When it comes to family, some things are non-negotiable. One of these things is safety. No matter if they’re child-proofing the entire house, or if they’re teaching their little munchkins to cross the street, parents tend to have quite stressful time bringing up their children and ensuring their family is safe and sound. Don’t worry, stressing out is what parents do.
Speaking of, have you insured your car in order to provide proper coverage for your family, yourself, and your assets? Car insurance is imperative in these uncertain times, and along with protecting your interests when a traffic accident occurs, you also want to make sure all vehicle damage expenses are covered, just in case. With that in mind, here is how to choose the best car insurance for your family.
Do you need insurance and why?
Quite succinctly, yes, you need car insurance, and for a number of reasons. For one, the law requires it, and two, it could end up saving you from severe financial setbacks should you cause an accident or get hit by another car. Even if you don’t drive the car, you still need to have the minimal coverage available, which is usually third party insurance.
No matter how much you might refrain from driving, or think that owning a car is a waste of money, the hectic modern lifestyle requires parents to have a transportation vehicle at the ready, at least for emergencies. After all, you can never be too cautious when you have children. This is why finding the ideal insurance package for your needs will be essential. Even if you have a car that is not road worthy, you should still have something called SORN car insurance to have your vehicle fully protected. It would be a good idea to visit website of a provider like Insurance Cloud to see what SORN is and why you will need it. Insurance covers multiple different areas, so just because something isn’t working at the moment does not mean you should neglect taking care of it.
Third party car insurance
The most basic coverage you can get is third party insurance, which will cover other people but not yourself in case of an accident in which someone is injured or your property is damaged. While third party insurance does have its purpose, it does have certain disadvantages that make it cheaper.
For one, third party insurance does not offer coverage in case of intentional or accidental damage, damage due to environmental conditions such as flooding, earthquakes, or fire, nor will it cover lost car contents or the necessary repairs and towing costs following an accident. Needless to say, no family budget should ever suffer such a blow.
Third party, fire, and theft
The second, more favorable option is an extended version of the third party insurance, adding fire and theft coverage to the package. Still, when considering whether comprehensive or third party insurance is best, comprehensive insurance tends to come out on top as the ideal solution for families.
That said, third party, fire, and theft insurance will also cover towing costs, emergency repairs, and the contents inside the vehicle, while also insuring against natural hazards such as earthquakes. Keep in mind that accidental or intentional damage scenarios are not covered in this package.
Comprehensive insurance
As the name implies, comprehensive car insurance is designed to offer the maximum level of financial coverage against a wide range of scenarios. From all environmental hazards, accidental and intentional damage, theft, fire, car additions and contents, all the way to emergency accommodation, repairs, and towing, comprehensive insurance has got you and your family covered.
That said, these packages do tend to come with a higher price tag, so you should plan your finances carefully and work this expenditure into your family budget so that it doesn’t affect your livelihood and monthly cash flow. Remember that one of the biggest benefits of this type of a plan is that you’re insured even if you caused the accident.
Check for additional coverage
Last but not least, it’s important to remember that not every insurance package, even if it’s the same type of policy, will cover the same scenarios, so you need to read the agreement carefully in order to understand what you’re actually entitled to.
You want to check if your car’s sat-nav systems, the stereo and speakers, your personal belongings, windscreens and car keys are covered, and whether or not your policy covers vehicle recovery, towing, and transportation. Given the fact that not all insurance companies work the same way, you want to inspect your policy thoroughly.
For any parent, family safety should be no.1 concern, and oftentimes the level car insurance can be neglected in favor of other more “pressing” matters. Now that you understand the options at your disposal and that you have a clear grasp of the importance of proper car insurance, you can go ahead and tick yet another box on the family safety and security checklist.