Insurance is defined as the “secure payment of sum of money in event of or against loss of or damage or injury to property, life, person, etc.” It makes perfect sense to insure ourselves or our property because things can happen to people and property. It is reckless not protect ourselves in the case of an accident or theft. However, not everyone agrees.
In the USA, 1 out of 7 drivers are uninsured. In the state of Kentucky 18% of drivers are uninsured, and that number has been on the rise.
These uninsured motorists have made the choice to drive without insurance for several reasons, and they are mostly economical. In recent years, many average Americans have fallen on hard times. When all around the country people are losing their jobs, investments and homes, there is very little left over for the luxury of insurance. But the problem is that insurance cannot and should not be considered a luxury, but a necessity. Insurance or proof of financial responsibility is required by law in all states.
In some states, drivers can’t register a car without proof of insurance, but other states only require proof of insurance upon request. This allows some drivers to own and drive a vehicle without insurance until they get caught by having an accident or getting pulled over for a ticket.
Although new laws are being established in many of these states that would make it necessary to have insurance to register any car bought or to track those that don’t have insurance, for now that still leaves the uninsured drivers who:
- Cannot afford insurance
- Can barely afford insurance, but choose to put the money towards other expenses
- Can’t get coverage because of their poor driving record
There are several dangers associated with the uninsured driver traveling the same roads that insured drivers travel.
- Statistically, they are in the group of the worst drivers.
- Their cars are in the poorest and most unsafe condition.
- Insurance rates are increasing for the insured drivers in order to cover the uninsured driver’s accidents.
The risks you take when driving uninsured:
- If you’re involved in an accident you could be responsible for thousands of dollars in repairs, expenses, medical bills, and liability costs.
Being in an auto accident not only has the potential to injure someone else, but you could also be hurt. If sustain a serious injury you will not have any coverage to help pay your medical bills.
If you are in an accident and your car is badly damaged or totaled, you could be without a vehicle. You would have to come up with enough money to pay for another vehicle or go without one. And if you were still making loan payments on the car, you would have to continuing paying these payments even though you don’t have a car to drive.
- There is the potential of being sued by the other driver if you are in an accident.
If you are responsible for an accident and you don’t have insurance, the other driver could sue you for the damages to their vehicle, property, and medical bills if they are injured.
- You could have your license suspended or even lose your license if caught.
This could also hurt you financially if you aren’t able to get back and forth to work. And depending on the state you live in, there may be the burden of substantial court costs and other requirements that are imposed on you for driving without insurance.
By having insurance you’re paying a manageable cost now so you don’t have to worry about paying the likely unmanageable costs later of not having insurance. In the long run, auto insurance can save you a lot of money, financial burden, and give you peace of mind. So make sure you have minimum required insurance or just don’t drive.