Cheap Auto Insurance Quotes in Richmond, KY (2023)

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.

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• Cheap Car Insurance Kentucky

• Compare Car Insurance

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!

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 .

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Average Car Insurance Cost

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Minimum Car Insurance Requirements in Kentucky

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 be available when:

• Requested by law enforcement

• Renewing vehicle registration

• The vehicle is involved in a car accident

The minimum liability insurance requirements for private passenger vehicles in Kentucky^[1] are:

• $25,000 per person for bodily injury

• $50,000 per accident for bodily injury

As a major part of your liability insurance, bodily injury coverage covers medical bills for people other than the policyholder who are injured during an accident. Kentucky is a no-fault state, meaning both parties’ insurance providers will pay for expenses, regardless of which party caused the accident.

• $25,000 per accident for property damage

If it’s determined that an insured driver is at fault for an accident, this coverage pays for repairs to the property of the other involved parties. Additionally, property damage coverage can cover legal costs if the insured driver is involved in a lawsuit following the accident.

• $10,000 per accident for PIP

Personal injury protection coverage, also referred to as PIP coverage, will cover the policyholder for medical payments they incur in the event of an accident. Depending on your plan, you may also receive non-medical benefits, compensating you for lost wages, household expenses, and even funeral costs.

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.

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.

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• High-risk Car Insurance Kentucky

• DUI Car Insurance Kentucky

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.

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Find local Richmond agents

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.

For more detailed Kentucky city level guides, check out these below.

• Average Cost of Car Insurance Rates in Kentucky

• DUI Car Insurance Rates in Kentucky

• High-Risk Driver Car Insurance Rates in Kentucky

• Kentucky Car Insurance with Bad Credit Rates

• Short-Term Car Insurance in Kentucky

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