We all know that accidents happen, yet we naively seem to think they’ll never happen to us, which can be a rude awakening if they do, as at some point in our lives we will have to face the challenging crisis of a car crash.
Fortunately, the majority of road traffic accidents aren’t serious – they’re often a little bump in the car park that involve an overnight stay in an auto repair shop rather than an overnight stay in hospital.
This leads on to the importance of having an insurance safety net, as whilst insurance is a basic legal requirement in most countries for drivers, it’s also there to protect you financially, should you have an accident. Indeed, it’s not there just to protect your asset in terms of the car itself, it’s there to ensure if you hurt someone else, as an example by hitting a pedestrian that the insurance company will step in to shoulder the financial burden of representing you in court.
It’s therefore important to have this safety net, yet the safety net of insurance should not be limited to you car; indeed, sometime the mobile devices we carry around each and every day are worth more than our car, yet we take them for granted, and often don’t have the safety net of insurance.
We’ve established the importance of car insurance, and it’s important to note that this isn’t just protecting you from having an accident – it’s protecting you from bad drivers who have an accident that involves your vehicle.
The one thing with car insurance that we must consider is how tempting it can be to misrepresent out position, such as saying the car is in a locked garage when in fact it’s parked on the street – but whilst this might save a little money on the premium, it often proves to be a false economy, as when making a claim, the insurer will understandably check up on the facts you provided; and if there is misrepresentation they will most likely deny the claim and potentially cancel your insurance… all for something as trivial as where you park or don’t park your car at home.
Now, when it comes to your home, insurance is a great safety net, but prevention is often better than cure as one of the best ways to protect the safety of your home, and the people that live within it, is to install a sophisticated smoke detector and fire alarm.
Then, there is the increasingly popular and necessary option of gadget insurance, which covers precious items such as our smartphones, tablets and laptops.
In reality, we take these items everywhere we go yet we have a naive and misplaced trust, that nothing bad can happen to these fragile devices – yet, all it takes is a sudden brake of the car with your phone sat on the passenger’s seat next to you, to send it flying to the point of smashing the screen.
In summary, insurance is a great safety net that we should all utilise.