Kentucky requires everyone who registers a vehicle in the state to show proof of insurance. There are a number of laws and regulations, including the confusing “Choice No Fault” system, that make Kentucky a confusing place to shop for auto insurance. It is important to have all the necessary information before you make an intelligent decision. Read on to learn everything you need to know in order to get the car insurance plan you need. This guide is your single consolidated online location for all the information on KY insurance on the web, in your local library and at your local motor vehicle registry.
Kentucky Auto Insurance Requirements
Standard punitive measures will be taken against anyone caught driving without auto insurance. If an official asks for proof of insurance and you don’t have it, you will be fined upwards of $500 but no more than $1,000. Repeat offenses may lead to loss of driver’s license and vehicle registration or up to 90 days of jail time.
Insurance requirements for drivers in Kentucky are more complex than in most states due to the “Choice No Fault” system as well as a choice between split or single limit insurance. All drivers are required to purchase either a split limit or a single limit plan. Split limit minimum coverages are $25,000/$50,000 for personal/accident Bodily Injury Liability and $10,000 for Property Damage Liability, while single limit minimum coverage is $60,000 for all combined liability.
Upon expiry of your KY insurance, you must renew your insurance immediately. There is no grace period between insurance coverage periods, and if you are caught driving with expired insurance you will effectively be uninsured while driving and subject to all appropriate punishments.
Kentucky Auto Insurance Laws
As a Choice No Fault state, Kentucky uses both the Tort system of courts and a No Fault system to determine who pays for accidents. Effectively, the Tort system supercedes the No Fault system, meaning that an individual can choose to sue for any damages related to an auto accident. However, if a lawsuit would be costly and time-consuming, an individual can choose to utilize the No Fault system. This means that personal damages either have to be paid out of pocket or through personal injury protection (PIP) coverage, so if you believe you are going to be a No Fault sort of person, you should purchase PIP coverage in addition to the minimums.
Kentucky Auto Insurance Coverage
As stated before, Kentucky offers a choice of liability insurance split between Bodily Injury and Property Damage Liability ($25k/$50k and $10k respectively) or single limit liability insurance for all damages related to the accident. If you don’t want to use the Tort courts, it is recommended that you purchase PIP coverage as well. Uninsured/Underinsured Motorist coverage is not required, but if a driver without insurance hits you, you may be responsible for your own damages without it.
If you plan on using the Tort system, consider purchasing higher than minimum limits for liability coverage, as courts can rule higher-than-average damages including lost wages or pain and suffering. Finally, collision and comprehensive insurance coverage may be required if you are leasing a vehicle, as a dealer will want to protect the car while he or she still technically owns it. Collision insurance protects against collisions with objects while comprehensive insurance protects against any other sort of damages. If you live in areas with high rates of auto damage or if you have other people on your policy, consider purchasing either of these insurance options.
Cheap Kentucky Auto Insurance Quotes
Most of the major car insurance providers offer KY car insurance in a variety of forms and coverage options. Cheap quotes are easy to come by – simply go online and type in the data regarding who you are and what you want. Most of the time, an online quote directly from auto insurance providers will be free, meaning that you can easily compare quotes and choose the insurance plan that offers the best coverage plan for the cheapest price.
Kentucky Auto Insurance Ratings
Ratings for Kentucky auto insurance, indicating how much a company is likely to charge you, are determined by a number of factors. Your credit score, your age/gender, where you live, your driving habits and the make/model of your car will all play a part in determining how much you have to pay for insurance.
Kentucky Auto Insurance Rates
Kentucky auto insurance rates, on average, are significantly higher than those in the rest of the country, in part because of the state’s confusing insurance laws. The average KY insurance price 2011 was $1,743 per year. Prices are also on the rise in the state, meaning that you should be very careful about looking for the best possible deals. Visit at least three different insurance websites and compare free online quotes before making your final decision.
Kentucky Auto Insurance Companies
There are several car insurance providers that serve the state of Kentucky. The ones listed here are likely to offer the best deals, but because the markets shift so quickly you would do well to look at others too.
* Travelers Insurance
* Liberty Mutual
These companies have been rated as providing some of the best Kentucky-specific coverage plans, but they are by no means all that’s out there. If none of these plans are satisfactory, you are encouraged to find the company that works for you.