What are the costs of not having auto insurance?

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How much does auto insurance cost?

Car insurance rates differ per person for a variety of reasons. Below you can see how rates will change based on the coverage that you select:

Average Monthly Liability Auto Insurance Rates by Company and Coverage Level

Companies	State Minimum Liability Rates	50/100/50 BI-PD Liability Rates	100/300/100 BI-PD Liability Rates
Allstate	$67	$76	$84
Farmers	$52	$60	$67
Geico	$40	$49	$57
Liberty Mutual	$53	$59	$67
Nationwide	$59	$61	$69
Progressive	$57	$64	$73
State Farm	$44	$52	$59
USAA	$33	$37	$42
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The amount of coverage you choose isn’t the only deciding factor in your rate calculation. In order to determine how much you will pay for your insurance, auto insurance companies need to gather a significant amount of information to use in what is known as the underwriting process. This process enables them to perform mathematical calculations and statistics that can ascertain if you are a high- or low-risk driver.

If you want to take control of your future, you should understand the specifications that interest an insurance company, so that you can be prepared when you begin shopping for insurance.

Factors that Affect Auto Insurance Rates

When you apply for an insurance quote online, you’ll need to be ready to supply this information:

• Your age
• Your full name
• Your birthdate
• Your car’s make and model
• Your car’s age
• Your car’s mileage
• Your driver’s license number

Once an insurance company has acquired this information, it will proceed with conducting further background checks on you. More specifically, an insurance company will run your motor vehicle report (MVR) to discover your driving history and determine if you have been involved in accidents, collected numerous speeding tickets, or been fined for other moving violations.

If you have several marks on your driving record, an insurance company will regard you as a high-risk driver and adjust your rates accordingly.

Now, insurance companies are also interested in your credit score. If you have a low credit score, an insurance company will also see you as a risky client to insure, not due to your driving abilities but because you may not be able to pay for your policy.

How to Reduce Insurance Rates

Drivers who have poor credit scores — or a few speeding tickets — may be concerned that their insurance rates could soar to untenable heights. However, there’s no need to panic. Most major insurance companies offer great discounts that can help you lower your rates and acquire the coverage you need.

As you shop for a new insurance company, you can use this guide to help you find a company that offers the best selection of discounts:

Auto Insurance Discounts from Top Companies

Auto Insurance Discounts	Allstate (%)	American Family (%)	Farmers (%)	Geico (%)	Liberty Mutual (%)	Nationwide (%)	Progressive (%)	State Farm (%)	Travelers (%)	USAA (%)
Adaptive Cruise Control	N/A	N/A	N/A	N/A	5	x	x	N/A	N/A	N/A
Adaptive Headlights	N/A	N/A	x	N/A	5	x	x	N/A	N/A	N/A
Anti-lock Brakes	x	x	x	5	5	5	x	5	x	x
Anti-Theft	x	x	x	25	20	25	x	15	x	x
Claim Free	x	x	x	26	x	10	x	15	23	12
Continuous Coverage	x	x	x	x	N/A	N/A	x	N/A	15	N/A
Daytime Running Lights	x	x	x	1	5	5	x	N/A	x	x
Defensive Driver	x	x	x	x	10	5	10	5	10	3
Distant Student	x	x	x	x	N/A	10	x	x	7	x
Driver's Ed	x	x	x	x	10	N/A	10	15	8	3
Driving Device/App	x	x	N/A	x	30	40	20	50	30	5
Early Signing	x	x	x	x	N/A	8	x	N/A	10	12
Electronic Stability Control	x	x	x	N/A	5	x	x	N/A	N/A	N/A
Emergency Deployment	N/A	N/A	N/A	25	N/A	N/A	N/A	N/A	N/A	N/A
Family Legacy	N/A	x	N/A	x	N/A	N/A	x	N/A	N/A	10
Family Plan	N/A	x	x	N/A	N/A	25	N/A	N/A	N/A	N/A
Farm Vehicle	x	N/A	x	x	N/A	N/A	N/A	N/A	N/A	N/A
Federal Employee	N/A	N/A	x	8	10	N/A	N/A	N/A	N/A	N/A
Forward Collision Warning	N/A	N/A	N/A	N/A	5	x	x	N/A	N/A	N/A
Full Payment	N/A	x	x	x	$5	N/A	x	N/A	7.5	N/A
Further Education	N/A	N/A	N/A	x	10	15	N/A	N/A	x	N/A
Garaging/Storing	N/A	N/A	x	N/A	N/A	N/A	N/A	N/A	x	90
Good Credit	x	x	N/A	N/A	N/A	x	x	x	N/A	N/A
Good Student	x	x	x	15	22.5	10	x	25	8	3
Green Vehicle	x	N/A	5	N/A	10	N/A	N/A	N/A	10	N/A
Homeowner	N/A	N/A	x	x	x	5	x	3	5	N/A
Lane Departure Warning	N/A	N/A	N/A	N/A	x	x	x	N/A	N/A	N/A
Life Insurance	x	N/A	N/A	N/A	N/A	x	N/A	N/A	N/A	N/A
Low Mileage	x	x	x	x	x	x	x	30	x	x
Loyalty	N/A	x	N/A	x	N/A	5	x	N/A	N/A	x
Married	N/A	N/A	N/A	N/A	x	x	x	x	N/A	x
Membership/Group	N/A	N/A	N/A	x	10	7	N/A	N/A	x	N/A
Military	x	N/A	x	15	4	N/A	N/A	x	N/A	x
Military Garaging	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	15
Multiple Drivers	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Multiple Policies	10	29	x	10	20	10	12	17	13	x
Multiple Vehicles	x	x	x	25	10	20	10	20	8	x
New Address	N/A	N/A	N/A	N/A	5	N/A	N/A	N/A	N/A	N/A
New Customer/New Plan	N/A	N/A	N/A	N/A	x	N/A	N/A	N/A	N/A	N/A
New Graduate	N/A	N/A	N/A	N/A	5	N/A	N/A	N/A	N/A	N/A
Newer Vehicle	x	N/A	x	x	N/A	x	x	40	10	12
Newly Licensed	N/A	N/A	N/A	N/A	5	N/A	N/A	N/A	N/A	N/A
Newlyweds	N/A	N/A	N/A	N/A	5	N/A	N/A	N/A	N/A	N/A
Occasional Operator	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	x
Occupation	x	N/A	x	x	10	15	N/A	N/A	x	N/A
On-Time Payments	x	N/A	N/A	N/A	N/A	N/A	N/A	N/A	15	N/A
Online Shopper	N/A	N/A	N/A	N/A	N/A	N/A	7	N/A	N/A	N/A
Paperless Documents	x	x	x	N/A	N/A	5	$50	N/A	N/A	N/A
Paperless/Auto Billing	x	x	x	N/A	x	$30	x	$2	3	3
Passive Restraint	x	x	x	40	x	20	x	40	x	x
Recent Retirees	N/A	N/A	N/A	N/A	4	N/A	N/A	N/A	N/A	N/A
Safe Driver	N/A	N/A	x	15	N/A	35	31	15	23	12
Seat Belt Use	N/A	N/A	N/A	15	N/A	N/A	N/A	N/A	N/A	N/A
Senior Driver	x	N/A	x	N/A	N/A	N/A	N/A	N/A	N/A	x
Stable Residence	N/A	N/A	N/A	N/A	N/A	x	x	N/A	N/A	N/A
Students & Alumni	N/A	x	N/A	x	10	7	N/A	N/A	N/A	N/A
Switching Provider	N/A	x	x	N/A	10	N/A	x	N/A	N/A	N/A
Utility Vehicle	x	N/A	x	x	N/A	N/A	N/A	N/A	N/A	N/A
Vehicle Recovery	x	x	x	15	35	25	x	5	x	x
VIN Etching	N/A	N/A	x	N/A	5	x	x	N/A	x	x
Volunteer	N/A	x	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Young Driver	N/A	N/A	N/A	N/A	x	N/A	x	N/A	N/A	$75
Get Your Rates Quote Now											#blank#	#blank#	#blank#	#blank#	#blank#	#blank#	#blank#	#blank#	#blank#	#blank#

As you can see, there’s no need to drive without insurance. There are plenty of discounts that can help you secure the best policy for you with savings to boot.

The Cost of Not Having Insurance: What You Need to Know

What are the costs of not having auto insurance? In short, it’s not worth it. You could pay expensive fines and lose your license or your vehicle registration. On top of that, an insurance company may hold that against you when you attempt to purchase a policy, and you could persist in paying higher rates.

Instead of risking your hard-earned funds and your driving freedom, purchase an insurance policy from a company that can meet your financial and coverage needs.

Enter your ZIP code to obtain free insurance quotes from insurance companies near your city because the costs of not having auto insurance are extremely excessive.

Frequently Asked Questions

Why is it illegal to drive without insurance?

A car accident can result in immense property damage, medical bills, and even death. All of these situations can financially destroy a household. While having an insurance policy will not allow you to rewind time, it will permit you to provide financial assistance to another driver that you’ve injured in an accident.

Can you drive without insurance if the car is insured?

Insurance coverage follows the car. That means that if you don’t have insurance, you could borrow your friend’s car — as long as your friend has an active policy for that vehicle. Now, you must remember that if you cause an accident and the damages surpass the coverage provided by your friend’s coverage, you could be sued by the other driver for damages.

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