GhanaWeb Feature by Sisl Prempeh
No matter how careful people are on the road, accidents and even theft can still happen. These unexpected events can leave people stranded, disrupt their daily routines, and potentially strain their finances.
Now, imagine working with a tight budget for the month or year, and suddenly you are faced with one of these unfortunate situations.
What would you do?
This is why car insurance is not just important but highly advisable for everyone.
Whether your vehicle is undergoing repairs or has been stolen, car insurance steps in to protect you from unexpected and unplanned expenses.
In today’s piece, GhanaWeb Business looks at five key reasons drivers and car owners need car insurance.
1. Protecting your investment
Your car is more than just a mode of transportation; it’s a valuable asset.
Comprehensive car insurance shields you from the financial burden of repairing or replacing your vehicle.
It helps cover these expenses, preventing drivers from facing sudden, out-of-pocket financial burdens.
2. Third-party liability coverage
When accidents happen, they usually involve other road users.
The third-party liability protects you from financial claims made by others for damages caused to their vehicle, property, or even injuries.
This ensures that victims of road accidents can receive compensation for injuries or damages caused by others.
GRA begins 15% VAT on non-life insurance premiums from July 1, 2025
3. Legal backing or compliance with the law
Driving in Ghana without car insurance is illegal, and that can attract penalties and consequently lead to arrests.
But what a valid car insurance does is not that it saves you from the hustle and tussle; you also have the liberty to drive on the road carefully and cautiously without being stopped by authorities.
4. Coverage beyond accidents
A comprehensive car insurance covers beyond accidents and crashes.
It gives protection to all cases, from theft, flooding, storm damage, fire (explosion).
Considering the disaster and the location, if it’s a disaster-prone area, the insurance sees to it all.
5. Peace of mind
The utmost benefit of having car insurance is the peace that comes with it.
Because with the insurance in place, you know your financial stress and frustrations are being sorted out.
Knowing that you are insured, you drive with confidence and in your lane.
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