The Wall Street Journal has an article today about road risks rising as more drivers cancel insurance. It cites a recent survey by insurance.com: as many as 40% of callers following up on online applications had let their previous policies lapse, up from less than 10% a couple of years ago.
WSJ sums it up nicely:
WSJ sums it up nicely:
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. You can protect yourself by carrying uninsured-motorist coverage -- almost half of states require the added coverage -- but this may boost your premium.
