Average car insurance cost in Owensboro, KY

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Based on an analysis by Insure.com, the typical car insurance expense in Owensboro, Kentucky is $1,863 annually. Furthermore, car insurance premiums in Owensboro are $365 less than compared to the state average in Kentucky and $32 less 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 Owensboro, the average car insurance rates by age and gender, and the costs in Owensboro 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 Owensboro. Keep reading to learn more.

Cheap car insurance companies in Owensboro

Travelers provides the best value for car insurance in Owensboro with coverage limits of 100/300/100, costing $1,340 annually.

A close second is Auto-Owners, which offers car insurance at $1,386 per year.

Read about the best car insurance companies.

Average car insurance cost in Owensboro by coverage limits

In Owensboro, the average car insurance rates based on coverage types are as follows:

• State minimum coverage: $543 per year (limits are 25/50/25)
• Liability only coverage: $698 per year (limits are 50/100/50)
• Full coverage: $1,863 per year (limits are 100/300/100)
• Non-owners coverage: $339 per year

In most states, drivers must have the state minimum coverage to drive legally, but these vary by state. However, state minimum coverage does not cover any vehicles listed on your policy in an at-fault accident.

To avoid compromising on the coverage and pay out-of-pocket expenses, it is better to have full coverage or non-owner coverage if you don’t own a car but borrow or rent one frequently.

Average car insurance rates by gender in Owensboro

The average car insurance rate for a female driver in Owensboro, Kentucky, is $1,844 per year.

While the rate for a male driver is $1,883 per year, which is $39 more than what female drivers pay, according to a rate analysis by Insure.com.

Women are considered to be safer drivers than men, and statistics have proved this, according to the Insurance Information Institute. They often pay less for auto insurance because of their lower rate of severe accidents than men.

Read more on how gender affects car insurance rates.

Average car insurance rates by age in Owensboro

In Owensboro, car insurance rates are the highest for teens, at $6,081 per year or $507 per month. The rates are higher for teenagers (16- to 19-year-olds) as they are more prone to road accidents due to their lack of experience on the road, according to the Insurance Information Institute. There are driving laws for teens to help them drive better. Also, teen insurance rates can be lowered by adding teens to a parent’s auto insurance policy.

Car insurance rates are bound to decrease as teens grow older and earn a good driving record. Young adults pay $3,103 per year for their car insurance which is $2,978 less than what the teens pay for their insurance policy.

The car insurance rates in Owensboro for adult and senior drivers are $1,872 and $1,863 per year respectively.

The car insurance rates for adults and seniors are lower than those for teens and young adults. “This is because they are more likely to obey the speed limits and follow the rules of the road,” says the Insurance Information Institute.

Read more on auto insurance for seniors.

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

Car insurance rate trends in Owensboro

If we look at the car insurance rates trends in Owensboro, Kentucky, it was on an upward swing from 2022 to 2023. From 2022 to 2023, the rates increase overall by 30%, or $428.

The table below shows the trend for last four years:

Conclusion

Car insurance rates in Owensboro are lower than the average rates in Kentucky. Drivers in Owensboro can secure affordable car insurance by shopping around and utilizing available discounts. Additionally, many insurance companies offer bundling discounts for customers who purchase multiple policies from the same provider.

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.