If your car insurance is about to lapse, now's the time to make a payment. If you have a good driving record, you might think you're safe to go without car insurance. That's not the case. You might have a good driving record, but that doesn't mean the drivers around you do. You can face a lot of problems if you get caught driving without car insurance. Read the list below. Here are four problems you could face if you let your car insurance lapse.
You'll Pay More for Coverage
If you're going to let your insurance lapse so you can save money, it's time to think about the future. If you let your insurance lapse, you'll pay more for coverage down the road. Insurance companies look at your insurance history when assigning premiums. If you have a consistent insurance history, you'll save money on your premiums. But, if there are lapses in your coverage, you'll pay quite a bit more for your next policy. Avoid the increase. Don't let your insurance lapse.
You'll Lose Your Discounts
If you get discounts for your car insurance, you need to think about those. Discounts are a good way to save money on your car insurance. You can get discounts for being a good driver and for being a long-time customer. If you let your insurance lapse, you'll lose those discounts. Unfortunately, the next insurance company might not offer those same discounts. Don't lose your discounts. Avoid letting your car insurance lapse.
Accidents Aren't Covered
If you've decided to let your car insurance lapse, you need to think about accidents. If you get into a car accident that's not your fault, damage to your car will be covered by the other driver. But, if you get into an at-fault accident, you'll be financially responsible for all damages. That means the other driver and their passengers could sue you for damages. But, so could the passengers in your car. Luckily, you can avoid liability. You can maintain your car insurance coverage.
Your Car's Not Protected
If you don't drive your car, you might not think you need insurance. That's not the case. Car accidents aren't the only situations to worry about. Your car could get stolen. Or, your car could sustain damage during a hail storm. If you don't have insurance, you won't have the protection you need for your car. Insurance protects your car from the things that happen when it's not being driven.
For more information, contact a company such as Full Service Insurance Agency of Wisconsin LLC.