3 Reasons Why Car Insurance Is Essential
If you are planning on buying your first vehicle but are confused about auto insurance, you're far from the only one. The amount of information — not to mention the number of available options — can be overwhelming. Because of this, you may be tempted to put off purchasing an auto insurance policy or may try to convince yourself that you won't need it in the first place. To do so, however, would be to make one of the biggest mistakes new drivers make. Take a look below to discover just a few of the reasons why car insurance is absolutely essential.
Following Legal Requirements
Perhaps the biggest reason why you shouldn't ignore the importance of car insurance is that in almost every state, some form of car insurance is required by law. Of course, different states enforce these requirements in different ways and to different extents. Florida drivers, for example, must carry a policy that covers $10,000 of property damage liability per accident and $10,000 personal injury protection, while Minnesota drivers' policies must contain protection for bodily injury liability and uninsured/underinsured motorists as well. It is best to research your state's mandatory minimums before choosing a car insurance policy.
Saving Money
Even if you live in New Hampshire or Virginia — the two states in which car insurance is not mandatory — purchasing a policy is still a smart idea. Collision coverage, for example, saves you from having to pay for repairs, regardless of who is at fault. More comprehensive coverage will also protect you against things beyond your control, such as severe weather that damages your vehicle. While it may seem counterintuitive to suggest that paying for car insurance can actually save you money, this is true for the vast majority of drivers in the long run. Without insurance, even one major accident can empty your bank account.
Keeping Others in Mind
If you ever have passengers who ride alongside you in the car — even if it is only on rare occasions — then you will want to have an auto insurance policy that takes care of them in case of an accident. While you may be able to pay your own hospital visits and associated bills, a passenger may not be able to do the same. Instead of leaving them to worry about the cost of medical treatment, make sure to purchase car insurance that includes coverage for all passengers.
If you have additional questions on car insurance, contact a company near you.
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