Family Auto Insurance Agency
  • Home
  • Online Quote
    • Auto Quotes >
      • Auto Insurance Quote
      • ATV Insurance Quote
      • Roadside Assistance Quote
      • Motorcycle Quote
      • RV Insurance Quote
    • Business Quotes >
      • Business Insurance Quote
      • Business Owners Package (BOP) Insurance Quote
      • Group Benefits Insurance Quote
      • Workers Compensation Quote
    • Property Quotes >
      • Home Insurance Quote
      • Earthquake Insurance Quote
      • Flood Insurance Quote
      • Landlords Insurance Quote
      • Renters Insurance Quote
    • Other Quotes >
      • Boat Insurance Quote
      • Event Insurance Quote
      • Umbrella Insurance Quote
  • Service
    • Report a Claim
    • Make a Payment
    • Update Contact Info
    • Policy Changes
    • Proof of Insurance
    • Client Center
    • Policy Review
    • Online Documents
    • Free Consultation
  • Insurance
    • Vehicles >
      • Auto Insurance
      • ATV Insurance
      • Boat Insurance
      • Motorcycle Insurance
      • Roadside Assistance
      • RV Insurance
    • Business >
      • Business Insurance
      • Business Owners Package (BOP) Insurance
      • Group Benefits
      • Workers Compensation
    • Property >
      • Home Insurance
      • Earthquake Insurance
      • Flood Insurance
      • Landlords Insurance
      • Renters Insurance
    • Other >
      • Event Insurance
  • About
    • Staff Directory
    • Client Testimonials
    • Refer a Friend
    • Agency Photo Gallery
    • Newsletter Signup
    • Blog
    • News
  • Contact
  • Home
  • Online Quote
    • Auto Quotes >
      • Auto Insurance Quote
      • ATV Insurance Quote
      • Roadside Assistance Quote
      • Motorcycle Quote
      • RV Insurance Quote
    • Business Quotes >
      • Business Insurance Quote
      • Business Owners Package (BOP) Insurance Quote
      • Group Benefits Insurance Quote
      • Workers Compensation Quote
    • Property Quotes >
      • Home Insurance Quote
      • Earthquake Insurance Quote
      • Flood Insurance Quote
      • Landlords Insurance Quote
      • Renters Insurance Quote
    • Other Quotes >
      • Boat Insurance Quote
      • Event Insurance Quote
      • Umbrella Insurance Quote
  • Service
    • Report a Claim
    • Make a Payment
    • Update Contact Info
    • Policy Changes
    • Proof of Insurance
    • Client Center
    • Policy Review
    • Online Documents
    • Free Consultation
  • Insurance
    • Vehicles >
      • Auto Insurance
      • ATV Insurance
      • Boat Insurance
      • Motorcycle Insurance
      • Roadside Assistance
      • RV Insurance
    • Business >
      • Business Insurance
      • Business Owners Package (BOP) Insurance
      • Group Benefits
      • Workers Compensation
    • Property >
      • Home Insurance
      • Earthquake Insurance
      • Flood Insurance
      • Landlords Insurance
      • Renters Insurance
    • Other >
      • Event Insurance
  • About
    • Staff Directory
    • Client Testimonials
    • Refer a Friend
    • Agency Photo Gallery
    • Newsletter Signup
    • Blog
    • News
  • Contact

Family Auto Insurance
​Agency Blog

Why Should I Keep My Auto Insurance?

3/3/2022

0 Comments

 
Picture
​For many people, the value of automobile insurance is not immediately evident, particularly if you're a new car owner and driver. 

Nonetheless, car insurance provides you with protection in the event of an accident. You may not know how your auto insurance premium is protecting you, your family, and your vehicle. Despite not always being able to control whether an accident happens or not, you can be protected with an auto policy.

So if you are considering canceling your insurance, here are some reasons why you might reconsider.
Importance of Having an Auto Insurance
1. It Assures Financial Liability
If you cause a vehicular accident, you may be held liable for the costs involved. These can include legal bills, medical costs, and lost wages if the accident victim cannot work due to injury. These expenses may be covered by liability insurance. You'd have to pay these charges yourself if you didn't have liability insurance (or acceptable liability restrictions).

2. Coverage for Driver and Passenger Liability
Driving without insurance coverage is risky for you and your passengers.  Nonetheless, car insurance benefits include personal accident coverage up to a certain level. 

This premium could protect you from permanent total disability and death due to an accident. Not only that, for a predetermined cost under your auto policy, it could also cover other passengers in your vehicle (limit according to the car's maximum seating).

As a result, availing of auto insurance will help you drive on the roads at ease.

3. It Guarantees Repairs and Replacements
An insurance adjuster assesses the extent of the damage in an accident. They also determine whether the vehicle should be repaired or replaced.

Even though you own your car, comprehensive and collision coverage on your auto policy may be beneficial. While liability insurance is legally required to cover damage done to another driver's vehicle, it's also necessary to have coverage for your vehicle.

In short, even if you’ve caused damage to your car or someone else's, your insurance may cover the expenses for the compensation whether you need repairs or replacements.

Can I Just Stop Paying For Insurance?
Sometimes individuals who can no longer afford their premiums cut costs by skipping payments, unaware of the repercussions. 

If you stop paying your premiums, your car insurance will lapse or be canceled. As a result, you will certainly face financial consequences such as the following:
  • The next time you apply for new insurance and insurers discover that you've had a history of not paying your premiums, you'll be labeled a high-risk client.
  • Even if it's just a temporary lag in payment, you may be charged administrative fines by the DMV in several jurisdictions.
  • As some states require drivers to get their car insurance, there's a possibility that your car registration or even your driver's license will get canceled.
  • Even though it's just for a short time, you will almost certainly experience a rise in rates during the renewal of your insurance rates.
  • Your credit score may drop, which is a necessary factor for getting loans or a credit card. 

Conclusion
Stopping your payments or coverage is a mistake and it could cost you huge money in the long run. So it's better to pay bit by bit for your premiums instead of having unnecessary stress in your life caused by canceling your auto insurance. 

On top of that, keeping your vehicle policy intact will not only save you money but can also save others from financial ruin.

At Family Auto Insurance Agency, we put our clients first by offering them policies that they can afford. Having insurance is a necessity nowadays, and we're here to help you out. Learn more about our products and services by calling our agency at (313) 285-9042. You can also request a free quote by CLICKING HERE. Coverage discussed in this article is not guaranteed. Please contact our agency to go over your existing coverage. We are happy to help you make sure your needs are being met!
0 Comments



Leave a Reply.

    Contact Us

    Detroit Office:
    6442 Michigan Ave
    Detroit, MI 48210​
    (313) 285-9042

    Lincoln Park Office:
    3205 Dix Hwy 
    Lincoln Park, MI 48146
    (313) 288-1550
    Click Here to Email Us

    Archives

    March 2025
    February 2025
    January 2025
    December 2024
    November 2024
    October 2024
    September 2024
    August 2024
    July 2024
    June 2024
    May 2024
    April 2024
    March 2024
    February 2024
    January 2024
    December 2023
    November 2023
    October 2023
    September 2023
    August 2023
    July 2023
    June 2023
    May 2023
    April 2023
    March 2023
    February 2023
    January 2023
    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    January 2020

    Categories

    All
    Auto Insurance
    Business Insurance
    Business Owner's Package (BOP) Insurance
    FAQs
    Financial
    Flood Insurance
    Home Insurance
    Insurance
    Local
    Motorcycle Insurance
    Renters Insurance
    Safety

    RSS Feed

Navigation

Homepage
Insurance Quotes
Policy Service
Insurance Products
Contact Us
Agent Login

Connect With Us

Share This Page

Contact Us

Family Auto Insurance Agency
Detroit Office:
6442 Michigan Ave
Detroit, MI 48210​
(313) 285-9042
Lincoln Park Office:
3205 Dix Hwy 
Lincoln Park, MI 48146
(313) 288-1550
Click Here to Email Us

Location

Family Auto Insurance Agency - Detroit, MI
Review Us
Website by InsuranceSplash