For many drivers, car insurance is seen more as a necessary expense in their budget than a true benefit that is worth paying for. Car insurance is indeed a necessary expense as a minimum amount of cover is required by law for drivers in the United Kingdom. However, your cover can benefit you in a number of ways too. In fact, here are five ways that you can benefit from your car insurance policy.
1. Reducing Personal Liability
You may not realize it, but you are responsible for all damages you cause while operating your car. This means that you are responsible for damages you cause to your own car as well as damages you cause to other people’s cars and property. You may run into someone’s fence when you lose control of the car in a rainstorm, or you may cause an accident with another vehicle. All of the vehicle repair expenses, lost personal property, real estate damages and medical expenses are your responsibility to pay for, but your insurance will pay for most or even all of your expenses. Without insurance, you may be sued for damages if you are unable to pay for all of the expenses.
2. Reducing Your Out-of-Pocket Repair Expenses
While nobody wants to get sued after an accident, nobody wants to empty their bank account to repair their vehicle after an accident either. Certain types of cover, such as a comprehensive policy, will pay to have your vehicle repaired. You will still need to pay your excess, but most comprehensive policies will pay for most or all of vehicle’s repairs costs.
3. Replacing Personal Property
How many times do you drive down the road with rather expensive items in the car? Just think about how valuable your cargo is after a shopping trip, when toting your laptop to work and during other similar scenarios. Some types of car insurance will pay to replace those items if they are stolen from your vehicle or damaged.
4. Paying for Medical Expenses
You may have some health insurance, but you understand that even with health cover, you may have to pay some medical bills out of your own pocket. With some car insurance policies, your medical expenses may be included in your benefits.
5. Replacing Your New Car
If you have a comprehensive policy, your car insurance may pay to replace your vehicle outright if the vehicle is less than 12 months old and it is damaged. You will want to read the fine print on these policies, however. While there are some requirements that must be met to qualify for this benefit, it can provide you with peace of mind and financial benefits if you wreck a new car.
Buying car insurance in the United Kingdom is a requirement, but your cover comes with a number of benefits. When shopping for your cover, keep in mind all of the benefits that your new policy will provide to you!