Your first car and the insurance that will follow
Buying a car, especially your first, is the second largest purchase you will ever make following a house. It's hard to think about it in that manner, because it suddenly raises the flow of your blood and you begin to think about how important your vehicle is to your assets. Is it well protected?
The law requires that every car on the road is insured. Basic insurance or compulsory insurance only covers any other cars for damage and repairs in an accident that is defined as your fault. If your car is also damaged, the costs will come out of your own pocket.
The law requires that every car on the road is insured, which leaves you no choice but to take out compulsory insurance unless you want to get fined or imprisoned heavily for ignoring the insurance. Compulsory insurance only covers the other vehicles involved in the accident if you are the one held responsible for the accident.
When accidents do occur, they are often deadly and tragic. The vehicles are usually demolished and totaled, and if fixable, they will cost a lot of money!
Of course you do not. But people will refer to you as stupid if you go out, are involved in an accident, and now have no means to cover the damages. Now you are walking or biking to work.
If you have no comprehensive insurance when such a calamity does strike, you are left out in the cold to fend for yourself.
That is why car insurance providers heavily recommend comprehensive coverage.
For someone like you who is buying their first car and contemplating the fact that their comprehensive car insurance policy seems like a lot of money, then it's important to realize that you have no choice. Insurance providers look at the value of the car as well as the age and experience to calculate insurance premiums.
If you are young you are going to pay a lot. Comprehensive car insurance also covers your vehicle in the unfortunate instance of a car theft.
Not taking out comprehensive insurance is a disaster waiting to happen. If you really have any wits, you will understand the small annual insurance premium is well worth the expense.
The law requires that every car on the road is insured. Basic insurance or compulsory insurance only covers any other cars for damage and repairs in an accident that is defined as your fault. If your car is also damaged, the costs will come out of your own pocket.
The law requires that every car on the road is insured, which leaves you no choice but to take out compulsory insurance unless you want to get fined or imprisoned heavily for ignoring the insurance. Compulsory insurance only covers the other vehicles involved in the accident if you are the one held responsible for the accident.
When accidents do occur, they are often deadly and tragic. The vehicles are usually demolished and totaled, and if fixable, they will cost a lot of money!
Of course you do not. But people will refer to you as stupid if you go out, are involved in an accident, and now have no means to cover the damages. Now you are walking or biking to work.
If you have no comprehensive insurance when such a calamity does strike, you are left out in the cold to fend for yourself.
That is why car insurance providers heavily recommend comprehensive coverage.
For someone like you who is buying their first car and contemplating the fact that their comprehensive car insurance policy seems like a lot of money, then it's important to realize that you have no choice. Insurance providers look at the value of the car as well as the age and experience to calculate insurance premiums.
If you are young you are going to pay a lot. Comprehensive car insurance also covers your vehicle in the unfortunate instance of a car theft.
Not taking out comprehensive insurance is a disaster waiting to happen. If you really have any wits, you will understand the small annual insurance premium is well worth the expense.
About the Author:
Graham McKenzie is the content Syndication Manager at Insurance123.co.za South Africans leading car insurance information portal
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