Do you consider car insurance somewhat of a grudge-spend? It’s time to think again. It is critical that you have adequate car insurance so that you can protect yourself should you have an accident. But, insurance doesn’t only protect you, it also safeguards others that could be in the car with you. Car insurance also covers family members who regularly drive the car.
Car Insurance Doesn’t Only Protect You
Car insurance doesn’t just protect you. Should you have an accident, the insurance covers both you and your vehicle, as well as any other people that might have been involved. There are a variety of different policies you can purchase depending on how much coverage you want and your budget.
Why Do Some Drivers Not Have Cover?
Some car owners choose not to take out vehicle insurance. But in many countries, like here in Australia it is compulsory to have at least third party insurance. Reasons for drivers not purchasing car insurance include not being able to afford it, the cost of the insurance in a year sometimes being greater than the price of the car, and drivers thinking they have never had an accident before so don’t see insurance as necessary. But none of these help you when an accident does occur.
Don’t Skimp on Insurance. Here’s Why
Having adequate cover should be on the top of your list along with utilities, rent, and food. Let’s look at a few reasons why you should have your car insured:
- Should you have an accident and it is your fault, if you don’t have car insurance you risk leaving a vulnerable victim without the care they require to recover.
- Should you be hit by an uninsured driver and you don’t have insurance either, your medical care will not be covered by any kind of personal liability insurance that usually makes up car coverage. Health care can be extremely costly.
- If you care is stolen or written off, you may be left without transport if you are unable to replace the car.
- Driving without insurance can render you personally liable for high third party claims should you have an accident.
- Insurance covers damages to your car in unexpected events. If your car is vandalized, stolen, or damaged by weather, it can be expensive. Surely you don’t want to risk the losses that may ensue.
- Drivers can apply for vehicle insurance rates on policies that include further protection, such as cover for your CD player and sound system. This means you’re covered in the event that your accessories are stolen.
- Sometimes a serious collision is enough to put you on the brink of bankruptcy. If you don’t have adequate vehicle cover, you could lose everything. Is that worth the risk? The money you would have to lay out for lawsuit judgments, medical expenses, and of course car repairs, should be well worth the investment in car insurance.
- Car insurance rates on top quality policies can ensure you drive with peace of mind since you will know that you are properly protected against anything that might happen to you on the road.
If you don’t already have car insurance, it may be time to consider shopping around for policies and pricing.