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Why You Need to Set Up An Insurance Policy Before Hitting The Road

There are many things which you need to consider when it comes to driving, but getting comprehensive car insurance is one of the most important. There are hundreds of thousands of vehicle accidents every year, and these can cause enormous costs in terms of vehicle damage and personal injury, both of which require suitable insurance to cover. 

In many countries around the world, it is totally illegal to drive without vehicle insurance, so it is not just a financial matter but a legal one. With so man y different insurance policies and providers on the market, it can be difficult to know where to start when looking for an insurance plan. To help everyone out there to understand the importance of insurance, here is why you need to set up an insurance policy before hitting the road.

1. To Comply with the Law

The first reason why you need to get vehicle insurance is in order to stay on the right side of the law. In Canada and other countries around the world, it is illegal to even operate a vehicle without insurance. If you are pulled over by the police, or especially if you are involved in an accident, not having insurance is going to put you in serious legal jeopardy. 

Different countries have different regulations when it comes to the scope of insurance coverage which is legally required. One insurance expert in Kitchener explains that in Ontario, as well as across the rest of Canada, drivers are required to have liability coverage of at least $200,000 Canadian. In addition, both the vehicle and the driver themselves must be insured under the motor vehicle insurance plan.

2. To Cover the Cost of Vehicle Repairs

Vehicles often require repairs whether that is due to an accident or just general wear and tear. The cost of these repairs can be very high indeed, especially if you are just paying for them all yourself out of pocket. There are many instances, however, where your car insurance will cover the cost of repairs that your vehicle requires. After an accident, for example, you can make an insurance claim so that repairs are taken care of while you are waiting for any legal or compensation proceedings to go ahead. 

This is very important because it will give you the means to go ahead with repairs so that you have your vehicle up and running again during the period before you are awarded your damages. In addition, many insurance policies cover the cost of a replacement car while you are waiting for yours to be fixed.

3. To Cover Your Car Against Theft

Car theft is one of the most common types of crime across the world and having your car stolen or broken into can be an incredibly frustrating and distressing experience. The cost of replacing a stolen car or repairing damaged windows and replacing stolen items from a break-in can be extensive. Fortunately, a comprehensive insurance policy will cover your vehicle against various types of theft or vandalism. You will also be able to get a courtesy car under your insurance plan which you will be able to drive until you have the opportunity to replace your vehicle or get the damage repaired which was caused by the thieves.

4. To Protect Yourself After an Accident

Unfortunately, traffic accidents are a far too common occurrence these days and the damage which can be caused to both vehicles and people are extensive. The cost of repairs, medical bills, and loss of earnings due to missing work through your injuries can all have a huge effect on your finances. With comprehensive vehicle insurance, however, all of these costs will be covered. Depending on the exact terms of your policy, you may have to pay an excess but it will be many times smaller than having to pay for everything yourself. If you were involved in an accident that wasn’t your fault, your attorneys will even be able to claim it back from the other party. In this way, you won’t be out of pocket at all.

Vehicle insurance is so important and in many places, driving without it is completely unlawful. As well as staying on the right side of the law, there are various other important benefits of vehicle insurance such as covering your vehicle for the cost of expensive repairs and protecting you if your car is stolen. Choosing the right vehicle insurance is difficult with so many options available so it always pays to do your homework. Speak to as many insurance providers as possible so you can choose the absolute best policy for you.


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