Who Actually Pays for Injuries Sustained in an Auto Accident?
In most cases the compensation for a driver injured in an auto accident is actually going to be paid by an insurance company. Insurance law comprises an entire semester long course in most law schools and can be very confusing, but the most important thing to know about insurance in Kentucky is the state minimum car insurance standard.
Kentucky Minimum Auto Insurance Coverage Requirements
In Kentucky, all drivers are required to carry minimum car insurance to cover at least $25,000 worth of bodily damages to each of the occupants of any vehicle that they have an accident with. This liability is capped however at $50,000 for all of the occupants in a vehicle. The driver who caused the car wreck is personally responsible for any damages that exceed the policy limits, but unless they have the assets to pay for the excess damages the victim usually will not be compensated for those.
Kentucky Auto Insurance For Property Damage Requirements
Kentucky also requires drivers to carry at least $10,000 worth of insurance for property damage caused by their vehicle. This insurance is used to help cover the cost of replacing or repairing your vehicle.
Increased Insurance Policy Limits
Of course many drivers in Kentucky elect to carry more than the state minimum car insurance level of coverage and our attorneys highly recommend that you do the same. If you cause an accident and the damages exceed your insurance limits you are responsible for the excess. If you own property or have retirement savings a victim can acquire these assets to help pay a judgment.