Wed 29 Feb 2012
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Maybe you are thinking that who would know if you could drive a few months without insurance? Or one morning you get up and realize that you need to save money on your budget and first thing you think of is dropping auto insurance? This is a bad idea and you should think twice before going ahead. Your chances of getting caught is very high now that police uses special technology to check which vehicles are insured and which are not.
Then, there is the problem of dealing with claims. Don’t even think about the repairs to your automobile first. Think about the people you caused injures and damages. Who is going to pay for their losses? Do you have thousands of dollars sitting in the bank? Probably not and that is why you don’t want to buy a policy. But it is your responsibility regardless of being insured or not. They will still want compensation even it means it takes thousands of years for you to pay. They will keep taking it out of your wages.
Consequences of getting caught without insurance can be very serious depending on which state you are in. Some states will impound your car and you can only take it back when you have proof of insurance. There will be fines to pay as well and there could even be jail sentence if you caused an accident or this was your second offence.
Then, you will have to explain it to every company that you will get quotes to be insured. One of the first questions they ask before they give you a quote is if you are currently insured or not. And if not, when was your last policy. There is no mistaking that they don’t like people who let their policies lapse. In the best case scenario you will have to pay a little more for this choice.
Furthermore, you may not be able to claim for damages if someone else hits your car in some states. A few started adopting no pay no play laws that doesn’t allow uninsured drivers to make a third party claim on other motorists’ policies. It is only fair that you cannot make a claim on other if they cannot make on you. The table can quickly be turned around to penalize you. Think this if you don’t think about all those poor people who may not be paid after you cause an accident.
You cannot buy a policy without the third party auto insurance liabilities coverage. This means you cannot insure your automobile if you don’t insure third parties with a liability cover. Maybe you don’t care because your car is old and not worth a lot of money. Otherwise, you will lose your investment on it if it is totaled or you will have to pay the damages out of your pocket.
So far, you may have only considered one angle of the problem, saving money. But there are a lot more to driving without insurance than saving money. And there are many other ways of reducing your premiums.
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