Today, in our country, there are several types of motor third party liability insurance. It is carried out in a mandatory and voluntary form. If every motorist must have a compulsory insurance policy, then voluntary insurance policies are purchased by drivers at will. That is why, when considering the positive and negative aspects of car insurance, you should pay attention to the two most common forms of car insurance. And if, after reading this article, you decide to get insurance, visit www.general.com.
Pros and Cons of Compulsory Insurances
By law, every car owner must insure his vehicle in case of an accident or other unforeseen situation. The absence of an insurance policy is a violation and entails penalties. Therefore, even if the insurance policy increases in price, motorists will still have to buy it.
The main advantage of compulsory motor liability insurance is that if you are involved in a traffic accident and are not the culprit, the insurance will allow you to receive certain insurance benefits. In this case, with a high degree of probability, you will receive this money in a fairly short time. In case of delay in payments, the insurance company will be obliged to pay you a penalty in the amount of several percents of the amount for each day of delay.
The disadvantages of this type of insurance include the fact that if you own an expensive car, then the limit of insurance payments will not be enough to compensate you in case of serious damage as a result of a traffic accident.
A fairly significant minus can be attributed to the fact that compulsory insurance will rise in price more. And if drivers with long experience and a good driving coefficient can somehow save themselves, then novice drivers pay for compulsory motor liability insurance a full price. But the positive side is that the amount you can get also rises.
Pros and Cons of Voluntary Insurance
The situation with voluntary car insurance is somewhat simpler. By choosing this insurance option, car owners get a slightly higher level of protection. The fact is that car owners receive payments in any case, even if they are the culprit of a traffic accident. Many insurance companies providing insurance services cooperate with car repair shops, which allows quick repair of the damaged car. However, the prices for such insurance are quite high, so each car owner can personally compare all the pros and cons of this type of insurance. Most often, owners of expensive cars resort to this type of insurance.
Often, novice car owners have a negative attitude toward the possibility of voluntary insurance. However, according to statistics, it is novice motorists who often get into accidents. And after the first accident, the attitude of car owners towards this insurance changes. Especially often, such a change of mood occurs in the case of an accident with a car, the cost of repair of which, as a rule, exceeds the limit of payments provided by compulsory motor liability insurance.
