Your car is among your most precious assets and you would certainly want to protect it under all circumstances. This is where a timely purchase of Third Party Liability or comprehensive car insurance comes into play and helps you take care of your car, third party damages, and yourself.
Here, we help you take a quick look at why buying car insurance at the earliest is essential in India.
Importance of Car Insurance
There are plentiful reasons why you should protect your car while you’re driving on public roads in India. Given below are some of the most important reasons of the lot.
1. Pays for Damages
Cars are expensive, and paying for repairs is an extremely costly affair in itself. At times, your car may face damages because of the negligence of someone else. An oncoming car may collide with yours, a stray cricket ball may crack your windshield, or you may have to swerve to bypass a jaywalker thereby crashing your car into the wall. Bringing your vehicle back on track would cost you a considerable sum of money. With car insurance in your hand, you will not have to pay for the ensuing repairs from your pocket.
2. Reduction and Liability
Car insurance coverage pertaining to Third Party Liability (TPL) is obligatory in India. It covers you against all legal ramifications of any accident that you may happen to find yourself in. For instance, if you’re a part of an accident that causes damages to third party property or injuries to any other driver or pedestrian, your insurance company pays for the treatment and saves you from all legal outcomes of the case.
3. Takes Care of Hospitalisation Costs
Not all car owners who suffer an accident are fortunate enough to escape with just a few bruises and cuts. Some accidents may result in serious injuries or fractures that may need immediate hospitalisation. Instead of paying for the high treatment and hospital costs on your own, it is possible to get your car insurance company to pay for the same.
4. Compensates your Loved Ones in Case of your Death
Among the most unfortunate outcomes of road accidents is the death of the car owner, driver, or other people seated in the same or another vehicle. In case you are the bread-earning policyholder, you are always on tenterhooks while driving your car lest something unfortunate happens and your family is left in the lurch. This is where the death benefits of car insurance come into play and help your family sustain itself in the face of adversity.
5. Need for Comprehensive Car Insurance
By opting for a comprehensive car insurance coverage, you can protect yourself from third-party liabilities along with providing protection for your car and self. Your insurance provider pays for the costs of repairs/replacements, as needed, for reinstating your car to the same good condition in which it was prior to the accident.
Some car insurance plans also provide protection to the person driving the car as well as the co-passengers in terms of any injury sustained as a result of an accident. An even better holistic car insurance plan provides coverage for the associated expenses of an accident, such as towing charges, transportation or ambulance costs, payments made for overnight stay, etc.
Even though the premiums linked to comprehensive car insurance plans are comparatively higher than simple TPL policies, they pay sound returns in case you find yourself in any adverse situation.
Why should you buy Car Insurance Online?
The act of buying car insurance online often results in discounted premiums and therefore, cheaper policies. This is because insurance companies have lower operating expenses while transacting on the Internet. They happily pass on the saved component of money, which would have been otherwise spent on paying brokerage or commission, to their customers. Online purchase of insurance also has other benefits such as easy modes of premium payments, renewal of policy in minutes, comparison tools for assessing the features of various car insurance policies beforehand, etc.
Log on to insurance comparison and aggregator sites like Coverfox.com to get the car insurance you need in the easiest and quickest of ways. You may want to check out different types of car insurance plans available online on the basis of their coverage, tenure, add-ons, scope and nature, ease of claim settlement, riders, etc. Once you are sure of your coverage and premium needs, simply buy the car insurance of your choice online by paying through reliable gateways – it’s that easy!