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Instead of paying for auto insurance, can I set aside money for liability in case of an accident?
"Since I don't get in accidents often, I think it would be easier for me to set aside money instead of paying monthly premiums. Is this possible?"
Sophie Newman · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“Though you can set aside money in case of an accident, you shouldn’t drive without car insurance. Most states mandate
state minimum car insurance
, and if you’re in violation of these requirements, you can be fined or even have your license suspended. You may end up paying much more than you would have with monthly premiums.If you’re worried about costs, find savings on car insurance coverage with
Jerry
, a licensed broker that helps you compare rates from up to 45 companies in seconds.”View full answer
- Gregory R.
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