Posted on June 21, 2018
In the state of Kentucky as long as your insurance company gives you 75 days notice, they don’t have to renew your existing automobile policy. If you find yourself in a situation like this, you’re going to want to start searching for a new insurance company at that time. One of the main concerns that most people have when it comes to auto insurance is how to find the best rates possible.
The first step to finding the best price on automobile insurance in Kentucky is to do your homework. It can be tempting to call up the insurance agent your friend or family member uses, but even if they received a great price, that may not be the case for you. It’s important to contact several companies that are licensed to sell this in Kentucky and ask each one for a quote based on the coverage you need. This will give you a detailed look at area prices and will allow you to do a price comparison before choosing a policy.
When you contact agents it’s also a good idea to ask them about any discounts the company they are representing offers. Most companies offer standard discounts including those for insuring more than one vehicle or safety discounts for items like air bags and anti-lock brakes. Each insurance company is unique though and the possible discounts that are available range from a senior’s discount to a reduction in premiums for someone who doesn’t do much driving each year.
You should also inquire about the deductible level when you are asking for a price quote for automobile insurance in Kentucky. If you drive a late model vehicle you’ll likely be looking at both collision and comprehensive coverage. These both have a deductible and if you request a higher than normal deductible, it will help lower your premiums, which saves you money.
Posted on June 15, 2018
Most people decide what type of auto insurance to buy based upon the advice of the insurance agent. However, if the purpose of buying auto insurance is to protect yourself from financial devastation due to serious personal injury, then the advice of the Kentucky Auto Accident Attorney, a personal injury attorney since 1986, may be of interest to you. As an auto accident attorney for over 20 years, I have represented 100s of people injured and/or killed in auto accidents and I know what auto insurance coverages are important to them and their families.
Uninsured Motorist Coverage:
This coverage provides coverage for injuries caused by someone who does not have any insurance on their vehicle at the time of the accident. There are lots of people driving around without insurance on their vehicles and it should not surprise you that they cause a disproportionate number of auto accidents. Irresponsibility breeds irresponsibility.
Underinsured Motorist Coverage:
This insurance provides coverage for injuries caused by someone who has insurance but does not have enough to satisfy your claim. This coverage is one of the most used coverages by an auto accident lawyer on behalf of car accident victims and it is one you need in as large an amount as you can afford. The minimum liability coverage required in Kentucky is $25,000.00 and the majority of drivers carry the minimum. $25,000.00 is not enough money to pay even the smallest claims for personal injury. Underinsured Motorist Coverage (called “UIM”) allows me as your personal injury lawyer to make a claim against your own insurance company when the person causing the accident does not have enough insurance to satisfy your claim.
The good news about Underinsured Motorist Coverage is that it is relatively cheap. Insurance companies are forced by law to offer it. You need, at the very least, to have as much UIM as you have liability coverage. I find that many insurance agents fail to educate their client’s about this coverage and its affordability.
Added PIP/No-Fault Coverage
Kentucky law requires you to purchase $10,000.00 in Personal Injury Protection Benefits (also called basic reparation benefits and kentucky no-fault benefits). This coverage pays for medical expenses, lost wages and some other replacement costs. Although Kentucky requires you to buy $10,000.00 of this coverage, some agents forget to tell you that you have the option of buying more. You may want to consider buying more no-fault in increments of $10,000.00 because you may need the wage loss coverage and $10,000.00 can evaporate quickly. As an accident lawyer for many over the past several years, I have many clients who exhaust their $10,000.00 quickly with medical expenses and then struggle to pay bills because they do not have any wage replacement coverage. Additional no-fault coverage is particularly important recently because health insurance companies are paying less and less, which means you will be paying more of your medical bills out of your own pocket if you do not have added no-fault.
If you paid $800.00 for $500,000.00 in liability coverage on your two vehicles and I told you that you could increase that coverage to $1 Million for $150.00, would you do it? This coverage is called an excess policy. You can greatly increase your coverage for a relatively small premium. Further good news is that many excess policies include Underinsured Motorist and Uninsured Motorist coverages. You need to ask your agent to make sure these coverages are included.
Should we look for more ways to spend money on car insurance? Absolutely not! However, there are certain coverages that are worth our attention and I would suggest that you at least price them so that you can determine if you can afford them. Thousands of people are killed and seriously injured in auto accidents every year in the state of Kentucky. It would be irresponsible of anyone to think that they are exempt from a serious auto accident some time in their life. So, as a personal injury attorney, I am encouraging you to purchase the right insurance coverages.
Posted on June 9, 2018
Kentucky is currently running on a different policy than the other states. They are using a “no fault system” which is different than the “tort system”. For the no fault system, if there is an accident the insurers will cover you up to certain level, despite who is at fault. This will allow you to get immediate help when an accident has occurred.
This law was adopted as it lowers the confusion and lawsuits that arise after an accident has occurred. This system also works well with the middle class and thus, many states are already considering implementing this system. Records of the Kentucky State Police show that there were 152, 612 reports of traffic accidents in 2006 in which 913 were fatal.
This loosely translates as one in every 16 licensed drivers in Kentucky was involved in an accident during 2006. To avoid property damage and medical expenses when involved in an accident, you will need to adequately protect yourself and your family. Check your auto insurance options to make sure that you have at least the minimum reliable coverage. You can also quickly compare quotes and coverage online to get the best deals in a fast and effective manner. Every driver in the state must have the basic no fault personal injury insurance and liability insurance as well.
This will be a minimum of $10,000 for property damage, $25,000/$50,000 for bodily injury which is normally referred to as 10/25/50. You can also waive the no fault insurance coverage as allowed by the state. This means that if you choose to reject the coverage, you will not be limited in suing for additional expenses if you were involved in an auto-accident where as if you take the coverage you will only get $10,000 in compensation. To reject this coverage, you will need to fill in some forms with the Kentucky Office of Insurance. You can get this form from your insurance agent.
An important thing to remember is you cannot let your insurance payments to lapse as there is no grace period. If you can’t afford your entire premium on time, you can discuss with your insurance provider on getting appropriate payment terms and schedule.