Car Insurance – A Load Off Your Shoulders

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According to statistics, South Africa has hundreds of motor vehicle accidents per day. These accidents can range from major to minor. About 30% of vehicles on the roads are not insured. With 32 people dying every day on the roads, it is almost a metaphorical relief to have your accident deemed minor. This is until you get quoted the tow truck release and panel beating repair costs.

You can repair a dent or scratch on your vehicle. This amount is almost impossible to access. To get their car back in good condition, one would need to save money for months or use their credit card to pay the cost.

If any of these options are even possible, it would mean that you’d have to spend a significant amount every month on your budget.

It is almost a mistake to fail to insure your vehicle every month for a reasonable amount. Many people believe that car insurance is too expensive. The monthly cost of insurance can fluctuate as quickly as the interest rate. These people may believe that it will never happen to them, or that if it does it will be something they can ‘deal with when it happens’.

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The statistics can help us understand the former. If there are so many motor vehicle accidents every day, then the chances of becoming one of those statistics are high. It is also important to remember that many accidents are caused by the “other driver”. What happens if the “other driver” doesn’t have insurance? There is no money to fix your vehicle. Then, who will pay for the repairs to your vehicle? It doesn’t really matter how good you drive, it can happen to anyone.

Concerning the mentality of people who will “deal with it when it comes”, I wanted to tell the story of an unfortunate man in a film I just watched:

The man was in a car accident that caused him to lose his wife and their child. A week later, he wakes up from severe concussion and is told that his wife was killed in the accident.

When he returns home, he becomes absorbed in the realization that he has lost. His lawyer explains to him that the grieving man is responsible for the accident in which another vehicle was involved and he is responsible therefore for all damages. The unfortunate thing is that the grieving man didn’t have insurance and must immediately sell his most precious and treasured assets to pay for the accident costs.

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This unexpected turn of events proved to be almost too much for the grieving man.

He lost the two most important people in his family, and had to endure lengthy court cases and unneeded insurance hearings.

It is clear that car insurance has many benefits. Although it may be difficult to budget for, the cost of car insurance is not an unreasonable expense. It is a small price for the assurance that you will be protected in the event of someone else’s fault.