The Risk You Take By Not Having Car Insurance
January 14, 2017
Running the risk of not having car insurance. Is a precarious decision for any driver to make. Since car insurance is not compulsory in South Africa, the possession rates have always been low. Most people admit to not having car insurance mainly due to a lack of funds and them never having been in an accident and thus thinking that one could not happen to them. Still, car insurance is crucial. Read below and reconsider getting car insurance.
Some things to consider when taking the risk of not having car insurance
Damage to your car from unexpected events will have to come out of pocket. Your vehicle could become a victim of theft or natural damage. Massive losses can occur due to these unplanned events taking place when you don’t have funds available to cover the expenses involved with repairs of the damage caused. A lack of funds for this alone can lead to even bigger speed bumps, and it’s best to avoid it from the start.
If you are involved in a car crash, you could personally be held liable for third party claims if you have no car insurance. This could lead to much more than just compensating the other driver. Some cases even end up in court, and you will then have tonnes of added expenses that need to get covered!
If none of the involving parties has insurance excluding from car repair, no medical cost will be paid for. Health care is very expensive yet crucial. The same goes for car insurance. Having comprehensive car insurance can help alleviate the strain of the costs.
Transport with the risk of not having car insurance
Lack of personal funds
The scenario where you don’t have a car after an accident is not highly unlikely. Which means your day to day commute just got a bit more complicated. Unless you can immediately pay for repairs, you are going to take the bus for a while.
Then again, with a good car insurance company, this wouldn’t be a problem. While your car isn’t in a driving condition. Most companies borrow you a tempory car. Serious accidents can leave you on the edge of bankruptcy because of medical expenses, lawsuits and car repairs. Don’t let that happen to you, protect yourself with car insurance.
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All info was correct at time of publishing