The expenses of daily living can be high enough, and the costs of owning and maintaining a vehicle can add up to a huge chunk of a family’s monthly income. Fortunately for Kentucky motorists, they don’t necessarily have to pay high premiums for their car insurance when they use CarInsuranceQuotes.com. CarInsuranceQuotes.com will search reputable online companies such as Farmers’ Insurance Group, Nationwide and Progressive to find the lowest possible car insurance quotes for our customers so they can save their money for other important expenses that may arise everyday.
Unfortunately, the cost of the average car insurance premiums for Kentucky residents is higher than in many of the other states, and though the price of the average insurance premium fell 2.7% from $2,299 in 2006 to $2239 in2007, it is still much higher than the national average of $1896, making Kansas the seventh highest state for automobile insurance costs in the nation. Of course, the price each driver pays for their individual policy can vary greatly based on the vehicle they own, their driving history and their credit history, so the actual cost of an insurance policy could be much higher or lower than the state average.
Kentucky Car Insurance Requirements
To help keep the cost of insurance premiums as low as possible and to lessen the amount of lawsuits that its motorists file every year, the state of Kentucky has enacted a no-fault policy for its residents. Under no-fault rules, every driver must obtain a minimum amount of Personal Injury Protection to cover their personal medical expenses, lost wages and/or funeral expenses regardless of who was at fault in an accident. There are limitations to the no-fault policy, however, and if the damages from an accident exceed a certain amount, the party found to be at fault may be held liable for the expenses.
In the event that the costs of an accident surpass the limits set forth in the no-fault guidelines, Kentucky requires its motorists to maintain a minimum amount of bodily injury liability and property damage liability coverage for their vehicles. To help pay for damages when the insured party is found to be at fault, Kentuckians must obtain a minimum bodily injury liability policy in the amount of $25,000 for injuries to one person up to a maximum of $50,000 for multiple people that are involved. In addition, property damage liability in the amount of $10,000 for repairs to damaged property including buildings signs and the other vehicle must be obtained as well.
Because the limits of the minimum liability coverage may not be sufficient to cover damages from an accident, the state of Kentucky highly recommends that every driver carry a liability policy greater than what is required by law as well as some type of Comprehensive and Collision coverage to pay for any damages to the insured’s vehicle that the other driver’s insurance failed to cover or for damages fro wildlife and other acts of nature. It is also strongly recommended that every Kentuckian obtain some form of Uninsured/Underinsured Motorist protection in the event that the at-fault party fails to have sufficient coverage or their vehicle is damaged by a hit and run.
Just because the average cost of car insurance premiums for the state of Kentucky is higher than in other parts of the country doesn’t mean that everyone will have to pay such high premiums. CarInsuranceQuotes.com is dedicated to finding low cost car insurance quotes for our customers from car insurance companies they can rely on. And getting online quotes has never been easier! After entering a Zip code for their area, our customers will be asked a few general questions about their driving history and then CarInsurancQuotes.com will do all the research for them; finding multiple Kentucky car insurance quotes that they can choose from so they can make the best decision as to which insurance policy is best for their family.