Why do I need car insurance?

Auto insurance is a lot like homework.  Every day we would do (or not do) the homework our teachers assigned.  We rarely asked why – we simply did it because “we had/were supposed to”.  Most people buy auto insurance because the state, dealership, lender, or lessor require that we buy insurance.  We rarely ask “why”.

This post lays out three reasons why you need to buy auto insurance.. and its more than “you have to”…

1. You have to…

I know we said there are other reasons to buy auto insurance aside from “you have to”, but there are truths in this world – and one of those truths is that you must buy car insurance.  Fines,  fees, suspensions, and long-term penalties await drivers who fail to buy car insurance.

Now that we have acknowledged the compulsory component – let’s move to the other reasons why you need car insurance.

2. It’s a huge investment and you probably rely upon it too…

For most households, their car is one of the largest purchases.  And while, unlike most investments which appreciate in value, cars lose their monetary value over time – our reliance upon them grows.  We drive to work.  Drive our kids to school and events.  We rely on our cars to go on vacation and to visit friends and family.

All of these investments deserve protection.

Auto insurance can provide protection for our mistakes while driving a car.  It can provide certainty that when something beyond your control impacts the vehicle you rely upon – it will be fixed or purchased from you.  Car insurance can also provide for a rental replacement while the car is repaired – and a tow/jump to allow your journey to continue.

In short, car insurance can provide you with confidence and comfort in your investment and the lifestyle it affords.

3. It protects you!

All auto insurance policies should come with an uninsured motorist and an under=insured motorist coverage.  When a driver without any or enough insurance strikes your car, this part of the policy provides you and your household members protection.

For example, you are driving along the road when a car driven without insurance slams into your rear bumper.  As a result, you and your spouse suffer injuries – and are taken to the hospital via ambulance.   You and your spouse can potentially make claims against your own insurance – as if the at-fault driver had the very same policy you purchased for yourself.

The policy you purchased now protects you against other, less-responsible drivers and the injuries they cause.  Now, imagine if the injuries required long-term treatment or significant treatment.

The value from this portion of your insurance policy can be immense.

Conclusion

Your car insurance “why” is greater than “I told you so”.  Auto insurance preserves your investment and reliance upon your car.  It also provides protection against less-responsible drivers on the road.

Having an in-depth conversation with a knowledgeable insurance agent can prepare you and your loved ones for unexpected perils that lurk on the road.  Let’s connect to find ways to provide you with cost=effective protection.

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