Kentucky High Risk Auto Insurance
Kentucky high risk insurance coverage is necessary for drivers considered to be "high risk." Liability coverage is required as is basic no-fault personal injury coverage. There are around 137 different companies offering auto insurance policies. Some possible candidates include Direct, Geico, Nationwide, Progressive, and Statewide.
Tort or No Fault is the Consumer's Choice
Kentucky offers drivers a choice whether to participate in the no fault system or the tort system when dealing with accidents. If one participates in the no fault system, Personal Injury Protection coverage of $10000 is required in addition to the mandated $25000/$50000 bodily injury liability and $10000 property damage. In addition, drivers may choose the "single limit" plan with coverage of $60000. These figures are the minimum allowable coverage. Higher coverage amounts are strongly recommended. Participation in the no fault system may limit one's right to sue the at fault driver in the event of an accident.
No Fault Caps Personal Injury Compensation
Under the no-fault plan, compensation for personal injury is up to $10000 regardless of who caused the accident. Kentucky drivers can choose to reject no-fault insurance plans. Sending a completed request form to the Kentucky Office of insurance is required. Forms can be obtained from your insurance agent.
No Fault Does Not Equal No Penalties
Kentucky has some very stiff penalties for not having proof of insurance in the car with you. A first offense can result in a fine of $500 to $1000 and/or up to 90 days in jail. In addition, courts can suspend one's license plate and registration for up to a year or until proof of insurance is provided. High risk auto insurance is not limited to the habitual offender. Be cautious and understand your rights before you shop for an auto insurance policy.