| Category: | Insurance agency, |
|---|---|
| Address: | 10605 Shelbyville Rd # 100, Louisville, KY 40223, USA |
| Postal code: | 40223 |
| Phone: | (502) 327-8909 |
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Purpose The Kentucky Automobile Insurance Plan (KAIP) was created in 1948 to provide basic automobile insurance coverage to eligible risks who seek and are unable to obtain coverage through the voluntary market. Underwriting results and expenses of the Plan are shared among all companies writing automobile insurance in the state of Kentucky.
Kentucky Car Insurance In Kentucky, car insurance is mandatory, and the Kentucky Transportation Cabinet (KYTC) is focused on reducing the number of uninsured drivers in the state. If you are found to be driving without current auto insurance, you are subject to a number of penalties, so make sure you understand your responsibilities.
Kentucky is what's known as a no-fault state. This means that drivers must first go through their own insurance to cover injuries up to the limits of their own personal injury protection (PIP) coverage. This coverage pays out regardless of who is at fault and covers you and everyone in your vehicle.
Better car insurance comes with a price: in Kentucky, a comprehensive policy with a $1,000 deductible costs $1,718, 160% more than liability-only car insurance. For a comprehensive policy with a $500 deductible, you can expect to pay around $2,017 annually. It's worth noting that Kentucky is a no-fault state.
Kentucky Automobile Insurance Plan is a subordinate organization under Kentucky Life and Health Insurance Guaranty Association (KLHIGA). Total revenues $416,393 2020 20162017201820192020$0$0.2m$0.4m Total expenses $689,376 2020 20162017201820192020$0$0.4m Total assets $1,460,458 2020 20162017201820192020$0$1m$2m Num. employees 10 2020
Kentucky car insurance state minimums. Coverage type. State requirements. Bodily injury liability. Helps cover expenses related to the injury or death of another driver or a pedestrian when an accident is your fault. $25,000 limit per person/$50,000 limit per accident¹. Property damage liability. Helps cover expenses related to the damage of ...
All drivers in Kentucky are required to have at least a minimum amount of car insurance, although there are some types of coverage that Kentucky drivers can decline if they refuse in writing. Bodily injury liability coverage per person: $25,000 Bodily injury liability coverage per accident: $50,000 Property damage liability coverage: $10,000
An owner may not operate a vehicle in Kentucky until insurance has been obtained. According to the statute, an owner who fails to maintain insurance on his vehicle shall have his vehicle registration revoked. In addition, the vehicle owner, as well as the vehicle driver, are subject to a fine of $500.00 to $1,000.00, up to 90 days in jail, or both.
Producers submitting commercial applications or policy change endorsements requiring a Federal Highway Administration (FHWA) or Federal Motor Carrier Safety Administration (Motor Carrier Act of 1980 or Bus Regulatory Act of 1982 - Motor Carrier Endorsement - MCS 90 or 90B) filing or endorsement must complete the CAIP Inspected Units Form.
v UNIVERSITY OF KENTUCKY ROSENBERG COLLEGE OF LAW OFFICE OF CONTINUING LEGAL EDUCATION 660 South Limestone Lexington, Kentucky 40506-0417 Phone (859) 257-2921