Asked by Anonymous from Rhode Island
Anonymous:
Yes, of course you can pick it with us! InsureMe.com is a great way to shop for insurance because you can get multiple quotes from local agents just by completing one short form.
That’s the good news. Here’s the bad news. Generally, insurance companies don’t like it when people have gaps in coverage, and they penalize those that do by charging higher rates. (Which means it’s sometimes cheaper to maintain coverage even when you’re not driving.) What’s more, the longer you don’t have insurance, the warier insurers will be when you reapply.
Note: In Rhode Island, the law requires drivers to carry minimum levels of liability coverage (which pays for medical costs and property damage that you cause). So don’t drive you car until you can show proof of coverage!
In the future, if your car breaks down and you stop driving it, keep your insurance. If you’re strapped for cash, see if you can lower your coverages and raise your deductibles in order to reduce your premium payment. Keep the minimum coverage levels to stay in the system. It will pay off in the long run.
Also, if the bank owns the car, they will generally require insurance, and if they find out that you don’t have current coverage, they may repossess the vehicle.
Please note: InsureMe Answers is not intended to be a substitute for advice from a licensed professional. For specific questions about a policy or claim, please contact your insurance agent or company.
1 thought on “My car broke so I dropped my insurance, can I pick it with you when I get another car?”