Advantages of Getting Car Insurance

The advantages of getting car insurance far outweigh any perceived advantages of not getting car insurance. Sure, insurance can be expensive, and sometimes you might rather put those payments toward something more exciting, but if you drive without car insurance, you put yourself, your property and your finances at great risk. Getting auto insurance is among the most important responsibilities of owning and operating a car.

It’s the Law

All states require some form of minimum car insurance coverage and require you to show proof of insurance to register your car. Each state has minimum requirements for Bodily Injury Liability and Property Damage Liability limits. You can find out the minimum requirements for your state at http://personalinsure.about.com/cs/vehicleratings/a/blautominimum.htm.

Protect Yourself and Others

Depending on the coverage you get for bodily injury liability, insurance can help pay for part or all of the medical bills of those injured in an accident. Property damage liability coverage can help pay for damage incurred to your car or to another person’s car or property. As medical expenses and repair costs continue to rise, these are critical components of insurance coverage. Greater coverage may mean higher insurance costs, but they further extend protection for yourself and others.

Protect Your Vehicle

In the event of a major accident, insurance can help pay for the cost to replace your car. In situations where the car can be repaired, insurance can help pay to restore the car to its previous condition. 

Protect Your Finances

Whether you lease or finance your car, the bank or leasing company will require you to purchase greater insurance coverage than your state’s minimums. This helps safeguard your investment. Without insurance, you’d be without a car and still owe money to the bank if you were to lose your car in an accident or if it were stolen. Also, regardless of whether you lease, finance or own your car outright, insurance can help shield you from potentially disastrous claims against you.  

Insurance Represents You

Your insurance company will act on your behalf if you become involved in an accident, regardless of whose fault it is. They will speak with all of the other parties involved in the accident including, but not limited to the other drivers, injured passengers, the repair facilities, the other insurance companies and medical providers as needed. You only need to speak with your insurance company. They will do the majority of the work of investigating, negotiating and finalizing settlements for damages.

Do Your Research

It’s illegal and extremely risky to drive without car insurance. Getting car insurance is as important and as obvious as getting gas, but you must do your research. There are countless auto insurance information resources on the Internet. You’ll find that the minimum levels of coverage are different for each state, and that there are infinite ways to set up an auto insurance policy. Prices, coverage and benefits vary tremendously across the industry. Getting auto insurance requires patience and careful consideration of what’s important to you. Take your time, ask questions, do the math and always remember—don’t go without it.