Anyone who owns a car in Kentucky should have minimum liability coverage on their insurance. Sometimes minimum liability coverage isn’t enough, especially if you find yourself in a catastrophic accident. Your auto insurance should ensure you, any passengers and the other driver are covered in an accident.
The thing about auto insurance, however, is that most people don’t look closely enough at what their policy covers. Many people just get the lowest type of coverage while others have policies that they’ll never bother using. How do you know you’re getting the right coverage if you’re in an accident?
Here’s what you should know:
Why you need basic auto insurance
Not only is it a law that Kentucky drivers should have minimum liability coverage, but your auto insurance could protect you from living with the consequences of an accident, largely from an accident caused by someone without insurance. Liability coverage, or third-party coverage, protects against claims issued toward liable parties who are at fault for injuries and damages to someone’s property.
Your insurance provider should also support you, your passengers and your vehicle with first-party coverage – or bodily injury, property damage and collision coverage. This form of extended protection is, typically, added on with basic coverage, however, is often limited to collision only, excluding theft or vandalism.
Getting additional insurance policies
Drivers who aren’t insured or can’t afford basic insurance may not be able to take financial responsibility for damages they may cause. Drivers may be able to get uninsured motorist insurance to help provide compensation for damages or medical bills.
Your vehicle could suffer damages from theft, fires, vandalism or extreme weather. People who have comprehension coverage may be able to pay for a replacement or repairs.
Motorists may also consider getting rental car coverage. An accident could prevent you from using your car forthrightly. During this time, you may need a rental car while your vehicle is out of service.
Don’t forget about deductibles
Nearly every form of insurance has some kind of deductible. A deductible is the amount you pay out of pocket before your insurance company pays for injuries, repairs or accidents. Paying a higher deductible often means you’ll have to pay for a lower premium.
Insurance could help reduce your losses in a serious accident. However, no matter how much insurance coverage you get, there may be an auto accident that requires the need for legal help.