Five Reasons Why You Need a Good Automobile Insurance Cover

As with any other insurance cover, automobile insurance is a legally binding agreement intended to protect an individual or company from any liability or financial losses during any vehicle operations.

It may be tempting to forego car insurance needs mainly because of the costly premiums and the ill-conceived notion of the unlikeliness of an accident. This decision, however, could prove costly in the long run and could also land you on the wrong side of the law.

This article will show you the importance of having not just any car insurance cover, but a good insurance cover on all your vehicles.

• To Follow the Law

As dictated by law, it is mandatory to have and carry an active car insurance policy when driving any registered vehicle on any public road. In simple terms, you cannot drive a car anywhere without proper car insurance.

If you think the insurance premiums are costly, then the fines for driving without valid car insurance will strike you dumb. For most states, you’re looking at a fine of $100 to $1500 for driving an uninsured car.

You also risk a two-week jail sentence, impounding of your vehicle, points on your license, and suspension of your license, registration, or plates. If the state revokes your license, you’ll have to pay an extra $750 to have it reinstated.

Those premiums look pretty cheap now, don’t they?

• Saves You a Bundle in the Long Run

A good car insurance cover, with collision and liability coverage plus accident benefits, will prevent a huge dent in your bank account in the eventuality of an accident. Instead of spending your hard-earned cash for any repairs, liabilities, and legal fees, the insurance agency will step in and cover the many expenses that could easily reach thousands of dollars.

As a rule of thumb, always consult your insurance agency before settling on a specific plan to understand what the insurance needs entail. Doing so will help you avoid falling into the myth traps and ill advice.

• Covers More than Just Accidents

Many opponents of car insurance always flaunt the “I’m a safe driver” claim when prompted on why they wouldn’t advocate for car insurance. Car insurance, however, covers more than just car accidents and collision. In fact, three of the most common insurance claims include whiplash, fender bender, and theft.

In cases where the car is stolen, car insurance agencies will cover up to the actual cash value (ACV) of your vehicle depending on your insurance plan. You’ll also get coverage for other occurrences such as vandalism and fire incidents, to name a few.

Again, you’ll save a ton of cash in case any of these things happen depending on the insurance company and your insurance plan.

• Protection for You and Your Family

Unforeseen circumstances could translate to financial turmoil for both you and your family. Family-owned vehicles top the list of vehicle categories that should have car insurance since the family could suffer greatly from the outcomes of an accident.

If the family breadwinners ends up injured or succumbs to the accident, the car insurance’s accident coverage policy will cater to your family’s financial needs and help the family get back on their feet. You will also get protection from lawsuits under some specific insurance covers.

• Customized Plans to Suit Your Needs

You don’t have to cram every benefit into your insurance plan and pay a huge premium for perks you don’t need. Classic car insurance covers are flexible and adjustable, so you get the right plan to suit your specific needs. You don’t have to worry about splurging on unnecessary benefits.

Final Word

Apart from ordinary cars, automobile insurance needs exist for unique vehicles, collector vehicles, and classic cars that fetch a hefty price on the market.

Now you must be sold on the idea of having the right car insurance for its overwhelming benefits. If you’re looking for the best agency in Portland for your insurance needs, you have the right knowledge to pick a good deal.

Leave a Reply