Warning: You’re Losing Money by Not Having Car Insurance

Have you ever heard the expression, “Penny-wise but dollar-foolish”?

Sometimes we get so focused on saving every penny, we might end up making poor decisions that end up costing us hundreds or ever thousands of dollars.

Some decisions can have repercussions beyond money! Driving without insurance can result in a license suspension, which could affect one’s ability to earn a living.

The “What Ifs”

The purpose of insurance is risk mitigation. It protects us from the “what ifs”. What happens if you hit someone’s car? What happens if someone is injured and you’re deemed at fault? What happens if you’re stuck and need a tow truck?

Fortunately, auto insurance is fiercely competitive. Providers seek to provide you the best value.
For example, many insurers give you a discount on car insurance quotes if you also have homeowners, renters or life insurance policies with them.

Roadside Assistance

If your car becomes disabled while driving, auto insurance policies often give you a discount on a tow. However, without this roadside assistance, you’ll be paying out of pocket for a tow truck to remove your vehicle from the road and get it to a mechanic. Towing services could cost hundreds of dollars. Some car insurance quotes also include discounts at preferred mechanic shops when you need repairs or routine service on your vehicle.

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Accidents

When you drive, there is always a risk of getting into a car accident. Although most car accidents are minor mishaps, even a low-speed collision could result in expensive repairs. A bigger accident could also result in a lot of medical bills for you and anyone else involved in the crash. Without car insurance, you could be on the hook for paying for all of the car repairs and medical bills out of your own pocket.

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Legal Fees

If you get pulled over by the police for a traffic violation, you’ll be asked to provide proof of insurance. Those who do not have auto insurance could end up with some hefty fines. In addition, those driving without insurance could be penalized with license suspension or even license revocation. Getting your license back will cost additional fees after you provide the proof of insurance.

As you can see, maintaining car insurance is actually a wise investment. Check out these discounts on car insurance to see if you can save money while enjoying the peace of mind that comes from knowing that you’re protected.