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Benefits of Car Insurance Plans That Are Not Well-Known

Published On Feb 21, 2022 10:00 AM By InsuranceDekho

Learn about lesser-known perks of vehicle insurance coverage. Continue reading!

Buying a car in India entails a great deal of responsibility, and after you've done so, you'll want to ensure it against any losses that may arise due to unanticipated situations. According to the Motor Vehicles Act, driving a car in India without valid car insurance coverage or without a car insurance policy is unlawful. In India, there is a variety of car insurance coverage to choose from. In times of distress, car insurance may be really beneficial. A car insurance coverage can assist you in covering financial damages that may arise as a result of an accident. A car insurance policy protects you against a variety of losses that might result in fees or obligations. You may quickly acquire a car insurance policy and select the appropriate sort of coverage for your vehicle, needs, and budget.

Benefits of Car Insurance Plans That Are Not Well-Known

Not-So-Well-Known Advantages of Car Insurance Plans

The following are some lesser-known facts regarding car insurance that demonstrate why it may be quite beneficial:

  • Assists in the Observance of Laws

According to the Motor Vehicles Act, it is required to carry legal vehicle insurance coverage when driving in India. In India, there are a variety of car insurance plans available, one of which is third-party insurance coverage that is required for all vehicle owners. Comprehensive and stand-alone own damage vehicle insurance plans are two more types of car insurance policies offered in India. Each of these policies has its own set of advantages. You will comply with government requirements if you acquire a third-party or comprehensive auto insurance policy; but, if you opt to purchase a stand-alone damage policy, you will be required to obtain a third-party insurance policy to comply with the law. A car insurance coverage will undoubtedly assist you in adhering to government regulations.

  • Add-on Covers are available for Customization

One perk of buying a vehicle insurance policy is that you may personalize it by purchasing add-on covers to supplement your coverage. Zero Depreciation cover, Consumables cover, Roadside Assistance cover, Engine Protection add-on cover, and so on are some of the most popular auto insurance add-on covers. You may select the sort of additional coverage you desire with these add-on covers.

  • Financial Protection

A car insurance policy covers losses that may arise as a result of unanticipated events such as an accident. A car insurance policy can give financial coverage for damages to the third party and their own cars in the event of an accident. It is determined by the sort of auto insurance coverage you select for your vehicle. A third-party vehicle insurance policy will cover any third-party liabilities that may arise as a result of an accident, whereas a comprehensive car insurance policy will cover both own and third-party liabilities.

  • Uncertainty

Being in an accident is rarely a desirable circumstance, yet given the uncertainties of life, one may find themselves in one unwittingly. In such cases, car insurance coverage may be quite beneficial and offer a sense of security to the driver of the vehicle involved in the collision. You can protect yourself from financial ruin if your vehicle is damaged in an accident.

Take Away

If you drive a car in India without car insurance coverage, you might be fined and the authorities could take legal action against you. You will also be unable to obtain coverage for any losses or expenditures incurred as a result of an accident. Keep in mind that auto repairs may be expensive and can quickly deplete your money. You must acquire vehicle insurance coverage to avoid this. A car insurance policy gives a sense of comfort as well as cash protection against accident-related expenditures.

Also read - Bumper-To-Bumper Vs. Comprehensive Insurance: What's The Difference?

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.

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