Car Insurance – Best Friend for Long Rides!
For those who have just bought a car or any other vehicle, the first word that strikes their mind is insurance. While some deem it as a necessary devil, there are others well versed with the pros and cons of driving a vehicle on busy Indian roads and, hence, choose to read and understand details before getting their car insured. With Indian roads getting clogged due to rising traffic coupled with unforeseen disasters, road accidents are becoming increasingly common. One understands the importance of having an insurance policy in such situations.
Any kind of vehicle insurance policy consists of two components. One is the third-party liability cover that covers all kinds of damages including accidental injury, death and loss to the property of the third party involved in the accident. Paying for this insurance cover is mandatory as per the regulations of the Motor Vehicles Act, 1988. The other kind of insurance includes a comprehensive insurance cover that covers damages caused to the vehicle of the insured in addition to providing a third-party cover. Since the third-party liability cover does not cover damage to the car of the insured or the policyholder, it is important that one considers paying for it for added protection. Wider in scope concerning risk coverage than having a simple third-party liability cover, a comprehensive coverage policy costs more than paying for a third-party liability cover only.
A car insurance policy covers against risk of damages that may arise in the future. The damages may be extreme, thus, resulting in exorbitant repair and maintenance charges. This explains why having a car insurance policy is important and, hence, must not be ignored. In addition to the risk posed by road accidents, car insurance policy ensures cover against damages resulting from natural disasters including earthquakes, floods, volcanic eruptions, storms, lightning, fire etc. or unnatural calamities inclusive of theft, terrorist activities, riots and stampede, etc.
In addition to the basic protection available under both the kinds of insurance coverage, one can consider paying for add-on covers like are personal accident cover, roadside assistance cover, daily cash allowance cover, no-claim bonus protection cover, zero depreciation cover, engine and electronic circuit cover, etc. However, not all car insurance policies cost the same as different insurance companies charge differently. It is necessary to compare car insurance online before paying for any policy. With internet becoming ubiquitous in nature and insurers sharing details on their portals, it has become easy to compare car insurance online in India. Moreover, the rising number of insurance aggregators has resulted in availability of details online.
Having a car insurance policy is like a protection cover. Gone are the days when people bought any kind of insurance policy without lending a second thought to the premium prices and the extent and kind of cover included in the policy. One must take care to buy that policy that is in sync with their needs. For this, it is essential to compare for prices and benefits. Contrasting the details of motor insurance online ensures that one avails necessary benefits at the lowest possible price. Car insurance ensures that one continues to enjoy the happiness of driving one’s own car sans the fear of suffering damage. Car owners must exercise caution and prudence when they compare car insurance in India.
Also Read: what kind of insurance should you buy for your car?
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