Wednesday, February 24, 2010

How are Auto Insurance Rates Set in Kentucky?

Insurance companies evaluate each applicant individually, and they use a variety of factors. When buying auto insurance in Kentucky, remember that insurance companies need your business just as much as you need their promise of protection.

The process by which insurance companies consider applications is called underwriting. Each company follows different guidelines for underwriting, and therefore you will get different premium quotes from different companies. The most common factors used are:

Driving Record

This is the most important thing to the insurance company. “Safe drivers” are rewarded with the lowest insurance rates.

Where You Live

The area in which you live can influence your auto insurance premium. Insurance companies analyze categories of data including (but not limited to):

• Population density

• Number of vehicles on roadways at any given time

• Road conditions and maintenance

• Auto accident statistics

• Auto repair and replacement costs

• Medical care costs

Generally speaking, people living in cities pay higher premiums than those in rural areas.

Automobile Type

If you purchase a brand new luxury sedan, or a super-fast sports car, you will pay a higher rate for auto insurance than if you were to buy that dependable used sub-compact car. The evaluation of this factor is usually based on the following:
· Style & type of vehicle (Sedan, SUV, station wagon, sports car, etc)
• Actual Cash Value (ACV)
• Cost of repairs, replacement and maintenance
• Likelihood of theft
Use Of Automobile
The more you drive, the more you pay. If you commute twenty miles to work everyday, your premium will be higher than if you only drive to the grocery store once a week. It makes sense: The daily use of your automobile increases your chances of being in a wreck, which increases your risk to the company, therefore increasing your premium.
As you are prepare to buy auto insurance, sit down and think about the factors just described and apply each one to your current situation. Remember: The better you look to the insurance company, the better your auto insurance policy will look to you!

Thursday, February 18, 2010

7 Mistakes Car Wreck Victims Make in Kentucky

This is like Letterman’s Top Ten List, but it’s no laughing matter. Once a crash happens, there are things you need to do, and things you need to avoid doing, that are important:
1. Failing to take action at the crash scene to preserve your rights will hurt your case. Make sure the police know your side of the story, and that your account gets documented in the accident report. Check to make sure others are okay, but do not discuss fault for the wreck with anyone other than the police;
2. Failing to document all of your injuries, medical treatment, and symptoms will hurt your case. Write down everything you remember about the crash as soon as you get home. Remember, you can only be compensated for what you can prove;
3. Failing to get medical treatment for your injuries. Many people have symptoms soon after a wreck, but they hold off getting medical treatment in the hope that the pain will go away. Do not make this mistake! Get treatment for your injuries promptly and do what your doctor tells you to do;
4. Talking to an insurance adjustor before talking to an attorney is not smart. Do not give a recorded statement and do not sign anything until you seek legal advice;
5. Failing to hire a qualified and experienced lawyer. Lots of people fail to hire an attorney because they don’t want to pay the fee. But if you don’t have a lawyer, you won’t know if you’re getting a fair shake from the insurance company. Hire a lawyer who concentrates in injury law;
6. Not being fully honest with your lawyer. When a client fails to tell their lawyer about ALL past injuries they’ve had, it hurts their case. You MUST tell your lawyer everything, and do it EARLY on;
7. Exaggerating your injuries will BADLY hurt your case. In an injury case, as in life, the best practice is to be totally honest. The fastest way to ruin your case is to over-blow your injuries, so that doctors end up not believing anything you say.

If you are involved in a car wreck, and especially if you get injured, you need to avoid making the mistakes listed above. I hope this information helps, and I wish you safe driving!

If you have been injured in a car wreck, call the Frank Jenkins Law Office to get your questions answered. Call toll-free: 1-800 CAR WRECK (227-97325) or visit our website at
You can also get my information-packed books FREE:
"7 Mistakes Car Wreck Victims Make in Kentucky, and How to Avoid Making Them"
and my NEW book: "The Ultimate Guide to Buying Auto Insurance in Kentucky"
Just call or visit our website, request one or both books, and we'll send them to you FREE!