Owning a car is incredibly useful, and in most cases, people get one as soon as they possibly can. Now, and this is especially true for those buying their first car – many people aren’t aware of the additional costs that go with buying a car. Among other things, you have to think about registration and title fees, dealership fees, financing charges, sales taxes, and insurance costs. Some of these additional costs might seem unnecessary, or even exploitative. While this argument can be made for, let’s say – dealership fees, it can’t be made for car insurance.
There is a wide span of situations in which having car insurance is invaluable, and hence many reasons for you to get one. While some people choose to “risk it” and opt-out of getting their car insured, it’s very much safer not to do so. In case you’re still on the fence and want to learn more about getting your car insured, you will find all you need to know in this article.
First things first – it’s legally required (in most cases)
You may not be aware of it, but in most countries, you are legally obligated to get your car insured. In case you fail to do so, you can get in some unnecessary problematic situations if you get caught. In fact, getting caught driving a car that isn’t insured can result in facing fines, getting your license/registration suspended, and you can even face jail time. All that being said, depending on where you live, the repercussions for driving a car that isn’t insured can be quite severe.
Even with all these possible repercussions, some people still choose not to insure their cars. The most common reason for this is financial struggle, and hence the inability to finance the insurance. The thing is though, finding cheap car insurance doesn’t have to be all that difficult. In fact, you can find cheaper alternatives out there, they definitely exist. Some may offer less than the more expensive options, but any degree of protection is better than none.
General financial protection
Without a doubt, car insurance ensures that you have a financial safety net in many different ways. It helps with any issues related to you and your vehicle, but also to the other party, if applicable. If you’re ever in a car accident where you’re the one responsible, you’ll also be responsible for the costs related to the accident in question. While many people tend to think that something like this will never happen to them, if it does, the financial strain can be a difficult one to pull off. With things like this, it’s simply better not to risk it, as financial protection is incredibly important.
This is where liability coverage comes into play – your insurance can help you with finances related to you, but also to others involved if you’re responsible. Liability coverage covers medical fees, but also legal fees for the party involved, as well as lost income in case their work was affected by the accident. Now, let’s see how car insurance also helps you in case of an accident.
Repair costs
Liability coverage is one thing, but there are plenty of other coverage options that can help you not burn a hole in your wallet in case your vehicle is damaged. This is exactly why people opt for collision coverage and/or comprehensive coverage. Now, it is also important to mention that these types of coverage don’t only help you repair your car in case of a vehicular accident. It can also help you in case your car gets damaged in a naturally occurring event.
So, if your car gets damaged by a hailstorm, fire, flood, or anything similar – comprehensive coverage is there to help. If you don’t have this type of coverage though, you will end up having to pay for the damage from your own wallet.
Legal fees
It’s not all that uncommon for a car accident to end up getting settled in court. The legal fees that come with such cases can be quite high, and if you can avoid paying for them – it’s best for you to do so. Getting your car insured can help you with this, as car insurance can also cover these fees, so, hiring a lawyer, filing the case, and similar.
Replacing a stolen car gets easier
Having your car stolen is frustrating and financially draining – to say the least. This is especially true if you don’t have car insurance, but if you do have it, your insurance company can help you get back on the road. Your comprehensive coverage is going to be a lifesaver in case your car gets stolen, so, better to opt for it than not to!
It protects you in case of an accident
Of course, one of the biggest problems associated with being in a car accident is the medical aspect of it all. Medical expenses can get incredibly high quite quickly, and yet they are absolutely essential if you are injured. This is perhaps the main reason why it would be best for you to get car insurance – it’s just better not to gamble with these things. If you live in a no-fault state, it would also be a good idea to opt for uninsured motorist coverage. If you live in South Dakota, you might be qualified for SR-22 insurance, which isn’t your regular insurance but acts as proof and assurance that a high-risk driver has the minimum required coverage. For drivers who have been convicted of a significant traffic offence, sr22 insurance south dakota is required. This coverage helps cover your medical bills in case the driver responsible for the accident didn’t get their car insured.
And it can also protect your passengers!
Not only can car insurance help protect yourself in case of an accident, but it can also help protect other passengers in your car. If you opt for medical payments coverage and personal injury protection, your insurance company can also help with your passengers’ expenses in case of an accident.
In the end, the risk that comes with opting out of insuring your car heavily outweighs the pros for doing so. You never know when car insurance will come in handy, and you can’t possibly predict when that time will come. If it does come, however, you are going to be grateful that you did all you can in order to minimize the impact of the accident in question by opting for car insurance.
Finally, the decision on whether you should or shouldn’t get car insurance is ultimately yours to make. But, after reading this article, you have learned more about the reasons why you should do so, and can hence make a well-informed decision. Good luck out there!