Nowadays, having automobile insurance is not only a sign of responsibility, it is an investment that allows you to have financial support in the face of unexpected situations and that also safeguards your well-being, that of yours and third parties in the event of any Sinister.
On many occasions, people have a wrong image of insurance, perhaps because they are services that, beyond using them or not, have to be paid for.
It is important that you know that the Federal Roads, Bridges and Motor Transport Law indicates that all vehicles that travel on federal roads, roads and bridges must gradually have Compulsory Vehicle Civil Liability Insurance. This must guarantee that it covers the damages that could be caused to third parties due to an accident. Driving without this insurance could earn you a fine.
What happens if I crash and I don’t have insurance?
First of all, if you crash and you do not have car insurance, if it is your fault, you must take charge of your damages and those of the other car involved. Even if the other driver has an insurance policy, it does not mean that you will have escaped paying for the damages you have incurred.
If the accident was your fault, the insurance company is within its rights to charge you in full for the cost of any auto repairs or medical expenses that its client requires. The deductible is a benefit that is only granted to the insured, and the insurance pays only when your insured was the one that caused the accident, unless your policy says otherwise.
The adjuster of the other vehicle will be in charge of negotiating with you before going to legal instances. Once the damage has been evaluated, they will ask you for the amount of money equivalent to the cost of repairing the crashed car.
If you do not agree with the amount requested by the adjuster, or if you do not have the money at that time, they must be transferred to a Civic Judge, as if neither of them were insured.
In this case, you must hire the services of a lawyer to handle your case until the judge issues a decision. If you have questions about a specific case, you can schedule a half-hour telephone consultation with a certified lawyer here.
Although each federal entity has its specific legislation and criteria, the disbursement that you would have to make to compensate the damages can range from 310,000 to almost 5 million pesos in the case of serious accidents and death by accident, according to what is ruled by the local judge.
Why should I insure my car?
For many people who consider themselves excellent drivers, auto insurance is not a concern. However, remember that being a good driver does not ensure that you get rid of any distraction you have, such as talking on your cell phone, or that others behind the wheel can cause you an accident.
There are insurances designed for all types of pockets, the important thing is to find the product that best meets your needs.
By having insurance, in the event of an accident, you will not have to worry about getting money to repair the damage caused, but your insurance will take care of making the payment for you. And in case your car is totaled, you can pay a deductible, a situation that without insurance is impossible.
What types of coverage are there if I want to insure my car?
The most common coverages are: comprehensive, limited and civil liability, but the exact characteristics of each one depend on the insurer with which you contract.
Before acquiring insurance of any kind, it is important to know what are the benefits offered by the insurer with whom you wish to contract it, the scope of coverage and what are the general conditions that govern the product.
8 recommendations when buying car insurance:
- Compare the prices, legal services and additional products offered by different insurers, as well as the conditions established to make the insurance valid.
- According to your income, select the policy that best suits your possibilities.
- For the insurance quote, particularities of each vehicle are taken into account such as: age, make and model of the unit, type of coverage, age of the driver, etc.
- Do not sign any blank page, read the contract in detail and check the cases or claims foreseen, the clauses and all the exclusions.
- Remember that if you fall behind in your payments, the insurer will cancel the coverage immediately and in the event of an accident you will be left unprotected.
- Verify that your policy contains all the elements that were offered to you when hiring.
- Check that the insurer is duly authorized.
- Check in your policy that all the information is correct: name and address of both the insured and the insurance institution, policy number, description of the vehicle, contracted coverage, amount of coverage, sum insured, deductible, validity and method of payment.