Is Motor Insurance Really Necessary?

12-01-2015 / admin / 0

Majority of auto owners buy online motor insurance India because it is mandatory without which they’ll be liable for a punishment. But, do you think that why vehicle insurance a compulsion?
Auto insurance is designed to protect auto owners from liabilities occurring from accident which may cause damages to their vehicles, property or an individual. Below are some of the benefits which auto owners need to consider while buying online motor insurance:
Insured’s insurance service provider pays the repair expenses for damage to policyholder’s vehicle caused due to a crash. Generally, the repayment sum is a percentage of your overall repair expenses and is completely liable to the terms of policy.
Vehicle insurance offers a personal accident cover to the auto owner as well as o the driver in case of permanent total disability or death. People covered with term insurance policies should know that the plan will not cover for total permanent disability.
It takes care of third party liability arising because of a crash. Property harm, injury or death of the third party involved in the mishap take you under a dilemma to pay for their misfortune.
In fact, people can buy additional coverage such as zero depreciation cover, no claim rewards etc to improve basic car insurance policy India. The policy term, premium amount, add-on covers, claim settlement process differ from insurer to insurer.
Today, all general insurance companies in India compute the motor insurance premium online just to help customers to figure out premiums instantly on their policies. Online comparison of different auto insurance plans provided by various insurers help you make quick choices.
Some insurers offer their clients cashless claim services, so the claim settlement process is also a matter of concern for buyers. Hence, vehicle insurance is made a compulsion to secure policyholder from the misfortunes brought post a crash, particularly to provide coverage for third party damages.

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