Every car crash is different from the next. Factors including the location, the type of vehicles involved and the angle at which they collide influence the extent of damages and injuries generated in a crash. Those who are at fault for collisions have financial liability and need to reimburse the people affected by the crash. Car insurance helps people fulfill that responsibility.
Most motorists do not have enough money in their savings accounts to fully cover the expenses generated in a car crash scenario. Instead, their insurance policy helps pay for the economic losses suffered by the other people involved in the wreck.
Every driver in Kentucky needs to carry a policy that meets state minimum requirements. How much insurance money can people count on having access to following a major car crash when they bought the minimum insurance coverage required by state law?
Coverage requirements are somewhat low
Every driver in Kentucky must have proof of liability insurance coverage. The state mandates both property damage coverage and bodily injury coverage. The lowest amount of insurance a driver can carry while complying with the law is $25,000 of both property damage and bodily injury liability coverage.
The $25,000 bodily injury minimum applies in cases where one person sustains injuries. Drivers must carry a minimum of $50,000 in injury coverage per crash in case more than one person sustains injuries in a single incident. While drivers do have the option of carrying additional coverage, many people attempt to keep their costs low by minimizing the coverage they carry.
What if insurance isn’t enough?
In scenarios involving brand-new vehicles or severe injuries, baseline coverage may be inadequate. Injured people and those with massive property damage losses may not be able to collect what they require to pay all their costs through insurance alone.
In such scenarios, they may need to look into filing a personal injury or wrongful death lawsuit against the driver who caused the crash while carrying insufficient coverage. Even if the policy is theoretically large enough to pay for crash costs, the people affected by a collision may need help negotiating with insurance providers. Companies often try to settle claims for less than the policy limits and the total costs generated by a wreck.
Understanding the coverage available is an important first step toward justice for those involved in motor vehicle collisions. People who seek professional guidance when reviewing insurance documents and negotiating with companies may have a better chance of getting the financial compensation they deserve.
