It was estimated by the Insurance Research Council (IRC) that 30 million U.S. vehicle owners go without vehicle insurance.
For uninsured drivers, Oklahoma leads the way with 25.9%, Florida is second with 23.8%, and Mississippi is third with 22.9%.
The states with lowest uninsured drivers were Massachusetts 3.9%, Maine has 4.7%, and New York with 5.3%.
Is It Against The Law To Drive Without Insurance?
All states generally ban driving without insurance, however, this is not being properly enforced.
Driving a car without proper insurance may lead to serious consequences.
All states requires drivers to buy standard auto liability insurance, according to the Insurance Information Institute. The exception is New Hampshire because they insist that drivers must satisfy a financial responsibility requirement. They must prove financial capability to pay for any or all damages, inclusive of injuries, in the event of an accident.
Penalties for driving with no vehicle insurance
The penalties for driving without adequate vehicle insurance vary considerably by state.
In most of the instances, the penalties can be quite harsh and if it happens that you cause an accident, you will be forced to pay for the cost of the damage that you have caused.
This can be as in the tune of thousands of dollars. By driving without auto insurance you may indeed put another driver in a massive financial debt.
These are generally what happens when you are caught driving with no vehicle insurance:
1. Driver’s license suspension
This can be a huge inconvenience because you will not be able to move around efficiently, especially for your job.
2. Loss of motor vehicle registration.
Some states will take away your motor vehicle registration.
You may also be fined heavily for this offense while also making it possible to be slapped with an additional ticket. For the additional ticket you may be charged with reckless driving and/or over speeding. Depending on the state and circumstances, the fines can be as low as $600 while the highest fines can be above $5,000.
If you have additional tickets in your records, there is no doubt that the financial costs can be even higher.
Your car may also be impounded and towed away and getting it back will cost you more money.
4. Those who were caught for the second time will have their fines increased exponentially.
The reason being that cars can cause massive damages to people and property. With valid insurance coverage, you will be able to protect yourself and other people and can help safeguard you against having to pay the high costs after an accident.
Take, for instance, in 2013; average auto liability claim for bodily harm was $14,653 while the average cost for property damage is $3,073. This means that even a simple issue such as damaging the bumper of another car can cost hundreds of dollars, depending on how extensive the damages are.
These are costs that an insurance company would normally pay. Also, with no vehicle insurance you could be taken to court and you may be found liable to all the costs. This is on top of the expenses that you will spend to repair your own vehicle.
5. Uninsured drivers are most likely to run away from an accident scene.
This is a criminal offense and comes with serious repercussions such as being charged under a criminal code.
This makes it important to avoid driving with no vehicle insurance coverage.
Non-Owners Insurance policy
It’s recommended that anyone who doesn’t own a motor vehicle should consider buying non owners insurance coverage.
This safeguards you and your assets against an unfortunate accident where you were at fault.
Non-owner insurance is designed for those who seldom drive. Fortunately, there are different variants that are available in the market, so you can choose which can suit your specific requirements.
There are several insurance companies that offer this product, but the problem is that it’s rarely advertised.
You can save on cost, unlike getting a full coverage yet you don’t need to drive regularly. You will find it easier getting a quote through acceptance and you can save massive amounts of money. This is much better than paying for property damage and medical bills associated with an accident.
The cost of non-owner’s insurance policy is determined by several factors. Among them are your driving history, the amount of coverage that you want and the frequency with which you will use a car.
Driving with no insurance can be a money-saving strategy, but if you caused an accident, you will be responsible for paying medical and property damage costs. If you can somehow avoid all that payment, you will still end up paying more on a new policy after a lapse in coverage.