Car Insurance - Americans cutting back on car insurance

With the current financial situation, the winter freeze is the last thing on people’s minds. In America, in an attempt to save money, drivers are now cancelling their car insurance policies. A growing number of motorists are cancelling their car cover, because other than the legal issues, driving could end up costing far more money. The average car accident costs range from $3,000 - $4,000, with penalties leading to 60 days in jail. This is a risk the public do now want to take. Tim Gruel, an insurance agent commented that car insurance although presents certain costs, is a necessity: “It can be devastating. Your auto insurance is your first line of defence for liability with your family.” Therefore, Gruel stated that a driver should never drop their insurance, but instead review the policy to find ways to cut the costs, like increasing the deductible. He said that keeping liability insurance in tact is the most crucial issue. “You could be out of your house and lose all of your savings. You think you're in a bad economic condition now, well if something like this happens, you will be completely wiped out and devastated.”