• Why Car insurance Policy is mandatory in India?

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    There are a number of reasons why you as a responsible car owner and as a citizen of India should avail car insurance, here are a few of the reasons why you should avail a car insurance:

    • Covers damages

    A car insurance will cover the cost of the damages to your own vehicle and/or third-party vehicle involved in the mishap in case the mishap was your fault.

    • Covers your liabilities

    A car insurance will cover the third-party liabilities as well as own damage liabilities at the time of a mishap.

    • Motor Vehicles Act

    As per the Motor Vehicles Act in India, it is mandatory for every car owner to insure his/her vehicle with at least a third-party insurance cover.

    • Relieves you of unwanted stress

    A car insurance relieves you of unwanted stress at the time of a mishap by offering financial assistance at the time.

    • Covers your hospitalisation expenses

    There are times when a mishap leads to injuries to oneself or to a third-party involved in the accident. During this time, having a car insurance is a boon as it ensures that the insurer pays for your or the third-party’s hospitalisation expenses.

    • Less expensive when purchased online

    You can purchase a car insurance online via third-party insurance websites or insurer’s official websites. When you purchase the insurance online you are eligible for a number of discounts on the insurance premium, hence you can avail the insurance at a low price.

    • Compensation offered to your family in case of your demise

    Sometimes a road mishap can lead to the death of the policyholder, in such cases as per the insurance agreement the insurer will pay the complete claim amount to the the family/policy nominees.

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