I am pretty sure that that might be the one thing that you really can't just not have and get away with. Of course you can get away with it, but only for so long and when you get caught you are in a lot of trouble. So the answer is no, I would not ever skip that. If it were not against the law then maybe I would because I am a pretty good driver, but then again cars are a gamble so it might just be best to have it.
I would be afraid too. In our small town, the local authorities feel it is more important to ticket people for illegal driving than for selling drugs. If I ever tried to get by without auto insurance, I would be the first one fined for it.
In this case, I don't consider it to be an option for savings. I just found a better rate. I really shopped around until I found the cheapest one I could get that provided reasonable coverage. Not only could you have an accident and get sued, costing you tons of money, but you can also get into a lot of trouble. The fines alone will eat up any savings you may have gained, and then you will still have to buy insurance anyway (or continue paying more fines and possibly lose your license). Where I live, you have to show proof of insurance before you can even get your tags, anyway. So, here, it isn't even an option if you wanted to risk it.
It is very illegal in the state of Ohio where I live to operate a motor vehicle without insurance. In fact, not only are you ticketed and heavily fined if you are found driving without the proper coverage, but your driver's license is suspended. When you get your license back, you must carry a special kind of insurance usually for a period of two years for the first offense. This type of insurance will report you to the BMV if it is not paid or cancelled in any way. The state of Ohio also sends out letters at random requesting to see proof of insurance. If you do not return the letter with the stated requirements of proof, your driver's license is also suspended. The state doesn't care about excuses, either. You can't say you didn't get the letter or you were on vacation, they still suspend your license, regardless of the excuse.
I suppose it would not be all that devastating after all if one pays out of their pocket. The reason for this is that the premiums paid to insurance companies don't work for you. I think one can save some money equivalent to the premium in a high interest venture. This entails making the money work for you. When an emergency strikes, only a percentage of this money which you can afford to risk will pay for compensation.
I wouldn't dare to drive without insurance. It may be expensive to have your car covered, but it can help save you from awful legal issues and fines. Plus if you shop around, there are some cheap rates and there are some insurance agencies that offer insurance even if you don't have a driver's license. Insurance gives me some sense of security as I venture into the streets of my city.
I wouldn't mind pay high insurance premiums if it didn't feel that it's so unfair! I think insurance companies don't care about your vehicle, or accidents, or anything like that. They are in the business to make profit. I told my last insurance agent that I believe that if I pay insurance and I don't get in an accident or have any other situations that my insurance is used for, that I should get a refund of all my premiums paid that year. I still think it's a great idea. Why should we continue to pay out of pocket and never see that money again? If we are good drivers (and I am) then we should get our money back. Especially if it's the law that we have to have it. What do you think? Should we get our hard earned money back if we don't file any claims, or are in any accidents for an entire year?
Third party car insurance is mandatory in most countries if not all. Driving without insurance is very risky and can be costly in case an accident occurs. Never drive a car without insurance.
We are allowed to choose whether we want car insurance or not in my country. For me personally I would rather pay a small monthly fee and be safe in the knowledge that I will not be caught out with a huge loss should my vehicle ever be stolen, crashed, etc. If you take the money you would have paid for insurance and put it into a savings account for instance it might cover you when something does happen to your car, but let's be honest if you do not have insurance you are going to use the extra money without saving it.
This is something that comes standard with most insurance companies here in South Africa. They do not pay your premiums back in full every year, but you get one years back after three claim free years for example. Remember the insurance companies are businesses and need to make a profit, also if your car is written off after you paid just one premium they still pay the full amount so they have just as much risk if not more than the client
