As an overly excited sixteen year old, my only thoughts were about my licenses. I remember waking up at 8am dragging my dad out of bed to rush to the DMV. Of course, my dad not being sixteen years old, has absolutely no interest in ever going to the DMV. Being nineteen now, I understand why; it’s only fun to sixteen year olds. Coming from a low income family I did not receive a car on my sixteenth birthday but that did not stop me from smiling cheek to cheek for the magical one-six! It took me until I was seventeen years old to save up enough money to buy my first car. It was a 2001 Saturn L200. To me, it worked and I could officially go where I pleased, when I pleased. When purchasing the vehicle I experienced my first time ever purchasing insurance.
To older people, purchasing insurance is kind of a drag. To someone who is doing it for the first time, it’s the barrier between them and the open highway. Therefore, they will happily write a check using the last penny they have to their name. I learned the importance of having insurance first hand through my own personal experience. With my first car being a pile of metal that thankfully still ran, I only paid for liability insurance. No matter what insurance you have, insurance is important. It’s important for multiple reasons but a very simple answer why insurance is so important to have is because it’s the law.
It has been almost three years since my first accident and I still remember it like it occurred yesterday. May of 2014 I was in a rush to get to class for my math final. I had to pick up a friend who was running late, like she was every morning. Since I was border line hanging on to my A in math, I could not afford to be late to my final. Leaving my neighborhood, I was driving behind my neighbor’s pickup truck. It was an old 1989 work truck. With no one in front of him he began to turn, and with me being a rush I was right behind him. Out of nowhere, for no reason he decided to stop. Me being too close, I could not react in time and we collided. Although I was only going 5 mph he received damage to the rear of his truck. At that point I knew I was in trouble.
I called my dad and my neighbor called the police. A report was filed, stating I was the one at fault. My dad explained to me that my insurance would take a hit, and most likely increase their rate due to the accident but the company would pay for the damage to other man’s vehicle and I did not have to worry about that. Terrified to see what the increase would be I did not even pay attention that I should have been grateful. Thankfully I had insurance and the insurance company would pay for the damage to his vehicle and I was not breaking any serious laws. Yes I would get a ticket but after 3 years it will disappear from my record and my insurance rate will again decrease. Since we both had insurance him and I were covered. Luckily for me my vehicle did not receive any damage. So only having liability did not have a negative effect on me.
Now that I am older and obtain a more stable job I have a nicer car. Since my vehicle is newer I have full coverage in case an accident were to happen. Being from Arizona the importance of insurance is not as spoken of as it may be on the east coast. We do not suffer harsh winters that could bring damage to our vehicles, or hurricanes/flooding that could bring damage to our homes and vehicles. Instead our biggest issue is the possibility of getting into a car accident due to poor driving from one of the two drivers involved.
Although purchasing insurance can be a drag and you may not want to spend that extra money the importance of having insurance is overwhelming. It is there as a precaution because you never know what kind of natural disaster or accident might occur. When/if you are the victim of an accident resulting in damage to your vehicle or home as long as you have insurance you will be covered. Meaning your valuables will be protected and instead of freaking out that you do not have the thousands of dollars it will take to repair what was broke, the insurance company will cover it. This takes away the stress from you and lets you focus on what is really important. Such as that everyone involved is safe and there are no serious injuries. Having insurance companies is a luxury that people should be forever grateful for.
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