5 Reasons Why You Need Car Insurance In Canada
Here in this blog we have listed the top five reasons why having a good car insurance is important. Keep reading to know more.
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A car can make life easier and more comfortable. But they do come at a cost, and sometimes they can burn a hole in your pocket! Now imagine what if you just had a fender bender and cannot afford the repairs? Or did your car get damaged because of poor weather?
These circumstances can put you and your family in jeopardy. To avoid this, you need to get car insurance right away. Here is a quick list of five reasons you should add car insurance to your must-have list.
What is the Car Insurance Law?
Having car insurance is mandatory by law in Canada. Not having one may cause a suspension of your driver’s license, and your vehicle seized.
Drivers in Ontario can face fines ranging from $5,000 to $50,000 if they do not have active auto insurance.
Do not have to pay to repair your car or other vehicles if it is damaged
What if your automobile causes damage to other automobiles in an accident? In that case, not having insurance means paying out of pocket. So, it is best to have insurance that covers the cost of damages to your car and the cost of damages to another vehicle or injuries to other people.
Pay now, save later
Investing a small amount can help you secure yourself and your family. It saves you from unexpected expenses. Insurance costs differ from one company to another, so you will have to do some research to figure out which one provides the best coverage.
Coverage is the maximum amount you can get from the insurance company. You need to file a claim for damage due to an accident if your insurance company covers it. Liability insurance, accident benefits/bodily injury insurance, and collision insurance are insurance coverages that can help you cover the claims.
Peace of mind
A minor lapse of judgment can cost us extra. What happens if someone crashes into your car out of nowhere and wrecks your car? If you have the right car insurance, you can stay assured that your insurance will cover you even if an uninsured driver hits you.
Additional voluntary insurance
You can also opt to buy optional insurance coverage, also known as a rider or an endorsement. You can purchase the insurance to cover certain other expenses, such as
- Renting a car
- Using alternate transportation while you sent it to the garage for repairs
- Emergency roadside help
- Repairing the damages caused to a rental car
Life is a roller-coaster ride, and it has its difficulties. We all experience different situations, which require us to have the best insurance policy. Cars not only give us the freedom of mobility with ease but provide us a sense of comfort and security too. And car insurance hedges you from any unexpected situation.
Are you still confused about whether you should buy a car or hire it? Have a look at the next read on “What is better for Canadians – leasing a car or buying it.”
