14:18 25 November 2012
Having car insurance in the UK is a legal requirement. We are all aware of this, but many of us believe insurance is just a way for the likes of car insurance companies to take our money, as we very rarely chose to rely upon it.
Sometimes the need arises to use our car insurance cover, in the event of an accident or any other problem, but more often than not it is more economically sensible to afford costs on our own rather than to go through our car insurance providers.
This is because we may want to keep the costs down when it comes to renewing car insurance.
However, there are many reasons that we forget about why car insurance premiums are beneficial to us. Here are some of them:
1. It gives peace of mind that you have something in place for if something goes wrong;
this relates to car insurance cover letting you sleep at night because you know that if your car is stolen for example, and you have the appropriate cover, you do not need to awake to the news that you need to start saving from scratch to afford a new car.
2. Car insurance protects you against other motorists; if a situation arises where your car is involved in an accident with another vehicle, whether it is or isn’t your fault, you may not have money set aside for a rainy day. In this event, a car insurance policy can save the day.
Also, if the other driver of the car is not insured, your car insurance will protect you.
3. It prevents you from incurring other costs or penalties; car insurance is a legal requirement in the UK. The money you would save by not paying for car insurance premiums year after year will be far outweighed by the consequences of being caught without a legal and appropriate car insurance policy.
So don’t take the risk, don’t break the law, and don’t leave yourself open to greater costs and penalties by driving your car uninsured.
• A good, safe, low-risk driver will see their car insurance premiums reduce as they get older
• Whereas an individual found guilty of driving with invalid or no car insurance cover, or by applying by for car insurance late in order to save money, will only push them closer to the higher-risk category that car insurance companies apply higher premiums to.
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