You’re not invincible. Car crashes happen. Although some states do not require one to purchase car insurance in order to own and operate a vehicle, having the peace of mind that someone has your financial back in the event of an accident is worth the monthly payments.
Say you’re on your way home from work in rush hour. Your spouse calls your cell to remind you to pick up fresh basil for that new recipe that’s been posted on your kitchen bulletin board for weeks. You fumble to find your phone, and in the second that you look down into your bag, the person in front of you comes to a stop – BAM. Fender bender. Sure, it’s not that serious, but without car insurance, this momentary lapse of attention to the road can cost upwards of $600 in damages – not to mention any additional fees (sometimes over $500) that could accrue do to driving without insurance.
And this is just for a fender bender. Monetary fees increase as the amount damages to the car or drivers/passengers do.
Car insurance is a monthly expense that most people work into their budget. The average insurance premium runs a little over $1,500 a year – compare that to the $4,000 fee (and that’s being generous to the at-fault driver) that one could accrue in the event of an accident, and the decision seems to make itself.
Or you could just tell your spouse that basil is expensive this time of year. It’s – er – out of season. Yeah, stick with that.