Fact: Full financial car accident defense would cost you a really large amount of money. This means you would be safe from any financial dilemma when you are on the road and an accident occurs.
Problem: Not everybody is a high paid celebrity who could afford all expensive things.
Solution: You should be a responsible and safe driver. Read and understand all the terms and conditions each insurance policy provides and on which you would benefit most from. You should also know which insurance company offers what type of insurance policy. Finally, you must make a plan how to reduce the rates of these insurance policies.
Insurance policies are mandated to about 47 out of 50 states. These states also set what the minimum insurance policy they require each licensed driver. So getting an insurance policy is important since it already is under a law and without it your license would be revoked, your car would be impounded and you would be detained in jail. However, if you got insured just for the sake of complying with your state’s demands you are not doing yourself any good. The state’s minimum insurance policy could only cover for a small amount of damage or injury so when you get involved in a serious accident with only a minimum insurance policy in your pocket you might just say good bye to your savings and sometimes even your assets.
However, if you belong to the small percent of the country’s very elite group or you just happen to be a rock star and you own a fancy Porsche or a steaming hot sports car it would be practical for you to purchase a Fully Comprehensive Car Insurance. This insurance policy covers for all from the damage you make to your neighbor’s fence to the hospital bills of you and the other party involved and the repairs to your car and the other party’s property.
On another hand, if you are a very careful and safe driver then the best insurance policy for you is the Third Party Car Insurance. This insurance policy is the cheapest among all the other types of insurance policies. This insurance policy, however, covers for the very basic which is only composed of three elements. One, when the policy holder gets involved in accident where no other party is involved like when he accidentally hits a wall or when his car is flushed away by flood. Two, when the policy holder gets in an accident that is his fault. Finally, when the policy holder gets involved in an accident where another party is proven to be at fault.
Looking, reading and understanding car insurance policies of various insurance policies may eat up a lot of your time and effort. But it would surely pay off once you have found the right auto insurance policy that best suits you and your car. Accidents happen at the very least we expect it to, so choosing what insurance policy best fits us is nothing compared to what would happen if we do not choose carefully.