Some motorists resent buying or having to buy car insurance while it is a no brainer for most drivers. Perhaps it is time to have a look at how auto insurance can help policyholders in many ways and how valuable it is. It can be a terrible decision to go without coverage. Even if you are a good driver and haven’t had an accident for years (or never had one) there is no guarantee that you wouldn’t have one shortly. There is no need to turn a good situation into a very bad one and it is certainly not waste of money to insure your automobile.
Would it surprise you to know that most popular car insurance type in the US is full coverage policies with 72% of policyholders choosing it? Only basic liabilities cover is a legal requirement but most people buy full coverage auto insurance. It is unanimous and buying not only basic but great vehicle insurance must help 2/3 of vehicle policyholders one way or another.
So, let’s have a look at why would anyone want to purchase automobile insurance policy if they weren’t worried about accidents or if it wasn’t required by the state laws. How will buying auto insurance help you?
- Peace of Mind
This would be the first reason to come to mind. If you don’t have coverage wouldn’t you be worried each time you drive out of parking spot that there is something terrible will happen? In fact, something might happen even in a parking lot. Technically, you would still be the same driver with or without insurance but you would probably be more relaxed if you know you are fully covered. Knowing that you are insured will help you relax while driving and sleep better at night. Many people end up buying much larger coverage than they really need because it gives them peace of mind.
- Just in Case
Perhaps this is the reason why many people buy auto insurance of any type. It may be unlikely but just in case. Besides you don’t want to jinx it. So, pay up and buy the policy just in case. Actually, if you were buying a policy with the expectation of having an accident the policy is rigged (moral hazard) in your favor because the insurers don’t know that you expect an accident. Yet, the unknown nature of it makes it morally acceptable for bad drivers to buy insurance instead of taking further driving lessons, finding a way to improve or giving up driving. Vehicle insurance should never be seen as a solution to bad driving. Nevertheless, that may be why some drivers want to insure their automobiles as best as they can.
- Being Ethically Compliant
There are many unwritten rules in our lives or business. Many industries agree upon and follow good practice even though it is not a law or they cannot be enforced. We choose to comply with moral norms without the need for laws. We do or don’t do many things because it is a bad form. It is probably a bad form to drive without buying auto insurance liabilities coverage now in developed world that people would carry on buying liabilities cover even it wasn’t legally required anymore.
Most people with the same moral ethics would be happy that it is a legal requirement. Otherwise, they would be providing coverage for drivers who will not return the favour. Actually, there are “no pay no play” laws in some states that prevent uninsured motorists from claiming on other third party policies. The perceived problem is that you are taking advantage of a provision even though you weren’t prepared to offer the same for the other drivers. In a way, it is not hard to see why it is a legal requirement to buy liabilities car insurance in every state in the USA.
- Clear Responsibility
Regardless of the laws and regulations you know that you are responsible for the damages and injuries you caused to third parties. You cannot just drive off leaving them behind with their injuries. You must stop to help and stay around to pay for their losses and hospital bills. Guilt is a terrible thing and most people would feel that the least they can do is pay for the damages after causing pain and suffering. It is a relief that there is a simple solution for dealing with such responsibilities and you can get your own losses insured in the same time. How will buying car insurance help you? It will free you from guilt and worry.
- Not Wanting to Deal with Third Party Claims
If you never had an accident you wouldn’t know but third party claims can really be pain to deal with. You would want to just give them your insurance details and forget about some of the people. Some of them can be totally unreasonable with their claims and the way they argue about it that they need to be dealt sternly by an insurance company. You can read how we couldn’t agree on an amicable solution about a claim. Even you have money and can pay for the damages it is not easy to deal with other people. You certainly don’t want them to get away with faking and claiming over the top.
You may have started from a point of resenting the whole idea of having to buy car insurance. Perhaps, you now agree that it is great to know there is a solution like insurance to solve many concerns and worries drivers have. Can you imagine getting behind the driving wheel everyday not knowing what could happen just around the corner? Without any exaggeration, many people just wouldn’t be able to drive if they didn’t have insurance.
If you are not happy with the fact that you are forced to insure your car the resentment may be eased by finding cheap auto insurance quotes. If you don’t take the time to find a better deal policy you cannot really blame anyone else for the high premium you pay. Think about it next time you renew your policy and see how much coverage you want to buy and how little you can manage to pay. If you are not sure about the type of policy you want or need check recommended auto insurance coverage options.