For most motorists it is a no brainer that buying a policy is the safest, easiest and most sensible thing to do while few may actually resent being required to have it. Perhaps it is time to look at how car 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 very careful 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.
With all these contentions about its compulsory nature, would it surprise you to know that most popular type in the US is full coverage with 72% of vehicle owners choosing it? Only basic liability is a legal requirement but most people go for more. It is unanimous and it must help 2/3 of motorists one way or another.
The big question we will try to answer here is why would anyone want to get a policy if they weren’t worried about accidents or if the state laws didn’t enforce it? So, let’s have a look at how will purchasing vehicle 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 turn on the engine 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 it but you would probably be more relaxed with it. Knowing that you are insured will help you relax while driving and sleep better at night. Many people end up spending a lot of money for 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 automobile insurance of any type. It may be unlikely but just in case one of those things that are included might happen. Besides you don’t want to jinx it. So, pay the premium up and forget about it. Actually, it is rigged (moral hazard) in your favor if you were somehow sure of an accident because the insurers don’t know that you expect one. Yet, the unknown nature of it makes it morally acceptable for bad drivers to have coverage instead of taking further lessons, finding a way to improve or giving it up altogether. It should never be seen as a solution to bad driving. Nevertheless, that may be why some people 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 coverage that people would carry on arranging liability even it wasn’t legally required anymore.
Most people with the same moral ethics would be happy that it is compulsory. Otherwise, they would be providing third party coverage for motorists 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 others. In a way, it is not hard to see why it is a legal requirement to have at least minimum limits.
- Clear Responsibility
Regardless of the rules 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 included in the same time. How will buying car insurance help you? It will free you from guilt and worry.
- Not Wanting to Deal with Liability 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 policy 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 a carrier. You can read how we couldn’t agree on an amicable solution even with a friend. 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 not being free about making own choices. Perhaps, you now agree that it is great to know there is a solution like auto insurance to solve many concerns and worries. Can you imagine getting behind the steering wheel everyday not knowing what could happen just around the corner? Without any exaggeration, many people just wouldn’t be able to drive because of stress and worries if they didn’t have it.
The resentment may be eased by finding cheap quotes if you are not happy with the fact that you are forced to get it. 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 it and see if you can manage to get it at much affordable price. If you are not sure about the type of policy you want or need check the recommended options.