How You Can Be Saving Money By Properly Insuring Your Vehicle
Nothing is worse than being involved in an auto accident and not having insurance to help cover your damages. This is especially true if you are found to be at fault in an accident. A. Consider this: the average driver makes a collision claim for their vehicle once every 17.9 years! This means that if you’ve been driving your entire adult life, although auto insurance can seem like it’s a luxury, and you might think you’ll never need it, this is far from the truth. Chances are you’ll be involved in about 4 or more accidents. It’s essential to have adequate protection and auto insurance for your vehicle. This will help you save money in the long run.
Do I Need Auto Insurance?
Although you might think you don’t have to spend money every month on auto insurance, this is far from the truth. Auto insurance is required by law in all states, meaning if you don’t have car insurance, you can be fined, have your license revoked, and even have your car impounded. If you think the police won’t be able to find out you don’t have insurance, think again.
Let’s say you are involved in an accident and abandon your car because you don’t have insurance. Don’t think that the authorities won’t be able to find you. Your VIN, your vehicle identification number made up of 17 characters, is located within the driver’s side door and will always be a dead giveaway. Car insurance truly is one thing you can’t run away from!
Benefits Of Car Insurance
Fortunately, there are far more benefits of car insurance than there are downsides. Although you might have to pay anywhere between $50 to $200 a month in insurance fees, this is a small price to pay if you’re ever involved in an accident. For instance, if you’re involved in an accident where you were under the influence, you could receive up to 6 months in jail even if you’re a first-time offender in states like Connecticut. Add on the criminal charge of driving without insurance, and you’re looking at even more time in jail.
This means lost wages, lost time at work, and lost time with loved ones. It’s best to have car insurance and protect yourself from additional fines and charges. Even if you’re not the fault of an accident, car insurance can still cover you.
If your car is involved in an accident where someone else is at fault, their insurance will pay for the damages to your vehicle. You will still have to pay a deductible, ranging from $500 to $1,000. However, this amount is much less than the amount it would take to pay for the total cost of repairing your vehicles. This can range in the tens of thousands of dollars.
Choosing The Best Insurance Plan
Now that you know it’s essential to have auto insurance at all times, it’s essential to know how to save money and pay as little as possible for car insurance while still having adequate protection. Consider specialty plans for new or safe drivers when choosing an auto insurance plan.
Many insurance companies will award safe drivers with lower rates, meaning you won’t have to pay higher rates after being involved in an accident. Other insurance companies will also have accident forgiveness for new drivers. If you’re involved in a single accident, this can be forgiven, and you’ll be able to continue still to pay the same insurance rates.
Make sure to choose the plan that fits your budget, giving you adequate coverage. Having auto insurance will save you thousands of dollars in the long run.
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