Insurance Basics: Everything You Need to Know

3 Ways Car Insurance Pays for Itself

Whether you are a younger driver who is getting behind the wheel for the first time or a more experienced one that has been on the road for decades, car insurance is of the utmost importance. Yet because of the expenses involved, many drivers question if maintaining an active policy is actually worth it. Take a look below to discover just a few of the ways that car insurance actually pays for itself over time.

Following the Law

Virtually all states require that drivers purchase car insurance. Even states such as Virginia that do not technically have a set minimum liability coverage still require drivers to pay a hefty fee if they plan to drive uninsured. Should you get into an accident, or are simply pulled over for something as minor as speeding, you can be fined hundreds of dollars, have your license suspended, and even spend time in jail if you cannot prove that you have insurance. The true cost of car insurance, then, pales in comparison to the cost that a driver incurs if they are forced to face these severe consequences.

Saving on Medical Bills

In the unfortunate event that you get into a serious car accident that results in an injury, it quite literally pays to have a comprehensive car insurance policy. Without car insurance, you'll be stuck with a bill for your medical treatment and the treatment of anyone else who was injured in the crash. Such a bill can quickly add up to hundreds of thousands of dollars, and leave you worrying about finances at the worst possible time. Finding a car insurance policy that covers the cost of medical bills in the event of an accident — serious or otherwise — can mean significant savings over the years.

Expenses Not Covered by Health Insurance

There are some who may believe that because they have a great health insurance policy, they don't need to worry about medical expenses incurred after an accident. The unfortunate truth, however, is that many health insurance policies do not cover other related expenses (i.e., emergency dental work) in the event of a car accident. You'll more often than not need an auto insurance policy to cover this. Considering that even one bill from your dentist can easily wipe out an emergency savings account, paying for car insurance becomes an easy decision. 

Reach out to a car insurance company to learn more.