Reasons why car insurance in india is essential
A friend of mine was feeling delighted after buying car he had been craving for. But, I found him feeling disappointed after some days. Upon asking the reason he lamented that he had to shell out money to have his new car insured although he thinks he is the safest driver on road and would never meet an accident. According to him, he bought a car insurance only because it is mandatory and car-owners are liable for punishment otherwise. This incident made me wonder why car insurance in India is a compulsion.
Why should you have one?
Accidents are predestined incidents. Even the best drivers in the world cannot guarantee that they would never come across any kind of road mishap. In a crowded country like India and especially in busy metro cities road accidents are almost inevitable in spite of improved road conditions and traffic system. Even a minor accident can cause damage to the vehicle, drivers and other passengers inside the car. This is where car insurance in India plays a pivotal role in offering protection from the liabilities that arise from an event of road accident.
Advantages of securing a car insurance
My friend is not the only one, there are hundreds of people who are under the misconception that buying a car insurance cover is a waste of hard-earned money. There are many benefits of investing in a good car insurance plan.
If a mishap damages your vehicle, insurer is responsible for paying a significant portion of the entire repair cost as per the terms of your insurance policy.
In the event of permanent disability or death the driver of the vehicle will also be entitled for a personal accident cover. This is useful because even if they possess a life insurance plan that wouldn't be enough to cover their total and permanent disability.
A proper insurance also safeguards vehicle owners from third party liabilities. In case you are involved in an accident that causes injury or property damage to third party, you are legally liable to compensate for the loss if your vehicle is not insured. By insuring your vehicle you can escape third party liabilities.
Apart from the regular insurance covers you can further opt for various additional covers. You can compare car insurance policies to find out which plan comes with extra coverages such as;
Zero depreciation guarantee
No claim rewards,
Down time insurance or loss of use coverage
Compare car insurance to avail better coverage without paying more
Once you start looking for the perfect cover for your vehicle you will come across a myriad of policies offered by India's leading insurers. You need to compare the offerings to trace out the best deal as per your requirements. Most reputable insurers now boast a strong presence on internet so you can easily compare car insurance quotes online.
Car insurance India is compulsory and rightly so. Mishaps can take place at anytime and when it does you have no option but to spend a huge amount of money to fix everything up. Insurance also require expenses but far less in amount than what you might have to spend in time of any mishap.
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