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27. The Importance of Auto Insurance

Auto insurance is necessary because it is a legal requirement. If you carry the correct level of coverage, then you receive financial protection against damage to your vehicle. Your policy can also cover injuries to passengers, pedestrians, or other drivers and their property too.

It may seem like an unnecessary expense if you never file an auto insurance claim, but you never know when an accident might happen. Having a policy is reassuring because you know that you are financially protected if one should occur.

Even if you purchase auto insurance with a high deductible, an active policy will provide you with several benefits while protecting you against a potentially expensive accident.

Benefits of Auto Insurance

Auto insurance will cover your expenses if you experience property damage or injuries. Most jurisdictions require that your policy include liability terms to protect others. It can also offer financial support if your car is stolen, destroyed by water or fire, or receives vandalization damage with comprehensive coverage.

If you do not have auto insurance, then you might be subject to a fine or risk having your license revoked. You would also be 100% responsible for any damage or injuries that you cause during an accident.

There are several extras you can add to your auto insurance as well. Roadside assistance, violation and accident forgiveness, or rental insurance may be possible through your provider. You can also cover specific items on your vehicle that a standard policy might not cover.

Auto insurance is vital because it gives you options at a time of loss. You will want to speak with your agent or representative today to see what coverage is helpful in your situation.

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