The second largest purchase that most people will make in their lifetime is the purchase of a new vehicle. This falls directly behind purchasing and owning a house. The main difference is that statistics show that whilst people might change their house two or three times in a lifetime, the same owner will change vehicles at least ten times if not closer to twenty.
The law requires that every car on the road is insured, which leaves you no choice but to take out compulsory car insurance unless you want to get fined or imprisoned heavily for ignoring the insurance. Compulsory insurance only covers the other vehicles involved in the accident if you are the one held responsible for the accident.
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.
When accidents do occur, they are often deadly and tragic. The vehicles are usually demolished and totaled, and if fixable, they will cost a lot of money!
If you have no comprehensive insurance when such a calamity does strike, you are left out in the cold to fend for yourself.
However, if you have the common sense to take out comprehensive car insurance coverage, your vehicle is protected under several forms of damage and even theft.
Insurance premiums are calculated on an annual basis, and should run at around 6% of the replacement value of your car. A lot of people will gladly cover that amount to insure much stronger protection from the insurance company.
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.
Ignoring comprehensive insurance is something that you may pay the price for later in life. Are you willing to take that risk?
The law requires that every car on the road is insured, which leaves you no choice but to take out compulsory car insurance unless you want to get fined or imprisoned heavily for ignoring the insurance. Compulsory insurance only covers the other vehicles involved in the accident if you are the one held responsible for the accident.
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.
When accidents do occur, they are often deadly and tragic. The vehicles are usually demolished and totaled, and if fixable, they will cost a lot of money!
If you have no comprehensive insurance when such a calamity does strike, you are left out in the cold to fend for yourself.
However, if you have the common sense to take out comprehensive car insurance coverage, your vehicle is protected under several forms of damage and even theft.
Insurance premiums are calculated on an annual basis, and should run at around 6% of the replacement value of your car. A lot of people will gladly cover that amount to insure much stronger protection from the insurance company.
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.
Ignoring comprehensive insurance is something that you may pay the price for later in life. Are you willing to take that risk?
