Vehicle Insurance – Why It Is So Important To Own

Posted by admin

July 9, 2009

Driving any sort of vehicle without insurance is not only against the law but it could wipe you out financially. Despite this, around one in ten UK and US drivers are still on our roads without it and put everyone around them at risk. Below are some of the most common problems that you will encounter should you defy the law and use your vehicle without getting it covered first.

Penalties. If you get found without insurance there are a number of different penalty options that you can have thrown at you depending on where you are driving. You can get points of your license which will affect your future insurance premiums and may even affect what jobs you can do. The majority of driving jobs for example stipulate that your licence needs to be clean. You will probably get a fine as well, which is likely to be pretty steep and definitely more than it would have cost you to get insurance in the first place. If you are an employer and you don’t have lets say business vans insurance for instance, you may even lose your whole fleet of vehicles.

Damage. If you are unlucky enough to have an accident and your vehicle is not covered by insurance, you will soon know about how expensive vehicle damage is. Not only will have to pay for any damage done to your own vehicle but if the accident was your fault, you could be paying the costs for a number of other vehicles. People can also be charged for damage to the road, signs and even damaged trees.

Medical expenses. If the worst case scenario takes place and either yourself of someone else gets injured by your uninsured vehicle, the costs could be even steeper. Medical fees have a tendency to increase quite dramatically over time and you can continue to pay for months and years after the incident for various on going treatment such as counselling and physiotherapy. At the end of the day it is really a lot cheaper to get insurance in the first place, as opposed to facing the inevitable fees

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