5 Undeniable Reasons To Love Car Insurance

A car is not merely a means of transport, but it is a prized possession for most owners and their families. You might be able to afford the car, but its maintenance might take a toll on your finances. And if your vehicle meets any unfortunate incident, you can kiss your savings goodbye. But all these factors should not stop you from buying a car and making your life simpler. For such situations, there is insurance.

Four-wheeler insurance online is a great way to keep yourself safe from any financial losses incurred by car accidents or thefts. As per the Motor Vehicle Act of 1988, every car owner must have third-party insurance at the least. It is an association between an insurance provider and the owner of the vehicle. It offers protection against any losses that you may incur by on-road damages to your car. Man-made calamities, theft, accident, fire, and several other events are covered by insurance companies offering car insurance online.

Here are five undeniable reasons to love car insurance:

Protect Yourself and Others 

Car accidents can happen to anyone, anywhere, at any time – no matter who’s in your vehicle. Sometimes you can get in a wreck with another driver who doesn’t have insurance, which leaves you paying for any expenses. If you have liability coverage and personal injury protection, it can help cover any injuries that you or your passengers endured from the crash. These medical bills from any hospital visit, surgery, or on-site aid will be paid for by your insurance company and will ultimately save you a lot of money and trouble. Unfortunately, accidents aren’t the only bad things that happen to car owners. There’s always a chance that your car will get stolen, vandalized, or damaged by Mother Nature. In any of these cases, insurance companies will cover the losses you sustained and help turn your unfortunate situation around.

Mandatory by Law

As per the Motor Vehicles Act of 1988, it is compulsory for every car plying on Indian roads to have valid vehicle insurance at all times. If you are found driving your car without insurance or if your insurance has expired, you will have to pay the penalty for the same. Your driving license can also be temporarily or permanently cancelled if you drive your car without valid insurance multiple times.

Pays for Third-Party Damages/Injuries

Victims of accidents will try to squeeze as much money out of you as they can, which sometimes leads to lawsuits. However, it can give you a safe cushion between legal claims and your savings if you have car insurance. Efficient lawyers usually come with significant expenses, and having the right insurance can provide the proper protection you need at an affordable price. When you purchase the basic third-party insurance policy, it will protect you from the expenses of third-party injuries and damages. Suppose you are involved in a road accident involving another vehicle, a pedestrian, or someone’s property. In that case, the insurance provider will pay the hospital bills and repair expenses if you have insurance. Without valid insurance, you will be required to pay the treatment and repair costs from your own pockets. So, vehicle insurance helps you reduce your liability and keeps your finances protected.

Affects the Re-sale Value of the Car

While you may like to pay the least amount of premium or even do away with some covers, especially when buying and comparing online car insurance, however, a comprehensive policy also plays a vital role in increasing the resale value of your cover. A higher IDV or a zero-depreciation policy ensures the next buyer that the car is well taken care of and is in good condition.

Customized policy features.

If you’re worried about getting a quote that won’t be catered to your needs, you can customize your policy accordingly. You can choose the right riders, such as insuring the tyres, coverage of fibre and glass parts, etc. You can even compare car insurance online to know which one is best for you.

When buying car insurance online, the internet becomes your source. You can even check out the well-known insurance companies’ websites to know more about them and the policies they are offering.

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