(ThyBlackMan.com) It is tempting to forgo automobile insurance when you’re trying to cut expenses. After all, insurance premiums can be high, especially for young drivers. Insurance actually benefits everyone involved in the event of an accident. Whether or not you are the at-fault party, injuries and property damage can be covered under insurance policies.
First and foremost, it is the law. Most states, other than New Hampshire and Virginia, require you to carry a certain amount of insurance on each car, though that amount varies from state to state. States also may mandate what type of insurance you need. You might carry only liability in some areas while other states may require more. If you are pulled over by the police or state patrol and do not have insurance, you may wind up paying more than you would have to carry insurance in the first place.
Besides not having to worry if you are pulled over by the police, there are
several advantages to having automobile insurance. If you are responsible for an automobile accident which involves another vehicle or someone else’s property, your insurance will be in place to help cover the expenses. It’s important to discuss with an agent exactly what will be covered in such situations and up to what dollar amount. Whether an injured party is in another vehicle or a passenger in yours, your insurance may pay for repairing their cars and cover their medical expenses.
Even “collateral damage” that happens during an accident like knocking down a fence or hitting city property may be taken care of, depending on your policy. In addition, if you are a victim in a crash caused by an uninsured driver, your medical expenses and vehicle repairs may be covered. If your car winds up in the shop for a significant amount of time, your insurance may also pay for a rental. It is nice to know the only out-of-pocket expenses you incur will be your deductible.
There are many types of insurance and different deductibles and premiums. To find out which one is right for you, speak to a local insurance agent.
Staff Writer; Fred Sloan
