Insurance experts warn that with more underinsured and uninsured drivers on the road, it could only be a matter of time before they get in accidents involving law-abiding car owners. Exactly, few people realize how important it is to have their vehicles insured. Moreover, the present situation aggravates the decreasing number of people that owns car insurance; to cut back on many expenses and due to the poor economy.
To save money, there have seen dramatic changes in the way car owners buy insurance according to Industry analysts. Worse, some drivers have decided to decline insurance altogether. In fact, some states announced that as much as 29 percent of their car owners have no insurance like in New Mexico. Moreover, one out of every five motorist in California will have no insurance by 2010 if the unemployment rate continues to climb, Insurance officials in California recently announced.
However, a driver must take note that it is illegal to drive a car that is not insured in United States. You will most likely get a traffic ticket worth as much as $5000 and face losing your driving privileges if you are caught driving without insurance. Also, having this may help you save millions of dollars if a potential lawsuit is brought against you. So, it should come as a form of piece of mind to pay monthly premiums.
In some instances, driving without car insurance could lead to suspension of driving privileges and heavy fines or even jail time. Maintaining properly one’s insurance responsibility seriously is a matter for the state and local government. It is not an area that should be neglected.
Car insurance is never something should not be taken for granted for it provides the financial security that is required when driving a car. Often, people take the need for insurance lightly because they generally do not have problems driving. In fact, there is always the chance of an errant accident; fact remains that there can be a great deal of damage to person as well as property. In addition, having this we can try to avoid thinking about the tremendous financial liability costs that may result from such a situation. This is why car insurance is in mandatory by law.
It is essentially an act of protection to maintain proper car insurance. Remember to do your responsibilities not only to protect yourself, but also those on the road. Be mindful and never neglectful.