Madisonville Car Insurance

Everything You Need to Know About Car Insurance in Madisonville, KY

Find the right car insurance policy for you.

Vehicle owners in Madisonville, KY are required by law to carry car insurance. Accidents are unexpected events that can happen anywhere whether you are crossing through town on South Main Street, merging into traffic on the Pennyrile Parkway or just driving down back roads on your way to pick your kids up from school. The good news is that when you have a suitable Madisonville auto insurance policy backing you up, you do not need to worry about the financial burdens that may arise in the wake of a motor vehicle accident.

Independent insurance agents in our network make it easy to find great insurance at an affordable price. These agents can answer your insurance-related questions and explain your various car insurance options. They can then contact a variety of reliable insurance companies to gather some customized Madisonville car insurance quotes for you to compare. Find an agent in or near Madisonville to learn more.

  • National average cost per year: $1,311
  • Kentucky average cost per year: $1,341
  • 21st most expensive auto premium in the U.S.

Auto insurance rates in Kentucky are about the same as the national average, but that does not mean you don’t run the risk of overpaying for your policy. Of course, the rates listed above will only give you a general idea of what you might expect to pay. Actual rates vary significantly from one person to the next because each insurance company calculates risk according to a number of different factors. Some variable each insurance company might take into consideration include the following:

  • Your ZIP code and parking location
  • The approximate number of miles you drive each month
  • The make, model, year and safety features of the vehicle(s) you wish to insure
  • The age, sex and marital status of all licensed drivers in your household
  • The driving records and claims histories of all licensed drivers in your household
  • The amount of liability coverage you wish to purchase
  • The coverage options, if any, you wish to include with your policy
  • The deductible amount you are requesting
  • Your qualification for any discounts

Each insurance company has its own unique way of assessing risk and designating rates. Therefore, comparison shopping puts you at an advantage by allowing you to choose the Madisonville auto insurance policy that provides the best value for your money.

Kentucky Car Insurance Requirements

  • Bodily injury liability: required
  • Property damage liability: required
  • Personal injury protection (PIP): required
  • Uninsured motorist coverage: not required
  • Minimum liability limits: 25/50/10: Coverage up to $25,000 for all persons injured in an accident, subject to a limit of $50,000 for one individual, and $10,000 coverage for property damage

These minimums are usually enough to cover the liability costs of most vehicular accidents; however, a major collision that involves severe injuries or property damage can easily exceed these limits. If that happens, you are responsible for making up the difference out of pocket. You can best protect your assets by purchasing coverage with higher liability limits. Failure to carry auto insurance that meets or exceeds Kentucky’s minimum coverage requirements is a Class B misdemeanor and has serious consequences. If you are caught driving while uninsured, you can be subjected to any or all of the following penalties:

  • Suspension of your license plate for up to one year
  • Fines as high as $1,000
  • Incarceration for up to 90 days

Worse, you could also be placed in a high-risk category of drivers, and this can lead to a dramatic increase in your car insurance rates. Simply put, it’s not worth taking the chance.

Number of Uninsured Motorists in Kentucky

  • Number of uninsured U.S. drivers: 12.6%
  • Number of uninsured Kentucky drivers: 15.80%

Regardless of Kentucky’s harsh penalties, a significant number of drivers in this state are out on the roads without insurance. If you are involved in a motor vehicle accident and the at-fault driver is uninsured, that person is still responsible for covering your damage and any necessary medical treatments. Unless you have uninsured motorist coverage as part of your Madisonville car insurance policy, you need to attempt to collect compensation from this driver on your own – and that can be a difficult, if not impossible, endeavor.

The good news is that if you have uninsured motorist coverage included with your Madisonville auto insurance policy, you don’t need to worry. In this instance, your insurance company covers your damage upfront and then attempts to collect funds from the offending driver on its own. This optional insurance also covers damage and injuries resulting from accidents with hit-and-run drivers.

Number of Auto Thefts in Kentucky

  • National number of thefts per 1,000 vehicles: 2.94
  • Florida number of thefts per 1,000 vehicles: 1.87

The rate of car theft in the state of Kentucky is lower than the national average; and in Madisonville, the rate is even lower. In recent years, there was a total of 17 reported auto thefts in this city. That equates to about 0.86 thefts per every 1,000 vehicles – less than half the state’s already low average. In the unlikely event that your car is stolen, you can receive compensation from your insurance company only if your Madisonville car insurance policy includes comprehensive (or “other than collision”) insurance. This insurance also covers damage caused by other noncollision-related events such as falling objects, flying debris, floods, vandalism, and fires.

Find the Best Madisonville Car Insurance Policy

You should not pay more than you have to for your auto insurance. If you are looking for a competitively priced Madisonville auto insurance policy that will provide all the coverage you and your family need, you can benefit from working with an independent agent in our network. These agents work with several different insurance companies, so they can collect a variety of customized policies and quotes for you can compare. There are several local agents located throughout the state of Kentucky, and some live in or near the city of Madisonville. 

Find a local agent to get more information about your coverage options, and discover how easy it is to save money on your premiums by comparing Madisonville car insurance quotes. 

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