As tempting as it may be to ditch out on or postpone purchasing auto insurance, you’d better think twice before doing so. In most states it’s required by law to always have insurance on the vehicle you drive or you’d better be able to provide proof you’ve got enough money to repair any damages if you’re in an accident. You’ll soon realize the benefits of paying a monthly fee to insure your vehicle will help you sleep better at night knowing you’re covered.
You may be an excellent driver and think I’ll never cause an accident. While your driving record may reflect your thinking, you cannot assume you’ll never cause an accident. There aren’t enough good drivers on the road to make up for all of the bad drivers. Although your intentions are good to assume you won’t be the cause of an accident, there’s always the possibility of causing an accident while trying to avoid another bad driver. If you swerve to avoid an unexpected object in the road or as a result from getting cut off and subsequently hit someone, you could be found at fault. Those types of circumstances are unpredictable and are reasons why you should never be without the safety of auto insurance.
More unpredictable situations include weather-related accidents. As much as you avoid driving in rainy or snowy conditions, there are times when you must. Roads become very slippery during rain and snow storms and despite careful maneuvering, you could still slip, spin, or slide into an object or another vehicle.
There’s also the possibility of being hit by an uninsured driver. Obviously you have the choice to sue the driver to get the monies needed to repair your vehicle and be compensated for any medical expenses or future medical expenses, but this will take time and money out of your pocket until you receive payment. Usually drivers are uninsured because they can’t afford insurance. If they can’t afford insurance, how will they afford to pay you for any damages? Obtaining uninsured motorist liability will get you coverage you need for this situation.
What if you’re on the other end of that story, and you’re the uninsured driver at fault for the accident? You could be the one getting sued to pay for damages you’ve incurred on another driver. You could be the one financially responsible for medical bills of another party. If you had auto insurance at this time, you wouldn’t have to pay for these expenses out of your own pocket.
Although illegal, hit-and-run accidents occur more frequently that you would think. If this were to happen to you, you would be stuck with the cost of repairing your vehicle. Any medical expenses you incur may be paid through your health insurance if you have it, but it would be more beneficial to have your auto insurance cover any medical expenses your health insurance doesn’t pay for. For example if your health insurance only covers 80% of the cost, and you’re responsible for 20%, a specific coverage on your auto insurance policy may be able to cover that amount. You may be tempted to forego fixing your vehicle to save money, but minor damage can lead to more damage such as rust issues and major damage can leave parts of your car lying on the road as you drive home.
The next time you’re on the road, take a good look around at the cars you pass. How much do you think those cars are worth? If you or a member of your family were responsible for wrecking one of those cars, how much would you have to pay, or be sued to pay, for repairs on that car? What if you were required to replace the car entirely because it was totaled?
Carrying adequate auto insurance takes the “what-ifs” out of your driving life. You no longer need to worry so much about what would happen to you financially if you were the victim of an accident or the person at-fault (again, despite your driving record). Going with an auto insurance company that you can rely on will provide peace of mind. There are many auto insurance companies to choose from, and you’re invited to shop around. Research the kinds of policies that are available to you and any family members you may add to your policy.
After you’ve done your research and know what coverages you want, get quotes from local companies. Ask each company what policies they offer, how much they are, minimum coverage amounts, what they recommend, and what their most popular coverages are. Review each company’s offers and carefully decide what you purchase. Keep in mind the state’s requirements may not be sufficient enough to financially protect you in an accident. Some state requirements are $15,000, which is not enough to replace most new cars on the road today.
The total cost of your policy may initially seem like more money than what you wanted to pay for auto insurance. You have the option to break this cost into more manageable monthly payments, which is sometimes easier to work into a budget. Here, it is important to remind yourself that the cost of your policy could be substantially cheaper than literally paying for the consequences of an accident.
Why do you need auto insurance? You need it to cover the times when you’ve tried to avoid an accident but just weren’t able to. You need it to cover the times you hit black ice and spin out, hitting the median. You need it to make sure you’re not going to have to pay for someone else’s mistake when they don’t have insurance, as well as you paying for your own mistake because you didn’t have insurance. You need auto insurance because it’s the law and you will be fined and possibly arrested if you do not carry it.
