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Cost of a Car Without Having Insurance

FIX IT YOURSELF? The Cost of a Car Without Insurance The national average rate for car insurance is $1,430.89, annually. This may seem like a lot of money, but it is a cost that is undoubtedly worth the price. What are the potential costs of a car accident without insurance? Damage to Your Car Below are the average costs of common car accident damages: BODY WORK $500 - $5,000 ECU (Varies greatly due to intensity of damage) (engine control unit) $1000 - $3000 RADIATOR OIL PUMP TRANSMISSION $400 - $600 $350 - $600 $1900 ALTERNATOR ENGINE STARTER $250 - $450 $2000 - $3000 $500 Keep in mind that a car accident can include multiple damages. The numbers can add up quickly. Damage to Others Additionally in a car accident, the driver at fault is responsible for personal injury and its related expenses. These costs can run very high. COMPENSATORY DAMAGES MEDICAL TREATMENT PROPERTY LOSS The combined value of damage to the vehicle, clothing, and any other items in the car during the accident. → This can include a laptop computer, cellphone, etc. Any cost of medical care associatedwith the accident. PAIN AND SUFFERING INCOME Compensation for any impact the accident has on the person's salary / wages. Compensation for pain and serious discomfort as a result of the accident. Hospitalization, severe injury, stress over bills, these issues can be a heavy burden on a person. If the person is hospitalized for their injuries, or put on disability, this can add up. LOSS OF ENJOYMENT If an accident-related injury prevents the enjoyment of day-to-day pursuits, compensation can be given. LOSS OF CONSORTIUM If a person is severely injured and can no longer maintain a relationship with their partner / spouse, compensation may be given. PUNITIVE DAMAGES EMOTIONAL DISTRESS In more serious accidents, a person can be compensated for emotional turmoil they've faced as a result of the accident. In cases related to reckless driving, Hospitalization, severe injury, stress over bills, these issues can be a heavy burden on a person. punitive damages may be awarded to the injured as a way of punishing the careless person at fault. These lawsuits are capable of costing hundreds of thousands of dollars. On average, the cost of an injury in a car accident is $61,600. Damage to Property Additionally, you are responsible for any property damaged as a result of your at-fault accident. The following would be included under a property damage claim: OFFICE BUILDING PARKED CAR MAILBOX FENCE HOME If you aren't covered by auto liability insurance, these could have a heavy impact on your finances. The average cost of property damage in a car accident is $7,500. An accident can happen to anyone. These prices are staggering. Is it worth the risk of being uninsured? Sources: http://www.carinsurance.com/Average-Premiums.aspx - http://www.carsdirect.com/car-repair/ IFA Insurance Company Real People, Real Savings http://www.enginereplacement.com/QuestionsAnswers.html http://www.nolo.com/legal-encyclopedia/damages-how-much-personal-injury-32264.html http://www.goinsurancerates.com/auto-insurance/11-statistics-and-facts-thatl-stop-you-from-driving-uninsured/

Cost of a Car Without Having Insurance

shared by marty11 on Jul 21
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With car insurance premiums on the rise, many are considering taking the risk of driving their vehicle without car insurance. Not only can this lead to severe penalties by the law, it may not even sav...

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