Uninsured motorists on the rise due to economic conditions

Posted on Jun 24, 2009

In an effort to save money some Virginia drivers are dropping their car insurance completely, leaving themselves uninsured and vulnerable. According to AAA, as road travel picks up over the summer holidays many drivers who thought they were saving money will find themselves paying dearly for a bad budget decision.

While drivers will find that jettisoning their auto insurance will save them in the short-term, what they don’t fully realize is that if they get into an accident they face potentially large expenses. In addition to what they might be liable for in an accident, they have to pay a $500 Virginia uninsured motorist fine. In addition, having a new accident on their driving record will make it more difficult to get affordable insurance.

Worst case, an uninsured driver who causes a serious auto accident – one with major injuries and massive property damage – can be sued in a court of law. These uninsured drivers face losing everything – their home, their savings – ending up far worse off than if they’d just kept their car insurance current.

Experts suggest that individuals struggling to make ends meet talk to their insurance company about raising their deductible, good driver discounts, or adjusting insurance on an older vehicle that requires less coverage. In addition drivers can shop around, but they should keep in mind that a cheap policy may not be a good one.