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Once a surcharge gets applied to your premium, theres little you can do to reduce the surcharge itself. However, you might be able to reduce your overall rate by qualifying for an auto insurance discount. The best scenario is to prevent insurance surcharges altogether.
What is the gross receipts surcharge in Kentucky?
Kentucky GRT Surcharge - Subject to sales tax - 1.30% - The Kentucky Gross Receipts Surcharge is passed onto customers by their Telecommunications Carriers based on the amount of Gross Receipts taxes that those carriers are required to pay to the State of Kentucky.
What is a surcharge fee in insurance?
Usually, when youre deemed 50% or more at fault for an accident, and the claim is over a certain dollar amount, your insurance company will consider the accident chargeable. Thats when theyll apply a surcharge to your premium.
Why is car insurance so high in Kentucky?
High Accident Rates: Kentucky has a higher-than-average rate of traffic accidents, leading to increased claims and higher premiums. Litigation Costs: The state has a higher frequency of lawsuits related to car accidents, which drives up insurance costs.
What is the insurance surcharge in Kentucky?
Kentucky law requires insurance companies to charge all policies written for its residents a surcharge of 1.8%. We are also required to assess your policy with a municipality tax which is based on the location of your residence.
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Kentucky annual surcharge report 2011 form printableKentucky annual surcharge report 2011 form pdf
See reverse for information or call the Department of Revenue, (502) 564-4810. Annual Filer. For Calendar Year 2011. Return Due January 20, 2012. INSURANCE.
If a report is divided into chapters, in any chapter after the one in which the abbreviation was introduced, spell out the name at its first appearance, with no
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