Mandatory by law: The Motor Vehicles Act of India has made it compulsory for all vehicles used in public spaces to have car insurance. A third-party liability policy is compulsory for all vehicles, but you can decide to go for a comprehensive car insurance policy too. The reason why third-party liability insurance is mandatory is that in case of accidents, any damages or losses to the property of a third party along with injuries to the said person are covered.

Effective investment: Recent studies have shown that one in six car accidents take place in India. Whether you are at fault or not, these odds cannot be taken lightly. As such, having a comprehensive car insurance policy in place will ensure that your vehicle is covered for the costs incurred on repairs in case of accidents. It will also cover the policyholder for any bodily injuries. In case of collisions with other vehicles, the compensation could run into thousands of rupees, perhaps lakhs. Your car insurance policy will help you breathe easy and cover the costs for you in exchange for a nominal premium, making it a worthwhile investment.

Health insurance boost: Many of the car insurance policies out there provide coverage for the injuries you sustain, or the injuries sustained by your fellow passengers during an accident. If the policy you choose does not offer this cover, you can always purchase personal injury protection as an add-on cover, and it will boost your health insurance, covering things that may not be covered by your health insurance plan.

Saving time: Meeting with an accident can be quite stressful. You have to get your vehicle repaired, pay for the expenses incurred on repairing the vehicle of a third party, pay for the treatment of any injuries sustained by you or a third party, making claims, finding a good garage, etc. Basically, you will have to run around a lot. But with car insurance, your stress can be significantly lower and you can also save a good amount of time as the insurance company will handle everything for you.

LPG Gas Connection New And Important Rules In Gujarati: Click Here

Sponsored Ads