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 are aware of this and cannot afford to pay for the high car repair costs or for a new vehicle if the old one is damaged.
When accidents do occur, they are often deadly and tragic. The vehicles are usually demolished and totaled, and if fixable, they will cost a lot of money!
Not only will you be paying a lot of car payments and such, but also expenses for repairs and the small chance it might be involved in an accident.
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.
Insurance premiums are calculated on an annual basis, and should run at around 6% of the replacement value of your car. A lot of people will gladly cover that amount to insure much stronger protection from the insurance company.
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.
As you can see, ignoring comprehensive car insurance is a grave mistake. Save yourself the hassle and spend a little extra every year on your insurance policy.
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 are aware of this and cannot afford to pay for the high car repair costs or for a new vehicle if the old one is damaged.
When accidents do occur, they are often deadly and tragic. The vehicles are usually demolished and totaled, and if fixable, they will cost a lot of money!
Not only will you be paying a lot of car payments and such, but also expenses for repairs and the small chance it might be involved in an accident.
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.
Insurance premiums are calculated on an annual basis, and should run at around 6% of the replacement value of your car. A lot of people will gladly cover that amount to insure much stronger protection from the insurance company.
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.
As you can see, ignoring comprehensive car insurance is a grave mistake. Save yourself the hassle and spend a little extra every year on your insurance policy.
About the Author:
Graham McKenzie is the content Syndication Manager at Insurance123.co.za South Africans leading car insurance information portal
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