When people buy a vehicle in Indiana, they consider auto insurance in Indiana to be a luxury rather than a necessity because they don't always get in a wreck and because it is so expensive. They often think that they can avoid buying insurance by being extra careful. However it is very important to have insurance because of the financial risks involved with an accident. It is against the law to drive without insurance.
Even though we often think that paying for insurance monthly or bi-annually is too expensive, the alternative is almost always more expensive. Let's say for example that you go without paying for insurance for two years and because of that you save $2,000. You may think that you have helped yourself by not paying this money but that isn't true.
Let's say that a few months later you are driving to work in the snow, and you slide in to another car. Because you slid in to the other car it is your fault. The car you hit was worth $15,000 and it is totaled. There are four people in the car and their cumulative medical bills are $85,000. You thought you were better off without insurance but now you have to pay $100,000 for an accident that would have been otherwise covered.
How would you evaluate your decision made two years ago to not pay car insurance? If you would have maintained a decent insurance policy for those two years, your insurance provider would have covered all the expenses and all you would have had to pay would have been a minimal deductable. Is paying $100,000 because you wanted to save $2,000 worth it?
Most people don't have access to that kind of money so they are forced to liquidate all of their assets, selling their homes, cars, and property. People often have to change their lifestyle because of this poor decision. With the risk of getting in a wreck, it is vital to have car insurance
Avoiding the costs of car insurance isn't the only reason to have car insurance, it is also illegal. If you aren't insured, you can be fined hundreds or even thousands of dollars. They can also revoke your license and impound your car. To be safe, it is much better to just pay for the insurance to ensure you don't run in to any of these problems.
On top of the financial risks that you take in not purchasing car insurance, it is also against the law to drive an uninsured vehicle. If you are caught operating a vehicle without insurance stiff fines can be imposed, your driver's license can be revoke, and your car can be impounded. Any of these penalties outweigh saving minimal money from not paying for car insurance.
Even though we often think that paying for insurance monthly or bi-annually is too expensive, the alternative is almost always more expensive. Let's say for example that you go without paying for insurance for two years and because of that you save $2,000. You may think that you have helped yourself by not paying this money but that isn't true.
Let's say that a few months later you are driving to work in the snow, and you slide in to another car. Because you slid in to the other car it is your fault. The car you hit was worth $15,000 and it is totaled. There are four people in the car and their cumulative medical bills are $85,000. You thought you were better off without insurance but now you have to pay $100,000 for an accident that would have been otherwise covered.
How would you evaluate your decision made two years ago to not pay car insurance? If you would have maintained a decent insurance policy for those two years, your insurance provider would have covered all the expenses and all you would have had to pay would have been a minimal deductable. Is paying $100,000 because you wanted to save $2,000 worth it?
Most people don't have access to that kind of money so they are forced to liquidate all of their assets, selling their homes, cars, and property. People often have to change their lifestyle because of this poor decision. With the risk of getting in a wreck, it is vital to have car insurance
Avoiding the costs of car insurance isn't the only reason to have car insurance, it is also illegal. If you aren't insured, you can be fined hundreds or even thousands of dollars. They can also revoke your license and impound your car. To be safe, it is much better to just pay for the insurance to ensure you don't run in to any of these problems.
On top of the financial risks that you take in not purchasing car insurance, it is also against the law to drive an uninsured vehicle. If you are caught operating a vehicle without insurance stiff fines can be imposed, your driver's license can be revoke, and your car can be impounded. Any of these penalties outweigh saving minimal money from not paying for car insurance.
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