Like many things in life, cars require a little TLC. From regular oil changes and tire rotations to making sure not to ignore that pesky check engine light when it turns on, taking care of a car sometimes feels like a full-time job. But while a full-time job at least breeds financial rewards, the same can’t be said for the time you spend with your car. In fact, you’ll find it’s quite the opposite.
The costs of keeping your car up to standard, both in terms of safety and performance, are alarming, at best. The costs of repairing your car and getting it back in working order after a collision are even more shocking. Body work, for example, can run you somewhere between $500 and $5,000, depending on the degree of damage, while in the event that your engine suffers, you’re looking at as much as $3,000 for a replacement just to get you back out on the road. Even something seemingly simple, like a damaged radiator, can run you $400 – $600 – enough to feed an American family of four for an entire month, according to many studies.
The point is, having to pay high repair costs for your car is painful under any circumstances, but when an accident occurs, you aren’t always financially prepared. While auto insurance costs the average American north of $1,400 annually, the peace of mind it gives you in the event of an accident make it all the more valuable. Check out the visual representation in the helpful infographic below.
Presented By IFA Auto Insurance