Car insurance policy is mandatory for car owners as per Indian Motor Vehicles Act 1988. It is imperative thing as well as it protects the driver, the passengers and their vehicle. Driving a car without car insurance will turn into a high risk to their vehicles and being impounded on the spot with a heavy fine and fees by the courts. Moreover, the driver license may also get suspended or revoked for a certain amount of time.
The most important and beneficiary thing of owning a motor insurance is that it provides financial, personal and medical protection. Motor insurance covers bodily injuries, damage to the vehicle, theft, payment of medical bills. This gets extended to ensuring third party damages or decease. A quality motor insurance may also temporarily replace income for an insured person who may be unable to work as a result of an injury from a fatal accident. If a person is uninsured and they are involved in a dangerous accident, they may find themselves in a financially compromising situation. Keeping in mind these financial and physical stresses it is important to purchase motor insurance..
If the drive is hit by someone who neither holds any motor insurance nor any other insurance, chances are the driver will have to pay for his own medical treatment. Hence, it is highly important to carry much needed motor insurance policy. Third party damage will also have to be paid from driver’s own pocket. A well comprehensive insurance plan covers this third party damage expenses. One should understand that these heavy repairs are so expensive.
The most important thing to remember while buying a motor insurance is to read and understand the jargons associated with it. It has been strongly observed that most of the people don’t read policy documents thoroughly and ignore the disclosure clauses until they frantically trying to submit the claim when in need. If a second hand car is purchased the new owner needs to ensure that the cover of the previous owner is null and void. This is applicable even if a legal ownership transfer has not yet materialized .
The driver holds a huge responsibility once he is behind the wheel and on the road. It is up to him to ensure absolute safety for his passengers and pedestrians from any harm. One of the ways to ensure safety from themselves and others is to own a quality motor insurance.