In most places, you need proof of insurance (or proof of financial responsibility) before you can drive your car. The consequences of driving without adequate auto insurance coverage, even on the first offense, can be significant.
Take fines for driving without car insurance in Edmonton, for example, they can range from $3,000 to $10,000. Failure to pay this amount could result in a prison sentence of one to six months. Compared to the price of car insurance, this is a significant amount.
Auto insurance is necessary to ensure that you are covered in the event of an accident or collision while driving your vehicle. It can also help if your car is vandalized or stolen while parked. Auto insurance can also help cover the costs of certain liability expenses if you cause damage to another person's car or property, or if you cause injury while driving your vehicle. With the right auto insurance, you can be protected against some or all of the risks you encounter on the road.
Liability if your insurance coverage is insufficient
Many people will try to find the cheapest auto insurance coverage, which may initially seem like a good idea. You have minimum basic coverage that allows you to drive your car on public roads and reduce costs. Of course, you can save money. What could go wrong?
Insufficient coverage
Unfortunately, if the only thing you look at when trying to find car insurance is the price, you could be making a big mistake. This is because cheaper policies tend not to cover everything you need and won't be enough if you have an accident. If you have the wrong auto insurance coverage and have an accident that your insurance won't fully reimburse you for, you could end up with thousands of dollars.
Another mistake many people make that results in huge expenses is opting for collision-only coverage. Collision coverage covers you in the event of an accident with other vehicles or objects. However, it will not compensate you for damage or loss caused by accidents while your vehicle is parked. For example, if something falls on your car while it's parked, a collision damage waiver won't help. That's why getting full coverage is essential.
legal liability
Finally, many people seriously underestimate the limit of liability they might need. Car insurance mandates require a certain amount of coverage, and drivers often choose a minimum or minimum to keep costs down. What if you were responsible for hundreds of thousands of dollars, but your supplier only reimbursed you $50,000?
Make your insurance affordable without sacrificing coverage.
The main cause of underinsurance or poor insurance coverage is the fear of paying too much. However, there are plenty of ways to save on your insurance without sacrificing needed coverage.
Choose a higher discount
By choosing a higher discount, you may be able to save on your rates. The trade-off is that if you have an accident, you'll be required to pay that amount before your service provider steps in to cover the rest. Make sure the deductible you choose is realistic.
Investigate Discounts
There are a variety of deductibles available in the general market, including your car's safety features, good driving record, low mileage, multiple cars insured, low or no claims, group plans, and more.
Compare the prices
Work with an insurance broker to compare rates and find plans that may not be available in the general market. An insurance broker can also help you by working with you face-to-face to find you.
Trying to find auto insurance with the right amount of coverage that fits your budget can be difficult. The best way to make sure you're getting the right amount of insurance at the right rate for you is to work with an insurance broker. The broker will be able to provide you with all the information you need to ensure you get what you need. He will also provide a personal touch throughout the process, so you never have to worry about whether your insurance is sufficient.
 before you can drive your car. The consequences of drivi…){kind=link}