Recovering from an Accident with or without Insurance

The differences between recovering from an accident with insurance as opposed to without are drastic and could be life-changing. Insurance coverage is required for vehicle use; driving without insurance violates state laws. It is prudent to have insurance coverage even for wealthy persons. The ramifications of getting into an accident are large and long-lasting.

Recovery without Insurance

  1. There is a fine for not carrying insurance coverage on a vehicle that is driven.
  2. The person at fault may bear all expenses related to the accident, including property damage and personal injury.
  3. It may be necessary to pay for repairs immediately.
  4. Your driver’s license may be suspended for a year.
  5. It may be necessary to file aSR-22 financial responsibility form.
  6. Future insurance rates may be double or triple for up to three years.
  7. Court appearances and possible legal expenses may result.
  8. You must try to collect from other driver’s insurance company if they are at fault.

Recovery with Insurance

  1. Damages are paid for less the deductible amount.
  2. Repairs can be made right away.
  3. THe insurance company negotiates with the other insurance company on your behalf.
  4. Rates may go up, but not as high as if you had no insurance.
  5. There is no penalty for a lack of insurance.
  6. Thee is no need to file a SR-22.

Without insurance, you risk possible bankruptcy if you are at fault and are sued for damages and injuries. You will suffer from increased insurance rates for years after, and finding an insurer will be more difficult. Breaking the law will have its own repercussions, including a driver’s license suspension. This could affect your ability to get to work and earn an income. Medical injuries are very expensive and, without insurance, you are liable for those expenses on your own.

Always consult with your insurance agent to determine the best insurance plan for your situation.