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5 Reasons Why Car Insurance Is So Important To Every Car Owner

5 Reasons Why Car Insurance Is So Important To Every Car Owner
Having a car can give you a new-found sense of freedom and independence.
You are able to go wherever you want, whenever you want and bring your friends along too. But having a car also comes with its own responsibilities such as repaying your car finance, ensuring you have a vehicle warranty and applying for scratch and dent cover. 

You will need to have car insurance in place for your new car to ensure it is covered for everything. Having to pay for any mechanical breakdowns can become expensive, which is why you will need to apply for comprehensive car insurance that covers all issues that could occur. Not only will insurance save you money, but it will also give you peace of mind that your car is protected. Still not convinced? Below are just some of the reasons why car insurance is so important. 

- It is important for financial protection

Paying for the damages to a car that has been in an accident can become costly, especially if you are not insured. And if you are the one who is at fault in an accident, you will likely have to pay for damages to the other party’s car, which can be even more expensive depending on what has happened. 

Car insurance for third-party, fire and theft means that you will be covered for any eventuality. This will help to protect your finances and ensure that you do not have to pay out of your own pocket. Depending on the circumstances of the accident, you might receive the maximum compensation amount for a car that is written off in an accident, but you will need to read the terms and conditions carefully to find out about claiming for an accident or incident. 

- Help for physical damage repairs

A car is a major investment, which means that paying for physical damage is a necessity. This can become costly if you have to pay from your own pocket, making car insurance the best solution. You will be able to find coverage for damage to the exterior panels of your car, as well as the windows of the vehicle excluding the window glass. 

Comprehensive insurance and collision insurance offer coverage that is all-encompassing, but both are different. Comprehensive insurance covers issues such as fire, theft, storm damage, and anything that causes you to need roadside assistance. Collision insurance covers accidents with other cars and objects. It is important to note that car insurance often will not cover mechanical damage unless it is caused by a collision or a storm, as stated in the terms and conditions. 

- It will pay for a stolen car

If you have the unfortunate experience of your car being stolen, you will need some way of recouping your independence and mobility. Many car insurance providers offer theft cover, which means that you will be given money to the current value of your car which will allow you to purchase a new one as soon as you are able to. You can increase the amount you have available by adding in your own money or taking out a car loan.

Having peace of mind during a stressful time such as dealing with car theft is one of the many benefits of taking out car insurance. You will not have to wait for too long to have a new car to get from home to work or school, and some insurers also offer the option of car hire in the interim of looking for a new car. Be sure to ask if these add-ons will increase your monthly premiums, as they might not be included in the main insurance package. 

- You will have roadside assistance

Roadside assistance is important if there has been an accident, you have a flat tyre or have run out of petrol. A professional team will be sent to your location and you will soon be ready and raring to go after their help. It is included with almost all insurers, and is a necessity on South African roads, as they can be unsafe at certain times of the year. 

The regular driver of your car and a set amount of family members are also covered by roadside assistance, but you will need to speak to your insurer about their different offerings. Be sure that you have listed the correct regular driver so that when you claim or call roadside assistance, there are no discrepancies or issues. You should ensure that your partner and children are covered by roadside assistance, in case they are in the car without you when disaster strikes. 

Conclusion

Having car insurance might cost you extra each month, but it is a necessity and an important part of owning a car. Not only will you be covered for physical damage, you will also have financial protection. Insurance also offers help in paying for a stolen car, allowing you to recover during a highly stressful time. With roadside assistance as an added extra, there is no reason why you shouldn’t have car insurance for a new or used car. 
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