Car Accident Protection: Why You Should Always Have Vehicle Insurance

Insurance is a protection from the unexpected. For many people, insurance is an unnecessary expense, not until something happens. 

Accidents do happen, and one occurs when you least expect it. For instance, a car accident may result in property damage or bodily injury. Regardless of how good or careful a driver you are, you are not exempted from this type of accident. 

Thankfully, vehicle insurance will allow you to have financial assistance for the damage to your vehicle and other related properties. Hence, with insurance, you’re essentially buying protection or peace of mind. 

That being said, here are more reasons why you need to get vehicle insurance:

1. Mandatory Requirement Of Lending Company Or The Bank

The lending company or the bank requires you to acquire vehicle insurance, and, usually, the coverage should be comprehensive. This is to cover the cost of repair and replacement of parts in case of an accident.

If you’re leasing your vehicle, the lender will require you to give proof that you have vehicle insurance for your car. As Attorney Joe Stephens attests, getting insurance will help cover this requirement when you’re going to borrow from the bank. 

2. Financial Protection

Financial protection is something that car insurance will offer you. There is a myriad of unexpected things that might cost you money. Getting car insurance is a kind of risk mitigation that can soften the blow if ever you get into a car accident. Getting car insurance will provide financial protection from the following events:

• Third-party liability: If your car accident causes injury or death to the other driver or passengers, you’ll be in a lot of legal and financial trouble. Third-party liability is the car accident insurance that will protect you financially if you cause an injury on another person in a car accident. 

Thankfully, the coverage for third-party liability will help pay for bodily injury or death to the third party. It also covers hospital bills of the passengers and the driver.

• Property damage: Whether the damage is inflicted on your car, another vehicle, or whatever property, the insurance company reimburses the expenses incurred. Other properties can also

• Own damage: Own damage coverage pays for the repair and replacement of the damaged parts of your car in case of accidents. Your car hitting a tree is an example of an accident that warrants filing an own damage claim.
• Theft: The insurance company will reimburse you if your car has been stolen. It covers break-ins that may damage part of your car. A broken doorknob, glass window, and other parts of your car are also compensated by the insurance company. 

However, the loss of personal belongings is not included. It’s advisable not to leave any valuable personal belongings in your car. When thieves see valuable things in your car, they’ll be tempted to break in your car.

• Act of nature: Global warming has caused a very big impact on the weather system. There are countries experiencing storms that are more intense and violent than before. There are storms that create a storm surge and possibly even flood the whole city. 

Thankfully, the act of nature coverage pays you for the damages to your car caused by natural occurrences. These include earthquakes, landslides, or volcanic eruptions. You cannot tell when these storms or earthquakes will come, so it’s best to be ready for them and control the things you can control by getting insurance. 

3. Protect Passengers

When you get into a car accident, there’s no telling how severe the damage will be. Luckily, there are certain types of vehicle insurance that also cover medical payments if ever you’re injured in the accident. Any of these will help cover your and your passenger’s medical bills. It’ll also cover bills from surgery, hospital visits, consultations, professional fees, and medical exams.

Thus, by having vehicle insurance, you won’t have to worry about the car repair expenses and your medical bills as well, lifting a large burden from you when you encounter an accident on the road. An insurance premium is a small price to pay to take care of medical bills if ever something happens to you.

Conclusion

There are people who think that accidents will not happen to their cars. But, based on statistics, car accidents may happen at least once in your lifetime.

Looking at the reasons enumerated above, you will save a ton of headaches if you have vehicle insurance.