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Kentucky ranks 6th highest for auto insurance prices, study says

Rental cars
Posted at 4:12 PM, May 11, 2022
and last updated 2022-05-11 16:32:12-04

LEXINGTON, Ky. (LEX18) — Kentucky drivers are paying some of the highest prices for car insurance.

According to a study done by Bankrate.com, drivers in Kentucky are spending 3.49% of their income on car insurance. That averages out to an annual price of $1,954 for full coverage.

This number also fluctuates depending on your driving habits. Drivers who have gotten a speeding ticket can spend around $2,407 annually. Those who insure a teen driver can pay up upwards of $4,000 annually.

The state lower than Kentucky are Nevada, Michigan, New York, Florida, and Louisana with 5.26% of annual income spent on car insurance.

As for neighboring states, Tennessee ranks 24th at 2.34 percent, Ohio is 14th at 1.94 percent, Indiana at 15th with 1.98%, and West Virginia at 38th with 3.03%.

The best state? That goes to Hawaii with 1.41% or a $1,206 premium annually. Second is Maine at 1.44%.