Young drivers who don’t have a lot of experience might be wondering if being insured while behind the wheel is absolutely necessary. Frugal people might think they could save a lot of money each year by not purchasing car insurance, and simply trying to be careful whenever they drive their car.
The truth is that car insurance is indeed necessary, and that it could even help you save some money. Of course, choosing the cheapest car insurance you can find might also help you save some money, but if ever you get involved in an accident or if your car gets damaged, having the right amount of coverage will truly save the day.
Here are seven reasons why you need car insurance:
1. Having car insurance is required by law
Following the law is one of the most important reasons why you need car insurance. Simply, the law requires you to have auto insurance. In Canada, it’s illegal to drive a car if you don’t have car insurance. Of course, you could get away with it for some time if you are lucky, but if you get caught driving without car insurance, you could get in trouble.
Depending on the situation, you might get a ticket, pay a heavy fine, see your driving license get suspended, or even end up going to jail. The type and the amount of auto insurance coverage you have to get depends on where you live, so make sure you are well-informed.
2. Your car is an important purchase that needs to be protected
Even if your car is not a brand new one, it’s still an important purchase that needs to be protected.
You most likely bought a car because you needed it to go to work, to go shop for groceries, or to get to different appointments. But what would you do if your car got damaged in a accident, or if it got stolen?
Unless you can afford to get your car fixed immediately, or to buy a new one right away, you will be glad you had car insurance to protect your vehicle.
3. Your car could get damaged even if you are a careful driver
Even if you are the most careful driver in the world, you could get involved in an accident. In fact, whenever you are driving, there is a risk that you could get involved in an accident. Even if you are careful, you can never be sure of the behaviours or the skills of other people you will be sharing the road with.
Plus, there is always a risk that your car could get stolen, vandalized, destroyed in a fire, or caught in a landslide.
4. You will want your car repaired quickly if it gets damaged
If your car gets damaged and needs to be repaired, you might have to walk or use public transportation for a long time if you don’t have enough money to get it fixed. And if your car is so damaged that it simply can’t get back on the road, you will need to buy a new one.
Fortunately, if you have the right car insurance, you will be able to solve this type of problem quickly. Collision coverage will help you repair or replace your car after an accident you have caused, while comprehensive coverage will help you financially if your car gets damaged or destroyed in a situation that is out of your control.
5. You don’t want to have to pay a fortune if you cause an accident
If ever you do cause a car accident, you will be glad to have liability insurance. This type of coverage will help you pay for the medical bills and car repairs of the other driver that got involved in the accident, since you will be responsible for their injuries and for the damages to their vehicle.
Liability insurance will also help cover your legal fees if the other driver decides to sue you, so it could really save you a little fortune.
6. You don’t know what could happen if you get injured in an accident
Car insurance can help you get your car repaired or pay to repair the damage you have caused to other people and their property, but it can also protect you and your family.
If ever you get injured in a car accident, and are unable to go back to work as a result, your car insurance claim will help cover your medical bills if you have the right type of coverage.
Make sure you speak with your insurer or with your insurance broker so you can get the right coverage for your situation.
7. Being insured helps preserve your peace of mind
Finally, even if you don’t like the thought of having to regularly pay your car insurance premiums, think of it as a small investment that will help you preserve your peace of mind.
When you have car insurance, you can get on the road and know that if ever something bad happens, you won’t have to use all of your life savings to get your damaged car repaired, or to pay for the medical bills of another driver you might have injured if you get involved in a collision.