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.
The law requires that every car on the road is insured, which leaves you no choice but to take out compulsory insurance unless you want to get fined or imprisoned heavily for ignoring the insurance. Compulsory insurance only covers the other vehicles involved in the accident if you are the one held responsible for the accident.
Buying a car for the first time is a big step in a man or woman's life. However it also comes with some risk and more expenses.
Not only will you be paying a lot of car payments and such, but also expenses for repairs and the small chance it might be involved in an accident.
However if you are covered by comprehensive car insurance, the damages are covered by the insurance agency.
Insurance premiums are calculated on an annual basis, and should run at around 6% of the replacement value of your car.
If you are buying your first car, this is especially important. Chances are you are young and somewhat inexperienced as a driver. Comprehensive coverage will protect your vehicle from one minor mistake you might make or from theft, especially if your vehicle contains a lot of desirable goods for thieves.
These desirable goods might include radios, disc players, GPS systems, mobile computers, and other expensive items inside or outside the car. Comprehensive car insurance will protect all of that with the right policy.
Not taking out comprehensive insurance is a disaster waiting to happen. If you really have any wits, you will understand the small annual insurance premium is well worth the expense.
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.
The law requires that every car on the road is insured, which leaves you no choice but to take out compulsory insurance unless you want to get fined or imprisoned heavily for ignoring the insurance. Compulsory insurance only covers the other vehicles involved in the accident if you are the one held responsible for the accident.
Buying a car for the first time is a big step in a man or woman's life. However it also comes with some risk and more expenses.
Not only will you be paying a lot of car payments and such, but also expenses for repairs and the small chance it might be involved in an accident.
However if you are covered by comprehensive car insurance, the damages are covered by the insurance agency.
Insurance premiums are calculated on an annual basis, and should run at around 6% of the replacement value of your car.
If you are buying your first car, this is especially important. Chances are you are young and somewhat inexperienced as a driver. Comprehensive coverage will protect your vehicle from one minor mistake you might make or from theft, especially if your vehicle contains a lot of desirable goods for thieves.
These desirable goods might include radios, disc players, GPS systems, mobile computers, and other expensive items inside or outside the car. Comprehensive car insurance will protect all of that with the right policy.
Not taking out comprehensive insurance is a disaster waiting to happen. If you really have any wits, you will understand the small annual insurance premium is well worth the expense.
About the Author:
Graham McKenzie is the content Syndication Manager at Insurance123.co.za South Africans leading car insurance information portal
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