Why buy Car Insurance?

[Kanika Shelatkar]

Buying a four-wheeler is an asset and a priceless possession for all families. They consider it an honour and celebrate the grand occasion. With so many diverse models and features available, it becomes challenging to choose the perfect vehicle. Your life and asset are precious, and you need to protect them.

Nobody can predict unfortunate events, especially while driving. While you maintain safety, there is no guarantee that others are. Hence, the Indian Government made it mandatory for all vehicle owners to buy Car Insurance under the Motor Vehicle Act, 1988. You remain carefree about calamities and other damages with an insurance plan. Here are reasons to buy one:

Pays for damages
Four-Wheelers are expensive. If you are in an accident due to a third-party’s negligence, you bear the repair costs. Thankfully, Four-Wheeler Insurance protects you from various damages like repairing the broken windshield or mechanical repairs due to collision. With an insurance policy, the provider bears the repair costs for major damages in an accident.

Reduces legal liabilities
It is a policy that offers protection against legal and financial liabilities if a third-party individual or property gets affected in an accident. Your insurance provider takes care of all financial responsibilities for treating the injured party while protecting you from legal repercussions due to the incident.

Pays for treatment
You also get covered by your insurance plan if you require hospitalisation. For instance, if you suffer serious injuries or fractures, you require treatment for a few days. With a valid Car Policy, you need not worry about medical expenses as the company pays for them.

Compensation
If the person involved in a car accident dies, it results in horrible consequences, especially if they are the family’s sole breadwinner. In such situations, the family of the deceased receives compensation from the insurance company.

Peace
Knowing that your vehicle has an insurance policy, you can drive around peacefully without getting trapped in the constant fear of paying for the costs in case of damage. You receive tax benefits on it if used for commercial or business purposes.

Why is it mandatory?
Lack of infrastructure makes insurance mandatory. While careless driving is a significant cause of road accidents, there are also reports of potholes causing traffic congestion, bridges collapsing, and vehicular damage. The policy is valid for a year and requires renewal after the expiry date. Thanks to digital technology, you can select online Car Insurance renewal options without visiting the company branch frequently. It is convenient and accessible 24x7.

How to buy online?
It is convenient to buy Car Insurance online as it saves time and effort. You need to visit the website, fill the form, upload the required documents, and pay the premium. Look for a reputed provider to protect yourself against the financial liabilities of getting involved in a car accident. The company sends you email and SMS notifications of renewal and expiry as reminders.

Conclusion
All General Insurance companies offer the facility of buying and renewing policies online. You can get the best services and add-on benefits like No Claim Bonus for not making any claim in a policy year.

https://www.libertyinsurance.in/products/motor-insurance/private-ca...