Owning a car is becoming a necessity rather than a luxury. Compared to the dreads of city commuting, it makes getting around much more convenient. Additionally, car ownership can be a source of income for industrious Filipinos. While many people are aware that cars are significant assets, very few take steps to protect their own vehicles.
You might believe that driving uninsured is OK. But there are several forks, turns, and other unpredictably placed obstacles along the way. After an accident or a natural disaster, having car insurance might assist lower your repair costs.
This article will assist you in comprehending the unfavorable effects of driving without insurance. You’ll also get some knowledge about how to pick the best auto insurance policy along the road.
What Happens If You Don’t Have Car Insurance?
With your required third-party liability insurance, you may already feel some sense of security (CTPL). The government mandates CTPL, and if you get into an accident without having one, you’ll have to pay a fine.
CPTL, on the other hand, is a fundamental insurance plan that solely protects the third party hurt or killed in an accident involving your car. However, the insurance company, which is you, is not protected.
In addition, if your car is not insured in the Philippines, this is what will happen.
You might be prosecuted.
You could be charged with a crime if you are unable to pay for the damage your car has caused. If the accident was caused by your negligence, you could face charges for reckless imprudence leading to property damage.
When an accident victim dies, things get even worse. All of them are undoubtedly more than stressful.
You must pay the Upfront expenses.
If you and your passenger are wounded in an accident, you will have to cover the costs out of your own money. No matter how much it is, it is already a hassle to have to pay for your own accident, which could have been avoided with the correct auto insurance.
Most, if not all, of the costs associated with an automobile accident can be covered by comprehensive auto insurance.
You must pay for pricey auto repairs.
Accidents can also harm your vehicle. If you don’t have insurance to pay the expense of repairs, life will be difficult for you. One of the most frequent effects of driving without auto insurance is this.
Once more, you will be responsible for paying for the costs associated with fixing your car. Just picture how much that would cost. For instance, repairing a front bumper alone can cost several thousand pesos in the Philippines.
You won’t be able to utilize your car any time soon if you don’t have enough money for repairs. There are further repercussions when you drive an automobile that isn’t in good condition.
It could take some time to deal with the aggrieved and impacted third party, particularly if you’re scrambling to come up with the cash to rectify the problem.
However, with the correct auto insurance, it can just take a day to a week to complete tasks (that is if your insurance provider has a very streamlined deployment system).
Please Read: EXPENSIVE CAR PARTS TO REPLACE
Your Company Could Be Affected
Your profits will be impacted if you use your automobile for work (such as carpooling and deliveries). When a machine is malfunctioning, you can’t earn money; it’s similar to a programmer losing his reliable laptop or a baker dealing with a damaged oven.
In summary, driving a car without insurance is unquestionably not worth the trouble and effort it causes.
How to Select the Appropriate Car Insurance for You
There are differences among various types of auto insurance. When choosing the appropriate coverage, you shouldn’t follow a predetermined formula. It’s possible that what has worked for others won’t work for you. In a similar vein, what works for you might not for someone else.
The first step in choosing auto insurance is to determine your needs and priorities. Knowing the different coverage options on the market at the moment is the second step. You already have the required CPTL; therefore, support it with a stronger policy.
The most expensive premium-paying policies may not always be the best for car owners. Think carefully about the hazards you’ll encounter. You can then decide which coverage option is the most economical.
For instance, you might get a policy with coverage for automobile theft if you reside in a high-crime region. Similar insurance policies may cover the costs of repair and replacement caused by the following: vandalism, theft of auto parts, robbery, and kidnapping.
Insurance with Acts of God coverage is a sensible choice if you live in low-lying areas that are vulnerable to flash floods and other typhoon-related events.
Please Read: REASONS FILIPINOS DON’T GET INSURANCE
Make comparisons to find the best Car Insurance Company
Now that there are so many auto insurance companies available, you could feel overwhelmed. There are banks and independent service providers. Don’t just choose the first one you come across.
Find a provider that offers packages that fit your needs and the risks you experience on a daily basis. Additionally, exercising due care will prevent you from dealing with con artists.
Use a comparison tool like MGS Insurance to evaluate rates and policies in order to get the best deal available. Make sure you shop around for the best auto insurance for you by taking the time to compare.
An automobile makes life more simple and can transport you to numerous locations. But keep in mind that the route you’re traveling on is rife with hazards.
You need a shield, in this case a car insurance coverage, to protect oneself from the effects of driving without insurance. Even if you don’t need it right away, are you going to put off getting insurance until something bad happens?
So, if you’re going to inquire as to whether it is acceptable to drive without insurance, Talk to an agent right away to learn the definitive “no” to the question.