There are a number of online auto insurance companies and the sheer numbers can be quite overwhelming at times. The confusion is between purchasing liability coverage and a full coverage. But then there are the medical and legal expenses as well. Most often the buyers simply get sucked into the convenience of buying instant online auto insurance and tend to overlook all other important factors and end up choosing the cheapest auto insurance available. The budget insurance is a good option provided it is taken under the right circumstances. However, there are other reasons to consider a full coverage auto insurance. They are:
– Firstly, ask yourself if you can afford to pay the expenses out of your pocket in case your insurance cover is inadequate. This is an important factor to consider as there are many instances where people have had to forego their vehicles or moved close to bankruptcy after being involved in a nasty motor vehicle accident. If you don’t make any alternate arrangements to save up the cash value of your vehicle, you could land in serious trouble and be left with no cash to buy a replacement vehicle and without a car if you are involved in an accident where you are at fault. If the thought itself is scary, then it is time you considered full coverage insurance.
– Secondly, ask yourself if you can handle the medical costs as well as legal expenses. The liability coverage carries $40,000 for the other driver’s legal expenses and medical costs. If you consider the legal fees of $300 per hour and the hospital bills of around $3,000 to $5,000 which would depend on the care you want, the costs are quite high. The liability cover will not be able to cover even the costs of the other persons care. If you are at fault here, then you could be sued.
– Thirdly, if the opposite driver has no insurance but is at fault, then can you bear the medical, legal and other costs? Lawsuits are time consuming and expensive and protecting oneself with full coverage is the best option to avoid these situations.
– There can be no price tag on the peace of mind that one needs. Even if your car is not worth more than $1,000 and you are still undecided if full coverage is necessary, it still does make sense to opt for full coverage as you can have the peace of mind that all the costs would be covered.
