The Importance of Car Insurance NZ
The Ministry of Transport reports that just over 92% of drivers in New Zealand carry vehicle insurance on their automobiles. Are you one of those people? Car insurance NZ isn’t required by law, though it is recommended that drivers carry some form of third-party liability coverage at all times. Without car insurance NZ, the financial burdens of an at-fault automobile accident can turn your life upside down.
Property Damage Costs
Although the Accident Corporation Fund pays medical bills associated with injuries resulting from an accident, you’re responsible for costs of damages to property, including the vehicles involved in the crash. Each accident is different, as is the amount of damage sustained in the crash. The fact that property damage can accrue to overwhelming amounts of money that the average person cannot afford to fork over is true of all auto accidents.
I Can’t Afford Car Insurance
Of those who don’t carry car insurance NZ, many reported costs are the reason for the lack of coverage. It is true that rates for coverage are more expensive here than in many other areas of the world. Car insurance rates are based upon several factors, including the vehicle being insured and the age of the driver. Younger drivers pay considerably more to insure their vehicles. The average cost of an insured vehicle in New Zealand is $600 – $1100 annually. These rates apply to those over the age of 25. Reducing costs of coverage is possible when comparisons are made. There’s no cost or obligation to compare; most people request estimates and complete the task online. Comparing has the potential to save as much as 65% on car insurance NZ; make sure comparisons are made.
Benefits of Car Insurance NZ
The most obvious benefit of insuring your vehicle is the financial relief that it offers should you be involved in an at-fault accident. Unless money is no object, covering the thousands of dollars in property damage expense after an accident isn’t likely something you can do comfortably. Insurance alleviates that need while providing you with peace of mind and assurance every time you’re behind the wheel of a vehicle. You won’t endure life-altering financial trouble when car insurance NZ is in place. Plus, you’ll drive with confidence whether you’re traveling down the road or cross the country.