According to Forbes, car insurance companies expect their drivers to file a claim once every 18 years or so. That doesn't mean you only need to worry about getting into an accident once every two decades, because most accidents are not reported. Eighteen years is the frequency at which accidents worth filing a claim for take place. If you include every fender bender, broken window or taillight, accidents are far more frequent than that.
Statistically speaking, most of us will get into an accident at some time in the future. Not all of us will be involved in a serious accident, but the exemptions of that eighteen-year estimate are outliers.
If you're an excellent driver, you live in a safe neighborhood with very little traffic, you don't spend a lot of time on the road and you're lucky, you might live your whole life without ever being involved in a collision. But that's not something worth betting on, because it's not entirely in your control.
There's no telling when someone is going to change lanes without looking. There's no telling when someone else's car is going to malfunction at a critical moment. And even if you are never involved in a traffic collision, there are other hazards to worry about — such as theft, vandalism and natural disasters.
You don't want to have to file a claim on your auto insurance. As such, you might take every reasonable step to make sure that you never have to. But, statistically speaking, it's going to happen to most of us someday.
This is why it's important not to settle for the legal minimum of protection on your car insurance. The legal minimum only allows you moderate limits for liability. It doesn't cover your end in an accident. And it won't repair a damaged car or replace one that's been totaled.
Of course, statistics are about likelihood, not guarantee. Luckily, so is insurance. With full coverage, you're not protecting yourself against something that might happen. Instead, you’re protecting yourself against something that is quite likely to happen. And it's nice to know your end is covered when it does.
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