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Your First Car And The Insurance
The vehicle you have or will purchase is one of your largest purchases you will ever make, next to buying a house. You never really thought of it as that big of an investment did you? Statistics prove that an average homeowner will switch homes two to three times throughout a lifetime, while an average car owner will switch at least ten times, making your car and its insurance extraordinarily important.
The law requires that every car on the road fall under basic or compulsory insurance. The law requires this insurance in the event of an accident where you are at fault with other vehicles. Your insurance will cover the damages done to other vehicles in the accident. The insurance will not cover your vehicle because you were responsible.
Most people are aware of this and cannot afford to pay for the high car repair costs or for a new vehicle if the old one is damaged.
When accidents do occur, they are often deadly and tragic. The vehicles are usually demolished and totaled, and if fixable, they will cost a lot of money!
If you do not have comprehensive insurance when an accident occurs, you're left with two options. Fix the damages if applicable, buy a new car, or go without one.
However if you are covered by comprehensive car insurance, the damages are covered by the insurance agency.
Insurance premiums are not extortionate; instead they are calculated on an annual basis and should run at about 6% of the replacement value of your car.
Insurance premiums are calculated on an annual basis, and should run at around 6% of the replacement value of your car. A lot of people will gladly cover that amount to insure much stronger protection from the insurance company.
Comprehensive car insurance will cover anything from accidents where you are at fault, to accidents where no one but yourself was involved, or cases of theft. It's very important to cover yourself from damages incurred via theft.
Car theft happens all the time, as many robbers find radios, disc players, GPS systems, and other items in the car very desirable. Protect your goods with extensive coverage.
Author Resource:-
Graham McKenzie is the content Syndication Manager at Insurance123.co.za South Africans leading car insurance information portal
Submitted
2010-01-08 02:16:32
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Graham McKenzie Article Read 64 Times
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