Rick Howard: Can you expalin to me what are combined limits and split limits under an auto insurance policy? How do I review auto insurance limits for this?

Response: Please see the map attached for the auto insurance liablity limits for each state.
“Liability” is a legal term that refers to responsibility which one owes to another person’s injury or loss. While questions about who is liable for what are typically decided in court through the tort law as it is called. The liability settlements can be anywhere from thousands to millions of dollars. Having an insurance policy to protect you from such things is more than a good idea. In most states it’s the law.
Liability insurance is coverage from your car insurance company that pays the damages when you are in an car accident. Claims will cause an increase in your premiums, but that still far outweighs the alternative, which is a court settlement.

Liability insurance for cars comes in two basic types, based on how the insurance coverage limit is determined. The limit is the maximum your insurance company is required to pay on your behalf if you are in an accident. The different types are split limit and combined single limit policies.

A combined single limit combines property damage liability coverage and bodily injury coverage under one single combined limit. For example, an insured driver with a combine single liability limit strikes another vehicle and injures the driver and the passenger. Payments for the damages to the other driver’s car, as well as payments for injury claims for the driver and passenger, would be paid out under this same coverage.

A split limit liability coverage policy splits the coverages into property damage coverage and bodily injury coverage. In the example given above, payments for the other driver’s vehicle would be paid out under property damage coverage, and payments for the injuries would be paid out under bodily injury coverage.

Bodily injury liability coverage is also usually split as well into a maximum payment per person and a maximum payment per accident.
The split limits and the combined limits are smart ways for insurance companies to minimize their losses.

Now, here is a tip which you must always keep in mind that you must review both your split and combined limits individually and combined in order to decide whether they are optimum since for example if only one person is fataly wounded and that person is the key person if the limit per person (split limit) is only $500,000/- but your accident limit is 1 million you will get only $500,000 from the insurance company.
Review car insurance policy before you buy your insurance and even afterwards with any change.

Have a wonderful day.

David: I live in Kentucky and would like to know the basic things for car insurance for Kentucky.

Response: This is a very broad question and so will touch olnly on the basics. Let me know your specific question in relation to car insurance it you have one. Here is a tip I want you to keep in mind : Compare auto insurance quote and know the rules and regulations of your state alongwith reviewing your car insurance coverage at all times.

What is Kentucky car insurance?

Kentucky car insurance protects you from financial loss in the event of a car accident.

Essentially, your Kentucky car insurance policy acts as a contract between you and your insurer which states that in exchange for paying your premium, the insurer will pay for any losses or damages resulting from a car accident. Also remember that your car insurance rates depend upon the vehicle and the chances of car theft. For more information on theft of car and car insurance.

Can I drive without Kentucky car insurance?

No!

The State of Kentucky requires all motorists to carry liability coverage in the amounts of 25/50/10. In other words, you must be insured for the following amounts:

The penalties for driving without Kentucky car insurance are rather severe. If you are caught driving without Kentucky car insurance, you could face fines between $500 and $1000 as well as 90 days in jail.

The repercussions of driving without Kentucky car insurance may haunt you long after your legal obligations are met—you will be considered a high risk driver and therefore have difficulty finding affordable Kentucky car insurance.

What if I can’t obtain Kentucky car insurance in the normal market?

If you have been refused Kentucky car insurance in the last 60 days – and can provide proof of that refusal—you may be eligible for the Kentucky Automobile Insurance Plan, or KAIP.

According to the Kentucky Department of Insurance, KAIP can be purchased through regular Kentucky car insurance agents, or through a broker. Due to the expense of KAIP coverage, you will want to continue shopping for Kentucky car insurance in the normal market. You may cancel your KAIP coverage if you find more affordable Kentucky car insurance—any remaining funds will be prorated and returned to you.

Under what circumstances can my Kentucky car insurance cancel my policy?

The Kentucky Department of Insurance reports that your policy may only be cancelled if:

Can my Kentucky car insurance company choose not to renew my policy?

Yes.

Your company may choose not to renew your policy on account of claim frequency or traffic violations.

However, your company or agent cannot deny you renewal because of your age, your credit history or a disability not affecting mechanically assisted driving.

If you feel your policy was cancelled or non-renewed in error, you are encouraged to contact the Commissioner or Insurance within seven days of cancellation or non-renewal.

What if I still have questions?

For more information on KAIP and Kentucky car insurance, contact the Kentucky Department of Insurance at (800) 595-6053.

Your questions and querries are alwyas welcomed.