Kentucky Auto Insurance Requirements
Kentucky has very tough auto insurance laws for both private and commercial vehicle owners. Minimum auto insurance coverage requirements in Kentucky are mandated by state law and the Kentucky Department of Insurance. The following minimum coverage is required on every registered vehicle, except as noted below:
(Source: Kentucky Department of Insurance)
Driving without the mandatory liability insurance in Kentucky can result in a $1,000 fine, suspension of driving privileges, and up to three months in jail. Subsequent offenses are subject to higher fines, reinstatement fees, and jail time.
The Kentucky Automobile Insurance Plan is available to drivers who are unable to obtain required coverage through the voluntary market. More information is available on the AIPSO website.
Factors Influencing Car Insurance Premiums in Kentucky
Getting a quote for cheap car insurance in Kentucky requires some research and rate comparisons between different insurance companies, even though Kentucky ranks just below national averages for car insurance costs. Some factors that impact insurance rates in Kentucky include:
• Kentucky is a “no-fault” state, and requires PIP insurance
• Vehicle repair costs are generally less expensive in Kentucky than elsewhere
• Overall accident fatality rates are above national averages
• A much higher percentage of uninsured drivers compared to national averages
• Auto insurance fraud
• Vehicle theft rates below national averages
The average auto insurance premium for residents in Kentucky is $1,629 in 2011; the national average is $1,790.
Tips for Obtaining Cheap Car Insurance in Kentucky
• If you’re over 55, take a state-approved defensive driving course for a policy discount
• Several insurance companies offer “pay as you drive” car insurance for low mileage drivers in Kentucky
• Maintain a good driving record
• Bind multiple policies (homeowners, life, auto) with the same provider
• Maintain a good credit score
• Create a personal “emergency fund” of up to $1500 and increase deductibles accordingly
• Discuss affinity discounts with your insurance provider
• Drop comprehensive and collision insurance on older vehicles
Kentucky Statistics
• Auto Theft: Kentucky has a relatively high vehicle theft rate, but it has been decreasing (as is the case in most states) consistently over the past 10 years. This can be attributed primarily to anti-theft devices being standard on recent model cars, as well as public awareness of the issue:
(Source: Auto Thiefs)
• Automobile Accidents: The total vehicle miles traveled in Kentucky has remained constant in recent years, but vehicle accident fatality rates have declined. Kentucky is above the national average in numbers of deaths in car crashes.
(Source: National Highway Traffic Safety Administration)
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