Cheap Kentucky Auto Insurance Quotes
There are a few important points you should know about cheap auto insurance in Kentucky, which are: state requirements for car insurance types/amounts, car insurance cost in comparison to the local cost of living, and what insurance carriers base premium rates on in this state.
State Requirements for Automobile Insurance in KY
Kentucky is a no-fault state, 
and so it requires that drivers purchase PIP (personal injury protection) coverage in certain amounts. Just like any other US state, KY also requires drivers to carry liability insurance (25/50/10). This state does not require drivers to carry any other types of coverage, such as uninsured motorist. Now you may think this gives you cheap auto insurance quotes, but things add up.
PIP covers the policyholder (driver) and their passengers for their personal medical bills that have to be paid as a result of injuries sustained in an automobile accident. PIP covers you regardless of fault. PIP also covers a portion of lost wages for the policyholder, or reimburses them to their beneficiary in the event of death. PIP will only pay up to the levels set for it. A policyholder can always increase their levels of PIP.
Liability coverage covers the policyholder (driver) for their liabilities to a third party in at-fault accidents. Liability limits are divided into three amounts: injury per victim, total injuries, and total property damage. In general, these amounts cannot compensate for one another. So, if property damage is over the amount of insurance set for it, and injuries caused are less than the amounts set for them, one cannot use what's left for injury liability coverage to pay for property damage. This fact and the fact of lower limits required in Kentucky compared to other states are reasons why many motorists have opted to increase their liability limits in this state.
Car Insurance Cost vs. the Cost of Living in KY
According to statistics, Kentucky is the 2nd cheapest state by the average cost of living in the USA. At the same time, it’s right in the middle for the cost of cheap auto insurance – it is number 25. Why does car insurance cost more in this state, compared to its lower cost of living? We don’t know the answer to this question, but we can give some advice: shopping around thoroughly can help you save a lot of money on your automobile insurance in KY. There are dozens of insurance carriers servicing this state, and each one of them is doing their best to get their share of business. Some good carriers that sell auto insurance policies in KY are: Kentucky Farm Bureau, Indiana, Allstate, Progressive, Nationwide, State Farm, GEICO, Travelers, and Safeco.
Auto Insurance Premium Calculation Factors in KY
The factors that most major vehicle insurance companies use to calculate one’s premium include: age, gender, vehicle type, driving record, credit score, address, garaging address, driving experience, miles driven, and the number of car insurance claims on one’s record. If you have questions about this, you should visit the Kentucky Department of Insurance website. After weighing all of the factors, each insurer will offer a driver an individualized quote, and that’s why comparison shopping is the key to locating an affordable rate.
