Why Is Auto Insurance Important?

Every state has minimum requirements for auto insurance that every auto vehicle owner is required to fulfill. One may purchase more than the state’s minimum requirements for higher coverage limits. Auto insurance is necessary for protection from costs associated with a vehicle’s accident e.g. legal fees, medical expenses, etc.

Listed below are the reasons for buying auto insurance:

• Protection From Costs Of Repairs: Those who purchase comprehensive and collision auto insurance enjoy complete protection from damage caused by things like rocks, falling trees, storms, lightning, accidents with animals and more. Your insurer pays for the losses incurred (up to coverage limit) and takes care of any repairs required.
• Peace Of Mind: The fact that you and your family are protected against monetary losses due to damage to your vehicle, lets you enjoy peace of mind. You do not have to worry about the expenses in case of an accident or any other kind of damage.
• Protection Of Passengers: Apart from offering you complete protection for medical payments and PIP in case of an injury, auto insurance also helps to pay for medical bills for passengers in your vehicle. It caters to expenses incurred on doctor bills, hospital visits and costs of surgery.
• Personal Injury Protection (PIP): Auto insurance provides coverage for expenses such as lost wages, medical bills and so on irrespective of whose fault it is. Every state has different requirements for this coverage.
• Damage To Insured Vehicle:  Auto insurance offers compensation for damage caused to a vehicle due to fire, accident, theft, burglary, riots, terrorism, etc. An insured vehicle also enjoys protection when in transit (inland waterways, road, rail, air or lift).
• Legal Protection: An insured vehicle’s owner that faces legal liabilities due to death or bodily injury of a third party enjoys protection via auto insurance. If you want more coverage for legal expenses, loss of earnings, loss of possession, etc., you can purchase additional coverage.
• Roadside Assistance: One can also purchase roadside assistance coverage for issues like a flat tire, overheating, dead battery, mechanical breakdown, insufficient fuel/gas, entrapment in mud, snow, water or sand and more. The insurance also covers expenses of labor at the site and is available for 24 hours a day.
• Pet Injury Coverage: Auto insurance also provides coverage for injuries to pets due to an auto accident. A certain amount of coverage is provided for pets on a ride in an insured vehicle.