Articles

What is car insurance?

by Kanika Shelatkar Insurance Consultant

One of the most optimal ways of travelling anywhere is by a four-wheeler. A car is an effective solution for travelling from one place to another. But the roads are not safe, an accident is recorded almost every day. But in the event of an accident, if the car gets damaged in any way there are certain steps a customer can take to ensure that there no losses to the owner. Car insurance is a type of insurance policy that will efficiently take care of the expenses which are arising from unfortunate events like an accident, theft and any third-party liabilities. Car insurance is the best way a customer can protect themselves and their cars from any type of financial emergencies including any type of legal liability, physical damage to the car, traffic collision, bodily injuries to owner, car or any third party. A lot of insurance deals have specific terms and conditions that are subject to vary with legal regulations in different regions of the country. A car insurance is mandatory so a customer should opt for a plan wisely. Customers can easily save money and get discounts and the best deals for on their insurance plans.

Opting for car insurance is important as it will help in covering the losses that might incur if the car gets damaged or stolen. The premium amount of car insurance is decided on the basis of the insured declared value or IDV of the vehicle. If the IDV of the care is increased by the customer, the premium will rise and it is lowered, the premium reduces automatically. It is important for a policy holder to compare different auto insurance options before going for a car insurance renewal of buying a new policy.

There are a lot of advantages of going for car insurance, some of the advantages are:

Car insurance policies will provide coverage against loss or damage to the insured vehicle.

These insurance policies also offer coverage against loss or damage to a customer’s vehicle caused by accident, theft, fire, explosion, self-ignition, lightning, riots, strikes or acts of terrorism.

Coverage against financial liability caused by injury or death of a third party or damage to the property.

Personal accident cover.

Opting for a car insurance requires minimal documentation. For a new policy, customers will need to submit a filled-up proposal form and copy of registration certificate (RC). For renewals, customers will need copy of the Registration certificate along with copy of the previous insurance policies. Car insurance policy is required for drivers in almost every state. Car insurance can easily help protect the owner and their family from huge expenses. Customers will need to invest a small amount for their own protection, they can help avoid costly expenses. A car insurance will cover collisions, comprehensive, property liability and body injuries.


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About Kanika Shelatkar Innovator   Insurance Consultant

7 connections, 0 recommendations, 57 honor points.
Joined APSense since, March 18th, 2019, From mumbai, India.

Created on May 7th 2019 06:15. Viewed 690 times.

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