Download
1 / 5
50 likes | 56 Views
With the increasing of population in India, numbers of car also increased on road. People want to more lazzaris items. And India car is very lazzaris to use. But with the increasing to car , car accident also increased . So the government decided as safe side Car insurance is very mandatory or every one.Click to know more https://www.coverfox.com/car-insurance/
E N D
As the Indian economy grew, the disposable income in the hands of the common man saw an increase. This, coupled with the availability of car financing, has made it easy to own a car, sometimes even more than one in a family. After all, having your own mode of transportation is more convenient than relying on public transport.
When you buy a car, it is necessary that you buy car insurance as well. The Motor Vehicles Act, 1988, mandates this due to the following reasons: • When you buy a car, it is necessary that you buy car insurance as well. The Motor Vehicles Act, 1988, mandates this due to the following reasons: • It reduces your liability - Buying third-party motor insurance is lawfully necessitated for all vehicle owners in India. Third-party liability insurance protects the car owner from the following incidents: • It covers him/her against legal liabilities to a third-party in an accident. • Third-party injuries/death is covered under this insurance plan. • Damage to third-party property is offered coverage as well.
This insurance plan, hence, pays for all the damages caused by the at-fault driver in an accident and saves him/her from legal repercussions of the incident. • It could pay for your hospitalisation - Some car insurance companies in India offer personal accident cover for the owner-driver along with the third-party liability insurance plan. This is a very useful insurance cover as it pays for minor or serious injuries that the car owner suffers in an accident. If there is a hospitalisation involved, he/she does not have to pay for the expenses from his/her own pocket. The motor insurance company will make the necessary payments. In case the car owner succumbs to injuries, his/her family will be compensated with a substantial amount to help them financially cope with the tragedy. • It helps you stay stress-free - In case you are not a confident driver, getting your car adequately insured will help in reducing the stress of driving. Even for experienced drivers, car insurance is a necessity as they may get involved in accidents for no fault of their own.
Comprehensive Car Insurance: • Although it is not mandated to buy a comprehensive car insurance policy, it is advisable to do so. The coverage offered by a comprehensive plan includes the following: • Third-party liability cover - This is similar to the coverage offered by a basic third-party liability standalone policy that has been explained above. • Own-damage cover - One of the most significant features of a comprehensive car insurance plan is the own-damage cover that protects the insured vehicle from damages. The vehicle is protected from accidental damages, natural calamities, man-made disasters, in-transit damages, etc. Additionally, the owner-driver of the insured vehicle is offered personal accident cover that protects him/her from accidental injuries or death. • It should be noted that a comprehensive car insurance policy costs less when bought online. From the insurer’s perspective, the low operating cost for online policy sales is passed on to the customer in the form of discounts. Moreover, it is easier to renew an online insurance policy with limited involvement of paperwork.
