Why Do I Need Auto Insurance?
Next to your home mortgage or rent, your car payment is probably one of the largest monthly expenses you have. Toss in gas, insurance, maintenance, and everything else that goes along with owning a car, and it all adds up to one pretty penny rather quickly. With all these extra expenses, it may be tempting to skimp on your auto insurance coverage. But that doesn’t mean it’s a good idea.
Warren Allen specializes in personal injury law, representing people like you and helping them get the most out of their auto insurance. But in order to help you do that, you first have to be insured. Here are some of the top reasons you should carry auto insurance. Trust us, this is one card you’ll always want to keep in your back pocket.
First and foremost, your auto insurance offers protection should you ever damage your vehicle or experience bodily injury from a car accident. Though you have to pay upfront for auto insurance coverage, it can save you from a major financial loss down the line in the event that you’re in a catastrophic accident.
If you’re the person at fault in a car accident, for example, your auto insurance protects you by covering the cost of repairs. Your auto insurance may also cover property damage if you knock over someone’s mailbox, for instance. Though you may be responsible for paying a deductible, having auto insurance generally protects you by limiting your out-of-pocket expenses if your car is seriously damaged.
But even more important than that, some types of auto insurance also protect you and your family by covering medical expenses that are the result of a car accident. If you injure another person in an auto accident, bodily injury liability insurance will help pay the cost of their medical expenses as well. This type of coverage may even help cover attorney fees if you’re in a dispute and need to retain a personal injury law firm to help resolve complex legal issues. Furthermore, this type of auto insurance coverage is required in the state of Oregon. More on that in just a bit.
In addition to saving you money, auto insurance makes things convenient as well. Once you contact your auto insurance company and file your claim, most matters will be handled for you. Let’s say you’re in an accident and your car is damaged. Your insurance provider can arrange to have a tow truck company tow your car to an auto repair shop. They will also arrange for the cost of the repairs, minus your deductible. Your insurance provider will also contact a rental car company to reserve a rental for you while your car is in the shop.
All of these expenses can add up to quite a lot. Not only will the cost of repairs and the rental car be covered, but you also won’t have to worry about making these arrangements on your own. While car accidents can be stressful, your auto insurance provider can minimize that stress by handling all the moving parts that must be addressed following an auto accident.
Gives You Peace of Mind
Imagine walking out of your home to find that your car isn’t where you left it. You search the parking lot and see broken glass. Perhaps someone knocked out a window, hot-wired your car, and drove away with it. What are you going to do? You still have a car payment, and now, if you’re unable to recover your car, you’ll need a new set of wheels as well.
If you have comprehensive auto insurance, you’ll have peace of mind knowing that your car is protected. With comprehensive coverage, you can recover the cost of your car’s value if it’s stolen or damaged because of a break-in. You can rest easy knowing you won’t have to make payments on a car you no longer possess.
Insurance providers also vet the companies they work with and only contract with trusted industry leaders. This means if your car is vandalized or damaged in an accident, you won’t have to worry about taking it to an auto repair shop that’s going to inflate the cost of repairs and perform unnecessary work. You can have peace of mind knowing the repair shop is likely a reputable company that the insurance provider has worked with many times before.
It’s Legally Required
Auto insurance coverage offers many benefits that make it pretty clear it’s a smart investment. But not only is it a wise choice, it’s also a legal requirement in many states. For instance, in the state of Oregon, it’s illegal to drive without liability coverage. If you live here, you’ll need to have both bodily injury and property damage liability coverage. The minimum amount of coverage required is $25,000 per person, $50,000 per crash for bodily injury to others, and $20,000 per crash for damage to the property of others.
There are certain exemptions to the rule. But in most cases, auto insurance is required. Plus, in the long run, the advantages auto insurance provides outweigh its cost. You’ll be in compliance with state law and also have coverage should you be involved in a car accident.
We get it. The costs of owning a car certainly add up. Gas, repairs, insurance, oil changes … the list goes on and on. But the fact remains, you simply cannot overlook the importance of carrying auto insurance. If you have questions about your coverage, need legal advice, or want to retain representation for a court matter involving a personal injury accident, reach out to us here at Warren Allen. We’ll provide you with sound advice to help you save money, as well as protect yourself and your family.