As per law, while driving on an Indian road, you must opt for a car insurance policy. Regardless of whether you own a private car or a commercial vehicle, you ought to have a car insurance plan. In India, there is no dearth of car insurance providers. So if you have newly bought a car or if your car insurance renewal date is approaching, you can consider compare car insurance online and then choose the best one.
Coverage of Car Insurance Plans
All car insurance policies that work in India come with two types of coverage. The liability coverage is mandated by India’s Motor Vehicles Act 1988 and you must avail this type of coverage while buying your car insurance plan. There is a package car insurance policy which is optional but it is strongly recommended that you go for it as it offers comprehensive coverage.
Car Insurance Plans with Liability Coverage
Car insurance policies with liability coverage safeguard the insured vehicle from third-party liabilities on roads. God forbids, if your car gets involved in any mishap and causes third party property damage, death or physical injury, you don’t have to shell out compensation from your own pocket. The liability coverage as the name suggests takes care of policyholders’ liabilities towards third parties if any accident takes place. Personal accident coverage for owner-driver of the car is also included in the liability coverage.
Car Insurance Package Policy
This package coverage available with car insurance plans shields the insured vehicle from a range of eventualities. It covers the financial loss due to theft or due to the damage of the vehicle by natural and man-made calamities. If your car gets damaged due to flood, storm or riot or strike, your financial losses will be covered by the package car insurance policy available. Car accessories are also under the ambit of package car insurance policy coverage.
Why Car Insurance Is Essential in India?
If you have a car in India, you have to opt for a vehicle insurance policy to be eligible to drive on roads within the territories in India. Apart from the legal obligation, an online car insurance plan covers financial losses in several different ways. An insured car’s damages are taken care of by an online insurance plan for the car. Damage caused by the insured car is also covered by a motor insurance policy in India. In case, an insured car gets stolen, car insurance providers pay out the compensation and save the economic losses of car-owners in India. Theft and damage of four wheeler cause huge financial loss to the car-owners in India. A quality motor insurance policy shields car-owners from such financial setback.
Conclusion
Life is really unpredictable; you don’t know what could happen in the next hour when you start your car engine. However, if you own an effective car insurance policy, you can cope up with all kinds of circumstances. So to enjoy a worry-free drive, it is essential to buy a car insurance policy.
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