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The consequences of drivers lacking insurance coverage

Being involved in a motor vehicle accident is a traumatic experience, regardless of the extent of injuries and property damage. The post-collision aftermath becomes even more painful upon the discovery that the other driver in the crash is uninsured or outright lacks insurance coverage.

Uninsured drivers around every turn

According to the Insurance Research Council (IRC), the problem is more prominent than anyone can imagine. Their study found that one in eight drivers willingly get behind the wheel of their cars without any insurance coverage. That puts the rate at just over 12 percent in 2019 alone, with some states closing in on 30 percent of their uninsured drivers.

While presumed to be the “next step” after purchasing a car, far too many drivers forego coverage. Either they claim that they can’t afford it or believe that their driving skills will keep them safe and crash-free. Either scenario has profound implications not only to other drivers on the road but also the rates they have to pay to account for their lack of coverage.

Uninsured and underinsured drivers increase the price tag when it comes to insurance. Essentially, their unwillingness to pay their own “fair share” raises costs for everyone, with some states seeing rates growing nearly seven percent. In 2016 alone, insured drivers paid over $13 billion for medical expenses and property damage due to at-fault drivers who choose not to insure their car or let their policies lapse.

Meanwhile, insurance rates continue to climb because of the dual negligence of not having insurance and causing a motor vehicle collision.