Why Cars Need Insurance

Based on the Road Traffic Act of 1988, all vehicles must be insured against their liability to other road users. Therefore, every car needs to be protected as it helps cover expenses if any form of accident occurs. It’s saddening to see that most people do not know the importance of having their cars insured, some even think it is a scam and, as such, pay no attention to the numerous benefits one stands to gain. Just like every other insurance policy, car insurance is essential. Therefore, it is necessary to understand the fact insurance is and get the facts right as well

Levels Of Insurance Cover

Since the importance of ensuring one’s car has been established, the next important thing is to get acquainted with the various levels of cover one can choose.

  • Third-Party

Third-Party insurance policy offers protection for the other party involved in the accident. This is a form of liability insurance where the insurer (second party) settles expenses like hospital bills, property damages invited by the third party. Here, the insurer is not responsible for the losses on the insured(first-party).

  • Third-party, Fire, and Theft

Third-Party, Fire and Theft Insurance Policy offers coverage for the damages caused to a third party or their properties. The difference between the third party insurance policy and third party, fire and theft insurance policy is that this policy offers provision for the insured as it does for the third party. However, this insurance policy is slightly expensive than third party policy as it provides additional protection for both parties.

  • Comprehensive Insurance Policy

Comprehensive Insurance Policy offers to either repair or replaces the vehicle if stolen or damaged. Typically, this insurance policy is more expensive than third party and third party, fire and theft insurance policies as it offers a wide range of car insurance protection.

Car Insurance Quote

Car Insurance Quote is an estimate of the rates with one’s potential insurer (the insurance company). Unlike popular thoughts, getting a car insurance quote is not rocket science. One can get quotes online, or by making a call to the company itself. However, you need to know the details required of you: Name, Age, Occupation, Address, Duration of Driving Experience, Other drivers’ details, Insurance Policy Duration, Location for Overnight Parking, Estimated Annual Mileage and Car Model

Benefits of insuring your cars

The benefits of protecting one’s car cannot be overemphasized as they are quite a lot. A number of them include:

  • Lawsuits (covers lawsuit and other legal fees)
  • Vehicle repairs
  • Other damages (caused by theft, fire)
  • Financial relief, if the vehicle gets stolen
  • Discounts and Perks
  • Sense of security
  • Medical Expenses
  • Less stress

What Car Insurance Does Not Cover

  • Mechanical and electrical breakdown
  • Damage to/ by the person driving without a valid driving license
  • Nuclear and war damages
  • Depreciation of the value of the car
  • Consequential loss

However, MotorEasy Warranty Insurance covers a lot more than what the usual benefits of insurance. They include repairs like wear and tear, damages from overheating, air-conditioning problems, and other failures identified at the garage during the MOT test.