The Importance of Auto Insurance
Having auto insurance is a must if you are going to own a car. It can be cheap or expensive depending on what type of coverage you are looking for. There are several companies that will offer you a quote and some come with extra roadside assistance if your vehicle unexpectedly breaks down while you are on the road. What insurance coverage would work best for you? Looking at certain factors, there are really only two types of coverage. They are full coverage and liability. You have to know which one would benefit you best when driving along on the highways and streets with everyone else.
Why Should I Get Full Coverage Insurance?
If you are buying your vehicle brand new, having full coverage insurance is mandatory. This type of coverage protects you and the dealership because you are only making monthly payments, but the vehicle is theirs until you pay it or trade it in. Should you get into an accident or the vehicle gets flooded, the dealership where you made the purchase can get reimbursed through the insurance for the damage. If the other person who caused the accident does not have insurance, you can still get your medical bills paid along with anything else the policy covers. This is why getting full coverage auto insurance chicago il is important. When you are in a big city such as this one, accidents do happen with people who simply are not paying attention while in traffic. Plus, full coverage protects anyone is not only behind the wheel driving but also every passenger in the vehicle who gets hurt. So, this type of insurance is very helpful.
Why Should I Only Get Liability?
If you are buying a used cash car and pay for it outright, then you would only need liability. This also holds true if you just simply cannot afford full coverage. One of the advantages of just having liability is that it offers the basic minimum coverage you would need to be driving on the road. You can add some extra perks to it in order to make the policy have more value. Just know, however, that if you get into an accident, unless you have added some extra coverage for yourself to that policy, the driver in the other vehicle is the only one covered. You would have to do any repairs you make on your own and if the car is totaled, you are out of luck. You would have to and get you another vehicle to drive. This insurance is also good for teenagers just getting behind the wheel because at a young age the premiums are very high. Adding hem to your insurance will send the cost through the roof. So, getting liability can ease the sting.
Having auto insurance is also the law. You could have your vehicle towed and license suspended for not being covered. Always make sure to keep your policy payments up, your safety depends on it.