Auto Insurance. Don’t Drive without Insurance!.
Driving without insurance is a risky proposition. Although it might save you money in the short run, the potential long-term consequences make these savings not worth the risk. For one, you could face serious legal repercussions for driving without insurance. But legal woes are probably the least of your worries. If you are uninsured and are in an accident that is your fault, you will be financially responsible for paying for the damages and injuries of the parties involved. Unless you’re independently wealthy, that means one minor fender bender could jeopardize your assets and put you on the brink of bankruptcy.
Driving without insurance is dangerous and expensive.
Most states require that you carry minimum levels of liability coverage. If you are caught driving without the mandatory levels of insurance, you could face an array of unpleasant consequences. In some states, your vehicle tags may be revoked and the car impounded. Other states charge uninsured drivers heavy fines, usually ranging from $150-$500. You might also have your license revoked for a certain period of time if you fail to provide proof of insurance.
Though not every state requires you to carry liability insurance, all states do have at least a financial responsibility law. Those states with financial responsibility laws do not require drivers to have liability coverage with an insurance company, but they do require that all drivers prove that they are financially able to cover their liability in the event of an accident. In these states, any of the following items qualifies as proof of financial responsibility:
If you’re driving without insurance, you will have lapses in coverage on your record. That means that if you ever apply for an auto insurance policy, your prospective insurer will find this out. To insurers, lapses in coverage are red flags for high-risk drivers. Any lapse in coverage, no matter how short, could result in sky-high premiums or your insurance application being denied.
Auto insurance can be a very expensive necessity. A good policy can cost you anywhere from a few hundred to a few thousand dollars a year. This can be quite the strain on your budget if you are overpaying for your auto insurance. To reduce this strain, we’ve compiled ten simple tips to help you lower your auto insurance premiums by as much as 40%.
Here’s what you can do:
4. Drop collision & comprehensive for older cars. If you drive an older car with little to no cash value, collision and comprehensive coverage will do you no good. The insurance company will only reimburse you for damages up to the cash value of the vehicle.
6. Drive less. Most insurers offer low-mileage discounts to policyholders who drive less than a certain number of miles per year. You can use the bus, carpool with friends, or take a plane when driving to another state to save on mileage.
8. Select a low-profile car. Sports cars and high performance vehicles will cost more to insure because they are a higher theft risk and the drivers of these vehicles are more likely to be reckless. Large vehicles and new cars also cost more to insure. Low-profile cars include relatively small, safe sedans.
10.Ask about other discounts. Insurers offer a plethora of discounts, but you usually have to ask about them first. Ask your agent about discounts for which you might be eligible.
Taking the big plunge will radically alter your life, and your car insurance policy is no exception. Once you get married, you will need to change your coverage so both of your policies are from the same company. If you both already have policies from the same insurer, then you should contact your agent about purchasing a single policy together. After you get these logistical issues squared away, there is good news: getting married almost always saves you money on your car insurance. Statistical data indicate that married people are less of a claims risk than their single counterparts, and, as a married man or woman, you will reap the rewards—lower premiums. In this post, we’ll give you some basic information about marriage and car insurance and explain how to go about merging your policies.
Here is some helpful information about marriage and car insurance:
Test your driving knowledge!