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.