1,449 annually.

A close second is Travelers, which offers car insurance at $1,451 per year.

Read about the best car insurance companies.

Average car insurance cost in Covington by coverage limits

The average car insurance rates in Covington by coverage type are as follows:

• State minimum coverage: $553 per year (limits of 25/50/25)
• Liability-only coverage: $744 per year (limits of 50/100/50)
• Full coverage: $2,038 per year (limits of 100/300/100)
• Non-owners coverage: $326 per year

In many states, drivers are legally required to maintain state minimum coverage. However, these requirements vary by state. However, the state minimum coverage does not protect vehicles listed on your policy in an at-fault accident.

It’s advisable to choose full coverage to avoid the risk of inadequate coverage and out-of-pocket expenses. You can also choose non-owners coverage if you often borrow or rent vehicles and don’t own one yourself.

Average car insurance rates by gender in Covington

The average car insurance per year for female drivers in Covington, Kentucky, is $2,020.

Whereas the yearly average car insurance rate for male drivers is $2,057, which is $37 more than what female drivers pay.

According to the Insurance Information Institute, women are considered to be safer drivers than men, and statistics have proved this. They often enjoy lower auto insurance premiums due to their lower incidence of severe accidents compared to men.

Read more on how gender affects car insurance rates.

Average car insurance rates by age in Covington

In Covington, car insurance rates are highest for teens, averaging $6,146 per year or $512 per month. According to the Insurance Information Institute, these higher rates for 16- to 19-year-olds are due to their increased likelihood of road accidents due to their lack of driving experience.

Specific teen driving laws have been implemented to help them become better drivers. Additionally, parents can lower teen insurance rates by adding them to their existing auto insurance policy.

As teens grow older and build a positive driving history, their car insurance rates decrease. Young adults usually pay $3,177 annually for their car insurance, which is $2,969 less than what teens pay for their coverage.

In Covington, adult drivers pay an average of $2,049 per year for car insurance, while senior drivers pay $2,059 annually.

According to the Insurance Information Institute, rates for adults and seniors are significantly lower than for teens and young adults, as they are more likely to obey speed limits and follow road rules.

Read more on auto insurance for seniors.

The table below lists the average annual rates for drivers of different age groups:

Car insurance rate trends in Covington

If we look at the car insurance rates trends in Covington, Kentucky, it was on an upward swing from 2022 to 2023. From 2022 to 2023, the rates increase overall by 30%, or $472.

The table below shows the trend for last four years:

Conclusion

In conclusion, Covington’s car insurance rates are lower than the average insurance rates in Kentucky. Drivers in Covington can find affordable car insurance options by shopping around and taking advantage of available discounts. Moreover, many car insurance companies offer discounts for customers who purchase multiple policies through the same company.

Sources

• Insurance Information Institute. “What determines the price of my auto insurance policy,” Accessed September 2024.
• Insurance Information Institute. “Auto insurance for teen drivers,” Accessed September 2024.
• Insurance Information Institute. “Senior driving safety and tips,” Accessed September 2024.

Methodology

Insure.com team worked with Quadrant Information Service to get car insurance data. To determine the average premiums, our team of data analysts and expert editors have analyzed 53,409,632 insurance quotes from 170 insurance companies across 34,588 ZIP codes.

The insurance rates are based on a sample profile of a 40-year-old male and female driver with a clean driving record and a good insurance score. Quotes premiums are for a full coverage policy with limits:

• $100,000 bodily injury per person
• $300,000 bodily injury per accident
• $100,000 property damage per accident
• $500 comprehensive and collision deductible

The quoted insurance rates are for comparison purposes, and your individual rates may vary.

Prachi Singh

Contributing Researcher

 

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Prachi is an insurance writer with a master’s degree in business administration. Through her writing, she hopes to help readers make smart and informed decisions about their finances. She loves to travel and write poetry.