What Students Should Know About Auto Insurance Lifestyles


Because young people do not have as much driving experience as adults, they are considered a higher risk to insure when they start driving. This means that young people will generally pay more for auto insurance.

Kentucky requires vehicle owners to have personal injury liability insurance in the amount of $ 25,000 per person, $ 50,000 for accidental bodily injuries and $ 25,000 for property damage.

If you are leasing a car or financing one with a car loan, you may also need to purchase collision insurance and comprehensive coverage. The first pays for damage to your vehicle if you are involved in an accident. Comprehensive insurance covers, among other things, damage caused by hail, flooding, theft and vandalism.

“Kentucky drivers of all ages owe it to themselves and others to make sure they have auto insurance in the event of an accident,” said Kentucky Gov. Andy Beshear. “It’s an important part of being a good responsible citizen, something we should all aspire to.”

You may want to consider other auto insurance coverage options, according to the Kentucky Higher Education Assistance Authority (KHEAA). These include:

Personal Injury Protection, which helps you pay for your medical bills, lost wages, and out of pocket expenses.

Uninsured motorist, who helps cover medical costs if you are injured in an accident with a driver who has no insurance.

Rental Reimbursement, which pays a rental car if your car was damaged in an accident and is being repaired.

KHEAA is the agency that administers the state’s grant and scholarship programs, including the Kentucky Excellence in Education Scholarship (KEES). The agency also offers financial literacy videos on http://itsmoney.kheaa.com and free copies of “It’s Money, Baby,” a guide to financial literacy, for Kentucky schools and residents on request at [email protected]

Many KHEAA student aid programs are funded by Kentucky Lottery receipts.

For more information on Kentucky Scholarships and Grants, visit www.kheaa.com; write to KHEAA, PO Box 798, Frankfort, KY 40602; or dial 800-928-8926, ext. 6-7214.


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