Kentucky Farm Bureau
There is a particular phrase common in the insurance industry – the “no-fault” clause. This phrase means that if a policy holder is involved in a vehicular accident, the company will pay for the driver’s and the passengers’ hospital bills, regardless of who’s responsible for the accident. Several states enforce this policy, requiring insurance providers to cover the medical bills of both driver and passengers, avoiding delays to needed medical attention. This particular system is greatly useful for many clients because it eliminates the need for long and costly lawsuits.
As it so happens, Kentucky is one of those states. With this in mind, it might be beneficial to get insurance in Kentucky. Aside from being a legal requirement, having insurance will secure adequate protection for you and your passengers. That alone can be considered a wise investment.
In Kentucky, insurance companies have to shell out at least $25,000 for an injured client or policy holder. This can go up to $50,000 for bodily injury liability involving all victims in the mishap. Clients can also claim up to $10,000 for property damages. Car insurance providers in the state also have to present a written report for updates, renewals, or amendments to any company policy.
Drivers in the state can also expect to get up to $10,000 from personal injury protection or “no-fault” coverage. This amount can be used for hospital expenses, lost income, and even funeral arrangements.
The “no-fault” coverage, however, does not come without strings. When a client avails of this service, he or she limits their right to sue. But they are also protected from potential lawsuits. Drivers can reject this policy and pursue the right to sue and be sued. All clients have to do is fill out a special form from their insurer and forward it to the Kentucky Department of Insurance.
The spilt limit arrangement also has another variation, the “single limit” option. Liabilities due the insurers can be merged into a single amount not less than $60,000, if policy holders see the need.
The “no-fault” coverage takes care of the medical expenses of everyone involved but does not offer compensation in any way for the damage to vehicle. In the event that a car is wrecked, collision coverage can help pay for repairs up to a certain preset level. However, if a car is damaged or totally destroyed because of natural events or disasters, then comprehensive coverage will take care of policy holders.
Lowering your Kentucky car insurance rates
Being a careful and cautious driver is the single most important assurance to lower insurance rates. Higher deductibles can also lower rates significantly.