One of the responsibilities that comes with owning a vehicle is the need to purchase auto insurance to protect yourself and others. Too often, however, people let their coverage lapse because of the cost. This is unwise for a number of reasons. Below is a list of some of the most important reasons you need to insure your vehicle.

5 Reasons You Need Car Insurance

1. It's the Law

North Carolina law requires all vehicles being driven on public roads to be covered by a minimum amount of liability coverage to protect others in the event you are at fault in an accident. You need a minimum of $30,000 of bodily injury liability coverage per person to a per-accident maximum of $60,000, plus an additional $25,000 of property damage coverage. These amounts pay for medical treatments and repairs should you injure someone or damage their property.

2. Your Lender Requires It

If you finance the purchase of a vehicle, your lender will require you to maintain full coverage as long as there is an outstanding loan balance. Full coverage includes collision and comprehensive damages, and protects the bank's investment in your vehicle.

3. Insurance Protects Your Vehicle

Liability coverage only pays for other people's property damage, so to protect your own vehicle, you must buy collision and comprehensive coverage. Collision pays for damages to your car when you're at fault in an accident. Comprehensive coverage pays for non-collision losses caused by named events like fire, flood, vandalism, and theft.

4. It Pays Medical Expenses

Likewise, liability only covers other people's injuries. To protect yourself and your passengers, you'll need to buy medical expense coverage. This pays for hospital stays, surgeries, and even pharmaceuticals in the event that you or a passenger is injured on the road.

5. It Guards Against Uninsured Drivers

Typically, the at-fault driver's auto insurance company must pick up the tab. However, if an at-fault driver injures you and damages your car but does not have enough—or any—insurance to pay for it all, you will be out-of-pocket for the costs unless you have uninsured or underinsured motorist coverage. This pays the amount the other driver's insurance company otherwise would have paid.

Not only is auto insurance mandated by law but your lender requires you to purchase it to cover their interests, and it protects you in a number of different ways. To discuss your coverage options, contact A Better Choice Insurance Agency Inc in Concord, NC. They've been serving Cabarrus County for more than 25 years and specialize in home, auto, business, and life insurance coverage. Visit their website to view a map and office hours or call (704) 782-2073 to speak with an experienced, knowledgeable agent.