Instead of paying for auto insurance, can I set aside money for liability in case of an accident?

"Since I don't get in accidents often, I think it would be easier for me to set aside money instead of paying monthly premiums. Is this possible?"

“Though you can set aside money in case of an accident, you shouldn’t drive without car insurance. Most states mandate state minimum car insurance, and if you’re in violation of these requirements, you can be fined or even have your license suspended. You may end up paying much more than you would have with monthly premiums.
If you’re worried about costs, find savings on car insurance coverage with Jerry, a licensed broker that helps you compare rates from up to 45 companies in seconds.”
Sophie Newman
Answered on Jul 27, 2021
Sophie Newman is a writer from California. Her hobbies include brewing her own kombucha, riding horses, and taking long road trips.

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