Car is one of a few assets that is important to all of us who own it. In fact, a car is so expensive that you need extra protection to protect it. Buying car insurance is one example of what kind of protection that you need. But, before you buy it, you have to know car insurance facts so you can be aware of what is best.
The Facts About Car Insurance
Did you know that there are many assumptions about insurance that are wrong or misleading? That kind of assumption makes car insurance seem not that important.
In fact, car insurance is very important to protect you from various unexpected things. So, here is the truth about car insurance that you need to know!
It Would Not Only Cover an Accident
First of all, you might believe that car insurance would only cover an accident that occurs to you. But, in fact, you can also use car insurance to cover the damage that occurs to your car due to other things.
For example, the insurance will cover theft, riot, natural disasters, attacks of terrorists, etc. So, car insurance will obviously be very useful for you, which is different from auto insurance myths that most people believe.
Buying Car Insurance is Mandatory in Some Region
Basically, in some regions, you are required to buy car insurance when buying a car. There is a law that regulates all of this in some countries. Regardless of whether you are buying a new car or an old car, you still need to buy car insurance.
There are Many Additional Car Insurance Options
The next fact about car insurance is that there are many additional options that you can choose. Beside the one that is required by law, you can also buy any other car insurance that covers different things. One of a few examples is insurance for a bodily injury when you are involved in an accident.
The Car Insurance Will Not Cover Driving Under Intoxication
Driving under the influence of intoxicants is the second most common cause of accidents based on auto insurance statistics. But, you will not be able to make an insurance claim at some insurance companies for this reason. This is because they will not cover the damage because of driving under intoxication.
Liability and Property Damage is The Most Important
If you want to know which car insurance is the most important, the answers are liability and property damage. Because, without this, you will get penalties and have to pay a lot of additional bills when you are involved in an accident. Also, there is a possibility of revocation of your driving license.
The Average Payout was Variant
Then, how about the average car insurance claim payout? In fact, the average payout varies, from $15,200 with unconfirmed injury to $648,300 with catastrophic injury.
There are car insurance facts that you need to know before you decide to buy it. The use of car insurance is very important to protect you and your car. So, it is wise for you to use car insurance from now on.