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.
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.
If you have no comprehensive insurance when such a calamity does strike, you are left out in the cold to fend for yourself.
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.
For someone like you who is buying their first car and contemplating the fact that their comprehensive car insurance policy seems like a lot of money, then it's important to realize that you have no choice. Insurance providers look at the value of the car as well as the age and experience to calculate insurance premiums.
If you are young you are going to pay a lot. Comprehensive car insurance also covers your vehicle in the unfortunate instance of a car 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.
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.
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.
If you have no comprehensive insurance when such a calamity does strike, you are left out in the cold to fend for yourself.
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.
For someone like you who is buying their first car and contemplating the fact that their comprehensive car insurance policy seems like a lot of money, then it's important to realize that you have no choice. Insurance providers look at the value of the car as well as the age and experience to calculate insurance premiums.
If you are young you are going to pay a lot. Comprehensive car insurance also covers your vehicle in the unfortunate instance of a car 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.
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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