You’ve probably been told by family, friends, and police officers that you need to have auto insurance. But why is it important? Why do you need auto insurance? In this article, we’ll give you three major reasons why it’s critical to get coverage for your vehicle. Then we’ll tell you how much coverage to get.
Financial loss if you’re in an accident
If you’re in an accident and your car is damaged, it can be a financial loss. If the damage is extensive, you may need to have the car towed and repaired at an auto shop. You also won’t be able to drive your vehicle until it’s repaired—and if your insurance deductible is high enough, that could take awhile! Not only that but if you’re uninsured or underinsured (which means the limits of coverage on your policy are less than what would cover the damages), then even more money could get lost by having to cover those costs out-of-pocket until they’re paid off.
Liability insurance is one of the most important types of insurance you can have. Liability covers the cost to others if you cause an accident, whether it’s a fender bender or more serious crash.
The basic idea behind liability coverage is that it pays for damage and injuries caused by your vehicle in the event of an accident. Liability coverage includes medical payments up to $1 million dollars, bodily injury claims up to $10,000 per person and $20,000 per crash (the combined value of these two amounts is known as “100/300”), property damage claims up to $5,000 per incident (this also applies to theft), and uninsured motorist bodily injury protection.
Note that this does not cover any damage done by your car—only damage done from accidents involving other cars or people on foot or bicycle! You’ll need collision coverage for that purpose; this kind of coverage usually comes with comprehensive too which will cover things like hail storms or vandalism if they happen within 90 days after purchase date but only when those events occur during regular operation time for your car — don’t expect them after hours though!
Medical coverage is an optional type of insurance that pays for medical expenses. Medical coverage can be purchased as a standalone policy or as part of a comprehensive auto insurance policy. If you choose to purchase medical coverage, it will pay for your hospital stays, medical bills and other expenses that arise when you are in an accident.
You need auto insurance.
You need auto insurance.
Auto insurance helps protect you and your finances in case of an accident. It can cover the cost of medical bills, lost wages, and other expenses if you’re injured in a crash. It also covers damage to your car if it’s damaged by another driver. The more money that you pay for your insurance premium, the more likely it is that the insurer will be able to pay for these costs when they arise.
We hope this article has helped you understand why it’s important to have car insurance. If you don’t have any, consider getting it now!