There are times in many peoples' lives when bills go unpaid.
Usually this is because of a loss of employment, health issues, loss of a
loved one, or some other misfortune that distracts us from our
responsibilities or just puts us in a position where all the bills
cannot possibly all be paid. These are tough times and sometimes you
have to decide who to pay and who not to pay. You want to make sure the
family is fed, that you have a roof over your head, and that everyone
can stay healthy. After those needs are met, everything else is fair
game. I would suggest that your car insurance bill should be pushed
toward the top of the priority list and here are 3.5 reasons why.
1. Going without insurance is dangerous
Car insurance helps to protect you from financial ruin. You may already be in a tough spot so that may not be much of a concern for you, but a car accident could put both you and the other party in bad shape financially. Repairing damage done to vehicles in accidents is expensive, but the medical expenses are often much more costly. Going without car insurance is very risky.
2. If you let your insurance lapse, your insurance bill will go up
If you let your insurance lapse, you'll want to see if your insurance company will reinstate the policy from the date it lapsed. If reinstatement is not possible, you will have to pay more for insurance for at least a few years. Insurance companies will usually charge extra for those who have had a recent lapse of insurance.
3. The Nevada DMV will charge a fee for a lapse of any amount of time
1st offense penalties range from $251 - $1,251, depending on the amount of time your insurance has lapsed. If you go more than 91 days without insurance, you will be required to carry SR-22 insurance. "SR-22 Insurance" is a Certificate of Financial Responsibility that your insurance company will file with the DMV.
3.5. Law enforcement citations are possible
According to the Nevada DMV, "A law enforcement citation is separate from any DMV action. You must take care of the citation with the court listed on it and then resolve the DMV issues separately. There are two types of citations related to insurance. They have differing consequences with the DMV: 1. If you were cited for a suspended registration, you must reinstate the registration. You must visit a DMV office to receive new license plates if your plates were confiscated. 2. If you were cited for no insurance and you are convicted, you will be subject to a driver license suspension. You will have to reinstate your driver license and carry SR-22 insurance coverage." Again, it costs more money and more of your time and energy.
1. Going without insurance is dangerous
Car insurance helps to protect you from financial ruin. You may already be in a tough spot so that may not be much of a concern for you, but a car accident could put both you and the other party in bad shape financially. Repairing damage done to vehicles in accidents is expensive, but the medical expenses are often much more costly. Going without car insurance is very risky.
2. If you let your insurance lapse, your insurance bill will go up
If you let your insurance lapse, you'll want to see if your insurance company will reinstate the policy from the date it lapsed. If reinstatement is not possible, you will have to pay more for insurance for at least a few years. Insurance companies will usually charge extra for those who have had a recent lapse of insurance.
3. The Nevada DMV will charge a fee for a lapse of any amount of time
1st offense penalties range from $251 - $1,251, depending on the amount of time your insurance has lapsed. If you go more than 91 days without insurance, you will be required to carry SR-22 insurance. "SR-22 Insurance" is a Certificate of Financial Responsibility that your insurance company will file with the DMV.
3.5. Law enforcement citations are possible
According to the Nevada DMV, "A law enforcement citation is separate from any DMV action. You must take care of the citation with the court listed on it and then resolve the DMV issues separately. There are two types of citations related to insurance. They have differing consequences with the DMV: 1. If you were cited for a suspended registration, you must reinstate the registration. You must visit a DMV office to receive new license plates if your plates were confiscated. 2. If you were cited for no insurance and you are convicted, you will be subject to a driver license suspension. You will have to reinstate your driver license and carry SR-22 insurance coverage." Again, it costs more money and more of your time and energy.
