This is a collaborative post.
Paying for car insurance might seem like a pain in the neck. It is required by law in most states, and it is a necessity if you want to work for rideshare companies like Uber or Lyft (here, you can check the best rideshare insurance for drivers). However, many people tend not to see how valuable it is and resort to buying the minimum required coverage, while others might choose not to buy car insurance at all if possible.
Is it the right thing to do? It depends. On the one hand, if you cannot afford to pay high insurance premiums, purchasing car insurance might end up being devastating for your personal budget. On the other hand, it can really come in handy in a number of situations.
In this article, you will find a list of reasons why car insurance is important, including protecting you from huge expenses, taking care of bodily injury costs in the event of a car accident, handling the fallout from a car accident, and giving you peace of mind. Let’s take a closer look!
Can Protect You From Huge Expenses
One of the most important reasons why car insurance is essential is that it can protect you from huge expenses in the event of an accident. When you are at fault, you will have to pay for the damages to your property and the property of others, as well as compensate them for their injuries – there is the cost of medical bills for whoever was injured in the accident. This can easily amount to tens of thousands of dollars.
Luckily, if you have car insurance, you will not have to take care of the expenses on your own. If you have comprehensive car insurance, your insurer will help you pay for having your car repaired and compensate other people involved in the accident for damages and injuries.
Can Help You Take Care of Bodily Injury Costs
In the event of a car accident, you can be held liable for the bodily injury costs of the people involved. Fortunately, if you have comprehensive car insurance, particularly bodily injury coverage, your insurer will help you take care of the medical bills of others involved in an accident that you were responsible for, as well as your own.
If you live in a state where personal injury protection insurance is mandatory, you should not skimp on it. It can amount to thousands of dollars worth of coverage, protecting you from having to pay costly medical bills out of pocket.
Usually, this type of insurance will help you pay for each of your medical expenses, including doctors’ visits, hospital stays, and rehabilitation. Some insurance policies can cover the medical expenses of people who were passengers in your car, too.
Insurers Can Handle the Fallout from a Car Accident
If you have comprehensive car insurance, your insurer will help you handle the fallout from a car accident. In most cases, the insurer will handle the paperwork for you, which will be a huge relief. If a lawsuit is involved, your insurer can pay for a lawyer and negotiate a settlement for you.
On top of that, insurers can help you settle a claim directly with the other driver’s insurance company. It is easier and faster than going to court and often leads to a more comfortable settlement. Moreover, some insurers will help you take care of your car repairs and the rental car fees if you need one.
Gives You a Peace of Mind
If you have comprehensive car insurance, you will feel more confident knowing that you are protected from the high costs of ending up in a car accident. You will not have to pay for your medical bills, your car repairs, and the bills of other people who were involved in the accident. On top of that, your insurer will try to settle a claim as quickly as possible and make things easier for you.
Getting all these factors covered, you may even get less overwhelmed and reduce driving-related anxiety while being on the road.
What Kind of Car Insurance Should You Buy?
When choosing a policy, you can opt for standard liability coverage. This type of insurance will cover you in the case of an accident and pay for damages to your property and the property of others, as well as bodily injury costs. It will also compensate you for car repairs. If you have a leased car, you might have to purchase full coverage. You will have to ask your leasing company about it, though.
On top of that, you should think about buying comprehensive car insurance, which will help you take care of damage from car accidents and natural disasters, as well as theft, vandalism, fire, and a bunch of other things.
Lastly, you should consider buying a car insurance policy that includes uninsured motorist coverage. If the other driver involved in an accident that you were a part of does not have enough insurance to cover the costs of the accident, this type of insurance will kick in and help you out.
Where Should You Buy Car Insurance
You can buy a car insurance policy directly from an insurance provider. Many insurance companies have websites where you can compare auto insurance policies and costs and choose the one that suits your needs. Today, you can choose to purchase your policy online, in person, and over the phone – it is up to you.
In Conclusion
To recap, car insurance is a requirement in most states. You might see it as a pain in the neck, but you should definitely purchase car insurance if you can afford it. It will protect you from having to pay for huge expenses if you are involved in a car accident, help you take care of bodily injury costs, and provide you with peace of mind.
If you have questions about car insurance, feel free to contact your local car insurance company. It will help you find a policy that suits your needs, along with the answers to any questions you might have.
