Kentucky Auto Insurance
Drivers looking for Kentucky auto insurance are interested in getting the coverage they need at a price they can afford. Rates for car insurance in KY tend to be higher than those paid by drivers in other states. Kentucky rates for auto insurance are the seventh highest in the United States. In spite of this fact, there are ways to avoid paying too much for your coverage.
Average Cost of Car Insurance Coverage In Kentucky
In 2007, the average price for insuring a vehicle in Kentucky was $2,239. This figure is significantly higher than the average cost nationwide, which was $1,896 for the same period, especially when you take into account that rates actually dropped from 2006 levels. In that year, Kentucky drivers were looking at $2,299 on average to insure their cars.
How To Keep KY Auto Insurance Costs Down
- Have a clean driving record - Drivers who haven't been involved in accidents are considered a better insurance risk and get better rates as a result. If you do have something unfortunate on your driving record, ask your insurance company how long you will need to wait before you qualify for a better rate.
- Shop around - Simply because you have been with a particular insurance company for a number of years it doesn't mean that you can't get a better rate elsewhere. Make a point of getting some quotes from other companies before your policy comes due and then you will know whether you are getting the best price for your situation or not.
- Increase your deductible - When you set your deductible at a higher level, your monthly premium rates will go down. The trick here is to choose a level for your deductible that you will comfortable with, since you will be responsible for paying this amount yourself before the insurance company provides any funding at all. Your insurance company or independent agent will be able to run the different scenarios for you so that you can see whether the savings in premium amounts will be worth assuming the financial risk of carrying a higher deductible.
- Consult an independent insurance agent - An independent insurance agent is not limited to selling insurance products from one carrier only. These people have the expertise to analyze your situation and shop the market for you so that you will get the best combination of affordable rates and good coverage.
- Ask about discounts - Insurance companies offer discounts in a variety of situations. You may qualify for one if you are a customer of several years' standing, a mature driver, or you don't put a lot of miles on your car each year. Insuring more than one vehicle with the same insurer may save you some money, as will insuring your car and your home with identical companies.
- Pay your bills on time - A good credit rating means that you will be able to get a better rate for your car insurance. Companies in Kentucky do check an applicant's credit rating and this number is factored in when they prepare a quote.
- Search often - KY car insurance rates can change without you knowing so be sure and make sure you have the best rate by reassessing on at least an annual basis.
How Much Kentucky Auto Insurance To Buy
Kentucky is a no-fault state for car insurance purposes. This means if a person is involved in an accident, his or her own insurance company will pay for medical and other expenses. All drivers are required to have a minimum level of Personal Injury Protection (PIP) coverage in place for this purpose.
No-fault insurance does have certain limitations in place, though. If the damages sustained in an accident are over this threshold, then the at-fault driver is responsible for the difference. How will you pay for these damages? The State has thought of that too: all drivers in Kentucky must buy a bodily injury liability and property damage liability policy.
The minimum amount for bodily injury liability coverage in Kentucky is $25,000 for injuries sustained by one person in an accident, with a cap of $50,000 for all injuries stemming from one accident. This amount is the maximum that will be paid out, no matter how many people were hurt.
For property damage, the minimum amount required is $10,000. This coverage pays for damage to the other vehicle involved in the accident, as well as to repair a mailbox, fence, traffic sign, building, or shed.
These amounts are the minimum required by law, and may not be sufficient coverage for all drivers. Kentucky residents can always purchase additional coverage, if desired.
Compare Cheap Kentucky Car Insurance Quotes Online
Now that you know how much Kentucky auto insurance to buy and how to keep your costs down, why don't you take the next step and get a quote? The free KY auto insurance quote tool at the top of this page can help. Just click on it to get started right now!