Finance

Bring That Baby Home: Your Car With An Insurance

Car Insurance! Were you itching to buy a brand new car? It may seem that easy but buying a car is like adding up another family member and may cost you a little more than the price tag; Let me tell you why here.

Not everyone is blessed to be rich, who can buy off everything they like. People always think first about what they need before purchasing insurance, and when it is about a car, it is not still going to be always the case.

I dreamt of having a Mini Cooper one day, and if I could save that kind of money then I probably would have that car right now, and I will be going far, far away with it, but that’s not always the case. Just the thought of it, having to buy your car means taking care of another life and it isn’t going to be easy at first, but it would probably be the least of your worries when you treat it just like a living thing.

Just imagine like you are taking care of a newborn baby. It’s not going to be easy, but you know that it will take a lot on mostly on the financial side, for example, the monthly check-ups, vaccines, and in worst cases hospitalization. Hearing this makes you want to cringe, and I believe that you might have an idea about getting insurance, and that will be the best thing you can get to help you in getting that dream car you’ve always wanted plus the benefit from having it insured.

Car insurance is a legally binding contract between the car owner and the policy issuer or insurance company. These contracts may vary because there are different kinds of car insurance you can choose from and the coverage may include all but not limited to

  • The damaged property including the theft of your car
  • Liability or your legal responsibility to other and bodily injury caused by an accident or damage
  • Medical coverage for treatment, rehabilitation, and sometimes loss of job due to accident and in case of death, funeral expenses

These are the most common coverage you can avail of before even getting or driving your brand new car. You must consider purchasing insurance together with the vehicle. But these policies differ from other states, some might be mandatory to get, and for some, it is not the case.

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WHO GETS COVERED?

Besides the owner of the car, the one who legally purchased the vehicle, and his/her name is on car registration, your family (that is listed on the policy) is also covered. In some instances, a person as long as is driving your car with your consent, of course, can be insured even when he/she is not listed on your policy. Pretty good, right?

INSURANCE 101: The basic ones you can get and other types we may want to be familiar with

In this area, we will summarize the basics and the other insurances you possibly get in the market. To give you a heads up, so you could think about what you can get for your own.

To add to the policies as mentioned earlier, you may also want to add these things for your convenience. These are optional, but it is good to know your options, right?

  • The collision means the coming together of two things. It will compensate you when there is damage to your car as a result of a crash. It may be an accident with another vehicle or to an object, for example: hitting a tree, a railing, and so on, as long as it is your fault.
  • Comprehensive type is another one, and it talks about damage brought about by a natural disaster. Yes, a natural disaster where one cannot or would be about to do anything about it. Examples include but not limited to fire, flooding, falling rocks or trees, even the unexplained hitting of an asteroid.
  • Glass Coverage and this one is common to the windbreaker damage. May also include other windows such as the side and the rear ones, glass sunroof and you have the option to buy supplemental glass coverage for your car.
  • Uninsured/Underinsured Motorist Coverage may be a requirement for some insurance companies. It can also be an excellent addition to your policies because it can protect you as a pedestrian if you are a victim of a hit-and-run also if a driver is at fault in an accident with you and doesn’t have enough insurance to compensate for your damages.

Sounds interesting. You may want to include this in your list as you are bringing home a new baby- that new car you’ve always dreamt of. Now, treat yourself that baby and be insured!

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