About Car Insurance
Most people own cars or vehicles these days. And as more cars enter the highways, the risk of accidents and damages also increases significantly.
Furthermore, the cost of repairing said damages can often be astronomically high. That’s why it’s so necessary to get a good motor insurance.
there are so many insurance companies in the market, offering complicated terms and benefits and it can be overwhelming to decide which is the best for your specific requirements.
Benefits of Car Insurance
A car accident has the potential to be devastating; mentally, physically, and financially. Unlike a Third-party Liability policy, a Comprehensive plan covers damages to your car as well.
A Comprehensive plan covers car theft. You shall receive the vehicle’s Insured Declared Value (IDV) in case of car theft, after the claim settlement process.
Be it natural calamities such as floods or manmade calamities such as riots, damages to your car will be covered if you purchase a Comprehensive policy.
Peace of Mind
Car insurance offers peace of mind in the sense that you can cruise on a highway or even squirm through peak traffic without having to worry about the consequences of potential accidents.
As such, having a comprehensive car insurance policy in place will ensure that your vehicle is covered for the costs incurred on repairs in case of accidents.
Mandatory by law
The Motor Vehicles Act of India has made it compulsory for all vehicles used in public spaces to have car insurance.