The Insurance Research Council has found that an alarming number of drivers are dropping auto insurance coverage to save money in the recession. The council believes the numbers will increase from one in every ten motorists to one in six by next year.
Premiums are far higher for drivers who have been uninsured than they are for insured motorists seeking a new policy. "When the time comes and they want to get coverage back in force, it
forces the insurance company to look at them as though they are an
uninsured driver and that is very illegal in the state of Indiana,"
said insurance expert Stephen Nealon of State Farm Insurance.
Excerpted from WISHTV.com.
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