Buying a public motor vehicle (PMV) is a big decision, and one that most people plan and save up for. The best way to protect your purchase is with a trustworthy motor vehicle insurance policy.
In many cases, a PMV insurance policy is required in order for drivers to be approved for financing to help purchase a car. However, this is just one reason among many that people should invest in a policy to protect their vehicle purchase.
Here are five situations where car insurance will be a big help:
1. You get into a car accident
Unfortunately, car accidents can happen at any time, even to the most careful of drivers.
Accidents can result in extensive damage to your vehicle or serious injury to yourself or the passengers in your PMV. In other words, a car accident can become very costly, very quickly.
Your motor vehicle insurance policy can help you cover the cost of repairing or replacing your vehicle so you don't have to use your personal savings. Depending on the policy you choose, it may cover medical expenses for yourself and your passengers related to the accident as well.
2. Your PMV gets damaged because of bad weather
The weather in Papua New Guinea can be unpredictable and hazardous, especially during the rainy season. Earthquakes, severe storms and other natural events can cause damage to your PMV. In other cases, these events can lead to unsafe road conditions, including potholes and localised flooding.
Your car insurance policy will help pay for the repairs your PMV may need as a result of severe weather events.
3. You damage someone else's property
If you damage another person's vehicle or other personal property, you'll be held responsible for the repairs. If someone gets physically hurt, you may have to pay for medical treatment as well. An insurance policy will help you out with these financial obligations.
4. Your PMV gets stolen
Having your vehicle stolen can feel devastating. Unfortunately, car-jacking is a common occurrence in PNG, especially in highly populated areas like Lae and Port Moresby.
But, with an insurance policy, the money you spent on your vehicle will not be a waste. Your policy will help you replace the vehicle.
5. Your PMV is broken into
Criminals may not steal your vehicle, but they could break into it and swipe your personal property from inside. You can reduce the likelihood of this happening by locking your doors, closing the windows and using a car alarm.
However, opportunistic thieves can still find ways to enter your motor vehicle to steal your things, such as by smashing the windows or windshield. Your insurance policy will help you repair or replace those items so your PMV is safe to drive.
Insurance protects your PMV purchase
You never know when something bad will happen to your vehicle. An insurance policy can help you recover from many of the challenges you may face as a car owner. To learn more about your car insurance policy options, contact Trans Pacific Assurance Limited for a free quote.