Car insurance is an agreement between the owner of the car and an insurance company that serves to protect your vehicle from unforeseen dangers. It is a security that shields you against a number of financial losses that may incur due to theft, accident, natural disasters and any other damages.
For car owners, it is impossible to do without car insurance in most countries in the world. In Kenya, car insurance is legally required by law in that if one fails to buy insurance for their car and proceeds to use it on public roads, they risk legal action. One may feel burdensome when paying for their car insurance but the reality of the matter is that the benefits of car insurance are greater than its downsides.
The primary reason car insurance is necessary is because it helps reduce financial losses. Any car driven on public roads has potential to get involved in an accident and cause bodily harm and material damage. This makes the person that caused the accident liable. Therefore, to help you have a financial cushion when motor accidents happen, we pay for motor insurance. Without insurance, you could wait for weeks, months or even years for the other party to get money to make payments for the damage caused. A good motor insurance policy may help you with vehicle towing, repairs, total loss etc. As a result, saving a lot of hassle and time and eventually, saves you from huge expenses.
Another reason why car insurance is necessary is because it is a tool that helps protect your investment. Purchasing a car is undoubtedly a big investment. Cars are not cheap and it should therefore be in your interest to buy car insurance to protect your investment. Having a motor insurance policy ensures that if anything happens to your car, you will not have to dig deep in your pockets to pay for the things covered by your insurance policy. For instance, when you have a comprehensive motor insurance policy, it helps cover theft of the vehicle itself, stolen car parts or damage caused by a break-in (such as broken windows or damaged car locks).
Also, having a motor insurance policy protects your passengers and other drivers in case of an accident. If an accident occurs, you want to know you have the right coverage to take care of any property or bodily injury costs that may arise.
In summary, in as much as having car insurance is mandated by law, it is a much needed cover for all drivers to help ease the fallout that comes with accidents.
For any enquiries and more information on motor insurance, feel free to call 0703099120.