What You Need to Know about Senior Travel Insurance

Why do we need insurance for our vehicle?

In this article, we will talk about something that is important to everyone, which is Can you tell me why we need to insure your car?

Driving a vehicle is not a luxury, but a major responsibility. Even many people consider driving to be a status symbol, especially in a country like the Philippines where people believe in showing off. With rising income levels, owning a car is not a big deal these days, and people can easily afford bicycles and cars. Not only does it portray a society's status, but it also increases mobility, which saves time. Driving also eliminates reliance on public transportation.

It's true that driving makes our lives comfortable, but it also pushes us into dangerous lives. Someone is right, "The road ends in the cemetery". In the name of showing off, people not only put their own lives at risk but also injure others by speeding their vehicles. Daily reports of accidents, and deaths in the newspapers, are now commonplace. People die in road accidents for breaking traffic rules and driving ethics, and they also put the lives of others at risk. Plus, spare parts costs and high repair costs can squeeze your pocket, proving that having a good car insurance policy is critical these days.

Car insurance is mainly purchased for vehicles that are driven on the road and the main purpose is to protect the vehicle and the driver from any personal injury in the event of an accident. There are many factors that go into buying a motor

Insurance is important:

Legal Enforcement: 

The number one reason to buy auto insurance is legal enforcement. Third-party insurance is mandatory under motor vehicle laws. The police have the right to inspect your vehicle documents such as PUC, permits, and insurance policies at any time. If you can't provide documentation, you're in trouble. Therefore, it is recommended that you purchase Car insurance before hitting the road.

Loss and Damage to Vehicles: 

People are known to have no awareness of driving at all, and with the way traffic is managed in our country, there is hardly a day without a crash causing damage. The main reason to buy car insurance is that it covers expenses incurred due to loss or damage to your vehicle. So, it's best to stay safe and get auto insurance before riding a bike or car on the road.

Reduce your liability: 

Third-Party Liability (TPL) Car insurance is mandatory in the Philippines and it protects you from the legal implications of an accident you cause. TPL means that if you cause damage to other people and their property in an accident, insurance will pay for their treatment and shield you from legal liability.

Hospitalization: 

Not every car owner is lucky enough to receive several cuts and bruises in an accident. Some accidents get you into trouble and you need to be hospitalized. In this case, your auto insurance company will pay for your hospital stay rather than out-of-pocket for high hospitalization and treatment costs.

Compensation for family members after death: 

Some traffic accidents are so terrible that they even cause the death of the car owner, which is the most unfortunate result of a traffic accident. Once the breadwinner of the policyholder dies, it is difficult for his/her family to meet their daily needs. Therefore, a car insurance policy helps families cover the cost after any unfortunate event.