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Wednesday, 28 January 2015

Importance of car insurance

Importance of car insurance

You may be a very careful driver but you never know when someone else will cause an accident that involves you, which is why you must have insurance cover for your car. By having car insurance, you are protecting yourself as well as others who are in your vehicle at the time of the accident, and also any other people who may be involved.

Reasons to why you need motor insurance:
  • You are protecting your car, one of the largest investments you make in your life
  • You are able to pay for medical bills if an accident occurs
  • You don't have to feel the biggest part of an accident-related lawsuit
  • Protects you from those motorists that may not have insurance of their own
  • Comprehensive insurance policies not only pays for accidents and weather-related incidents, but also pays for vandalism and theft
  • You know you are protected every single time you hit the road
There are many different types of car insurance policies available depending on the type of coverage you want. Each car insurance coverage has its place on certain policies, which depends on the driver and what their expectations are of the policy.

With the help of the insurance company you can choose the appropriate policy for both your budget and your own personal needs. The insurance premium is your payment which are paid monthly, quarterly, semi-annually, or annually. The amount of insurance premium are determined by certain factors, which are:
  • Occupation
  • Age
  • Driving history
  • Gender
  • Distance you drive
  • Type of car you drive
Motor insurance covers much more than just collisions. There are natural disasters that we have absolutely no control over, such as overturned trees from high winds or occasional hail storms throwing golf ball-sized hail out of the sky which can cost a lot to repair when paying out of your pocket. The insurance company may charge a small deductible depending on the type of accident that has occurred but the cost is minimal compared to what it would cost to fix a car on your own.

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