Five Reasons Why Car Insurance Is Necessary for India

Driving a personal cart is considered to be a luxury in a country like India. Only a negligibly small percentage of this heavily populated nation can enjoy this opportunity. Although the percentage may seem to be insignificant, yet the number of car holders is not too small and this number enhances every day. Maintaining a personal car decreases the dependency on public transport and seems to enhance your mobility. You can utilize it according to your personal needs.

However, the driving experience in India possesses its own perils. Essential lack of implementing traffic rules by the authorities, ruing traffic indisciplines, etc. are the order of the day. Road accidents caused due to traffic rule-breaking is a common occurrence here. After carefully considering all these factors, it is essential that you should buy a car plan right after you buy a new four-wheeler. Buying or renewing four wheeler insurance is just a matter of minutes. You can avail of it and compare insurance online, with just a few clicks on your laptop/smartphone.

5 reasons to buy a car insurance policy in India

1. Damage coverage

After buying a car you will realize that not only is the car expensive, its maintenance and repair costs are also quite high. In fact, it becomes higher for more expensive cars. While driving, you may occasionally get your vehicle damaged because of some other person’s negligence. Even if your car is hit by a small ball or stone, it will be damaged to a certain extent, which will need repairs. If you maintain valid four wheeler insurance, you need not have to pay for such damages. The company will bear it.

2. Liability reduction

Maintaining four-wheeler insurance reduces your liabilities to a considerable extent. Maintaining a third-party policy is mandatory in India. It safeguards you from all sorts of legal ramifications that occur during accidental cases that cause damage to the third party. The insurance will pay for their damage and save you from the legal obligations and repercussions. You can compare insurance online to settle for the best deal.

3. Hospitalisation costs

Maintaining valid car insurance will save you from hospitalisation charges during accidental cases involving your vehicle. We all are aware of the increasing medical costs. In case you are unfortunate enough to get hurt with more than minor cuts and bruises, you need to get hospitalized. Instead of paying it from your own pocket, you can let your insurance company do that.

4. Discounts on online purchase

If you purchase your four wheeler insurance online, you can avail more rebates and discounts. Moreover, online purchase is easy, user-friendly, fast and hassle-free. Internet transactions lead to cheaper operating costs, because of which the company can offer better discount options for online buyers. You can receive the same benefits at a reduced price. The brokerage costs are also saved. Before you buy any plan, compare insurance online for best interests.

5. Family compensation

In case of the demise of the policyholder due to any road accident, the insurance company will duly compensate the family.  Four wheeler insurance online eases out the financial burden of the family to a certain extent. You will ascertain the entire picture if you buy four wheeler insurance online.

Many users think that car insurance is merely an unnecessary financial burden. These points highlight the essentiality of car policy. Moreover, it is mandatory by law. Driving a car without proper insurance papers is punishable by law. So, to avoid these obligations and ensure your safety, you must ideally maintain a car policy.

Jul 14, 2021
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Gayatri Prabhu, Head-Digital Business at Mahindra Insurance Brokers Limited (MIBL) is one those few digital leaders who has the width and depth that is required to execute an ROI driven holistic digital strategy. She cuts through the noise, identifies the critical levers and leads her team to successful execution of the defined strategy. Her core mantra to win new and retain existing customers is: understand the consumer behavior and craft experiences around it.

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