Yes, I feel that buying Car Insurance is really important so that you can secure your life as well your Car’s life too. It is an honest way to make the life of your car way better. With the rise in disposable incomes, it has become quite easy to own a car these days. Now you can see that every second home has its own car. Big or small, Costly or less expensive. This has led to increasing in the number of vehicles on the road, and due to increased traffic, we are also seeing a rise in the incidents of road accidents. To save yourself from paying for damages, hospitalization charges or any kind of legal repercussions that may arise, it is important to have car insurance. It helps the person to survive various problems as well as certain kinds of obstacles. There are many companies which provide the Car Insurance policy. It is to be said by the Government that a Car Insurance policy is mandatory.
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Following are the key benefits that are offered with a comprehensive insurance policy: –
- Cover for third party injury or death and the damage caused to their property
- Reimbursement of the costs incurred for loss or damage to the vehicle
- Personal Accident cover, in case of loss of limb or sight, disablement or death
- Loss/damage done to your vehicle due to natural calamities
- Loss/damage done to your vehicle by any other circumstances like theft, burglary, riots etc.
- Third-party cover
- Personal accident cover
Besides these features, you can also opt for add-on covers which can increase the coverage of your comprehensive car insurance policy. It helps the person to make the car more protective.
Benefits of buying the Car Insurance Policy :
- No more agent’s interference.
- There is no requirement for paperwork. Everything is done on an online basis.
- It is very much convenient and saves time.
- It helps in the payment reminder actions.
- You can avail of the cashless claim facilities.
- It is very much easy to compare the prices.
- It is more cost-effective in nature.
As per Motor Vehicle Act, Third-party coverage is compulsory for any vehicle to ply on road in India and you can also be penalized by authorities if you fail to do so.
The Own Damage part is optional but is highly recommendable because it provides coverage to your asset from various risks.
I hope you will understand and will definitely purchase the Car Insurance as it is really mandatory for your safety and for others’ safety too. You should take care of your Car too because you have invested a lot of money in that too.
Thank You
Source: Quora