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Reasons Why Car Owners Should Consider Having an Insurance for Their Car

Having car insurance is a must by law. One may find themselves against the law when their car insurance is invalid. Damages to a third-party car that may lead to bodily injury or causes death, a car insurance policy provides compensation. You’re not only protected but also your family members when they may be driving your car, and an accident happens, a vehicle insurance is able to protect the third party. A comprehensive car insurance gives protection to your car from natural calamities such as earthquake, theft, terror attack, riots, hurricane, and cyclone or any man-made in addition to that party damages or claims. It may be difficult and confusing to understand car insurance. A car insurance buyer needs to be certain of some guidelines that need to be followed before choosing a policy. In times of crisis, a car insurance act as a good friend. When an accident happens, car insurance covers all the huge sums of money that would have come from your pocket. Find out ways in which car insurance is advantageous.

Total losses are covered by a car insurance policy. It assists in covering you from total losses. You’re protected from losing your car totally when you have insured your car. Your car may not be recovered after getting stolen. This happens when it’s driven to another country or cannibalized for parts. Spare parts market is very high, and thieves may have stolen your car to strip it and sells its spare parts. It’s possible for your car to be written off after an accident has occurred. In such instances, 50% total cost repairs would be what is exceeded in the total sum assured. Writing off such cars is what most insurance companies prefer other than repairing them. Your car may be involved in a fire accident where it’s completely burnt, and the car is a total loss. Your claims will be settled by an insurance company in such a case thus giving you a new car.

Theft of car part is covered by an insurance policy. Car parts may be the target of car thieves. Key components may be lost to thieves despite you having an intact car. Spare parts market is very lucrative in most countries. In such cases, thieves will strip your car and remove certain parts such as a tail lamp, headlamp, car stereos, and wheels and resell them in the black market. An insurance company will compensate you for the loss when you make a claim based on such risks.

Accident damages will not be compensated by you. You’re saved from financial losses when an accident occurs. When your car is involved in an accident and damage occurs, the insurance company picks up the tabs and ensure necessary repairs are made to your car.

– My Most Valuable Advice

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