By: Ishan Mukhopadhyay Jun. 21, 2018

Raltin’s analysis of the 2016 NAIC Annual Report reveals that car insurance premiums vary up to $4,888 from the median prices in Bowling Green, Kentucky. The most significant deviations from the median are observed for 52-year-old married men with a driving experience of 35 years. According to their annual reports, State Farm Mutual Automobile Insurance Company, Kentucky Farm Bureau Mutual Insurance Company, Allstate Insurance Company and Progressive Corporation are the four companies with the highest market share in Bowling Green, Kentucky. Among these, Progressive offers the lowest premiums for the abovementioned cohort at $4,888 less than the median. State Farm Mutual Automobile Insurance Company offers the second lowest premium, which is $1,871 less than the median and is available to 45-year-old divorced men with a driving experience of 29 years. Raltin conducted this survey by using information from the Alabama Department of Insurance.

The following table lists the 7 driver cohorts analyzed, the median premium rate for each cohort, and the premiums charged by companies with the highest market share in Bowling Green, Kentucky.

CohortMedianState Farm Mutual Automobile Insurance CompanyKentucky Farm Bureau Mutual Insurance CompanyAllstate Insurance CompanyProgressive Corporation
23-year-old single women with a driving experience of 7 years$1,510$562$209$356$50
32-year-old married men with a driving experience of 16 years$1,260$482$384$132$90
52-year-old married men with a driving experience of 35 years$6,200$1,643$1,630$4,649$4,888
70-year-old widowed women with a driving experience of 50 years$1,142$493$305$282$187
23-year-old single men with a driving experience of 7 years$1,788$668$400$576$112
45-year-old divorced men with a driving experience of 29 years$5,421$1,871$1,336$2,838$729

*In the above table, the boxes in light red represent values greater than the median. The boxes in light green represent values lesser than the median.

As discussed above, State Farm Mutual Automobile Insurance Company offers the cheapest premiums for the cohort of 45-year-old divorced male drivers. The second cheapest premium at $1,643 less than the median is available to 52-year-old married men with a driving experience of 35 years.

Similarly,Kentucky Farm Bureau Mutual Insurance Company also offers cheaper than median premiums for all the driver cohorts. The cheapest premium of $1,630 less than the median is for 52-year-old married men with a driving experience of 35 years. The second cheapest premium at $1,336 less than the median is offered to 45-year-old divorced men with a driving experience of 29 years.

Allstate Insurance Company tends to offer premiums higher than the median for most driver cohorts. The cheapest, at $132 more than the median, is offered to 32-year-old married men with a driving experience of 16 years. The most expensive premium at $4,649 more than the median is available to 52-year-old married men with a driving experience of 35 years.

The cheapest premium in comparison with the median is offered by Progressive Corporation for the cohort of 52-year-old drivers, as mentioned above. The second cheapest premium that this company offers, at $729 less than the median, is offered to the cohort of 45-year-old drivers.

The following chart compares car insurance premiums charged by the four companies with the highest market share in Bowling Green, KY.

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ABOUT THE AUTHOR

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Ishan Mukhopadhyay

Ishan has over 5 years of experience as a freelance journalist and a content writer. He graduated from The English and Foreign Languages University and holds a Masters degree from the University of Hyderabad. Apart from the English language, Ishan's other passion is data driven journalism.

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