Even you are driving an old clunker that had been paid off for years, automobile insurance is something you shouldn't skip. If you are involved in an accident, and someone is injured or their property is damaged, you could be subject to a lawsuits that could possibly cost you everything you own. Accidents happen quickly and the results are often tragic. Having on automobile insurance or purchasing only the minimum required coverage saves you only a tiny amount of money, and puts everything else that you own at risk.