The roads nowadays are occupied by more vehicles as compared to decades ago. It also goes with the numbers of drivers that have actually more than tripled. Car insurance companies also increased in numbers as car and car owners’ number grew.
What is the importance of having auto insurance?
In the United States of America, it is mandated that a driver should carry at least the minimum coverage specified by the state’s law. But with the economy going down and recession hits the market, every person is trying their best to at least save or even free them from responsibilities.
Consider car insurance for example. If it is not mandated by law, most people would opt out to having one for sure. If you come to think about it, it is not only mandated by law but also it is your protection, in any case that you will be involved in a road accident.
Let us try to analyze one good example. There are two people who were in an accident separately. The first man carries car insurance while the other one does not. Say, both drivers mentioned above are at fault and there are other people in the other car that got hurt.
The first driver who is a car insurance policy holder would have somebody to back him up during the accident. Of course, since the car insurance will take care of the medical expenses of the third parties’ he would not be worrying that the accident would affect him financially. The auto insurance will do that for him. Damages to the other car would also be taken care of the insurance company.
The hassle of arranging things to settle the incident would be a no-worry. The car insurance company will be assisting him no matter how hard things go. That is the benefit if you are covered even by a cheap insurance quote.
The other driver who doesn’t have car insurance is in deep trouble. Since it was mentioned earlier that he is at fault, he will also be responsible in the repair, if repairable, of the third party’s car. How much would it cost for the repair alone? Medical attention would also be needed by the injured party. What if you don’t have enough money to shoulder those expenses, what would happen?
You might end up paying for bills months after the accident or even years. That is the bad effect of not having car insurance while driving.
So consider this: if you don’t want to have insurance in order to save money, better think twice. Try to think of the possibilities that you can get while driving your car in the busy streets. You might end up paying more than what you should be paying if you have a premium to help you in case you will need it.
Having a cheap insurance would save you from having a major financial problem if in any case you will be in a road accident. Consider it to be your protection from the unforeseen possibilities of events in the streets.