Do you remember getting your driver’s license and learning all about insurance? For many of us, it was a hard lesson.
We have to pay this, every month?
Even if nothing happens?
Often, it feels like we’re just giving this money away, and if we do right and never have an accident, we’ll still have to continue paying, getting no returns.
The truth, however, is that car insurance is an expense that is definitely worth every penny. Here are just three reasons why.
1. It will actually save you money.
We get stuck on what we’re losing with each insurance bill that arrives, but the returns do happen, and they’re lifesavers. Millions and millions of car accidents occur in North America every year, and half of these will result in some kind of injury. A good portion of these injuries, including neck and back injuries, will be considered permanent.
But what is seen virtually across the board with all accidents is some kind of property damage. Averaged out, the cost of each accident in terms of property damage approaches ten thousand dollars.
Let’s consider this for a moment. Rates vary depending on your coverage and driving history, but the average is around $800-$900 per year, although higher in some regions. If you’ve been driving for ten years or more, you can get back everything you paid in with just one accident.
But even if you’ve been driving for three years, you’ll still have your damage covered. If you don’t have thousands of dollars on hand for “just in case”, you appreciate the value of insurance.
And if you damage someone else’s Lamborghini? You’ll instantly be aware that car insurance has just saved you piles and piles of money.
2. It protects you.
Sometimes things go wrong and you won’t have anyone to blame. Cars get stolen, Mother Nature unleashes her wrath, and suddenly, you don’t have any recourse – unless you’re insured. Depending on your belairdirect plan, you’ll know exactly how to solve this problem.
Unfortunately, not everyone wants to take responsibility for their wrongs. If you’re in an accident that wasn’t your fault, the awful truth is that the other party can try to transfer blame to you. Car insurance protects you from these unfair claims and may even cover legal expenses to fight these allegations.
In the end, it protects you from losing everything. Where would you be if you suddenly couldn’t drive? Would you be able to keep your job? How many loans would you have to take out to rectify the loss? Car insurance can prevent you from going into debt and help keep your life on track.
3. It’s the law.
Speaking of losing out, in many areas, you can lose your license if you don’t remain insured. More than suspending your license, some places can take your vehicle if you can’t prove insurance or ability to pay in the event of an accident.
Without car insurance, you have a lot to lose. The long arm of the law, an accident that totals your vehicle, and the threat of debt and legal action. All of this can be prevented with one simple (and much more affordable) payment – car insurance.