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Your First Car And The Insurance

Todays Date: November 20, 2018

Buying a car, especially your first, is the second largest purchase you will ever make following a house. It’s hard to think about it in that manner, because it suddenly raises the flow of your blood and you begin to think about how important your vehicle is to your assets. Is it well protected?

The law requires that every car on the road is insured. Basic insurance or compulsory insurance only covers any other cars for damage and repairs in an accident that is defined as your fault. If your car is also damaged, the costs will come out of your own pocket.

Most people who have owned a car at one time or another are well aware of the minor details surrounding car insurance, which doesn’t hold true for first time car owners.

When accidents do occur, they are often deadly and tragic. The vehicles are usually demolished and totaled, and if fixable, they will cost a lot of money!

Of course you do not. But people will refer to you as stupid if you go out, are involved in an accident, and now have no means to cover the damages. Now you are walking or biking to work.

However if you are covered by comprehensive car insurance, the damages are covered by the insurance agency.

Insurance premiums are calculated on an annual basis, and should run at around 6% of the replacement value of your car.

If you are buying your first car, this is especially important. Chances are you are young and somewhat inexperienced as a driver. Comprehensive coverage will protect your vehicle from one minor mistake you might make or from theft, especially if your vehicle contains a lot of desirable goods for thieves.

These desirable goods might include radios, disc players, GPS systems, mobile computers, and other expensive items inside or outside the car. Comprehensive car insurance will protect all of that with the right policy.

Car theft happens all the time, as many robbers find radios, disc players, GPS systems, and other items in the car very desirable. Protect your goods with extensive coverage.

Graham McKenzie is the content Syndication Manager at Insurance123.co.za South Africans leading car insurance information portal

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