By:  Ishan Mukhopadhyay Nov. 19, 2018

In its latest analysis of car insurance prices in Covington, Kentucky, Raltin analyzed the potential savings that can be made by calculating the difference between the 75th and 25th percentile premiums.

The results showed that 52-year-old married men with a driving experience of 35 years enjoy the largest savings of $3,505 (79.24%). They are followed by 45-year-old divorced men with a driving experience of 29 years, who can save $3,218 (85.13%). Thus, a driver’s background and experience can lead to a big difference in insurance premium rates.

This analysis was conducted using the latest information published by the Kentucky Department of Insurance. Every car insurance policy includes coverage limits and deductibles.

One consumer who participated in the survey said, “I have comprehensive insurance for the car which I currently have financed. I have the minimum levels for coverage required by my state.”

In this analysis, the following limits were considered: the uninsured and underinsured bodily injury coverage per accident were from $100,000 to $500,000, bodily injury coverage per person ranged between $25,000 and $100,000, and personal injury protection was between $10,000 and $50,000. The comprehensive and collision deductible was between $250 and $1000. The car models considered were 2006 Jeep Grand Cherokee Laredo with four doors, four windows and a 3.71 liter engine and 2007 Toyota Camry LE with four doors, four windows and a 2.4 liter engine.

The study focused on specific driver cohorts and found that 45-year-old male drivers typically pay expensive premiums. The most expensive premium for them is offered by Metropolitan General Insurance Company, at $27,600. The median premium rate comes from Westfield Insurance, at $5,084. The second-most expensive driver category is 52-year-old men. Metropolitan once again offers the highest premium for them at $35,366. The median comes from American National Property and Casualty Company, at $5,662.

The cheapest premiums are paid by 70-year-old widowed women with a 20-year driving experience. The lowest premium of $424 is offered by Pharmacists Mutual Insurance. The median premium comes from Secura Insurance Mutual, at $1,099. The second-cheapest premium is offered by CSAA Fire and Casualty Insurance, at 499, and it is for 32-year-old married men with a driving experience of 16 years.

The following graph compares car insurance premiums across key driver cohorts of Covington,KY.

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The table below compares car insurance premiums for key driver cohorts of Covington, Kentucky. It also lists the names of companies offering the most expensive, cheapest, and median premiums and the differences between the 75th and 25h percentile in insurance premiums.

CohortCheapest Car Insurance Companies in Covington,kentuckyMost Expensive Car Insurance Companies in Covington,kentuckyCar Insurance Companies offering Median Premiums in Covington,kentucky25th Percentile of Car Insurance Premiums in Covington,kentucky75th Percentile of Car Insurance Premiums in Covington,kentuckyDollar Difference between 25th and 75th PercentilesPercentage Difference between 25th and 75th Percentiles
52-year-old married men with a driving experience of 35 yearsUnitrin Direct Property & Casualty Company ($2,016)Metropolitan General Insurance Company ($35,366)American National Property and Casualty Company ($5,662)Garrison Property and Casualty Insurance Company ($4,423)National General Insurance Company ($7,928)$3,50579.24%
45-year-old divorced men with a driving experience of 29 yearsUSAA General Indemnity Company ($2,109)Metropolitan General Insurance Company ($27,600)Westfield Insurance Company ($5,084)USAA Casualty Insurance Company ($3,780)Vigilant Insurance Company ($6,998)$3,21885.13%
23-year-old single men with a driving experience of 7 yearsPharmacists Mutual Insurance Company ($670)Metropolitan General Insurance Company ($8,482)Westfield Insurance Company ($1,671)GEICO Indemnity Company ($1,389)California Casualty General Insurance Company of Oregon ($2,415)$1,02673.87%
23-year-old single women with a driving experience of 7 yearsPharmacists Mutual Insurance Company ($614)Metropolitan General Insurance Company ($9,886)Sentry Insurance a Mutual Company ($1,425)Grange Indemnity Insurance Company ($1,240)California Casualty General Insurance Company of Oregon ($1,946)$70656.94%
70-year-old widowed women with a driving experience of 20 yearsPharmacists Mutual Insurance Company ($424)Metropolitan General Insurance Company ($9,288)SECURA Insurance, A Mutual Company ($1,099)*Privilege Underwriters Reciprocal Exchange ($870)Encompass Indemnity Company ($1,460)$59067.82%
32-year-old married men with a driving experience of 16 yearsCSAA Fire & Casualty Insurance Company ($499)Metropolitan General Insurance Company ($7,280)Unitrin Direct Property & Casualty Company ($1,156)Grange Property & Casualty Insurance Company ($946)GuideOne Specialty Mutual Insurance Company ($1,510)$56459.62%


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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