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Cheap Auto Insurance Quotes in Richmond, KY (May 2022)

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Tanveen Vohra

By: Tanveen Vohra

Edited by Olivia Oksenhorn | Reviewed by licensed insurance agent, Amber Benka

Last Updated February 4, 2022

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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.

Quick Facts

  • The average cost of car insurance in Richmond is $218 per month, or $2616 annually.
  • Car insurance in Richmond is $17 less than the average cost of car insurance in Kentucky.
  • The cheapest car insurance provider in Richmond on average is SafeAuto, but you should always compare quotes to find your best personal 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.

Quotes by Top Companies

Progressive
$83
State Farm
$162
Travelers
$172
The General
$218
Liberty Mutual
$255

Cheapest Car Insurance in Richmond, KY

The cost of car insurance can vary depending on the insurance provider. That’s because every insurance provider values information like your driving history and your credit score a little bit differently. Although the following car insurance companies offer the cheapest auto insurance premiums on average, it’s always important to compare quotes. Use Insurify to find your best rate today!
Insurance Provider in RichmondQuotes
Progressive$83 /mo
State Farm$162 /mo
Travelers$172 /mo
The General$218 /mo
Liberty Mutual$255 /mo

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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 company reviews. The following are the top rated companies that offer car insurance in Richmond. For the complete list, see Insurify's best car insurance companies.
Best CompaniesScoreQuotes
American Family89$236 /mo
Liberty Mutual82$243 /mo
Travelers80$158 /mo

Average Car Insurance Cost

Kentucky Cities
Louisville$273/mo
Bowling Green$155/mo
Owensboro$137/mo
Covington$148/mo
Richmond$200/mo
Kentucky$183/mo
Owensboro
$137
Covington
$148
Bowling Green
$155
Average for KY
$183
Richmond
$200
Louisville
$273
Click here to learn about car insurance quotes and save on your current policy.

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. 

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

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.

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

Find local Richmond agents

  • R. J. Roberts, Inc.

    527 W Main St,
    Richmond, KY 40475
  • Linville Insurance Agency

    1060 Center Drive,
    Richmond, KY 40475
  • Reynolds Insurance Agency, Inc.

    100 Bayview Drive - Suite 1,
    Richmond, KY 40475
  • Maupin Insurance Agency

    1509 1/2 Lexington Road,
    Richmond, KY 40476-0720
  • MGM Insurance Services: Allstate Insurance

    961 Four Mile Rd,
    Richmond, KY 40475
  • Madison Insurance Agency

    310 Geri Ln,
    Richmond, KY 40475
  • The Richmond Insurance Group

    2130 Lexington Rd suite e,
    Richmond, KY 40475
  • Cole Insurance

    310 High Land Park Dr,
    Richmond, KY 40475
  • Kentucky Farm Bureau Insurance Madison County - Richmond

    300 High Land Park Dr,
    Richmond, KY 40475
  • Bray and Oakley Richmond KY

    2150 Lexington Rd d2,
    Richmond, KY 40475
View more

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.

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.

FAQs - Richmond, KY Car Insurance

  • 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.
  • 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.
  • 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.

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Methodology

The car insurance quotes displayed are based on an analysis of Insurify’s database of over 40 million quotes from 500 ZIP codes nationwide. To obtain representative rates, Insurify’s data science team performs frequent comprehensive analyses of the factors car insurance providers weigh to calculate rates including driver demographics, driving record, credit score, desired coverage level, and more.

Insurify’s analysis also incorporates the Insurify Composite Score (ICS) assigned to each insurance provider. The ICS is a proprietary rating that weighs multiple factors reflecting the quality, reliability, and health of an insurance company. Ratings used to calculate the ICS include Financial Strength Ratings from A.M. Best, Standard & Poor’s, Moody’s, and Fitch; J.D. Power ratings; Consumer Reports customer satisfaction surveys and customer complaints; mobile app reviews; and user-generated company reviews. 

With the above insights and ranking methods, Insurify is able to offer car insurance shoppers insight into how various insurance providers compare to one another in terms of both cost and quality. Note, actual quotes will vary based on unique attributes including the policyholder’s driver history and their garaging address.

Insurify Insights

How Richmond Drivers Measure Up

While most drivers know that car insurance quotes are determined in part by your personal driving history, many may be unaware that rates are also impacted by the average risk of the drivers around you as well. Check out Insurify's latest analysis of driving records in Richmond, Kentucky below:

Methodology

Drawing from an internal database of over 4 million car insurance applications, the research team at Insurify analyzes patterns in car ownership and driver behavior - including how Richmond drivers measure up to their fellow motorists across Kentucky in areas including speeding, DUIs, and more.
Insurify Insights publishes data-driven articles, trend analyses, and national rankings each week on all factors related to cars and those who drive them.

toyota

Toyota Camry

Most Popular Car in Richmond

#11

City with the Most Speeding Tickets Rank in Kentucky

#64

City with the Most Moving Violations Rank in Kentucky

#22

City with the Most DUIs Rank in Kentucky

#40

City with the Most Suspended Licenses in Kentucky

  • While car accidents are a sadly unavoidable feature of time spent on the road, rates of accidents do vary from city to city and from state to state. Richmond drivers rank 12 in the number of car accidents per driver across all cities in Kentucky.

    • Rank within state: #12
    • Percent of drivers in Richmond with an accident: 9.74%
    • Drivers in Richmond, KY with an accident in their driving history pay on average 38.34% more than drivers with a clean record
  • Exceeding the speed limit can endanger others and leave a permanent stain on your driving record. When compared to other cities in Kentucky, Richmond drivers rank 11 in the number of speeding infractions per driver.

    • Rank within state: #11
    • Percent of drivers in Richmond with a speeding ticket: 8.59%
    • Drivers in Richmond, KY with a speeding ticket in their driving history pay on average 19.17% more than drivers with a clean record
  • While driving while intoxicated is never acceptable, it’s a more common offense than many assume. Richmond drivers rank 22 in the number of DUI’s per driver across all cities in Kentucky.

    • Rank within state: #22
    • Percent of drivers in Richmond with a DUI: 2.56%
    • Drivers in Richmond, KY with a DUI in their driving history pay on average 7.25% more than drivers with a clean record
  • Some car models are just more popular than others and trends can vary from place to place. The most popular vehicle in Richmond is the Toyota Camry.

  • The Insurify team classifies rude drivers as those who commit the following driving offenses: failure to yield or failure to stop, improper backing, passing where prohibited, tailgating, street racing, or hit-and-runs. Among all cities in Kentucky, Richmond drivers rank 8 in rude driving infractions.

    • Rank within state: #8
    • Percent of drivers in Richmond with a reckless driving violation: 1.15%
    • Drivers in Richmond, KY with a reckless driving violation in their driving history pay on average 0% more than drivers with a clean record.
  • Having a squeaky-clean driving record is an accomplishment to be proud of. Some cities have safer drivers than others; Richmond drivers rank 11 in clean driving records across all cities in Kentucky.

    • Rank within state: #11
    • Percent of drivers in Richmond with clean record: 81.92%
  • Failing to yield the right of way isn’t just frustrating for other drivers; it’s dangerous, too. Richmond drivers rank 11 in failure to yield violations per driver across all cities in Kentucky.

    • Rank within state: #11
    • Percent of drivers in Richmond with a failure to yield violation: 0%
    • Drivers in Richmond, KY with a failure to yield violation in their driving history pay on average 0% more than drivers with a clean record
  • Reckless driving refers to a specific traffic violation: when drivers willfully act dangerously in spite of the risks they’re imposing on both themselves and others. Among all cities in Kentucky, Richmond drivers rank 6 in the number of reckless driving offenses per driver.

    • Rank within state: #6
    • Percent of drivers in Richmond with a reckless driving offense: 0.13%
  • As auto manufacturers increasingly turn towards producing greener car models, more and more motorists are embracing hybrids and EV’s. Richmond drivers rank 20 in hybrid and electric vehicle ownership across all cities in Kentucky.

    • Rank within state: #20
    • Percent of drivers in Richmond with a hybrid/electric vehicle: 0.35%
Insurify Insights

Insurify's team of data scientists and content specialists presents Insurify Insights, a series of automotive, home, and health studies focusing on the topics that impact us all. through expert analysis of over 4 million car insurance applications and an array of top data sources, the Insurify Insights team produces new data-driven articles, trend analyses, regional superlatives, and national rankings every week. See Insurify Insights as featured in Forbes, Fox News, USA Today, NPR, and more.

Tanveen Vohra
Tanveen Vohra

Content Manager at Insurify

Tanveen Vohra is a content manager at Insurify specializing in writing property and casualty insurance content. Through her content, Tanveen helps consumers better understand the components of their insurance policies so they can make smarter purchase decisions. Tanveen's work has been cited by CNBC, Fox Business, Business Insider, Fortune, and Market Watch, among others

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