First and foremost, it should be noted that by law, each and every car needs to be insured and as a matter of fact, where you have the right insurance cover, you will stand quite well protected financially against any losses should it happen to be that your car gets damaged by any reason so covered. Besides the protection that the cover has for you as a car owner, it as well serves to protect the other drivers, pedestrians, passengers and their property against the financial loss and injuries that may be caused to them by the happening of an accident caused by you. It is to be noted that the eventuality of suffering an accident is a real one and as such as a motorist, you need to have the assurance that you are well covered in the case that this comes to happen.
The laws clearly stipulate in the various state’s traffic acts that all motorists must be insured. The other risks that happen to be covered by car insurance policies is that of theft and as such this makes car insurance all the more necessary for a motorist as they will have some solid financial backing in the event that their cars are stolen. Insurance as well happens to be relevant looking at the fact that as a car owner you will have your car well covered against some of the other risks such as vandalism and destruction by fire.
Nonetheless, there are some cases where you will not have to insure your car. Examples of such cases are as those where you have declared your vehicle to be off the road such as that done under the statutory off the road notification.
In the event that you happen to be driving your car without insurance, this actually portends a lot of risks to you as a motorist.
Business owners as well need to appreciate the need for workers compensation insurance as well. Workers compensation insurance provides for both medical and lost time benefits to employees for an injury or a disease that they may have contracted while in their lines of duty. Note the fact that state laws actually make it a must for every business owner to make sure that they have provided for the worker’s compensation insurance, as well known as workman’s comp insurance, in order for them to remain compliant to the laws, federal and state laws.
You need to be aware of the fact that there are a number of risks that your business happens to be facing and as such there is as well the need to ensure that you have put in place measures to ensure that your business establishment is well protected from such risks.