Why Car Insurance Is a MUST!
The vehicle you have or will purchase is one of your largest purchases you will ever make, next to buying a house. You never really thought of it as that big of an investment did you? Statistics prove that an average homeowner will switch homes two to three times throughout a lifetime, while an average car owner will switch at least ten times, making your car and its insurance extraordinarily important.
The law requires that every car on the road is insured. Basic insurance or compulsory insurance only covers any other cars for damage and repairs in an accident that is defined as your fault. If your car is also damaged, the costs will come out of your own pocket.
Most people who have owned a car at one time or another are well aware of the minor details surrounding car insurance, which doesn’t hold true for first time car owners.
Buying a car for the first time is a big step in a man or woman’s life. However it also comes with some risk and more expenses.
Of course you do not. But people will refer to you as stupid if you go out, are involved in an accident, and now have no means to cover the damages. Now you are walking or biking to work.
If you have no comprehensive insurance when such a calamity does strike, you are left out in the cold to fend for yourself.
That is why car insurance providers heavily recommend comprehensive coverage.
If you are buying your first car, this is especially important. Chances are you are young and somewhat inexperienced as a driver. Comprehensive coverage will protect your vehicle from one minor mistake you might make or from theft, especially if your vehicle contains a lot of desirable goods for thieves.
Comprehensive car insurance will cover anything from accidents where you are at fault, to accidents where no one but yourself was involved, or cases of theft. It’s very important to cover yourself from damages incurred via theft.
Not taking out comprehensive insurance is a disaster waiting to happen. If you really have any wits, you will understand the small annual insurance premium is well worth the expense.
Graham McKenzie is the content Syndication Manager at Insurance123.co.za South Africans leading car insurance information portal
