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Car insurance is expensive; there is no doubt about that fact. But like taxes, it is one of those things that we just have to pay. It may seem like an easy option to just let your insurance slide, especially when facing financial difficulties as many Americans are today. But the reality is, that if you own a vehicle or drive, you must be insured.
The consequences for driving without insurance vary from state to state, and perhaps even county to county. You are required to show proof of insurance anytime you are stopped by a police officer. In the event you do not have insurance, you will at a minimum be cited and have to appear at court. The court fees are your responsibility, along with any fines. And they will force you to get the insurance you should have had in the first place, and that is if you are lucky. In some areas driving without insurance will not only cost you court fees, fines and the cost of insuring your vehicle but also vehicle impoundment fees, loss of license and jail time. And this is just thinking you simply get pulled over for a traffic stop.
The real damage is done if you are in an accident without having proper insurance. You could find yourself responsible for the damages to your own car, other cars involved in the accident, medical bills for yourself as well as other people involved in the accident... the list goes on and on. Medical bills alone for one person in a serious accident can run into the hundreds of thousands. In the blink of an eye, you can find yourself in the midst of a legal and financial nightmare, and simply put, losing everything you have worked for including your house.
Obtaining car insurance does not have to be extremely expensive, although if you have gone without coverage for more than thirty days you will likely pay a higher premium than someone who has maintained the minimum amount required by law. Look into your states requirements, and at the very least carry those amounts of insurance on your vehicle.
Unless you make car payments, you can generally get by with basic liability coverage. Depending on several factors including the type of car you drive, your driving record, your lifestyle (a spouse and children will pay off for you in this regard), and your age basic liability may cost you as little as $50 a month. Shop around and get quotes from a minimum of five companies, even more if you do not find a quote you are happy with.
If you absolutely cannot afford car insurance, look into other transportation methods while you get back on your feet financially. No matter how you look at it, driving without insurance is not a risk you should take.
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