The largest city in the state of Kentucky, Louisville is called home by more than 550,000 Kentuckians. The city is also home to many world famous institutions such as Kentucky Fried Chicken, the Kentucky Derby, and the Louisville Slugger baseball bat company. With our analysis of car insurance premiums in Louisville we wanted to show people how much these rates can vary within a city and not just at a state or national level.
Our 2014 study of auto insurance rates in Louisville looked at 10 neighborhoods within the city limits to help our readers determine which parts of The 'Ville end up being the most expensive (and the cheapest) when it comes to buying insurance for your car. In alphabetical order the names of the neighborhoods we included in the study were: Beechmont, Downtown Louisville, Jeffersontown, Middletown, Newburg, Okolona, Pleasure Ridge Park, Shively, St. Matthews, and Valley Station.
Find the Cheapest Auto Insurance Quotes in Your Area
Most Expensive Areas
The city's business hub, downtown L'ville is the most expensive place in town to buy insurance for your motor vehicle. This isn't a huge surprise as downtown areas from city to city tend to be the most population dense, and as such, will inevitably have more accidents and reportable incidents to auto insurers. Insurance rates downtown average almost $1,500 per year which is 40% higher than the more affordable parts of Louisville.
Sitting just to the west of the Louisville International Airport and bordered by I-264 to the north, Beechmont is home to around 8,500 residents and is the 2nd most expensive neighborhood for car insurance in the Louisville area. Those living in the area can expect to pay an annual average of $1,370 for basic coverage or $114 each month.
Least Expensive Areas
Bordered by I-64 to the south, the suburban neighborhood Middletown is located 20 minutes east of downtown Louisville. And good news for the 7,200+ citizens of Middletown: they had the cheapest car insurance rates of any area in Louisville! Rates on an annual basis averaged $1,125, a full 25% cheaper than living downtown.
If you're from KY and like shopping then St. Matthews might be your spot! Home to the 2nd and 5th largest malls in the state, St. Matthews is 7 miles east of the downtown city center and has relatively affordable insurance compared to other neighborhoods in The 'Ville. Annual premiums are around $1,127 which works out to $93 each month.
Map of Neighborhoods
The 10 neighborhoods we compared in Louisville are listed below. Number one (Middletown) being the cheapest up to number ten (Downtown Louisville) which has the most expensive rates in the city.
Because there can be significant variation in prices from different auto insurers it's always important to do your research in advance and get quotes from a handful of top-tier companies. In Louisville, Kentucky Farm Bureau and GEICO ($562 and $775) tended to have the cheapest rates from neighborhood to neighborhood, while Safe Auto and Auto Owners ($1,840 and $2,112) had the priciest insurance policies. Here's how they all stacked up:
Most Expensive Insurer in Louisville
Safe Auto - At $2,112 per year, the cost of purchasing auto insurance from Safe Auto in Louisville was almost 4x as expensive as rates we looked at from KY Farm Bureau. This held true not only across the city as a whole but across each neighborhood as well.
Cheapest Auto Insurance Company in Louisville
KY Farm Bureau - Insurance premiums for Kentucky Farm Bureau were easily the most affordable that we looked at in our study. Like Safe Auto on the high end, car insurance rates from this insurer were cheapest city wide and in each individual area, too. Drivers looking to go with KY Farm Bureau will be happy to know that their rates were 50% less than average in Louisville.
Auto Theft Statistics in Kentucky
Amongst the top 6 largest cities in KY, Louisville has the 2nd most car thefts per 100,000 residents. In absolute terms, it has the most car thefts of any city in the state (2,173) but that's due mostly to the sheer size of Louisville and the fact that it's the largest city in the Bluegrass State.
|City||Population||Car Thefts||Thefts per 100,000|
Car insurance premiums assumed a 30 year old male driver operating a 2010 Toyota Camry that he owns. The automobile is primarily used for the purpose of commuting. Insurance coverage is slightly above the state minimum but far from being a deluxe insurance package. Our hypothetical driver logs anywhere between 10,000-15,000 miles each year and no accidents or violation of record in the last 5 years. The auto insurance companies we surveyed were: Allstate, Auto Owners, Cincinnati Insurance, Electric, GEICO, Grange Mutual, Kentucky Farm Bureau, Liberty Mutual, MetLife, Nationwide, Safe Auto, State Auto, State Farm, and USAA.
Surveyed auto insurance costs in Louisville are for illustrative purposes only and actual quotes will vary based on your physical residence, driving history, and many other factors.