Insurance is an unavoidable necessity of modern-day life. This is particularly true for drivers. In a normal person's daily routine, the time they spend on the road is more than likely the most dangerous part of their day.
Driving is inherently risky. And even the best driver can't always be prepared for the actions of the other drivers encountered on the road. It's likely that everyone will have a need for vehicular insurance at least once in their life.
There are a few different kinds of insurance related to driving and vehicular activities, and each of them is important for different reasons. Let's have a look at several different reasons why you should maintain driving insurance at all times.
Protect Your Assets
The first thing is the need to protect one's assets. Getting in an accident often means you'll be liable for the other party's damages. This is often true even if it isn't your fault. Even if you are completely in the right, the police may not call it the right way and you'll be left with the bill. Protecting your assets is the fundamental reason why insurance was invented in the first place. Vehicular insurance protects your assets in a few different ways.
Liability insurance is usually the minimum form of insurance that's required by law. Being involved in a car accident without it means you'll likely need to defend yourself in court if you're in Virginia, it means that you'll need to contact Richmond uninsured motorist lawyer to help you out. It's also the cheapest. But you get what you pay for and liability insurance only covers the damages of the other party. Maintaining liability insurance means you won't have to pay out of pocket for their expenses. However, if they do not carry liability insurance as mandated by law, you'll be left holding the bill again.
Regardless of whether the other involved parties have liability insurance or not, maintaining liability insurance still protects your assets. If you're found at fault, or even if it's a no-fault accident, your liability insurance will cover their hospital bills and vehicle replacement expenses. Without liability insurance, you might find yourself paying for a new car that you'll never drive. And heaven for bed you crash into a Lamborghini. You can spend the rest of your life in debt because of a single bad choice.
Full coverage is another form of commonly purchased vehicular insurance. Full coverage as its name implies we'll cover you regardless of fault. If the other party has liability insurance, it will cover you. However, in the event that they do not have liability insurance, full coverage will pay for your medical bills and even replace your car. Full coverage insurance is often required by the loan provider and must be maintained until the vehicle's lien has been removed.
Avoid Expensive Fines
As a mission previously. Maintaining liability insurance is mandated by law. If you don't maintain the minimum liability insurance and are found uninsured by the police, you're going to be looking at some fines.
Driving without insurance fines varies from place to place but can exceed $600 depending on where you are. There are other issues and problems with driving without insurance.
On the other hand, a hefty $500 fine is nothing compared to buying a stranger a new car and paying off all of their medical bills.
Maintain Your License
Driving without insurance is illegal. If you're found to be driving without insurance habitually, you can even lose your license. Losing your license is an expensive and annoying process.
Usually, you can't reinstate your license until all of your past due bills are paid. And these fines at the DMV will rack up quickly. If you do lose your license, you’ll likely be paying hundreds or thousands of dollars in fees to get it reinstated. You may even need to hire a lawyer.
Keep Your Record Clean
Driving without insurance is illegal. America is the most punitive nation on the planet. It's hard enough to stay out of trouble even if you're an angel. However, it's not that difficult to keep from racking up charges due to basic driving infractions.
Being charged with driving offenses after a lifetime of hard work and a clean record can be frustrating. Having any kind of police record at all can impair your life greatly. Having a charge on your permanent record for something as silly as failing to pay insurance is a ridiculous kind of problem that no one should be faced with. So if you want to steer clear of the law and maintain a Killeen Police record, you had better maintain the minimum liability insurance if you plan on driving.