The Importance of Car Insurance

Basics of Car Insurance

Car insurance is not mandatory in the Philippines, but it’s always wise to keep your car secured. With more cars on the road and vehicular traffic becoming worse, it pays if you buy comprehensive car insurance for your precious investment. If you’re still uncertain about insuring your car, these reasons will definitely convince you to finally get one for your peace of mind and financial security.

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Road accidents are on the rise

The World Health Organization reported that 1.25 million people every year die from road accidents. For people aged 5 to 24, road accidents were among the top leading causes of casualties around the world. Meanwhile, the Philippines saw a dramatic rise in car accident deaths in the country in less than 10 years. According to the Philippine Statistics Authority, car crash casualties in 2006 were only 6,869 and it jumped to almost half at 10,012 deaths in 2015.

It covers basically anything

When you get a comprehensive insurance, you’re basically protecting yourself from a lot of things. Aside from the stress of financial concerns due to a car accident, you’re also insulated from the cost of repairs due to accidental collision, overturning, fire and lightning, explosion, theft and burglary, and self-ignition. In addition, car accident liabilities to other people and their properties are also part of a comprehensive insurance car coverage so you’re set.

Your car will also become typhoon proof

Climate change and man’s total disregard for his environment cause the floods to become deadlier. While floods are a serious threat to your vehicles, they’re not yet covered by your standard-issue comprehensive car insurance. Instead of risking your precious car, you can get the acts of nature addon to your comprehensive car insurance policy. Not only that it covers damage due to flood but it also protects you from volcanic eruptions, earthquakes, typhoons, and other natural disasters. It won’t cost you an arm and a leg, unlike replacing your car that’s totaled by mother nature.

Car insurance is cheaper than getting in an accident

When you get involved in a collision and you don’t have a car insurance, you have to do everything by yourself: moving your car from the scene of accident, dealing with the other parties, taking your car for repairs, and battling the legal repercussions due to the car crash. Aside from being costly, it can also drain the energy out of you. With a car insurance, your insurer will take care of all those things for you and so much more. The cost of car insurance premium is exponentially cheaper than potentially getting involved in a road accident.

Car insurance policies have a lot of addons

When you get a car insurance, you’re not just paying for the policy itself. There are many other features under your policy that can be used even if you don’t get involved in a car accident. Want a deterrent against thieving and burglary? They offer free security glass etching. Did your car break down in the middle of the road? They have roadside assistance and towing for free. All these and other nonstandard coverage for car owners are free if you buy car insurance.

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