21/08/2019 News

INSURANCE FOR YOU BRAND NEW CAR. IS IT NECESSARY?

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Here is a million dollar question frequently asked by someone who’s planning to buy a new car: “Does buying a new car require getting an insurance for the car?”

Once you are ready to drive on public road, it means you are ready with all the risks, such as getting involved with traffic accident or a fender bender. The latter will involve a third party which means extra cost that you have to endure.

 

READ ALSO: COMPLIANCE WITH TRAFFIC LAWS ENSURES PLEASANT AND SAFE TRIPS

 

This extra cost doesn’t have to be a big problem if the car is insured, but there are still many new car owners who hesitate to buy insurance, albeit the benefits coming from its policy. Such benefits include damages caused by sole accidents, while some insurance providers can extend the cover policy to damages incurred to other cars involved in the incident.

To further extent, some policies can also cover damages by other means, from floods to public riots. We usually know this kind of coverage as all-risk or comprehensive policy. Those living in calamity sensitive area will benefit more with this policy.

Now you are intrigued. But what do you need to prepare then? After deciding which policy suits you best, you need to prepare money to pay for the insurance premium. How much can a premium cost depends on different points. Type of policy, vehicle retail price, living area, are among the factors that determine the premium. You can also consider to add the insurance premium to the family financial plan so it won’t be too much a burden once you renew the insurance.

So now you are ready to get an insurance for your newly bought car. Remember to always equip yourself with details on the policy and choose a company that best suits your needs. A preferred insurance company should have a vast network of repair workshops. Choose wisely. And of course, read the fine print of the policy thoroughly.

 

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