Right now things are tight financially unstable for many in Florida, the USA, and the entire globe. Many individuals and families are taking a long hard look at their budgets are tightening up the reins. Cutbacks are having to be made and it’s time to decide what is essential and what can be dropped temporarily.
One thing many consider during a dire round of cuts is to look at car insurance. Our best advice is do not drop your auto insurance policy. If you are found driving without insurance it can cost you and if you happen to get into an accident uninsured it can devastate your finances.
Where you may be able to save
Deductible: If you need to raise the deductible do so, but make sure that it’s not so high that if you did have a claim you wouldn’t be able to pay it, leaving you without a vehicle.
Mileage: You may also want to take a look at adjusting the number of miles driven per year. If you have been laid off or are now working at home that estimation of miles drops dramatically. Changing that value in the insurance quote can decrease your monthly bill.
Florida has a very high percentage of uninsured motorists which makes driving a hazard. Going uninsured may seem like a good way to cut corners but should an incident happen this is what you could be looking at:
FINES: The penalties for driving without valid current car insurance in Florida include a reinstatement fee of $150 up to $500 for subsequent violations. All drivers must provide proof of current Florida insurance if asked by law enforcement.
ACCIDENT: Should you be involved in an accident with no current coverage you will need to pay for all repairs to your own vehicle, any medical bills you incur as a result of the crash, as well as potentially having to pay out of pocket for the other parties car or truck as well as their medical injuries and even pain and suffering if they should sue you, should you be found at fault.
These charges, fines, and lawsuits can easily add up to an empty bank account, garnishment of wages, and even total bankruptcy.
Don’t let this happen to you. Let’s talk. Give Centennial Insurance Services a call and see what other savings on inclusions you may be able to temporarily make to save you some money in this tough time. at (239) 247-5125. www.cisinsfl.com.