Car insurance rates in Kentucky can differ widely between companies. A range of factors affect premiums, including age, driving record and coverage options – all which impact premium costs. A car insurance calculator is one effective tool that can help Kentucky drivers estimate their annual premium and compare providers in order to find the most economical policy option.
Kentucky requires minimum car insurance requirements of at least $25,000 of liability coverage per individual injured and $50k per accident, totalling a single limit policy of $60k for drivers in Kentucky. Uninsured drivers in the state face steep fines and possible jail time; it is wise for motorists to shop around and find policies within their budget to secure themselves against this potential risk.
Insurance companies calculate your rate based on various factors, but two that stand out the most are age and driving history. Younger drivers often pay more as they lack experience behind the wheel and are statistically more likely to get into accidents. Furthermore, they have an increased chance of being pulled over for speeding or distracted driving, which can incur fines and points on their driving record that could prove costly for young drivers.
DUI convictions in Kentucky can significantly raise car insurance premiums. Insurance providers consider DUI drivers high-risk drivers, so most require them to complete and submit an SR-22 form to Kentucky’s Department of Motor Vehicles to reinstate their licenses.
ValuePenguin used data compiled from major companies serving Kentucky to determine which had the most cost-effective car insurance policies, with Geico coming out as the clear leader, offering residents 65 and up an affordable premium that was 31% below national average; Travelers was second, while State Farm’s premiums for drivers under 65 was 23% cheaper.
Saving money on car insurance in Kentucky by increasing your deductible can be achieved easily, though this strategy might not suit every driver. When selecting your deductible amount, be mindful to choose something affordable in case of an accident or covered claim – also compare quotes from providers with accident forgiveness programs; such programs could potentially cut annual rates up to 46 percent after an incident has taken place.
The Kentucky Department of Insurance develops and enforces state insurance laws. Consumers can reach out to this body with inquiries or grievances about their auto insurers; file complaints when mistreated by insurers; use the Kentucky Insurance Complaint Hotline’s free service to connect with a trained counselor who can assist them with filing complaints; call 1-800-452-9211. For more information visit the Department of Insurance website.