Auto insurance can help protect you in the event of an accident. Most states require that auto insurance be carried on all registered vehicles, including Kentucky. Failure to comply with the legal requirements in Kentucky can result in huge penalties, including stiff fines and possibly the loss of your driving privileges or even jail time.
To satisfy the Kentucky Responsibility Act, a minimum policy that includes 25/50/10 coverage must be maintained at all times. 25/50/10 is used to describe the amounts the auto insurance company is willing to pay out in the case of an accident. Purchasing the minimum insurance per Kentucky laws means that the insurance company will pay $25,000 for bodily injury to the policy holder, with a maxi-um amount of $50,000 to be paid for bodily injury of all parties involved in an accident. This coverage also covers up to $10,000 for property damage caused by the accident.
Additional insurance policies are available and can be purchased in addition to the state required coverage. Collision and uninsured motorist coverage are both great policies to have. Most people are unaware that most policies do not cover the cost to repair your won vehicle! Adding this coverage can help reduce the costs of your auto repair. Uninsured motorist is also great and helps protect you from those who do not have coverage.
Proof of insurance must be carried in the vehicle at all times and presented to any officer of the law or other official upon request. Proof of insurance must also be presented at the time of registering a vehicle. Each month Kentucky drivers are required to electronically report all of their active policies to the Kentucky Department of Motor Vehicles.
Failure to comply with the Financial Responsibility Act in Kentucky carries with it consequences. Fines ranging between $500 and $1,000 can be imposed, along with the loss of your driving privileges and license plate. A judge can also sentence a person to 90-days in day in addition or in lieu of this fine. Driving without auto insurance isn’t worth the risk!
Comparing rates in your area is a practical way to get the best rates on your minimum required insurance. rate comparisons can be done in a few short minutes with the help of a site such as esurance.com. Esurance can give you multiple quotes from all of the top insurance companies in your area.