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Reasons Why Car Owners Should Consider Having an Insurance for Their Car

Having car insurance is a must by law. Lack of valid insurance is illegal in most States. In case of bodily injury or cause of death to a third-party or damages, compensation is provided by car insurance. Such types of insurance for your vehicle is known as third-party insurance, and it protects not only you but people or family members who are driving your car. You’re protected from man-made or natural calamities such as cyclone, earthquake, hurricane, riots, terror attack, and theft and also third-party damages or claims, comprehensive car insurance gives protection to all. A car insurance may sometimes be difficult and confusing to understand. When choosing a car insurance policy, there are certain guidelines that buyers should follow. A car insurance is a friend to rely on in times of trouble. It helps to cover losses made in an accident with a lot of money involved that would have been used to pay for the damages. The following are the benefits of having a car insurance policy.

Total losses are covered by a car insurance policy. It assists in covering you from total losses. An insurance cover protects you from the total loss of your car. Your car may not be recovered after getting stolen. When you lose your car and never to find it again, it may have been cannibalized for parts or driven to another country. Spare parts market is very high, and thieves may have stolen your car to strip it and sells its spare parts. After an accident, your car may possibly be written off. In such instances, 50% total cost repairs would be what is exceeded in the total sum assured. Writing off such cars is what most insurance companies prefer other than repairing them. Your car may be burnt in a fire accident, which leads to the total loss of the car. Your claims will be settled by an insurance company in such a case thus giving you a new car.

You’re protected from Car Parts been stolen. Your car may be targeted by car thieves for theft of car parts. Key components may be lost to thieves despite you having an intact car. Car spare parts are lucrative in most States. Your car will be stripped fully by thieves so that they get rid of things such as wheels, tail lamps, car stereos, and headlamps so as to sell them in the black market. When your car is fully stripped by thieves, an insurance policy can compensate for the losses after making claims.

Accident damages will not be compensated by you. When damages are done to your car during an accident, you saved from getting money out of your pocket. When your car is involved in an accident and damage occurs, the insurance company picks up the tabs and ensure necessary repairs are made to your car.

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