WEST PALM BEACH, Fla. — While car insurance is legally required in nearly every state, a new LendingTree survey found many drivers are making risky trade-offs or scrapping auto insurance because the financial burden is becoming too great.
The latest outlook shows Florida has one of the highest rates of uninsured drivers. Mississippi has the most uninsured drivers, while Michigan, New Mexico, Tennessee and Washington also rank high.
Of the 2,000 drivers surveyed, nearly 30% admitted to driving without insurance at some point. 41% of drivers with insurance say they're reducing their coverage to offset higher costs. Many say that includes opting for liability policies only, even if it means foregoing protection on their personal vehicles.
Roughly 53% of drivers say they're cutting back on expenses in other areas like eating out, streaming services or gym memberships so they can afford car insurance.
Read full survey here.
