Insurance premiums are not the worst topic of conversation in The Bluegrass State. In 2007, the average homeowners insurance premium for a Kentuckian was $578, which was nearly $250 less than the U.S. average, according to the Insurance Information Institute. Kentucky was also placed well-below average in terms of auto premiums coming in at $720 compared to the U.S. average of $816. It goes to show you, it's not always the best to lead the pack. Regardless of whether your Lexington insurance quotes are right in line with the averages or if they lie a bit above or below those marks, it's good to assess your insurance needs and adjust your policy to suit them.
Lexington Auto in a Nutshell
Protecting yourself with liability auto insurance in The Thoroughbred City isn't just smart, it's the law. You are required to have liability coverage in the amounts of $25,000 for bodily injury to one person per accident, $50,000 for more than one bodily injury per accident, and $10,000 for property damage per accident on your Lexington insurance policy. And, seeing as Kentucky is a no-fault state, you must also carry personal injury protection insurance to help pay for your medical expenses, lost wages and/or funeral expenses in the event you're in a collision regardless who is at fault. Although you are not obligated by state law to carry comprehensive and collision auto insurance, your lien holder will require it to protect the loan given to you. No matter what your Lexington insurance needs are, it would do you well to shop around to see if you're getting the most affordable Lexington insurance coverage.
Factors That Affect Your Homeowners Insurance
The construction and value of your home are two important factors that help calculate your Lexington insurance quotes. Just like the tale of the Three Little Pigs, your house is more likely blow down if it is constructed from materials like wood. Materials like stone and brick are sturdier and will accrue less damage from wind or fire, unlike wood. The Insurance Information Institute recommends you multiply the total square footage of your home by local building costs per square foot to determine the amount of insurance you need. A local real estate agent, builders association or insurance agent should be able to assist you in finding out construction costs. A few more factors that will determine your homeowners insurance rate are the age of your house, your proximity to a fire station, and the contents your wish to insure other than the house itself. Be specific in your assessment of your needs to get the most accurate Lexington insurance quotes.
Don't horse around with your Lexington insurance policies. Keep them up-to-date and be sure to mention if you've installed any security devices to your vehicle or home, and include any significant home improvements to make certain your needs are being met. Insurance rates fluctuate often, so even if it's only been a year since you last reviewed your policies it would do you well to check on them. You can check to see if your current insurance provider is giving you the best, most affordable coverage simply by filling out a form at NetQuote.com. NetQuote will then match your information with several Lexington insurance companies that suit your needs.