How Car Insurance Can Keep You Out Of Trouble

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Car insurance is one of the most sought after types of general insurance in India. Is there any justifiable reason behind this? Well, you would be happy to know that there are not one, but two very significant reasons why people opt for car insurance. First and foremost, car insurance is a legal requirement and unless you have a good motor insurance cover, you are not allowed to drive your vehicle on the roads of this country. The second and the more well-liked reason for the popularity of car insurance is that it keeps you out of trouble. Yes, that is correct. You can stay out of a lot of trouble simply by buying a car insurance policy. Read this article to know how exactly that can happen.

Why Do People Think Car Insurance is A Good Idea?

Now let us get to the interesting part. Why exactly do so many people feel car insurance is a good idea? The top reasons are:

  • Covers your vehicle: Your vehicle is one of the most prized possessions you ever had. It is therefore understandable why you like to keep it safe and secured. A good, comprehensive car insurance plan is primarily purchased to keep the vehicle covered. Whether you encounter a road mishap or, in the worst case scenario, the car is stolen, the insurance policy will compensate you for the loss. You can make a claim for the repairs and if there is a theft or fire or any other such catastrophic situation, expect a full compensation to replace the vehicle.
  • Covers you and your passengers: Your life is precious as is those of your loved ones. If you and the other passengers in your car are badly injured in a road accident, you will be able to get treated at the best hospital and get nursed back to life. The car insurance policy covers all medical costs related to such incidents.
  • Covers a third party: It is never pleasant to have your car involved in a road accident. However, if that happens, your insurer will compensate the third party, also involved in the accident, on your behalf. The third party will be compensated for loss or damage to life and damage to property.
  • Covers legal costs: If a third party drags you to the court after an accident, the insurance provider will cover all the legal costs. This is a huge advantage of a car insurance plan as the legal costs run really high. Without an insurance plan in place, it can become very difficult for you to defend your case in court.
  • Keeps your finances intact: All of the above points keep your finances secured. Without a car insurance cover, you will have to pay for the car repair expenses yourself. You also have to pay the medical bills after an accident. Then, you have to compensate the third party out of your own pocket and will also have to fight the legal case yourself. Can you imagine the impact all of these will have on your finances? Your savings may completely deplete after just one unfortunate road accident. This is why it is such a great idea to buy a good motor insurance cover and keep your bank account intact.
  • Keeps you on the right side of the law: Last but not the least, a car insurance plan keeps you on the right side of the law. You can drive your car with a lot of mental peace when you have a car insurance plan with you as then you won’t be breaking any laws.

Car Insurance Settlement Ratio In 2017

Car insurance settlement rates are pretty high in India. If you have all your documents in place and are truthful when buying the plan, you don’t have to worry about a claim being rejected. The Indian car insurance sector is highly efficient and most of the correct claims made are settled swiftly without too many hassles.

In a nutshell

To put it in a nutshell, there is and substitute to getting car insurance. The car insurance policies are comprehensive and affordable. Just run a quick online comparison, find your ideal plan and make a purchase right away.

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