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Sunday, March 25, 2007
Do You Really Need Auto Insurance?
The answer to this question might seem obvious and well..it is! YES you absolutely need auto insurance and here are all the reasons why you do.
1. You need it for legal reasons
Almost every state does requires you to have insurance.In some states, you will be asked to have proof of insurance when you register or if you have an accident. And you might even have to carry it at all times in your car.
Again, depending on your state, the consequences of not having your car insured can be very large. Those include among other things:
-A fine as high as $1000-Licence and registration suspension-Up to 1 year in jail
2. Even basic coverage makes a very big difference
Depending on the company you choose to insure your car, the basic coverage plan might vary. It will however in most cases include these:
* Bodily Injury LiabilityThis is crucial. This covers injuries that you may cause to someone else in an accident. This involves very large amounts of money (medical bills), especially if the accident is followed by legal actions against you.(lawsuits)
* Property Damage LiabilityThis is the same, only applied to material damage, be it someone else's car or public property. This can get quite costly too
What usually isn't included in your basic, required by state, coverage is any coverage of your own vehicle's damage that might be caused by an accident.
The advantages to this type of coverage are obvious though; not everyone can afford to just replace a car after a serious accident.
So if you don’t have insurance, or dropped your insurance after getting the proof of insurance you needed, you should really really reconsider this. An accident can happen a lot faster than you think and you’ll be left in a difficult situation.
1. You need it for legal reasons
Almost every state does requires you to have insurance.In some states, you will be asked to have proof of insurance when you register or if you have an accident. And you might even have to carry it at all times in your car.
Again, depending on your state, the consequences of not having your car insured can be very large. Those include among other things:
-A fine as high as $1000-Licence and registration suspension-Up to 1 year in jail
2. Even basic coverage makes a very big difference
Depending on the company you choose to insure your car, the basic coverage plan might vary. It will however in most cases include these:
* Bodily Injury LiabilityThis is crucial. This covers injuries that you may cause to someone else in an accident. This involves very large amounts of money (medical bills), especially if the accident is followed by legal actions against you.(lawsuits)
* Property Damage LiabilityThis is the same, only applied to material damage, be it someone else's car or public property. This can get quite costly too
What usually isn't included in your basic, required by state, coverage is any coverage of your own vehicle's damage that might be caused by an accident.
The advantages to this type of coverage are obvious though; not everyone can afford to just replace a car after a serious accident.
So if you don’t have insurance, or dropped your insurance after getting the proof of insurance you needed, you should really really reconsider this. An accident can happen a lot faster than you think and you’ll be left in a difficult situation.
# posted by gopi @ 9:04 PM 
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