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Wisconsin Car Insurance Requirements
Wisconsin, unlike most other states does not require that you have car insurance. This may seem very strange. Don’t think that people are just recklessly driving around the roads of Wisconsin without car insurance. No, drivers still have to prove that they are able to financial be responsible for an accident if it were to happen.
What does that mean exactly? It means they have to show that they have the ability to pay for the expenses that would come up if they were at fault in an accident. You may think that you are the safer driver in the world and may be pulling out the boxes and getting ready to pack up and move to Wisconsin as you read this but hang on there a second and mull a few things over before you jump ship.
Accidents can be very expensive. In fact, they cost consumers and the insurance industry billions of dollars a year. While it may seem like not having to pull money out of your pocket each and every month for something that may or may not happen is a better option, remember they are called accidents for a reason. Nobody plans to have an accident. However, they do happen.
If you were to have an accident and you did not have insurance and it was your fault because you forgot to look over your shoulder before you changed lanes, do you have $25,000 to pay for the medical expenses for that van that you struck that had the mother and children in it? You didn’t know that they would swerve into the median and then swing around into oncoming traffic and hit another car. Do you have the $30,000 it is going to cost to pay for all three vehicles, yours included, that need to be repaired? This isn’t a necessarily bad accident just little more than a fender bender, but you don’t have insurance. Still sounding like a good idea?
There is only one caveat to this rule, in the event you have ever lost your privilege to drive, than you will be required by the State of Wisconsin to have car insurance. That means if you got hit with a DUII or something like that and lost your license the no insurance doesn’t apply to you.
What proof of being able to pay in case of an accident means is that you will have to place $60,000 in cash down as a deposit with the State Department of Transportation. If you do not have this kind of cash just sitting around that you can afford to just put into a deposit account forever, because you will never be able to take it out as long as you are driving, than you will want to go ahead and get car insurance.
See, this is why I said not to start breaking out the packing boxes yet. No need to call the moving truck company either. It really is not as sweet a deal as it sounds on the surface. All in all, insurance is always going to be the sweetest deal when it comes to protecting yourself from a car accident.