Unfortunately for the rest of us, many people in need of extra cash during these tough economic times are getting rid of their car insurance. According to “More local drivers foregoing car insurance to make ends meet” from Washington news station KREM, Marissa Bagg describes this effect from the nationwide recession. Each state in the U.S. requires drivers to carry insurance on their vehicles, but you are not required to show proof when obtaining or renewing a driver’s license. So when forced with a choice to insure their vehicle or buy food for their family, Americans are choosing the latter. It’s always better to look for cheap car insurance to keep yourself safe though.
Companies like Farmers auto insurance may work with you to help you keep your car insured and avoid costly expenses related to not having insurance. Local Washington insurance companies are dealing with the problem in different ways. One company said it has lost 1/4 of its business due to the economy and customers saying they cannot afford to keep car insurance. State Farm Car Insurance is working with consumers and allowing them to suspend their policies in order to save the money needed to pay their premiums and not be considered uninsured. They have seen customers lessening coverage and cutting down on other things though. Before you cancel your car insurance policy, see if you company will work with you to avoid the huge expenses that will come if any accidents occur.
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