The Consequences of Not Having Auto Insurance
By Amy Nutt
If you are one of those people who think auto insurance is a scam, beware. There could be some major payout in your future. Car insurance is extremely valuable, particularly in todays society as more and more people find themselves involved in accidents that arent even their fault. You can literally be the safest driver around and still end up in a car accident. While it may not have been your fault, you may still be liable for some of the damages and this is where it comes in very handy to have auto insurance.
It Could Be Illegal
Depending on where you live, chances are its illegal to drive without insurance, so youll want to make sure that you have the minimum required, which is liability. Even in areas where you arent required to have insurance per se, you ARE required to have the money to cover an accident. You will need to actually prove that you can pay for damages, should they occur. This could be a big problem if you dont have much money stored up in the bank.
Most drivers without auto insurance end up doing hit and runs, to avoid being caught, which usually results in jail time. Its not a good idea to drive without auto insurance, but this isnt the worst that could happen if you avoid it.
Since driving without insurance or the ability to pay for damages can hold some big consequences, you will want to know what they are in your area. Some states only charge a fine (often in the thousands) or impound your car, but many will include jail time.
Bigger Losses, Bigger Payouts
What happens if you are in a car accident and you havent purchased car insurance? You will be in big trouble, to say the least, particularly if the accident is deemed to be your fault. You will be responsible for any injuries and damages involved in the accident, which can grow very rapidly.
Not only will you be penalized for not having the appropriate insurance, you will also be required to pay out of your pocket. This can literally bankrupt someone and it can be extremely bad for your record. You could even lose your license, which negates the need to buy auto insurance after the fact.
A major car accident could end up costing you hundreds of thousands of dollars, plus fines and jail time. Its really not worth it when you consider how little you would pay each month for peace of mind with auto insurance. Not to mention, if you are the one injured in an accident and the other driver has no insurance, you are really going to be in trouble. Youll end up having to pay your own medical bills, which, as we all know, can get very expensive, very fast.
Driving without auto insurance could be the biggest risk youve taken in your life. While you will be saving money in the moment, theres no telling when (not if, but when) you will be in an accident and need that insurance. Rather than paying a minimal amount along the way, youll end up being responsible for everything all at once and thats a hit that most bank accounts just cant deal with.
Rather than risk your savings, its far better to invest in auto insurance and simply pay by the month or year, eliminating the need to lose everything when you have a collision. The minimal amount of insurance will keep jail and fines at bay and doesnt have to be terribly expensive.
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By Baron Von Faht
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