Buying a car, especially your first, is the second largest purchase you will ever make following a house. It’s hard to think about it in that manner, because it suddenly raises the flow of your blood and you begin to think about how important your vehicle is to your assets. Is it well protected?
The law requires that every car on the road is insured. Basic insurance or compulsory insurance only covers any other cars for damage and repairs in an accident that is defined as your fault. If your car is also damaged, the costs will come out of your own pocket.
Most people who have owned a car at one time or another are well aware of the minor details surrounding car insurance, which doesn’t hold true for first time car owners.
Buying a car for the first time is a big step in a man or woman’s life. However it also comes with some risk and more expenses.
If you do not have comprehensive insurance when an accident occurs, you’re left with two options. Fix the damages if applicable, buy a new car, or go without one.
However, if you have the common sense to take out comprehensive coverage, your vehicle is protected under several forms of damage and even theft.
That is why car insurance providers heavily recommend comprehensive coverage.
If you are buying your first car, this is especially important. Chances are you are young and somewhat inexperienced as a driver. Comprehensive coverage will protect your vehicle from one minor mistake you might make or from theft, especially if your vehicle contains a lot of desirable goods for thieves.
If you are young you are going to pay a lot. Comprehensive car insurance also covers your vehicle in the unfortunate instance of a car theft.
As you can see, ignoring comprehensive car insurance is a grave mistake. Save yourself the hassle and spend a little extra every year on your insurance policy.
Graham McKenzie is the content Syndication Manager at Insurance123.co.za South Africans leading car insurance information portal
Tags: automobiles, car insurance, Cars, Finance, insurance, money
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