The history of insurance started way back in the year ancient era. Indemnification, way back then, was an agreement of mutual aid. If a family’s house gets destroyed, the neighbors are committed to helping rebuild it. There are also what they called “Public Granaries” that indemnify against famines in the future.
As time and years transcend, so does the development of the economy. Insurances are also part of the expansion. These protections’ coverage is for modern businesses’ risk, including cargo, property, death, automobile accidents, and medical treatment.
These are significant investments that one must apply for to ensure any immediate fiscals against forthcoming incidences.
These days an individual must have a stable job with enough salary to survive the race of the 21st century. As we know, life is not easy – most significantly when one lacks the money to pay and purchase any regular human being’s needs. For this reason, working alone is not enough. You ought to have investments to have other sorts of revenue in case of emergencies.
This situation is also similar to owning a vehicle. Finally, purchasing that car you have always been dreaming of is, indeed, a sigh of relief. Maintenance is the crucial factor in keeping the durability, strength, and beauty of the automobile.
Unfortunately, no matter how much you provide the preservation that your car needs and how safe you are driving in the roadway, accidents still occur. This saddening reality is already a standard scenario every single day within the highway. Given that, not all motorists are providing proper treatment to their car and abiding by the road rules.
Thus, car insurance is mandatory that automobile companies are requiring car owners to invest.
What will happen if an individual neglects to pay for their car insurance?
iChoose.PH, a known Car Insurance in Las Piñas company that provides both home fire insurance PH and car insurance PH, created an infographic with all the lists of consequences: