What is car insurance?
A basic definition of car insurance is that it is insurance purchased for cars and other road vehicles. This type of insurance provides financial protection against physical damage and/or bodily injury resulting from traffic collisions and against liability that could arise there from. Car insurance may also provide cover for theft and damage to the vehicle.
What are the advantages of getting car insurance?
You get insulation from huge expenses
By getting car insurance you have the peace of mind knowing that the insurance covers the bills of vehicle repairs due to damage caused in an accident.
Preservation for vehicle value
If you buy your car through the bank or another financial institution you will be required to get the most comprehensive form of car insurance. This is because the bank will want to protect its asset.
Option of Pay-As-You-Drive offered
If you don’t drive very often you can get a specific type of insurance cover to suit your needs. By getting this type of cover you can also make considerable savings.
You can ask for discounts
When trying to get car insurance it’s important to make sure that you compare as many quotes as possible. You are able to ask for discounts which many insurance companies offer. For example, if you have not claimed for a number of years, this may qualify you for a discount.
You can save more by bundling your home insurance and car insurance with the same company
Many insurance providers are giving their clients more value for money by giving them the option of multi-policies.
You get cover against potential lawsuits
If you get into an accident the last thing you want to face are massive legal expenses. Having car insurance can insulate you from such costs.
You may get extended coverage to others driving your car with your permission
You can add the name of another driver to your policy so that if any incidents occur when they are driving your car, they are sufficiently covered.