The short answer is yes. It is a legal requirement to have a car comprehensively insured when it’s under finance. By getting comprehensive insurance, you get the coverage you might need in case you damage the vehicle. Accidents can happen anytime, and if you don’t have the cash to cover the cost of fixing or buying a replacement, this insurance will help. Comprehensive insurance covers damage from a collision, whether it is minimal or beyond repair. It also gives you peace of mind if the car gets stolen or vandalised, as well as damage due to fire, flood, and other natural events.