auto insurance

Yes, You Need an Auto Insurance—Here’s Why

People purchase cars for convenience. You can go anywhere you need and want if you have your own vehicle. And during a pandemic where social distancing is crucial, driving on your own to get to places puts you at a lower risk of transmission than taking public transportation. Because of this, the demand for used and new vehicles rose during the pandemic, despite the economic instability it brought.

Car ownership doesn’t just mean paying for the car itself, gas, and maintenance. It also involves paying for car insurance. And for most people, they don’t really have a choice regarding the latter. Most states require car insurance by law. A few don’t require it.

As a result, many car owners are left uninsured by choice. In 2015, 13% of motorists in the U.S. were uninsured. The state with the most uninsured motorists is Florida at 26.7%, while the lowest is Maine at 4.5%. But why?

Reasons Car Owners Don’t Get Car Insurance

Car owners have many reasons to refuse to buy insurance. First, it’s expensive. In 2016, the average car insurance spending in the U.S. was $1,149.

Some car owners also don’t get insurance because they don’t trust insurance companies. They may have personally experienced or heard someone have questionable deductions or have their claims rejected despite their validity. And sometimes, the process of getting an insurance claim takes a long time.

These worries are understandable, of course. But in the grand scheme of things, the benefits of car insurance are too good to pass. If you’re still on the fence about getting car insurance coverage, here are some reasons to get one as soon as you can:

Protection from Theft and Damages

A comprehensive car insurance coverage often comes with theft protection. Even though property crimes have gone down since the start of the pandemic, you shouldn’t be complacent. It’s always nice to have a backup plan if your car does get stolen.

Along with theft protection, car insurance also covers damages. If you get into an accident and damage your car in any way, you can file a claim and receive money to pay for your repairs.

Accident Coverage

Some car insurance plans also cover personal injuries as a result of a covered accident. Your insurance can cover your treatments from a chiropractor after a vehicular accident. The medical coverage of your insurance may also cover your passengers. This coverage may include hospital bills and surgery.

Disaster Coverage

car accident

Disasters, natural or not, can happen anytime. Many car owners deal with damages caused by water, fire, and falling objects every year. From 2014 to 2016, about 171,500 highway vehicle fires occurred in the U.S., mostly passenger vehicles. Meanwhile, in 2020, approximately 446,000 cars were damaged by floods.

These damages come with a heavy financial burden. But if you have comprehensive car insurance, it will give you peace of mind if any of these damages occur on your vehicle.

Assurance Someone Else Uses Your Car

The car insurance is for your car, not whoever’s driving it. If you often share your vehicle with your someone, whether a family member or your partner, you can be assured that if they ever get into a vehicular fiasco on the road, your car insurance is still in effect.

Big Savings in the Long-term

Paying for insurance can be heavy on your monthly expenses. But you get to save money in the long run because of it. For an entire year, you’ll only need to pay around $1,149 to get all the benefits listed above: theft protection, disaster coverage, and accident coverage. In case of an accident, you’ll pay less for the damages, if any at all.

Better Value at Resale

Even if nothing happens to your car, your insurance doesn’t go to waste. When you decide to resell your car, having a comprehensive car policy will show potential buyers that you cared for your vehicle and is still worth the purchase.

Or, if something does happen to your car, the compensation you can get from your coverage can help you restore it to its original state and avoid devaluation.

Overall Peace of Mind

One benefit of having a car insurance policy that most car owners overlook is the peace of mind it brings. When your car is insured, you won’t have to stress about having enough money in case of an accident or damage.

Car insurance should be a non-negotiable. With the dangers of driving and the unpredictability of certain roads, your car insurance will protect you and your vehicle and save you money in the long run, too.

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