Car insurance is not an expense but a saving.

Wed, 16 Dec 2009 03:17:57 +0000

My nephew recently bought a car for the first time. He asked me whether he should insure it as it was only worth $2000. The key problem with car accidents is not what your own car is worth, but what the other car or cars are worth.
A $2000 car can cause millions of dollars worth of damage as easily as simple parking lot accident. So having convinced him of the need for Car Insurance, he asked me how to go about getting it.
I told him to get some Car Insurance Quotes, as rates can vary dramatically. After a couple weeks he rang me to say the car had been involved in a small accident. Thankfully he had taken my advice and had full insurance cover. The other car had to have major repairs and the repairs were going to cost over $15,000.
My nephew only had to pay a small excess and was so relieved that he was not up for the full amount of the repair cost.

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Car insurance is not an expense but a saving.