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My hometown has one of the country's most expensive car insurance rates in the country. Here, car insurance is not really worth it for a safe driver like me. It would be much more cost effective here to just self-insure and save up the money than to buy car insure.
My home state just requires having $40k on hand after deducting all debts.
I just wanted to know for my own curiosity's sake what other states require as a comparison to my home state if I ever wanted to move in the future.
This is so short sighted....
My father was hit by a car, and the financial repercussions will add up to millions over his lifetime in medical care/injuries, uncovered medical expenses, and lost wages. If you hit someone and cause such an injury, you would be liable and as a retiree with savings, could be sued for everything you have. $35k to "self-insure"? That could be the cost for a few days in the ER and then the ICU....
Remember, "accidents" are called accidents for a reason. Even good drivers have them. And then someone has to pay.
And you have forgotten.... even if you have the Gods on your side and you NEVER make a mistake in your entire life, and a child NEVER runs in front of your car, and a bicycle NEVER gets in your path, and you never get distracted by a cell phone/the radio/eating while driving/or a simple sneeze....... you could always be hit by someone who is underinsured/not insured and who has nothing to cover you. That is also what car insurance is for. To cover YOU when someone hits you.
Yes, make sure you share which state you move to, as I want to be sure not to move to that state.
Insurance is one of the most important things you should invest in.
You need uninsured and underinsured motorist coverage
Most people here forget some of the most important reasons to carry adequate car insurance. YOU may be the one who gets injured. I carry limits of $1.3 million dollars liability, uninsured motorist, and underinsured motorist coverage.
I don't particularly worry I will cause a serious accident and injure someone else badly. After 39 years of driving, I feel fairly confident that I won't. However, the road is full of incompetent, inexperienced, and inattentive drivers who are virtually 100% driving around with either inadequate insurance or no insurance at all. The odds of one of these clowns running into YOU is higher than YOU think.
You cannot purchase higher limits of underinsured and uninsured motorist coverage than your liability coverages. So, to purchase these coverages, I also maintain high liability limits.
The cost difference between low limits of insurance and high limits of insurance is less than many people think it is. The biggest question to ask is are YOU worth those limits if someone runs into you and badly injures you?
^^^Pfft! I'll take my chances. These scenarios you paint are not as likely to happen as you think they are.
This is not always true. Some states like Florida protect your assets in retirement accounts, your primary residence, etc. from litigation.
Then you better move to Florida.
How often do you think these accidents happen? Don't you know that driving a car is the most dangerous thing that most of us do every day? Just in my COUNTY about 3 people die every day in a car crash. They are rarely reported on the news anymore.
Unfortunately, many of us only learn our lessons the hard way, and often inappropriately rely upon our own experience rather than facts and data. It is unfortunate that this lesson involves a dangerous machine. I really hope that is only you that suffers in the accident you will have.
How often do you think these accidents happen? Don't you know that driving a car is the most dangerous thing that most of us do every day? Just in my COUNTY about 3 people die every day in a car crash. They are rarely reported on the news anymore.
Unfortunately, many of us only learn our lessons the hard way, and often inappropriately rely upon our own experience rather than facts and data. It is unfortunate that this lesson involves a dangerous machine. I really hope that is only you that suffers in the accident you will have.
Hey, this is totally uncalled for!!!
If you can't (or won't) post on a forum without resorting to this kind of behavior, then you shouldn't post on this forum. Learn some etiquette!!!
I do not do it so do not know amount, but Texas has a bond filed with state as part of vehicle responsibility law which basically is self insured. Look it up on line if you want.
NH doesn't require insurance......probably the cheapest!
FL doesn't require it for motorcycles but you have to have health insurance (to cover bodily injury).
It sure doesn't get any cheaper than that.
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You need uninsured and underinsured motorist coverage
