Among the first such obligations is insurance, which is an essential expense for someone still short on driving experience. “If you’re relying on your car to get you to lectures every day make sure your insurance premiums take precedence over your entertainment budget,” says Hay. Unlike life insurance, a short-term insurer is permitted to cancel an insurance policy with 30-days’ notice if it deems a person too great a liability. If this happens to you it could impact your future ability to get insurance as well as the premiums you will be expected to pay. “An insurance policy is a contractual agreement between two parties,” says Hay.

Source: News Business Ethiopia August 25, 2018 09:56 UTC