Should I settle with my insurance company after a car wreck in Kentucky?

If you were injured in a car accident in Kentucky, you should be entitled to compensation if you were not at fault. Most cases involving car accidents are settled out of court. Settlement is a faster and more cost-effective resolution than taking a case to trial.

How long does an insurance company have to settle a claim in KY?

Insurance companies in Kentucky have at least 45 days to settle a claim and make a payment after the claim is filed. Kentucky insurance companies must also acknowledge a claim within 15 days.

Is Kentucky a no-fault state for car accidents?

Yes, Kentucky is a “choice no-fault” state, which means that, by default, drivers in Kentucky are required to carry PIP coverage on their auto policy and file accident claims through their own insurance first, but the Commonwealth does allow drivers to opt out of the no-fault system by request.

How long after a car accident can you sue in Kentucky?

2 years
If you sustained bodily injuries in a car accident which was caused by another party and those injuries exceed Kentucky’s no-fault law thresholds, then, in most cases, you have 2 years from the date of the accident or the last PIP payment, whichever is later, to file a personal injury lawsuit against the at-fault party …

What is the minimum auto insurance coverage in Kentucky?

The required minimum coverages and limits to register and operate a vehicle in Kentucky are: Bodily injury liability: $25,000 per person and $50,000 per accident. Property Damage liability: $10,000 per accident. Uninsured Motorist coverage: $25,000 per person and $50,000 per accident*

Do you have to have a police report to file an insurance claim in KY?

As a driver in an accident, you must file a report if police don’t because the law requires it. Failure to file a written accident report when required is punishable by a fine of $20 to $100. But there’s more to it than that. You must have an accident report on file to make an insurance claim after a car accident.

How long does an accident stay on your driving record in Kentucky?

If you’re found responsible for an auto accident, you should expect your car insurance rates to go up. In Kentucky, the mean insurance rate following an at-fault crash is $3,291, versus the U.S. average of $2,012. A serious accident such as an at-fault collision will stay on your insurance record for up to three years.

How does Kentucky no-fault insurance work?

“Choice No Fault” Car Insurance in Kentucky In a traditional no-fault state, each driver turns to his or her own car insurance policy to get compensation for medical bills and certain other financial losses stemming from the accident, regardless of who was at fault.

How much is car insurance per month in Kentucky?

Car insurance in Kentucky costs $78 per month, on average, or $931 per year. The average cost of car insurance in Kentucky is 29% higher than the national average auto insurance premium, and Kentucky ranks 40 out of 50 for the most affordable car insurance rates in the U.S.

How does car accident settlement work in Kentucky?

Kentucky follows the “no-fault” system when it comes to car insurance and car accident settlement. This means your insurance will pay your injury claims up to a specified limit. Kentucky requires every driver to carry basic personal injury protection (PIP) coverage on all motor vehicles (except motorcycles).

How often does a car accident occur in Kentucky?

Kentucky’s thousands of miles of roadways are used by millions of drivers every year. Whether you’re a Kentucky resident or a passerby on a road trip, you should be aware of Kentucky laws and requirements to protect your rights in case of a car accident.

How long do I have to file a Kentucky car accident lawsuit?

How Long Do I Have to File a Car Accident Lawsuit in Kentucky? You have one year to file a lawsuit for personal injury and two years for property damage. The time starts to run on the date of the accident. If you don’t file a claim within this time period, courts will deny your case and you won’t be able to recover any damages.

Are there any car accident damages caps in Kentucky?

In Kentucky, there are no car accident damages caps. The state allows you to recover both economic and noneconomic damages, which typically include costs for vehicle repair or replcaement, pain and suffering, medical expenses, rental cars, lost wages, and loss of affection or companionship.

When to file a car accident report in Kentucky?

Yes, you must file a written accident report with the Kentucky State Police within 10 days of the accident if: You think the damage to vehicle will exceed $500 The car accident resulted in injury to or death of any person

What happens if you drive without insurance in Kentucky?

Don’t expect to get out of facing penalties for driving without insurance in Kentucky. State law outlines the following consequences should you decide to forgo insurance coverage: While liability and PIP coverages are all that is required by Kentucky law, there are many other great options available to add further protection.