Online Auto Insurance News: Kentucky Sees Fewer Crash-Related Economic Damages

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A new report from the state police department showed that, while the total number of accidents increased between 2009 and 2010, total economic damages caused by crashes in the state decreased.

The fact that automobile accidents cost Kentucky less last year—despite an increase in the number of crashes—could potentially lead to a small drop in Kentucky car insurance rates, according to Online Auto Insurance.

A new report from Kentucky authorities shows that drivers got in nearly 2,800 more accidents statewide in 2010 than the previous year, but estimated costs associated with those collisions fell by nearly $70 million.

That can be explained by the fact that crashes in which someone was hurt or killed decreased across the state, while those in which only property was damaged increased. Safety officials and insurance industry experts say that property-damage-only accidents cost far less than crashes that result in death or injury.

According to the National Safety Council, the average cost of a fatal crash in 2009 was $1.3 million, while a nonfatal but disabling injury accident cost about $68,000, and a property-damage-only crash racked up an average of $2,400 in economic costs.

The Bluegrass State had a more than 4 percent drop in the number of roadway fatalities and a more than 9 percent decrease in incapacitating injuries in 2010.

Those statistics are in keeping with recent trends involving motor vehicle crashes nationwide.
Federal safety officials say fatal crashes decreased by nearly 9 percent from 2008 to 2009 and injury crashes fell by an estimated 7 percent. Crashes in which only property was harmed dropped by 4.5 percent.


The reduction in injuries and deaths as a result of crashes is not guaranteed to translate immediately into lower premiums for Kentucky drivers. But it could lead to lower policy rates if the numbers correlate with insurers’ numbers and if they see a significant drop in claims payouts.

To read more about this and other safety and insurance issues, go to where you will find informative resource pages and a free-to-use quote-comparison generator that consumers can use to get sample premiums for many vehicle makes and models.

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Gregor McGavin
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