Why Auto Insurance Is A Must Have
Does any know the real purpose of having auto insurance and why its illegal to drive a car without it? Another thing, why is it so expensive? Im sure you think it only covers you in case of an accident thats not your fault. Just read up and you will see that there are many things auto insurance does that you have no idea about. I bet you didnt know you can be covered for health care, property damage to almost any car on the streets, and if you have a good company they will cover rental properties and emergency assistance.
Besides the insurance related to collisions and accident, comprehensive coverage can also protect against other unexpected events. These events vary by insurer and of course by policy, but often will cover acts of mischief, vandalism, flood and theft. The purpose of this type of coverage is usually to not only insure the motorist of receiving adequate monies in a time of loss, but also can assure banks with a sound investment when lending money. Many banks will hold a standard of auto insurance on a car loan so that even if a lendee loses the vehicle in an accident or unexpected emergency, the cost of the damages to the vehicle, even if the emergency involves things other than just other motorists.
Auto insurance also has a very controversial coverage known as GAP. This type of insurance covers things that most insurers dont do. This type of coverage will pay the lender the difference of the loan, even if the consumer owes more than the car is worth and the damage to the car exceeds its value.
There is a hidden gem to auto insurance known as uninsured motorist fee which allows us to breathe easier. This fee covers you if you get into an accident with an uninsured motorist if the accident is their fault. To add protection to motorists everywhere and provides a sense of security because you know that your car will be fixed someway.
Auto insurance extends its reach to everyday buisness as well, protecting buisness owners from statistics that would sometimes seem too grim to venture off into. Drivers for trucking companies, delivery companies and other transportation based businesses rely on auto insurance to make sure their job will be worth doing even with the high rate of accidents we have today.
Its no secret that auto insurance is expensive. One way to bring down the price of insurance is by being a good driver. Next time you find yourself all alone and think about speeding, dont do it unless you want to pay extra money for your insurance. The insurance companies reward those of us who drive in a responsible manner and discourage the more aggressive driving out there.
The final purpose of auto insurance is to discourage lavished and unreasonable automobiles. Let’s face it, if you have a half million dollar car, someone hasto insure it. So if you can’t afford the few thousand dollar payment every month for that kind of vehicle, you probably wont even think about buying it. In a way this makes things more practice for new drivers to get less expensive, more timid cars. The safety rating as well as the make and model of the car can make a tremendous difference on the payment amount for insurance. This makes auto insurance a reality check for those of us who just want that really fast car to go…. really fast!
In conclusion, auto insurance servers many purposes in specific instances. The most important fact is that auto insurance allows us to operate a vehicle on a normal basis without wondering how we will pay for our vehicle if an emergency arises, and how we will pay for hospital bills if need be. Auto insurance can give motorists peace of mind, although it will sometimes be at quite a novel price.
Before you get an auto insurance quote online, make sure you check out Jerry Dodd’s excellent site on auto insurance and female car insurance quote.
“Why is it unconstitutional to require we buy health insurance if we are required to buy auto insurance?”
As much as I am in favor of socializing health care, I have trouble with this question. First, we are only required to buy auto insurance on a state level, not a federal one (no auto insurance required in New Hampshire for instance). Secondly, and perhaps more importantly, one are only required to have auto insurance in order to have the privilege of driving, which is different than having to buy health insurance for being alive.
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Eric Lupher of the Citizens Research Council of Michigan has conducted extensive research on shared service agreements. There are several publications available at their website on how local governments can proceed in this area. Local officials would be wise to look at his work. Property taxes are a big problem in the City of Detroit. As of 2008, residential property was taxed at 65.6228 mills, considerably higher than the 42.7661 average for Wayne County communities. Homeowners in the City, many at or near the poverty level, struggle each and every year to pay their property taxes and many simply don't have the money to pay them. Thus, there is a growing number of homeowners who are living in tax delinquent properties and awaiting the inevitability of foreclosure. The high millage also reduces house values. Along with other high costs of living in the City (auto insurance, homeowner's insurance, income tax if you work there), the City is simply not competitive with surrounding communities, and residents vote with their feet and leave. Cutting the millage is the most direct solution, but the City is broke.
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