Load Up on Car Insurance During a Recession
The Wall Street Journal reports an alarming rise in uninsured drivers during tough economic times. Makes sense, but unfortunately it doesn't affect only the people who choose to drive without car insurance. As the article explains, "The trend is bad news for everybody on the road. If you're hit by an uninsured motorist, you may have to sue to recover costs, and many uninsured motorists have few assets."
So what can you do? Make sure you add uninsured-motorist coverage to your policy if you don't already have it. Your premium may go up a bit (about 7-9%), but at least you won't be at the mercy of renegade motorists. Learn more in our Purchasing Car Insurance survival guide.