Motor Insurance

There are thousands of reasons why you should actively protect your car and yourself in India. We list the 5 most important ones.

Driving in India is a luxury that thousands of people partake of every day. It is now quite simple to buy a car in the country, and with higher disposable incomes, most households are able to afford more than one car, too. Having one’s car increases one’s mobility and eliminates dependence on public transport.

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However, driving in India also comes with its own perils. We often hear car owners rue traffic indiscipline, lack of legal enforcement by road authorities and myriad other complaints about the traffic scenario in India. Cases of road accidents and rule-breaking are reported in the newspapers on a daily basis. Considering these factors, it is important to get car insurance right after one buys a car.

We present 5 reasons to get motor insurance in India:

It pays for damages.

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Not only are cars expensive, paying for their repairs is costly, too. Sometimes, your car may be damaged due to someone else’s negligence. A car colliding with yours, or you swerving to avoid a jaywalker and crashing into a wall, or even a stray cricket ball cracking your windshield can set you back by a considerable amount of money. However, if you have car insurance, you need not pay for these repairs by yourself.

It reduces your liability.

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Taking Third Party Liability (TPL) car insurance coverage is mandatory in India. The TPL policy covers you against the legal ramifications of an accident caused by you. For example, if you happen to cause an accident that results in damages to another person’s property or injuries to another driver/pedestrian, the insurance will pay for their treatment and save you from the legal repercussions of the case.

It pays for your hospitalisation.

Not every car owner who suffers an accident is fortunate to get away with a few cuts and bruises. Some accidents result in fractures and other serious injuries that require hospitalisation. Instead of shelling out the high hospital and treatment costs from your own pocket, you can get your motor insurance to pay these expenses.

It costs less when purchased online.

Buying motor insurance online results in lower premiums and hence, a cheaper policy. This is because the insurer has lower operating costs when transacting over the Internet, and is happy to pass on the component of money saved on paying commission to a broker, to the customer. Buying motor insurance online has other advantages, such as renewing the policy in minutes and paying premiums without any paperwork.

It compensates your family after your demise.

The most unfortunate outcome of a road accident is the car owner’s demise. Once the bread-earning policy holder has passed away, it might become difficult for his or her family to sustain its daily life. However, a motor insurance policy can help pay the family’s expenses after the unfortunate event.

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