Vehicle insurance or Motor insurance or auto insurance is an insurance mainly purchased for two wheelers as well for four-wheelers or you can say any vehicle on the roads. The primary objective of this vehicle insurance is to provide a protection to you and your vehicle against any physical damage resulting from accidents.
Q2. Importance of Car Insurance.
A motor or vehicle insurance covers any kind of loss or damage to the auto mobile or its spare parts due to man-made or natural calamities. Insurance policy gives accident cover for the vehicle’s owner while driving and third-party liability and for the passengers sitting in the vehicle at the time of accident.
Q3. Benefits of Car Insurance.
Benefits of Car Insurance are as listed below :-
Covers Damage Repair Costs:- Paying for damage repair can be expensive. There can be times where your car might get damaged because of somebody else's carelessness. What if the repair expenses burn a big hole in your pockets? If you have adequate vehicle insurance coverage, you don't have to worry about it.
Takes Care of Legal Liability:- Buying third party insurance cover fulfills your legal liability. In case you are involved in a road mishap, it safeguards you from accident-related legal ramifications (if the accident is caused by you).
Covers Hospitalization Expenses:- Some accidents cause fractures and other serious injuries that need immediate medical attention. Having a motor insurance plan safeguards you from spending hospitalization expenses from your own pocket.
Financial Support:- Financial Support: If a vehicle owner is a sole breadwinner, it's unfortunate if he succumbs to the injuries caused by a road accident. The financial crunch can be threatening for his/her family's survival. The financial support received by vehicle insurer is a blessing in disguise post the unfortunate incident.
Q4. Important Key points of Car Insurance.
There are several key points of car insurance. Here, we are listing some of the important key points of car insurance plans for policy holders.
Check them out:
Try to strike a perfect balance between the premium and the offered coverage.
Check that your preferred insurance provider has authorized a wide range of car service centers and garages as their network listed.
Cashless motor insurance ensures a smooth claim process.
The voluntary excess shouldn't be too high or too low.
Check out the list of add-ons.
Check the Insured Declared Value offered by the insurance company.