Pros and Cons of Car Insurance

Everything good in life comes with a little bad. Nothing can escape having disadvantages no matter how good its advantages are. When it comes to the pros and cons of car insurance, it’s not any different. Although most people claim that car insurance is a necessary insurance to have, knowing what the cons with regards to it is, is crucial before you make the decision to buy a car insurance plan or not. To find out what some advantages and disadvantages are, read through those below.

Pros and Cons of Car Insurance – The Pros

  1. One Can Replace a Stolen Car – If someone steals your vehicle, most car insurance plans will pay to replace your car. This is a great benefit especially if you know that you won’t be able to afford to buy the same car you had. Just remember to take notpros and cons of car insurancee that you will receive payment for the value of your stolen car – the insurance company won’t buy a brand new one.pros and cons of car insurance
  2. Insurance Against Animal Collision – This is a great benefit if provided by your specific insurance company. Accidents happen fast and unexpectedly and before you know it one has hit an animal. Being able to claim when this happens is a great plus point!
  3. Cover for Damages Caused by Natural Disasters–Whether it be floods, earthquakes, a tornado or any natural disaster you can think of, your insurer is sure to cover it! The pro about this is that one has cover for the damage.

Pros and Cons of Car Insurance – The Cons

  1. High Costs – car insurance does not come cheap. One of the main disadvantages is the high cost associated with it. Once people see the price, they more than often decide against the idea to buy a car insurance plan. Before the cost frightens you, like all other things in life, first give it throughout study and consideration.
  2. Over-Hyped Policies – Most insurance companies oversell their insurance plans. It is only at the point of claiming that the buyer finds out what the cover he or she has. To avoid this from happening, it is always a good idea to read references from other users on the plan that you wish to choose.
  3. Deductibles – Most people are not aware of deductibles. The con about this is that you need to pay the deductible before your insurance company repairs your vehicle. Most people don’t have the funds to fix the car immediately. So their car will stand until it is paid.  People choose an insurer thinking the car would be immediately repaired. Only to find out later, that this is not the case.

If you are still on the fence, whether car insurance is for you or not. Rather do some more in-depth research on the pros and cons of car insurance.  Speaking to a consultant at your chosen car insurance company can also be of great help!

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All info was correct at time of publishing December 16, 2018