MONDAY, JANUARY 2, 2023
If you don’t have the appropriate car insurance, then you might be opening yourself up to a lot of costly liabilities if you ever experience a wreck or other driving hazard. Your policy isn’t meant to protect just the car itself. It is designed to protect you as the vehicle’s owner or driver.
Many drivers mistakenly think that because they have an older car, they can drop their car insurance. This is categorically wrong. Car insurance is an essential benefit that no driver can afford to be without. It’s not just something you need on a brand-new car. It covers drivers no matter how old or how experienced they are, and it also insures cars of any age. Here’s why you always need it:
Driving Uninsured is Against the Law
In 49 out of 50 states, drivers are required to carry minimum levels of auto insurance. The requirements will vary by state. However, if you fail to carry the required coverage, then you are clearly violating the law. If you get caught, then you might face a license suspension, tickets and other penalties.
Plus, if you have driven uninsured once, then you might have to pay more for any policy you buy in the future. A prospective insurer will know that you have broken the law. They might then have to charge your more because you are a higher cost risk to them.
Even Older Cars Have Value Worth Insuring
Even if you have an older car, you might need the benefits provided by your physical damage insurance following a hazard that damages your vehicle. Though your car will begin to depreciate from the time you buy it, it will still have value for many years. With the coverage provided, you will be able to pay for your vehicle damage or put money towards the cost of a new car.
Coverage Pays for More than Just Vehicle Damage
Car insurance is a benefit that is designed to do more than just protect a car from damage. Other essential benefits available in most plans include:
- Liability coverage that pays for the property damage or injuries that you cause to others if an accident is your fault.
- Medical payments insurance covers the costs of injuries that you or your passengers sustain in accidents.
- A further benefit, called personal injury protection (PIP) can cover both medical bills and other expenses, like lost income.
- Perks like roadside assistance coverage and rental car reimbursement can help you afford the costs of breakdowns or a temporary vehicle while your regular one is in the shop.
Car insurance is a much more comprehensive benefit than just protection for your car. Even as your car ages, you will continue to receive benefits from your policy that could come in handy at any time. Never let yourself be without it.
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It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional
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