A friend of mine From South Africa once told me that car insurance is optional over there and so that got me thinking....do we really need insurance?
Certainly in the UK the answer is yes. Without car insurance you cannot get your road tax which you legally need to have your car on the road.
It didn't used to be, but now most places, at least in the United States, you have to have Auto Insurance to get your Drivers License, change a title, register your auto etc. also it is good to have Auto Insurance in case you were to be in a wreck or your car were to be stolen.
I'm amazed that auto insurance would be optional over there. There have been so many times that I've needed my car insurance and have been thankful that other drivers had insurance. I have had a number of fender benders where people have bumped into me and I got a check to cover the damages.
Of course, 1.) It's a legal requirement. Not having it will lose you a license and cost you lots of money. 2.) Accidents happen and if you don't have insurance you're screwed. 3.) Disasters happen and if you don't have insurance you're screwed. 4.) Many insurance policies come with additional benefits and they can really pay off.
I would say we definitely need it or an accident could bankrupt us! Suppose you hit someone, your fault, and God forbid, they die? You would be sued and paying the rest of your life! In Wisconsin, it is illegal not to have it. Is it legal to drive without insurance anywhere? I recently switched companies after many years with one. We have perfect driving records and we are old enough to be grandparents but instead of going down or getting that safe drivers discount you hear about, our premiums went up! No one seemed to know why. So I switched to the tune of a thirty dollar a month savings! Look around and get your best deal! It's worth the extra time it takes. We wanted an agent in our own city and that's what we got. We're now with Progressive.
