As is the case in virtually every other state, motorists in Kentucky are legally required to have automobile insurance. The minimum required insurance amounts in Kentucky are $25,000 for bodily injury liability for each person in an accident, $50,000 for bodily injury for all people hurt in an accident, as well as $10,000 for property damaged in an accident. Although you can register a vehicle in the state with this minimum coverage, it typically isn’t enough to adequately protect you in the event a serious accident does occur.
If you are concerned that a more extensive automobile insurance policy would be too expensive, that’s not always the case. There are ways to save money and get discount automobile insurance in Kentucky. One of the easiest ways is to purchase it through the same company you’ve already bought other insurance policies from.
Many companies in Kentucky offer a wide range of products including car, life, health and homeowner’s insurance. If you already have a homeowner’s insurance policy in place, contact the agent you use for that and ask him or her for a quote on a policy. You may qualify for a discount of up to 15% on your premium and your homeowner’s insurance rates may drop too.
You can also save money on your insurance by taking a higher deductible. The deductible level is typically set low and the result is higher premiums. If you ask for a quote on a policy based on a deductible of $500 – $1,000 as opposed to the standard $250 level many companies routinely use, you’ll see a rate reduction in the premium. This is a great money saving approach for anyone with the resources to pay the deductible should they ever need to make a claim.