Cars are very necessary for our day to day operations; we all know how useful they can be while not forgetting the fact that they are driving a car is actually dangerous. You could try to me as careful as possible while driving but someone else’s mistake could cause accidents that could harm you or your car. Nevertheless, mistakes do happen, hence the need for car insurance.
Car insurance, also known as auto or vehicle insurance is an insurance policy for road vehicles such as cars, trucks and motorcycles. Vehicle insurance covers medical bills for the insured party, property damage caused by the insured and physical damage to the insured vehicle. They also cover for third parties; these third parties include cars, properties and bodily injuries or damages. Vehicle insurance terms vary with legal regulations in different regions, they also vary with specific circumstances under which items are covered, and for example, a vehicle can be insured against theft, accidental damage or fire damage independently or all together. They also vary depending on age, gender, years of driving experience, accident and violation history and a host of other factors.
Car insurance is needed because it helps protect you from financial liability. Whenever these unforeseen events happen, car insurance covers for it. It also covers for a medical bill after accidents, being in an accident is bad enough; having to pay for it in such a condition isn’t so easy. Medical bills are also quite expensive to pay. The fact that your car is insured makes you drive confidently without worry. Being tensed and under pressure isn’t good for driving, it can be very risky. Car insurance covers for repairs and replacement of vehicles. Depending on the severity of the accident, cars could either be repaired or replaced. Car insurance can also provide financial support if your car is stolen, vandalized or even destroyed by fire.
The significance of having car insurance are so numerous. Car insurance is an investment on its own and is a must have for every car owner.