What happens when you get pulled over without Insurance
In another article, we analyze how much one would save without insurance over a three year period. In that time, an average driver saved an average of $2,825 on insurance. Plus extra for foregone registration fees and emissions tests. Let’s call it an average of $3,000 in savings. That’s the benefit.
The sum cost of a pullover over with no insurance is fourfold:
- 1. The ticket fine plus fees, which varies by state. Often, it’s around $500 and a three-month suspension for a first offense, though some states run upwards of $5,000.
- 2. Risk of suspension and not being able to drive a car for a certain number of months. Needing to ask favors from friends for rides, having to take public transit, not going out on errands, etc.
- 3. The increase in the price of your insurance policy once you’re insured again. According to a study by Quadrant Information Services, it will raise your rates by 6% on average.
- 4. The stomach-clenching stress felt every time a cop pulls up in the rearview mirror.
Add up your estimates for each of those to find your personal cost of foregoing insurance.