Kentucky Car Insurance
Car liability insurance is mandatory for Kentucky drivers. Kentucky drivers must carry minimum liability insurance of $25,000 per person, $50,000 per accident for bodily injury and $10,000 minimum coverage. This coverage may be more simply stated as 25/50/10.
No–Fault Auto Insurance
Kentucky has no–fault insurance laws. What this means is that in the event a Kentucky driver gets in an accident, there insurance company will cover them up to a certain amount regardless of who is at fault for the accident. This allows Kentucky drivers to get more immediate relief from their own insurance company for damages resulting from a car accident, without having to haggle or negotiate with another insurance company. As a result, Personal Injury Protection (“PIP”) coverage is required in Kentucky with minimum limits of $10,000.
PIP pays for medical bills, lost wages, household services, and funeral expenses following an accident regardless of fault. PIP is the primary form of medical insurance following an accident. Once the PIP coverage has been used up, an insured can then make a claim with their health insurance carrier for additional accident related medical bills.
Kentucky drivers are not required to purchase Uninsured/Underinsured Motorist (“UIM”) coverage, but it is an important type of coverage. A driver with UIM is insured up the amount of the UIM limits in the event the driver at fault for the accident does not have insurance or does not have enough insurance to pay for the damages sustained in an accident.
For example, if a Kentucky driver in an accident had 25/50 UIM coverage, he or she would be able make a UIM claim in the applicable situations with their auto insurance company and be able to receive up to $25,000 for their own bodily injury damages. Per the UIM policy limits, the insurance company would only pay up to $50,000 for all UIM bodily injury claims stemming from the accident.
Collision and Comprehensive Coverage
Collision and Comprehensive coverage are other important types of auto insurance available to Kentucky drivers. Collision pays for vehicle repairs or vehicle replacement value following a collision regardless of fault. Comprehensive coverage pays for all vehicle repair damage or replacement value for incidents other than a collision such as a tree falling on a car or the car being stolen.
There are minimum deductible limits for both collision and comprehensive, but Kentucky drivers can raise their deductible amounts to lower their premiums. Many lenders require vehicle owners to carry both of these coverage types as part of their loans.
Know When Your Auto Insurance Policy Expires
It is very important that Kentucky drivers do not allow their auto insurance policies to lapse. Kentucky drivers must carry proof of insurance in their vehicle at all times. If a driver is caught without insurance or proof of insurance, he or she will face a fine and can be forced to comply with state financial responsibility laws. They can also be held personally responsible for all damages caused in an accident. Driving without car insurance in Kentucky is extremely imprudent and can lead to financial ruin.
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