What Makes Vehicle Insurance Important?
A type of insurance called vehicle insurance pays for the expense of fixing or replacing a stolen or damaged car.
The majority of people are less knowledgeable about what vehicle insurance is and why they should care about it than they are about other types of insurance.
The primary purpose of auto insurance is to shield you from financial loss as a result of possible theft or damage to your vehicle.
You must have insurance, at the very least third party coverage, if you own a car. The most fundamental form of insurance, third party cover, will shield you from third-party liability in the event of an accident. Your car will be protected by collision insurance, but it is not required everywhere. If your vehicle collides with another object without collision insurance, it will be written off.
If I Don’t Have Car Insurance, What Happens?
Having car insurance will protect both you and your vehicle in the event of an accident. You will be responsible for any damages your car causes if you don’t have car insurance.
The following consequences could occur if you are found driving without the necessary auto insurance:
- A 30-day license suspension will be imposed.
- You might incur a $500 fine.
- If your driving results in someone getting hurt or killed, you might be charged with a crime.
A car without insurance runs the risk of being impounded, which prevents the owner from using the car without paying a daily fine. Insurance policies typically need to include uninsured motorist coverage. It shields drivers from harm caused by uninsured motorists or hit-and-run drivers who flee the scene.