Kentucky Auto Insurance
When it comes to car insurance, Kentucky is an interesting state. First of all, it is one of only a dozen or so states that operate under no fault car insurance laws. What this means is that, in the event of an accident, none of the drivers involved will be deemed “at fault.” Instead, each driver’s car insurance policy will simply be responsible for paying for the damage to his or her vehicle and for injuries sustained by the driver. However, not every driver will operate under no fault laws. Drivers can choose between traditional or “tort” coverage, in which drivers are responsible for damages and/or injuries they cause directly, or no fault car insurance coverage. Pennsylvania is the only other state that operates in this manner.
As such, the minimum requirements vary depending upon which type of coverage the driver opts for. A driver who wants traditional coverage will have to carry at least $25,000 in liability and bodily injury coverage for each person harmed in an accident, $50,000 in liability and bodily injury coverage for all persons harmed in an accident, and $10,000 in general property damage. Any driver who wants no fault car insurance will have to have all of these in addition to personal injury protection in the amount of $10,000.
Making the Choice
There are pros and cons to either of these choices. If you feel that you are a good driver and are unlikely to be involved in an accident, then traditional car insurance may be a good choice for you. You do have to worry about other drivers on the road, of course, and the possibility that you might be involved in an accident with an uninsured or underinsured motorist. As such, it is often a good idea to take out some level of collision, comprehensive and/or uninsured/underinsured motorist coverage in addition to your liability policy.
If you opt for no fault car insurance, you will rarely have to worry about litigation. However, you must make sure that you have enough coverage to take care of your medical bills. If you are seriously injured or even if you just require a couple of visits to the hospital $10,000 is simply not going to cut it. Therefore, if you opt for this policy, you’ll want to take out as much personal injury protection as you can afford.
If you require help making the decision as to which type of insurance is right for you, try speaking with an insurance agent in your area. Together, you can work to determine your individual needs as a driver and the type of coverage that is likely to be best suited to them.
Average Kentucky Car Insurance Rates
As of January, 2011, the average car insurance rates paid by Kentucky residents is approximately $1,448 per year. This is only slightly more than the national average of $1,440, so Kentucky residents don’t have it as bad as those in some other, more expensive states. The unfortunate thing, however, is that car insurance rates have been on the rise here since September of 2010. In that year they rose steadily from $1,328 in September to $1,352 in October, to $1,437 in November, and finally to $1,442 in December.
Since Kentucky car insurance rates seem to be on the rise, it’s extremely important you choose your car insurance provider and policy carefully. If you do, you can end up paying well below the average amount and still maintain good coverage for your vehicle and for yourself. However, finding the right provider is not an easy task, and you must be willing to put in a little work. If you are serious about and dedicated to finding the right provider, you are more likely to end up paying below the average and being satisfied with your insurance policy.
Your first step to finding a good provider is to take a look at all of the licensed providers in your area. In the state of Kentucky, there are well over 40 providers, both large chains and smaller, more locally owned car insurance companies, so you should have no shortage of choices. Read online reviews of providers you are interested in to find out what past customers have thought, and don’t be afraid to ask friends, family members, and even co-workers what companies they insure their vehicles with and whether or not they are satisfied. Your final step will be to request and then compare rate quotes to find the best deal.
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