Today, let me tell you why auto insurance is important? You work hard to buy Automobiles so that you can enjoy the trips and meet professional needs. Uncertainty can occur at any time, which can lead to considerable loss. If the vehicle is damaged due to accident and theft, then the cost of the replacement can be quite heavy. Therefore it is very important to buy a suitable extended type of cover for your car.
If you are an owner of a vehicle then you must understand why auto insurance is important to buy. An auto insurance offer extended motor insurance products that provide additional protection for your vehicle. Apart from this, provide cover for liability, death or property damages of third parties.
Why Auto Insurance Is Important?
- 1 Why Auto Insurance Is Important?
- 1.1 As Per Law it’s Mandatory:
- 1.2 Auto Insurance Is Important For Personal Accident Cover:
- 1.3 Auto Insurance Gives Coverage To Natural Disasters:
- 1.4 Time-saving & Hassle-free:
- 1.5 Gives Collision Cover (Not All Company Provides This):
- 1.6 Other Important Cover That Makes Auto Insurance Important:
If you are wondering why auto insurance is important to buy then you have come to the right place as today I am going to discuss the topic why auto insurance is important.
As Per Law it’s Mandatory:
As per the Indian law of Motor Vehicles Act, 1988, it’s mandatory for each owner of any vehicle running on public roads to buy an auto insurance policy. If you can’t afford comprehensive auto insurance, then it is necessary to get at least third party liability insurance.
If someone runs the car without insuring it, then it is a legal offense. The Transport Ministry has asked the insurance companies to give details of the vehicles whose insurance is not done yet. It will help in getting rid of non-insurmountable vehicles running on the Indian roads and to check if a vehicle is insured or is over. So, to avoid legal issues auto insurance is important.
Auto Insurance Is Important For Personal Accident Cover:
Auto insurance not only covers for your vehicle but it also covers for personal accident cover. Under this personal accident cover, in case of demise or limb loss of the policyholder (driver), the insurance company pays for the losses. We don’t know when we are going to meet with an accident or not. No matter how good a driver you are you may meet with an accident any time.
So, to get comfortable both mentally and financially during an emergency auto insurance is important to have. Buying an auto insurance plan is to be on the safest side.
Auto Insurance Gives Coverage To Natural Disasters:
Auto insurance is important because it covers the damages from earthquake floods, typhoons, landslides, avalanches, lightning disruption, etc. So to get financial support after any natural disaster takes place and ruin your vehicle auto insurance is important.
Time-saving & Hassle-free:
The appropriate auto insurance is important as it helps to protect you, your passengers, your family members, other drivers during an emergency. The auto insurance policy not only gives protection during an emergency but it also provides repair and replacement costs of the injured car.
There are some auto insurance companies available in India that provide repair and replacement process in their network garages (cashless facility) and some pick your vehicle from your home and then after repairing or replacing the required part, they deliver your vehicle to your doorstep. So it’s time-saving and hassle-free.
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Gives Collision Cover (Not All Company Provides This):
Auto insurance come with collision cover, which offers coverage to replace or repair your vehicle in case your car involved in an accident. The auto insurance is not typically instructed by law, however, it can be really very helpful in case you do not have cash in hand to replace or repair your car.
Other Important Cover That Makes Auto Insurance Important:
Comprehensive car insurance coverage payouts for the damage from everything except the collision of car. Even if it is included, it isn’t limited to glass damage, deer, theft, fire, storm damage, and vandalism.
Auto insurance caters to our economic losses on any kind of accident. There is a kind of contract between the insurance insurer and the company. Under this, the agreement is made in the legal form that you will pay the premium and the company will compensate for the loss due to a vehicle accident. So I hope now you understand why auto insurance is important?