Why keep auto insurance during the crisis? Understand!

With the country's financial crisis, the rule is to cut costs, but many people end up doing this without thinking carefully and the consequences can be bad. Many people end up choosing to cancel their car insurance to pay their bills, but this may be more expensive than planned.

A fact that may surprise many people is that from January to July, the insurance sector's revenue grew 16% compared to the same period of the previous year. This information was released by the Union of Insurance Brokers in the State of São Paulo and disregarded the health insurance sector.

This shows that even in times of crisis, people remain interested in preserving their assets and end up opting for insurance to do so, even though 70% of the population still does not have vehicle insurance. This is because when you have insurance in the event of an accident you can contact the insurance company and therefore you do not have to pay the full costs.

Even if the insurance amount represents a portion of the budget, it is often worth considering redoing the calculations to maintain it. However, if there is no longer any way and you need to cancel it, a tip is to always have some spare money in case you need it, after all, the entire bill will fall to the vehicle owner.

Reasons to keep insurance

• The insurance value represents 5% to 10% of the car's value, which is much cheaper than having to replace the entire vehicle.
• If the car is your main means of transport, think about what your routine would be like without it. Would it be possible to do all your tasks in the same time and with the same convenience?
• The car has a very high cost and in the event of damage, the losses could be quite high and it could take a long time to repair them.
• The number of robberies and vehicle thefts has only increased, so much so that in 2014 the growth rate was 10% according to the National Confederation of Insurance Companies. Because of this, cars are increasingly at risk.
• In cases of repairs, parts may be missing and they may take a long time to be replaced. When you have car insurance, you can often count on a spare car for these situations.
• No matter how careful you are in traffic, it doesn't mean that everyone is and that's why collisions can occur. And even if it's not your fault, the loss could end up being all yours if the other person runs away and doesn't take responsibility.