According to an article from the CW Arkansas, drivers in some states are dropping their auto insurance in an attempt to save money.
This is not a good idea, and in some states it’s even illegal!
As the article states:
“If you’re involved in a crash without auto insurance you will lose your license and face heavy fines and that’s only if no one gets hurt. Police and auto insurers say it’s not worth it “
You’re much better off shopping around for auto insurance quotes online from Insurance.com or Esurance.com. Or even dropping your collision coverage. You’re obviously not concerned with the repair bill if you’re thinking of dropping your coverage altogether.
The risk of not having auto insurance is really not worth the savings. Without insurance, you likely to lose everything you own in the event of a serious accident with any injury to occupants of the other car. If you’re that strapped for cash, take the bus.
Speaking of auto insurance being required by law in some states, here’s a handy site that let’s you view the details for each state. It not only tells you whether insurance is required in the state, but also what the minimum amounts of coverage are for various items.
With people even daring to drop their auto insurance coverage it will be interesting to see if people will maintain their health insurance coverage in states like MA where having health insurance is mandatory.