Car insurance is required by law,
and it’s an expense a lot of people would rather do without. Paying regularly
for something that you don’t actually use on a regular basis – and may never
use if you’re lucky – can seem like it’s a money-making scam on the part of the
insurance companies.
The truth is that car insurance is an investment that you are making in protecting yourself and
your future from the unexpected. It’s not a scam – and yes, you really do need
it.
It’s
the Responsible Thing to Do
The laws requiring car insurance
exist for a good reason. If an error of judgment on your part causes someone
else to be injured or their property damaged, then you are responsible for the
cost of making it right. If you broke a friend’s property, you would feel that
the right thing to do would be to pay to repair or replace it. Why should it be
any different with a stranger?
When it comes to car accidents, the
level of financial responsibility is much higher. Damages can and do regularly
run into the thousands. What happens without insurance when people are
responsible for such damages but can’t pay for them? Extended court battles,
financial struggles, and simply a lack of the ability to carry the
responsibility for one’s actions.
Having car insurance makes certain
that you are financially responsible for any damages you might cause. You pay
that premium in order to maintain the ability to get those damages covered
should that day ever come when you face a claim against you. Car insurance is
required by law to protect everyone and make sure that you, too, will receive
compensation if you’re on the other side of the claim one day.
Accidents
Happen
It’s a common phrase for good
reason: yes, accidents happen. They happen every day to the tune of millions of
dollars in property damage and medical bills. They happen to good drivers.
Everyone makes mistakes. You carry car insurance because of that simple fact.
While most accidents are minor,
serious accidents are not at all uncommon. They can result in the total
destruction of your vehicle or that of another driver, and in serious injuries
that can leave someone off work for an extended period of time. They can leave
people dealing with final expenses for a loved one.
While car insurance doesn’t prevent
these things from happening, it provides a financial security blanket that
ensures that if nothing else; figuring out who everything will be paid for is
one thing you don’t have to worry about when you’re dealing with an accident
large or small.
Remember that an accident doesn’t
have to be your fault for insurance to be helpful. Even when the other driver
is at fault, it can still cover you if you’re involved with an uninsured or under insured motorist. It can cover you for the rental car you need, and even
pay for towing.
You
Can’t Afford Not to Have It
Unless you’re one of the few who is
independently wealthy and has a large supply of cash to draw on if you are
faced with a claim against you, then car insurance is something you simply
can’t afford to be without. Think about it this way: if you can’t afford the
car insurance premiums, how will you afford the much, much higher cost of
paying a claim out of pocket?
Car insurance doesn’t exist to scam
people out of their money on a product they may never use. It exists to protect
you against the very real risk that you could find yourself financially
responsible for some large bills you can’t afford to pay.
It’s true that car insurance is
something you pay for largely without using for long periods of time. But when
the day comes that you do need it, it can save you from a financial disaster.
It’s
Not Only Accidents
Many people think that since they
are good drivers, they have no need of car insurance. But there is another side
to car insurance. What happens if your car is stolen and wrecked? What happens
if it’s destroyed by fire, or keyed by vandals?
car insurance
is there for more than to cover you in the event of an accident. Most car
insurance policies today come with a range of extra coverage and services that
can make them valuable and helpful even if you never have an accident. Things
like roadside assistance and rental car coverage are helpful options that
increase the value you get out of your insurance policy.
Car insurance is something every driver needs
because no one can predict the future. Taking the risk of driving without
insurance is not only illegal – it can have a far-reaching impact on your life
should you make the gamble and lose.
