Kentucky requires that all automobiles registered must be covered by standard liability coverage. At http://www.dmv.org/ky-kentucky/car-insurance.php is simple for Kentucky drivers to obtain up to five quotes from leading insurers to ensure that you are getting the possible rate. The State of Kentucky is a no fault personal injury state. This requires you to carry no-fault personal injury insurance.
The Kentucky law requires the following amounts of liability coverage that you must maintain either:
* $25,000 for bodily injury for one person
* $50,000 for bodily injury for more than one person
* $10,000 per accident for property damage
* $60,000 single limit insurance coverage
In both cases the no fault personal injury coverage will pay $10,000 regardless of who is at fault for the accident. This type of insurance will pay out of pocket expenses for you; however your right to sue for amounts over $10,000 is limited as is the other party. You can reject the limitations above my rejecting the no fault insurance coverage. When doing so you must file a special form with the Kentucky Office of Insurance.
Automobile liability amounts can be confusing. Many times you will see these numbers 25/50/10, what does that really mean to you the insured?
The first number (25) is what the insurance company will pay out for each person that is injured in an accident if you are held legally at fault for the accident. The second number (50) is what the total injury payout by your insurance company per accident. The third number (10) is what the insurance company will pay out per accident for any property damage. It is important to remember that the first and second numbers are tied together. If, for example, you were in an accident and were at fault for that accident and the accident involved 5 people and 4 were seriously injured incurring serious medical costs, a claims battle may happen between you and the other parties. If the medical bills are over $50,000, you as the at fault driver can be sued for the remainder of the costs in court. The ability to be sued is somewhat limited under the no fault insurance.
It is important to remember that the minimums listed above are minimums. Your financial lending association may require you to carry different amounts of insurance including collision and and comprehensive insurance.
There are other types of insurance that you can purchase and may be required by your lien holder on a new vehicle. Collision is insurance that will cover you when your auto has any type of damage or collision. This includes other objects besides autos, as an example a tree falling on your car.
Comprehensive insurance is the insurance that covers the loss of the vehicle or its contents. It will pay for theft loss, vandalism, and natural disasters. The cost may be worth it to be covered if your car is parked in places that it may be susceptible to theft or vandalism. If you have security devices on your car, the cost of this insurance is drastically reduced.
Uninsured and under insured motorist bodily injury is insurance that will cover you are involved in an accident with a driver without insurance or a driver that does not have the minimum insurance coverage (such as a driver from another state not requiring the same limits). It is important to discuss these additional options with your insurance agent to ensure that you are covered at the limits that will best protect you and your property.