Cheap Auto Insurance Quotes in Richmond, KY (2021)

Browse. Compare. Discover. Let Insurify find the best car insurance deals for you in The Bluegrass State.

Loading...

Compare vs Insurify

loading

As we work together to slow the spread of COVID-19, state insurance commissions and insurance providers are constantly changing regulations and practices surrounding monthly payments, claim payouts, and more. To stay up to date with the latest on auto insurance reimbursements in your area, be sure to check with your state’s insurance commission and your current auto insurance provider.

If your driving habits have changed due to COVID-19, find a new, cheaper, ready-to-buy auto insurance policy on Insurify by comparing dozens of quotes at once.

It’s entirely possible to get around on foot in downtown Richmond to run errands, and about 6 percent of residents walk to get to work. But far more residents rely on their cars. If you commute by car in Richmond, you’ll need an insurance policy with plenty of coverage. Fortunately, car insurance in Richmond is fairly affordable, and a comparison tool like Insurify can get you an even lower than average rate.

Car Insurance in Richmond, KY

The average cost of Kentucky car insurance will vary from city to city and between insurance companies. Insurify analyzed the latest insurance rates in Richmond, KY to find you the cheapest quotes in the area.

Loading Chart

Cheapest Car Insurance in Richmond, KY

Here are the cheapest carriers in Richmond for the following user profile: a single, 30 year old male with a clean driving record who drives a 2012 Honda Accord and pays a $1,000 deductible for the state’s minimum liability insurance.

Best Car Insurance in Richmond, KY

The Insurify Composite Score is calculated by analyzing multiple factors that indicate the quality, reliability, and health of an insurance company. Inputs to the score include financial strength ratings from A.M. Best, Standard & Poor’s, Moody’s, and Fitch; J.D. Power ratings, Consumer Reports customer satisfaction surveys, mobile app reviews, and user-generated carrier reviews. The following are the top rated carriers that offer car insurance in Richmond. For the complete list, see Insurify's best car insurance companies.

Average Car Insurance Cost

Loading Chart

Click here to learn about car insurance quotes and save on your current policy.

Richmond, KY Driving Facts

Minimum Car Insurance Requirements in KY

All motor vehicles operated or parked on Kentucky roadways are required to be insured. Proof of insurance must be carried in your car at all times and must available when:

  • Requested by law enforcement
  • Renewing vehicle registration
  • The vehicle is involved in a car accident

The minimum liability car insurance requirements for private passenger vehicles in Kentucky are as follows:

  • $25,000 per person/$50,000 per accident for Bodily Injury (BI)

Bodily injury liability coverage protects drivers if their car is involved in an accident that harms another individual. The minimum limits required by Kentucky state law are $25,000 for the death or injury of a single victim as a result of a car accident and $50,000 for the deaths or injuries of multiple victims. Insurance companies list this type of coverage as 25/50, referring to the dollar limitations of each minimum. In the case of an accident, liability coverage can aid perpetrators with costs involved in a legal proceeding as a result of a crash. Bodily injury coverage is part of the minimum coverage required by Kentucky law.

  • $25,000/accident for Property Damage (PD)

The state minimum amount of property damage liability coverage required in the state of Kentucky is $25,000. If an insured driver is determined to be at fault and held liable in a motor vehicle accident, this coverage pays for damage repair to another individual’s property. Property damage coverage will also pay for legal costs if an insured driver is involved in a lawsuit following an accident.

  • $10,000/person Personal Injury Protection (PIP)

Personal Injury Protection (PIP) provides coverage for medical costs that drivers and their passengers may face after an accident. PIP coverage protects drivers even if they are found at-fault. Medical expenses are covered by this type of protection, and a minimum of $10,000 is required for minimum coverage in Kentucky. 

kentucky

Richmond Car Insurance Rates by Driver Age

Teenagers will have a tough time paying for car insurance even if they’re clocking as many hours as possible at their part-time jobs. Kentuckians can expect car insurance rates to generally go down as they add decades of experience behind the wheel. Moving from the teenage years to the 20s brings an immediate $200 price cut. In Richmond, everyone skates below the state average of $261 except the teens, of course. People in their 50s see the best deal at $169 per month, a price that’s $275 cheaper than what the youngest shell out.

Driver's AgeAvg. Monthly Cost
teens$465
20s$231
30s$200
40s$180
50s$170
60s$186
70s$192
80sN/A
Driving HistoryAvg. Monthly Cost
No Violation$201
Speeding Ticket$236
At-Fault Accident$257
Failure to Stop for Red Light / Stop SignN/A

Richmond Car Insurance Rates by Driving and Accident History

In the Bluegrass State, safe driving is also financially savvy driving. The insurance companies happen to agree and grant their “good driver” and “accident-free” discounts to people with clean records. Defensive driving helps motorists avoid accidents and prevents a $50 per month price bump. Drivers with clean records also enjoy a price that’s $60 below the state average, a $720 per year difference. If a driver has a less-than-perfect driving record, it’s not all sad news. After three years, accidents and tickets stop affecting monthly premiums.

Richmond Car Insurance Rates by Credit Tier

Like all but a handful of states, Kentucky lets insurance companies factor in credit when setting rates. Many motorists are confused at just how their credit relates to their ability to drive. But the insurance companies and their data argue otherwise. That said, why would someone with average or good credit pay less than someone with excellent credit? Drivers with better credit can afford to finance costlier cars and may need higher coverage levels to protect their assets. Either way, a move from poor to average credit saves $17 per month or over $200 per year.

Credit TieAvg. Monthly Cost
Excellent$226
Good$221
Average$213
Poor$231

Richmond, Kentucky DMV Information

The Kentucky Transportation Cabinet in Frankfort is your one-stop shop for all services, but you can also find outposts to take care of many of your needs right in Richmond. Richmond has a REAL ID office, a county clerk office, a circuit clerk office, and a driver licensing regional field office.

Public Transportation in Richmond, Kentucky

About 79 percent of workers in Richmond drive to work and an additional 9 percent carpool, commuting an average of 19 minutes to get there. The average household has two vehicles. Richmond only has two buses operating in the city, which is probably why less than 0.3 percent of Richmond workers use public transportation to get to their jobs. You can call a taxi or get Uber or Lyft service if you need it, but the best permanent solution for most workers is to own an insured vehicle.

Conclusion: How to get the best and cheapest car insurance in Richmond, Kentucky

If you’re caught driving without insurance in Kentucky, you could face an initial fine of up to $1,000 and up to 90 days in jail. And your finances could be destroyed if you got into an accident without insurance. If you live in Richmond and drive a car, having an insurance policy is essential.

Don’t be one of the estimated 11.5 percent of drivers in Kentucky on the road without insurance. Since Kentucky is a “choice no-fault” state, you could be on the hook for injuries even in an accident you didn’t cause. It’s not worth the risk of driving without insurance, especially when you can get an affordable rate through Insurify.

Insurify Rankings

Using a proprietary dataset of over 1.6 million car insurance shopper applications, the data scientists at Insurify have run various studies on driver behavior across geographical locations, age ranges, motor vehicle registration, and other variables all related to auto insurance coverage.

We’ve been able to determine the speediest cities in the nation, the most popular cars among age groups, and the occupations with the worst drivers, among other insightful reports. We’ve also launched annual awards campaigns to congratulate the communities across the country who have excelled in environmentally friendly initiatives, educational attainment, and other areas.

Here's how Richmond stacks up for the state of Kentucky:

toyota
Toyota Camry
Most Popular Car in
Richmond, KY
suspended licenses
#21
Cities with Most
Suspended Licenses Rank

FAQs - Richmond, KY Car Insurance

How much does car insurance in Richmond cost?

The average premium in Richmond is $200 per month, which is affordable compared to the national average. But you may qualify for discounts that could get you a lower rate. The easiest way to check is to use Insurify to compare customized premiums between different insurance providers.

Will my credit score affect my premium in Kentucky?

As in most states, insurers in Kentucky evaluate your credit when determining your premium amount. But every insurance company will weigh your information a little differently. If you have bad credit, it’s especially important to compare rates across insurers. Keep in mind that while insurers can use your credit score to determine your rate, they can’t deny you coverage solely based on your credit score.

Is Kentucky a no-fault state for car insurance?

Kentucky is considered a “choice no-fault” state. That means that unless you opt out of the no-fault system, you’ll file a claim with your insurance company for injuries, regardless of who is at fault. The only way to sue the driver who caused the accident is if your injuries meet certain thresholds. If you choose to opt out, you must do so in writing, and the other drivers will then be able to sue you as well.