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Stats: 265 members, 2,950 topics. Date: November 18, 2018, 7:14 am
Many of us need automobiles to get from place to place, so we all know how useful they can be while also recognizing the fact that driving an automobile is dangerous. You might be careful in obeying traffic laws, but you never know when someone else will not and be the cause of an accident that involves you. Then again, mistakes do happen and you never know when something may occur that you will be at fault. These are reasons why it is important to have auto insurance.
However, vehicle insurance (also known as car insurance, motor insurance or auto insurance) is insurance for car, trucks, motorcycles and other road vehicles. Its primary use is to provide financial protection against physical damage or bodily injury resulting from traffic collisions and against liability that could also arise there from. Auto insurance covers much more than just collisions. There are times when certain acts of nature may occur such as a hail storm or a falling tree that may cause damage to an automobile and it would cost too much money out of pocket to fix these things. The insurance will sometimes charge a small deductible depending on the type of accident that has occurred, but the cost is minimal compared to what it would cost to fix an automobile on your own.
Just imagine what a world without auto insurance would be like. First of all, people who are at fault in accidents would be paying money to the accident victims out of their wages and other income for years to come. Those who have been injured in an accident at no fault of their own are entitled to have their medical bills, vehicle repairs, and other expenses paid by the insurance of the person who was at fault. If the person at fault does not have insurance, then they do have to pay those expenses out of their pocket. Many people have been known to lose major assets because they did not pay the minimal cost of having auto insurance to prevent such losses.
Then there are those natural disasters that we have absolutely no control over. There have been many overturned trees from high winds that have decided to fall the direction of someone's brand new car. There have also been the occasional hail storms throwing objects at many automobiles. This can cause thousands of Naira in damage that goes beyond the scope of what most individuals can afford straight out of their pocket.
Further you can learn the essential coverage options which must be included in any car insurance plan. These essential coverage options are as follows:
• Damages which occur due to man-made events such as burglary and riots and theft or other such activity
• Damages which occur from natural calamities such as landslides and fire and lightning
• Third-party liability cover- This is an important cover which covers all third-party liabilities and expenses which otherwise can cost you a bomb.
• Ensure that your car insurance provides adequate cover treatment in hospitals or hospitalization costs, surgery costs and doctor’s expenses.
• In case of damages to third-party property or demise of third-party, the compensation costs can be really high. Similar is the case with third-party injuries like the broken limbs or burns. However, when you have third-party liability insurance, you will be saved from all these costs. Only ensure that you renew your policy always on time to enjoy continuous benefits.
So why is Auto insurance important?
It is already quite obvious to see why having auto insurance is very important. If not, then look at it this way:
• You are protecting your automobile, one of the largest investments you make in your life.
• You are able to pay for medical bills if an accident occurs.
• You don't have to feel the biggest part of an accident-related lawsuit.
• Protects assets that you've worked hard for from being lost due to a lawsuit.
• Protects you from those motorists that may not have insurance of their own.
• Not only pays for accidents and weather-related incidents, but also pays for vandalism and theft.
• You know you are protected every single time you hit the road.
However, this brings about another point. It is very important that you review your insurance policy and make sure you understand all of it since every policy is different. Prestige Assurance Plc offers convenient automobile insurance option plans depending on a person's financial capacity or need. Moreover, considering the various available options, automobile owners may choose a certain type of coverage over another for a variety of reasons. This can be because they want to cut premium costs perhaps they simply cannot afford higher coverage or another reason could be premise on insurance coverage needs. These things should be considered carefully because you never know when one accident may be the event that causes you to lose many of your assets in order to satisfy the cost of a lawsuit settlement.
Visit us at www.prestigeassuranceplc.com today for a genuine automobile insurance.
DOUBT IF YOUR MOTOR INSURANCE IS GENUINE?
Confirm the authenticity of your motor policy via the following:
Send SMS: Policy number *plate number to 33125 (e.g. OIN/0098/201401*AB567CD to 33125)
PRESTIGE……compassionate and caring.
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