Getting in a car accident can be one of the most expensive events the average person will experience, and simply being a good driver can’t guarantee it won’t happen to you. Repair costs and medical bills often cut a little too deep into your wallet for comfort. Choosing not to protect yourself with insurance may save you a little money today but could seriously hurt you in the long run. Investing in auto insurance can assist you in paying for car repairs, recovering from injuries, and covering the costs of others if you are deemed liable for the accident.
Your Vehicle Could be Damaged
Accidents can be stressful enough on their own, before worrying about the cost of repairs to your car. Car repairs are often very expensive, especially in the event of a major accident. Auto insurance can help cover the costs of those repairs, and if necessary, replacement of the car. Without it, you may not have the money to front the costs of repairs and could be left without a vehicle for prolonged periods of time.
You Could be Injured
Medical bills are often tremendously high, and sometimes health insurance can’t cover it all. Having a personal injury clause on your auto insurance can supplement your health insurance if the costs of your injuries exceed its limits. It’s not uncommon to wind up in debt as a result of high medical bills, and many Americans choose to skip the hospital entirely as a result. Having personal injury protection on your auto insurance gives you more peace of mind that you can afford the treatment you need for your injuries.
You Could be Liable For Others’ Property Damage and Injury Costs
Auto insurance is not only for your own property and injuries, but those of others involved as liability. You may be responsible for paying out the costs associated with their repairs. Learn more about your legal liability in car accidents here. Having auto insurance can help cover the price of their bills, which you could be on the line for. Many people don’t have that kind of cash lying around in their savings. Even if you do, how much would paying that out set you back in your savings goals?
Others Involved in the Accident May Not Have Insurance of Their Own
If you are hit by a motorist that does not have their own insurance policy, they may not have the money to pay for your damages and injuries. You could sue for the money, but that is often a lengthy process, and, in most cases, you need those funds now. Having an uninsured motorist clause in your auto insurance policy will provide you with cash in the interim while you wait for your case to settle. You won’t be left on the hook for someone else’s mistake.
Your State May Require Automobile Insurance
Many states in the U.S. require you to have auto insurance by law. Every state but New Hampshire requires drivers to own a minimum of liability coverage on their auto insurance. Each state has different minimums for auto insurance. For example, see the below graphic for the minimum coverage requirements for Massachusetts. See NerdWallet for your state’s coverage obligations. Operating a vehicle while uninsured could result in a number of penalties per the DMV. You could have your license or vehicle registration suspended. You can also be subject to hefty fines, as well as traffic tickets upon discovery of the infraction
Still have questions about auto insurance? TJ Woods Insurance Agency is here to assist you with all of your insurance needs from auto policies to any other form of personal insurance and more. Give us a call at 508-755-5944 or contact us on our site. We’ll walk you through all the options for your specific situation and even offer a free quote.
