Depending on the state you reside in, maintaining minimum auto insurance policy may be mandatory. In Texas, for instance, state laws require that all motorists maintain auto insurance policy. Whether your state mandates auto insurance or not, it is a smart decision to have policy coverage on your vehicles.
Here are six reasons for buying and maintaining auto insurance policy.
If you are like most Americans, you are likely financing your auto purchase through a bank, savings and loans or other financing instruments. These financial institutions require you to buy and maintain maximum coverage of the car until you pay it off. Failing to do is a breach of the loan agreement.
In Texas, as in most states, buying auto insurance is the law. Even then, some drivers still drive without the minimum required coverage. The result is that should those drivers be involved in auto accidents, they do not have coverage for themselves, the other drivers and all vehicles occupants. Buying your comprehensive insurance coverage will cover your and your vehicle occupants against uninsured or under-insured drivers.
Just like uninsured and under-insured motorist protection, most insurance policies provide for medical coverage for the policy holder and all vehicle occupants. That is one of the best reasons for buying auto insurance. Accidents are common on the road and knowing that you and your vehicle occupants are covered gives peace of mind. When an accident happens, insurance companies pay all medical bills as provided for in the insurance policy. Without insurance coverage, you are responsible for all medical bills.
In most states, the law requires all motorists to maintain minimum auto liability insurance coverage. Failing to do could earn you tickets, fines and even jail time not to mention the heartache that results when you become involved in auto accidents.
Protecting your family is non-negotiable. One of the best ways to protect your family is to buy the required auto insurance coverage. Without this coverage you could be exposing yourself and family to financial hardship should you have an accident.
Insurance companies are obligated to pay for your automobile replacement if you buy and maintain comprehensive insurance coverage and are involved in auto accident. Without this coverage, you could find yourself and family without transportation. Depending on your city, that could be very hard on the family. Most cities in Texas, for example, do not have good network of public transportation systems so not owning a car could become inconveniencing very quickly.
In Katy, Texas, we have a network of insurance companies ready to quote the lowest prices on adequate policies. Call us today at 281-398-1010 or complete the insurance quote form and we will get back to you as quickly as possible.