You can be the best driver, but never be totally safe in your car. Let?s face facts, sooner or later someone is going to hit your car, that?s why car insurance is mandatory when you?re driving your car.
Car insurance is a type of coverage, which helps pay for damages involved in car incidents. There are many types of insurances, but you only get protection for the type of insurance you pay for, and often how much you pay into it. If you have the wrong insurance at the wrong time, it means paying out of pocket. Premium coverage costs differ from company to company and factors involving your driving history, many companies have different premiums.
The insurance companies work out the cost based on many aspects. The gender and age of the person driving the car also plays a major role in determining the premium cost. A female would be required to pay a lesser amount than her male counterparts, because males are generally considered to be rash drivers, and are more likely to get involved in accidents. Similarly teens too attract a high premium rate as they too fall in the high-risk category.
Car insurance has a thing called deductibles. A deductible is deposit of money, often a lump sum you?re responsible for, before insurance kicks in; a pre insurance, insurance policy admittedly. This is a common custom for any company, and the deductible also influences the amount of coverage you have available. Other coverage?s that occur include collision repair, and in the event a car is beyond repair, cash value coverage.
If a car accident does occur, there may be times where both parties are injured (physically and automotively as it will). There is always some kind of financial liability, but the right coverage will often soften these kinds of blows. Insurance is important because of the financial strain it causes. For the uninsured, they have to bear the economic stress involved in these kinds of damages, and they provide no answer to the other parties damages which is why it is so important in fact, that licensing offices will suspend licenses if a person is uninsured (in some states).
World wide, insurance coverage has become so important that countries abroad fine or even jail those uninsured. It?s viewed as the safest cushioning blow to an economically hazardous situation.
But tt all boils down to something however, who else is going to pay the bill in the event the other one doesn?t? So do the right thing, shop for the right coverage, and know that when you drive you?ll be helping everyone, including yourself.
Graham McKenzie is the content syndication coordinator for Carinsurancesa.co.za, a leading South African Car Insurance portal.
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