Accidents are very unfortunate events that one can’t even imagine but once it happens leaves a scar mark in one’s life. In India, you will hardly find a day not seeing or at least hearing about vehicles banging into each other causing major damages main reasons like poor infrastructure and lack of safety practices.
Another pertinent reason for the increase in the number of accidents is the fact that we are witnessing a very rapid growth in the number of vehicles, in such a scenario insurance is very necessary even if you are a good driver. One may be confident regarding driving skill and may not realize the value of insurance.
Remember, no matter how good a driver you may be, you are always exposed to risk of getting hurt by somebody else’s negligence. The consequences of an Accident can be severe, and besides financial loss and personal injuries it also causes severe mental stress. Having a motor insurance helps relieve a lot of your financial and mental pain
A motor insurance can protect you in several ways –
1. It covers your liability for third party damages.
2. It covers you for any vehicular damage that would have happened because of the accident.
3. The insurance provider would pay for the repair/replacement cost, whichever would be required to reinstate your vehicle in the same good condition as it was before the accident.
4. A motor insurance also offers protection to the driver and the occupants of the vehicle for any personal injury sustained as a result of the accident.
5. Possessing a motor insurance can also provide protection from loss arising due to legal action and any Legal Liability that may arise due to accidental damages to surrounding property or people from the collision/accident of your vehicle.
There are a host of insurance providers in India who offer various types of vehicle insurance policy to suit the varying needs of individuals. But before you buy one for your vehicle, check all the benefits compare premiums that are offered by different insurance .