Car Insurance: 6 Unexpected Benefits One Must Know
If you own a car, there are some obligations which come with it. As much as driving around in your car gets to give you the level of comfort which most people desire. You should be aware that owning a car is an expense on its own. If it breaks down, you will have to incur repair costs.
Also, if you happen to knock down someone, compensation lawsuits might render you bankrupt. For this reason, a car policy is a must-have for every owner. Anyone found without car policy will be fined. Apart from having a car policy being among the ways of being a law-abiding citizen. There are several other unexpected benefits that you must know.
1. Covers legal fees
Imagine you are driving home from work. Probably you are too tired due to exhaustion and all you want is to just get home and relax. Then all of a sudden you hear a loud noise and you suddenly bring your car to a halt. Then it hits you that you have knocked a pedestrian down. Victims of road accidents will at all times need to be compensated for the injuries suffered and medical expenses incurred. Most compensation claims if not settled amicably will end up in court so that the court can give its final verdict.
During such times is when you realize the benefits which your car policy has. The insurance you have secured for your car is what will save you financial drain. One thing about such lawsuits is that they will happen abruptly. You need to prepare for such circumstances and there is no better way to do so than through getting car policy.
2. Vehicle repairs
Your vehicle might need repairs at any given time. They don’t necessarily have to arise from an accident. You could be on just a random drive and your stalls in the middle of the road. The best thing you will be required to do at that particular moment is, call your insurer. Most insurers have their car repair service providers who will dispatch to your location immediately.
However, if you prefer a particular repair service company. Ensure you report the status of the car and any repairs needed. Then proceed to have the repairs done and you will be compensated for any amount of money spent. If your car suffers material damage from a car accident, the repairs will also be done on your behalf.
3. Covers damages arising out of theft or even fire
Maybe you didn’t know this but well, if your car is stolen or is destroyed in a fire accident. Your policy will take care of that. These are some of the benefits which most people overlook but they are real. Losing your car through theft can be devastating, the same case applies to fire. Therefore to avoid such instances you need to stay ready and there is no better way to stay prepared than through taking up a car policy cover.
4. Discounts on multiple cars
You probably have two or more cars in your procession. Most times multiple cars mean more expenses on almost everything. Insurers are well aware of such facts. Sometimes owning many cars is out of necessity. If you have a business, for example, you might have one car for your business and one for your family. When you decide to take up two take up a car policy from the same insurer, you will always get discounts.
Maybe this is a benefit you have never known about but well, you now have the chance to make the right inquiries. Also, when working with a good insurer they will always update you on the available discount offers.
It’s not at all times you are going to have claimed during your policy term. Most careful drivers can go through an entire policy term without having a claim. However, this happens on very rare occasions. If you end up going through your entire policy term without making any claim, you can get a reward for that. At times you can even have your policy reduced for the subsequent terms which you sign up for. The reward you get for not laying any claim is often called a bonus.
6. Compensate beneficiaries of an accident victim
If an accident that you have caused results in the deaths of the victims, your policy will always help you out. The beneficiaries or survivors of the fatal accident victim will need to be compensated. Most times the compensation is in huge amounts more so if the deceased was young and had a good income. Compensation will often be calculated from the age when the person died as a result of the accidents to the expected time of retirement.
If you did not know how beneficial that policy is to you. You are now in a better position to make an informed decision.