Why Should You Have Car Insurance? 4 Reasons Why It’s Absolutely Necessary
car insurance
Unfortunately, car accidents happen every day. Whether they’re minor or major, it’s important to have some insurance coverage to protect you and your passengers.
Although nobody likes adding more to their monthly bills, car insurance is absolutely necessary if you own a vehicle.
Here are four reasons why you need to have it.
It May Be Required By Law
In most states, car insurance is a requirement by law. There are different levels of coverage to choose from, but you must have at least some level of coverage.
If you’re caught without insurance, you could face steep fines or even jail time. So even though it may seem like an unnecessary expense if you don’t have to use it very often, driving uninsured is not worth the trouble.
Whether or not you drive every day, whenever you take your car somewhere, you run the risk of an accident occurring.
You’re Covered If You Cause an Accident
Even if you think you’re a great driver, there may come a time when you unintentionally cause an accident, whether it’s a minor fender bender or an accident on the freeway.
If you’re the person at fault, you’re responsible for all costs. But if you have a good insurance policy, some of these costs may be paid for regardless of who is at fault.
Your Assets Are Protected
Aside from your home, your car is likely your second largest asset, and car insurance helps protect it.
In addition, if you’re involved in an accident and don’t have any insurance, you will be required to pay out of pocket for repairs.
Depending on what happened and what kind of damage your car sustained, this could amount to a very large sum of money, from a part replacement to junking your entire vehicle.
If you cannot pay, a court ruling could start taking some of your other assets to offset the cost.
No matter how much or how little you have to lose, don’t play with fire. You must insure your vehicle no matter what to protect you and your bases.
Damages That Are Not Your Fault Are Covered
Even if you aren’t directly involved in an accident, car insurance will help protect you in instances where your car is damaged by an “act of God.”
This would include damage caused by extreme weather events like ice storms, wildfires, and hail.
Car insurance also covers instances where no drivers are at fault. In addition, it’s helpful to have this coverage if your car is ever vandalized or stolen.
Some policies may even cover any items in your car that are damaged or missing if your car is stolen.
Although you don’t use it daily, car insurance is extremely beneficial.
A good policy can give you peace of mind knowing that if something happens to your car, you will not have to pay out of pocket to fix it.
Category: Car Insurance
