Yes, you should get car insurance to cover yourself, other road users, and comply with the law, especially if it’s mandatory. Many seasoned drivers know the relevance of car insurance, but sadly there is still a considerable number that does not. For most new drivers using their first car, car insurance seems like a liability more than something beneficial.
Never overlook the essence of car insurance, as this will save you lots of trouble and time. This guide aims at showing the importance of car insurance as long as you are a driver on the road. So, why should you get car insurance?
To comply with the regulations
Driving around in Singapore with no insurance cover for your car is illegal. If authorities catch you with no car insurance, you attract harsh penalties. If the vehicle does not have third-party insurance, then you could spend the next three months in prison or a fine of $1,000 or even both penalties.
That is why you are advised to pay for car insurance to avoid such instances. Do not be the ignorant individual that drives with no insurance, as you may be disqualified from driving for the next 12 months.
To Protect Your Passengers and Third-Party
Car insurance often protects your passengers in the case of an accident. Comprehensive insurance will cover injury to someone else in an accident. That means most expenses arising from the accident, such as substantial hospital bills for your passengers, will be cleared by the insurance company.
Any third party involved in the accident will also be covered, such as a motorcycle guy or a pedestrian. That will save you a lot of cash and time if you are the driver at fault during the accident.
To Protect Yourself
While on the roads, always be ready for anything. An accident could happen anytime, even when you expect it. Accidents can happen even when you are broke, which may be tricky for hospital bills. That is where car insurance comes in.
Your insurer will pay for the expenses involved after an accident, and with most plans, you will not pay anything if the claim is successful.
Hospital bills can be pretty high when one is severely injured in an accident, and the insurer will caution you from such ridiculous amounts of money. That is one critical essence of car insurance.
It saves you time and stress.
Following up on accidents and the aftermath can be tedious, time-consuming, and stressful. If you go for the ideal insurance coverage, you will not have to negotiate with other drivers or other involved parties. You will also not have to manage the costs of replacing or repairing your car as all that is taken care of.
Handling all these matters on your own will consume a good chunk of your time and money. Excellent insurance companies will cover all the headaches involved after an accident.
The insurance cover can help you with vehicle repairs, replacements and even towing. It may also cater for the damages made to other people’s property.
Although many first-time drivers may not see the need for car insurance, it is crucial. It will help you avoid unnecessary costs and expenses directly from your pocket, which may be a lot of money. It will also ensure you comply with regulations.