Drivers on the road without car insurance are a significant problem in South Africa. More and more car owners choose to cancel their insurance to try to save money. When economic periods are tight, it may seem like a non-essential expense, but the consequences can be severe.
According to the CARmag.co.za report, in a 2016 survey, the Automobile Association (AA) found that between 65-70% of the 11.4 million cars registered in the country are not insured. It is about eight million unregistered, uninsured vehicles that endanger insured drivers.
The AA said a large number of drivers underestimate the negative consequences of not accepting insurance and believe that something wrong will not happen to them or their vehicle. Of course, this is a scary statistic for several reasons.
Accidents happen, so it is reassuring to know that you are financially covered if you are involved in one. Car insurance is a legal requirement, and with an adequate level of coverage, it offers financial protection in case of damage to your vehicle. It will also provide coverage for the injuries of other drivers, passengers or pedestrians and their property.
Why insure a car?
Car insurance is required by law. Driving without valid car insurance is illegal in South Africa. In the event of the death or personal injury of a third party or damage to his car, the car insurance policy offers compensation. Such type of vehicle insurance is known as third party insurance and protects not only you but other people or family members who can ride/drive your car.
Comprehensive car insurance protects your car against any social challenges or terrorist attacks, theft, riots, earthquake, cyclone, hurricane, in addition to the claims/damages of third parties.
Sometimes car insurance can be confusing and difficult to understand. There are guidelines to be followed by car buyers while choosing the policy. Car insurance acts like a great friend in times of crisis. It covers losses incurred in an accident and thus saves you from paying the massive amount out of pocket.
The Benefits of Insuring Your Car
With thousands of cars moving every day in South Africa, it is no surprise that accidents occur. Accidents can be costly, especially if they involve bodily injury. One way to avoid these unnecessary expenses is car insurance. Car insurance can protect you from hefty fines and medical costs, as well as giving you peace of mind while driving.
Understanding the benefit of car insurance will allow you to see the importance of having one, and it will help you to get the maximum value from the insurance policy and coverage you choose.
While the main benefit of car insurance is the peace of mind that comes with it, there are many other benefits of protecting yourself and your car.
Protection against financial liability
Can you afford to pay for accident damage? If you cannot, then you will consider insurance that will help take care of the expenses involved in repair or replacement. Moreover, if there are other medical costs for the other driver and passengers, your insurance will cover these too. Who would want to be sued when you can get your insurance?
Coverage from the payment of medical expenses
Being in a car accident is bad enough; the worst is when you need medical care. We hope it will not happen, but it is still best to be prepared when it happens, you want to be sure that the medical costs are covered as it may be relevant to your financial capabilities. They can accumulate quickly, but if you have insurance it saves you from paying them out of pocket. The good thing is that it covers the driver as well as the passengers if needed.
Preparing for the requirements of the law
First-time car owners are often required to have insurance, they need at least civil liability insurance, and if you have an accident and do not have to show up, you may lose your permit. Having insurance not only can protect you, but it can keep you out of trouble if you have an accident.
Coverage from repair or replacement costs
Depending on the severity of the accident, you will need to repair or replace the car. Being under the protection of car insurance saves you high costs with accidents. If your car is totalled, you will receive equal compensation.
Make sure you don’t become a reckless driver just because you have insurance that supports you. Having insurance allows you to enjoy driving more and driving better. If you are under stress and stressed, it can be risky for you. There are many benefits to having car insurance and understanding more about them can help you need insurance.
Most people own cars or vehicles these days. And as more cars enter the highways, the risk of accidents and damage increases significantly. Moreover, the cost of such repairs can often be high astronomically. This is why it is so necessary to get proper car insurance.
When people are looking for proper car insurance, their priority is to get maximum benefits for the lowest cost. However, there are so many insurance companies on the market that offer complicated terms and benefits, and it can be overwhelming to decide which is best for your specific requirements. However, if you are careful and consider a few tips, you will be able to get maximum benefits in the desired budget.